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On September 15th, Bank of America CEO Moynihan stated on Monday that he expects the banks investment banking revenue to decline by at least 10% in the third quarter, while sales and trading revenue will remain flat. Moynihan anticipates third-quarter investment banking revenue to be between $1.6 billion and $1.8 billion, down from $2 billion in the same period last year. He stated that the deal pipeline remains ample, but also warned that rising interest rates could lead to a slowdown in some funding demand. Moynihan stated, "We have very strong confidence in the fundamentals of the U.S. economy."
CrowdStrike (CRWD.O) CEO George Kurtz stated that slowing down the development of increasingly powerful AI models does not eliminate their security risks. "Pandoras box has been opened."
The Saudi-led coalition said 13 civilians were injured in attacks by Yemeni Houthi rebels on the Saudi cities of Khamis Mushait, Abha, and Taif on Monday.
According to Business Insider: Google (GOOG.O) allows all engineers to use Anthropics model Claude.
Market news: U.S. Attorney General Blanch will hold a press conference at the White House tomorrow.