Aurelia Butler

The upbeat outlook indicated that Zoom (NASDAQ:ZM)’s efforts to incorporate artificial intelligence (AI) and broaden its range of services have been successful.It introduced Zoom Workplace, an AI powered, open collaboration platform in March, along with new AI companion expansions, first unveiled in September last year, for paid users.Zoom, along with platforms like Microsoft (NASDAQ:MSFT)’s Teams and Cisco (NASDAQ:CSCO)’s Webex are pandemic darlings, which most businesses and individuals turned to, for connecting with employees and friends.”In Q1, we continued to integrate AI across our platform including Zoom Contact Center and Zoom Workplace, our AI-powered collaboration platform,” CEO Eric Yuan said.The company now expects 2025 revenue of about $4.61 billion to $4.62 billion, up from its earlier forecast of about $4.6 billion. Analysts expect revenue of $4.61 billion, according to LSEG data.On an adjusted basis, it expects full-year earnings between $4.99 and $5.02 per share, compared with its previous forecast of between $4.85 and $4.88. For the second quarter, Zoom sees revenue between $1.145 billion and $1.150 billion, slightly below analysts’ average estimate of $1.15 billion.The company posted revenue of $1.14 billion, up 3.2%, for the first quarter ended April 30 and above analysts’ expectations of $1.13 billion.Zoom reported quarterly adjusted earnings of $1.35 per share, also above estimates of $1.20. More

Abinader said the reform would include tweaks to taxation as well as public spending.The overhaul would include “significantly improving our educational system, healthcare, (and) a police reform,” Abinader said at a press conference.The president said that tax reform would not put the Dominican Republic’s economic growth at risk while looking to protect the nation’s most vulnerable. Abinader cautioned that his proposal would likely go into effect with some changes.He also spoke of plans to present an electoral reform, though he gave little detail. More

(Reuters) – A look at the day ahead in Asian markets.Investors’ appetite for stocks and risk assets shows no sign of waning which, in the absence of any major market-moving economic data or events in Asia on Tuesday, should pave the way for further gains across the continent when trading gets underway.Monday’s global market moves encapsulated the ‘FOMO’ that seems to be fueling the ongoing risk rally – volatility, the dollar, bond yields and geopolitical uncertainty all rose to varying degrees, yet equities marched higher regardless.’Fear of missing out’ – which some might say isn’t all that far removed ‘irrational exuberance’ – is a powerful force. But it can also be a red flag, especially when long-time market bears join the frenzy. Morgan Stanley’s U.S. equity strategist Mike Wilson has not been the only Wall Street bear over the last couple of years, but he has certainly been one of the most prominent. On Monday, he and his team raised their base-case, 12-month forecast for the S&P 500 to 5400 points. That’s only up around 2% from Friday’s close, but 20% higher than their previous forecast of 4500.Only time will tell if Wilson’s about-turn will be an indication that investors’ exuberance has become irrational. Right now, however, at least until chipmaker Nvidia (NASDAQ:NVDA)’s earnings on Wednesday, market bulls are firmly in control.And Asia is enjoying the ride too. The MSCI Asia ex-Japan equity index on Monday rose to a two-year high with its seventh consecutive rise, its best run since January last year. Another increase on Tuesday will seal its best run since August-September 2021.Japan’s Nikkei is back above 39,000 points for the first time in over a month, and the dollar is back above 156.00 yen. The dollar is now within one yen, more or less, of where Japanese authorities are widely thought to have conducted yen-buying intervention on May 1.Intervention seems unlikely right now, but currency traders will not be complacent. The latest Commodity Futures Trading Commission data show that speculators reduced their net short yen positions for a third week, but not by much. The main event on the Asian and Pacific calendar on Tuesday is the release of the minutes from the Reserve Bank of Australia’s May 7 policy meeting. The RBA quashed market talk at the time of a near-term interest rate hike but also didn’t hold out much chance of a cut for months to come. The Aussie dollar has regained its poise since then to climb to a four-month high just above $0.67. Australian rates markets are not fully pricing in a 25-basis point rate cut until April next year.Here are key developments that could provide more direction to markets on Tuesday:- Reserve Bank of Australia meeting minutes – Australia consumer sentiment (May)- Indonesia’s government presents 2025 economic forecasts to parliament More

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The initiative was outlined in a report released Wednesday by the AI Working Group, led by Senate Majority Leader Chuck Schumer (D., N.Y.). The document serves as a road map for AI policy, presenting a number of recommendations to foster AI advancement while addressing potential risks associated with the burgeoning technology.The senators proposed increasing federal spending on nondefense AI innovation to at least $32 billion annually, although they acknowledged that reaching this target could take several years.The proposed spending would support various initiatives, including the design and manufacturing of advanced AI chips, local election initiatives, and a series of “AI Grand Challenge” programs aimed at promoting innovation.“This is a time in which the dollars we put into this particular investment will pay dividends for the taxpayers of this country long term,” said Sen. Mike Rounds (R., S.D.), noting that China significantly outspends the U.S. on AI development.Commenting on the prospect of more fiscal stimulus, Piper Sandler economists said the Senators behind the plan “have got to be kidding.”“As we’ve written, we worry stealth monetary & fiscal stimulus will artificially stoke demand, and keep inflation sticky. Think tapering QT, student loan forgiveness, ERC payments, etc,” they noted.“Yes, it would be just 0.1ppt of GDP per year, so by itself it wouldn’t be a game changer, but it highlights our concern that additional Washington stimulus will support eco activity for “election” reasons. The bad news is this will keep inflation sticky,” economists added.Piper Sandler said that with stagnating goods demand, early signs indicate easing price pressures in some service sectors, particularly dining out, as real restaurant sales stall.Discretionary services are seeing demand destruction, however, overall inflation remains high, driven by a sharp 6.2% year-over-year increase in the non-discretionary consumer price index (CPI). More

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