Microsoft gives Copilot a much-needed overhaul, and the stock deservedly soars
Every weekday, the Investing Club releases the Homestretch; an actionable afternoon update just in time for the last hour of trading.
TL;DR
- The stock market closed higher on Friday, contributing to a winning week, despite rising bond yields.
- Microsoft's stock increased more than 4% after releasing a comprehensive update to its Copilot AI tool, which integrates existing features and adds new functionalities like Code and Autopilot.
- The Federal Reserve recently raised interest rates for the first time in three years to combat inflation, with further increases anticipated.
- Upcoming economic data includes the September ADP report on private sector hiring, weekly jobless claims, and the PCE price index for August, which is expected to remain above the Fed's 2% target.
- Micron is scheduled to report earnings next week, with its stock having seen significant gains due to a global memory shortage.