Tesla's stock is getting trounced by EV challenger Lucid, which is leading techs' 2023 rally thanks to Saudi takeover rumors

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Photo of Lucid Motors car in front of Lucid power plant and manufacturing car 4x3
Lucid Motors' share price has rallied 69% this year.

Lucid Motors; Reuters; Rachel Mendelson/Insider

ChatGPT has investors scrambling to get on the AI bandwagon so much that obscure stocks are soaring just like big-name chip companies

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Good morning, Opening Bell crew. Senior reporter Phil Rosen here. 

Yesterday, Fed Chair Jerome Powell gave a speech at the Economic Club of Washington, saying the stronger-than-expected labor market is going to make the inflation fight difficult.

"It kind of shows you why we think this will be a process that takes a significant period of time," Powell said, adding that the path forward is "probably going to be bumpy." 

The odds of the US slipping into recession are now just 25% thanks to a surge in jobs, Goldman Sachs says

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shutting down business in recession US
The odds of a US recession have shortened, Goldman Sachs said.

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Adani says it will repay over $1 billion in debt ahead of schedule in a bid to halt stock-market rout

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Art school teacher Sagar Kambli gives final touches to a painting of Indian businessman Gautam Adani highlighting the ongoing crisis of the Adani group in Mumbai on February 3, 2023.
A painting of Indian businessman Gautam Adani.

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Jobs numbers are so high that the Fed won't support stocks by cutting rates until 2024, Goldman Sachs chief economist says

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The US economy added 517,000 payrolls in January, according to Friday's jobs report.

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Paul Krugman says not to worry about the dollar weakening despite recent challenges to its dominance

Tech Insider : Crypto
paul krugman
Nobel-winning economist Paul Krugman.

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Michael Saylor still sees bitcoin as a safe haven for investors, even after MicroStrategy's holdings shed $1.3 billion in value last year

Tech Insider : Crypto
Michael Saylor
MicroStrategy executive chairman Michael Saylor.

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The European Central Bank has raised interest rates for the 5th time in a row, sticking to its inflation fight

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ECB
The European Central Bank raised interest rates by 50 basis points Thursday as it continues its battle against inflation.

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Investors are still stuck on hoping for Fed rate cuts but the focus will turn to earnings gloom, Morgan Stanley's top strategist says

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Markets are hooked on the "heroin" of potential Federal Reserve interest rate cuts, according to Morgan Stanley's chief US equity strategist Mike Wilson.

Bloomberg TV

Short-seller Jim Chanos warned of a US debt default black swan, slammed Tesla's rally and said bulls have dreamed up a 'nirvana' outlook in a recent interview. Here are his 11 best quotes.

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Jim Chanos
Famed short-seller Jim Chanos.

David Orrell/CNBC/NBCU Photo Bank/NBCUniversal/Getty Images

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