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Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, October 14, 2022.

Brendan McDermid | Reuters

Here are the most important news items that investors need to start their trading day:

1. Volatility and earnings

2. Let’s try this again, shall we?

Jeremy Hunt is interviewed for Sophie Raworth’s ‘Sunday Morning’ at BBC Broadcasting House in London.

Tejas Sandhu | Lightrocket | Getty Images

Britain has a new finance minister, Jeremy Hunt, and he unveiled a new economic plan Monday. Hunt replaces Kwasi Kwarteng, who was sacked after just weeks on the job because his tax-cut-heavy economic plan sent UK bonds and the pound spiraling. Hunt on Monday said the new plan will eliminate almost all of the tax cuts proposed under Kwarteng’s budget. Prime Minister Liz Truss’s government, which has only been in office just over a month, is already on thin ice over the market turmoil, but it’s likely she will stay in office for the time being. UK Conservative Party rules say a new leadership election can’t be held for a year.

3. Bank of America beats

Brian Moynihan, CEO of Bank of America, speaking at the WEF in Davos, Switzerland on May 23rd, 2022. 

Adam Galica | CNBC

Bank of America on Monday posted earnings and revenue that topped Wall Street’s expectations. The bank cited better-than-expected gains from fixed-income trading and interest income, which were fed by rising interest rates and market volatility. Bank of America’s results follow last week’s initial wave of big bank earnings. JPMorgan and Wells Fargo exceeded projections due to strong interest income. Citigroup also topped estimates, but Morgan Stanley fell short due to underwhelming investment management results. Goldman Sachs is set to report Tuesday.

4. Drones hammer Kyiv

A soldier is seen sitting on the ground after Russian attacks in Kyiv, Ukraine on October 17, 2022. It was reported that at least four explosions were heard in Ukraineâs capital Kyiv on Monday as authorities reported attacks by Russian kamikaze drones.

Metin Aktas | Anadolu Agency | Getty Images

5. Ye pulls a Trump

Kanye West arrives at the Vanity Fair Oscar Party on Feb. 9, 2020, in Beverly Hills, Calif.

Evan Agostini | Invision | AP

Ye, the artist formerly known as Kanye West, has agreed to buy right-wing-friendly social media app Parler just days after Instagram and Twitter limited his accounts over his recent antisemitic remarks. The billionaire rapper and producer’s move is reminiscent of former President Donald Trump’s creation of Truth Social. He helped found the Twitter-like app after Twitter, Facebook and other platforms barred him for inciting violence on Jan. 6, 2021, when hundreds of his followers invaded the U.S. Capitol. Parler, like Truth Social and other conservative-friendly social networks, touts its dedication to “free speech,” which Ye pointed to in a statement provided by Parler’s parent company: “In a world where conservative opinions are considered to be controversial we have to make sure we have the right to freely express ourselves.” Elon Musk, who has praised Ye and is set to acquire Twitter, albeit reluctantly, has vowed to make Twitter a “free speech” platform, as well. He has also said he would allow Trump back on the app.

– CNBC’s Yun Li, Jenni Reid, Holly Ellyatt, Hugh Son and Ryan Browne contributed to this report.

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Quantum stocks Rigetti Computing and D-Wave surged double-digits this week. Here’s what’s driving the big move

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Quantum stocks Rigetti Computing and D-Wave surged double-digits this week. Here's what's driving the big move

Inside Google’s quantum computing lab in Santa Barbara, California.

CNBC

Quantum computing stocks are wrapping up a big week of double-digit gains.

Shares of Rigetti Computing, D-Wave Quantum and Quantum Computing have surged more than 20%. Rigetti and D-Wave Quantum have more than doubled and tripled, respectively, since the start of the year. Arqit Quantum skyrocketed more than 32% this week.

The jump in shares followed a wave of positive news in the quantum space.

Rigetti said it had purchase orders totalling $5.7 million for two of its 9-qubit Novera quantum computing systems. The owner of drugmaker Novo Nordisk and the Danish government also invested 300 million euros in a quantum venture fund.

In a blog post earlier this week, Nvidia also highlighted accelerated computing, which it argues can make “quantum computing breakthroughs of today and tomorrow possible.”

Investors have piled into quantum computing technology this year, as tech giants Microsoft, Nvidia and Amazon have embraced the technology with a wave of new chip announcements, multi-million dollar investments and research plans.

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Quantum computing is the most radical technology in history: Bank of America's Haim Israel

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How to get Sora app invite codes for OpenAI’s viral AI video creator

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How to get Sora app invite codes for OpenAI's viral AI video creator

Cfoto | Future Publishing | Getty Images

OpenAI’s new artificial intelligence video app Sora has already grabbed the top spot in Apple‘s App Store as its number one free app, despite being invite-only.

Sora, which was launched on Tuesday, allows users to create short-form AI videos and share them in a feed. The app is available to iPhone users but requires an invite code to access.

Here’s how to snag a Sora app invite code:

  • First, download the app from the iOS App Store. Note that Sora requires iOS 18.0 or later to be downloaded.
  • Login using your OpenAI account.
  • Click “Notify me when access opens.”

A screen will then appear asking for an access code.

Currently, OpenAI has said that it is prioritizing paying ChatGPT Pro users for Sora access. The app is only available in the U.S. and Canada, but is expected to roll out to additional countries soon, the company said.

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If you do not know someone who can provide an access code, several people are sharing invite codes on the official OpenAI Discord server, as well as on X and Reddit threads.

Once you input your access, you will be able to start generating AI videos using text or images. Users are also able to cameo as characters in their videos as well as “remix” other posts.

The app is powered by the new Sora 2.0 model, an updated version of the original Sora model from last year. The video generation model is “physically accurate, realistic, and more controllable” than prior systems, the company said in a blog post.

OpenAI's Sora 2 sparks AI 'slop' backlash

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OpenAI’s invite-only video generation app Sora tops Apple’s App Store

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OpenAI's invite-only video generation app Sora tops Apple’s App Store

Sopa Images | Lightrocket | Getty Images

OpenAI now has two of the top three free apps in Apple’s App Store, and its new video generation app Sora has snagged the coveted No. 1 spot.

The artificial intelligence startup launched Sora on Tuesday, and it allows users to generate short-form AI videos, remix videos created by other users and post them to a shared feed. Sora is only available on iOS devices and is invite-based, which means users need a code to access it.

Despite these restrictions, Sora has secured the top spot in the App Store, ahead of Google‘s Gemini and OpenAI’s generative chatbot ChatGPT.

“It’s been epic to see what the collective creativity of humanity is capable of so far,” Bill Peebles, head of Sora at OpenAI, wrote in a post on X on Friday. “Team is iterating fast and listening to feedback.”

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Sora is powered by OpenAI’s latest video and audio generation model called Sora 2. OpenAI said the model is capable of creating scenes and sounds with “a high degree of realism,” according to a blog post. The startup’s first video and audio generation model, Sora, was announced in February 2024.

OpenAI said it has taken steps to address potential safety concerns around the Sora app, including giving users explicit control over how their likeness is used on the platform. But some of the initial videos posted to the app, including one that depicts OpenAI CEO Sam Altman shoplifting, have sparked debates about its utility, potential for harm and legality.

“It is easy to imagine the degenerate case of AI video generation that ends up with us all being sucked into an RL-optimized slop feed,” Altman wrote in a post on X on Tuesday. “The team has put great care and thought into trying to figure out how to make a delightful product that doesn’t fall into that trap, and has come up with a number of promising ideas.”

WATCH: OpenAI’s Sora 2 sparks AI ‘slop’ backlash

OpenAI's Sora 2 sparks AI 'slop' backlash

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