BuzzFeed will work with ChatGPT creator OpenAI to use artificial intelligence to help create content for its audience.
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2023-01-27 | Sign Up | View Online
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Business & Stocks 🏢
BuzzFeed says it will use AI to help create content, stock jumps 150% (2 min read)

BuzzFeed will work with ChatGPT creator OpenAI to use artificial intelligence to help create content for its audience. The initial stage is to use the technology for creating quizzes, help with brainstorming, and assist in personalizing content. BuzzFeed is the biggest digital content creator to implement OpenAI’s technology into its business. The news sent BuzzFeed stock as much as 157% higher before closing 120% above opening price.
Boeing posts quarterly loss as labor and supply strains overshadow increase in jet demand (2 min read)

Despite a rebound in aircraft sales and deliveries that drove revenues higher, Boeing posted a big loss for Q4 as supply chain issues weighed in. Boeing is hesitant to ramp up production to meet surging demand from airlines until the supply chain issue has stabilized. For the full year, Boeing had a loss of $5 billion, even with a 7% increase in revenue. Boeing said it's producing a loss due to abnormal costs and other expenses such as research and development.
Markets & Economy 📈
The US economy grew by 2.9% in the fourth quarter, more than expected (3 min read)

The US economy continued to expand last quarter, with GDP growing by 2.9% annually. For the year of 2022, GDP grew by 2.1%. The fourth quarter was a step back from the 3.2% annualized growth in the third quarter, but it represents continued improvement on the first half of the year when GDP shrank. An economist believes that solid growth in Q4 was mostly fueled by a shockingly resilient consumer spending that is likely to die down in the coming quarters.
Animated Chart: Remittance Flows and GDP Impact By Country (2 min read)

As international borders reopened in 2022 after the pandemic, the flow of global remittances has rebounded to record highs. Last year, the top three remittance-receiving nations were India, Mexico, and China. However, remittances only accounted for a low single digit percentage of the respective countries’ GDP. Data shows that low to middle-income countries benefited from remittances the most, where they typically account for nearly a third of the countries’ GDP.
Funds & ETFs 📊
Vanguard’s 10-Year Equity Outlook (5 min read)

In Vanguard’s latest economic and market outlook report for 2023, the firm states that international equity has the highest probability of yielding the greatest return in the next decade. It is forecasting that the Vanguard Total International Stock ETF (VXUS) will earn 8.4% annually, while the Vanguard Total Stock Market ETF (VTI) will earn 5.7% annually during that period. More on the detailed outlook for each asset class is available in this article.
Fewer ETFs Are Traded on Exchanges (2 min read)

The volume of ETFs and ETPs being traded outside of exchanges like the NYSE or the Nasdaq has risen to nearly 45% at the end of last year, from just more than 30% when the year started. On-exchange trading actually peaked in 2018 at 70%, but the steady decline began last January. It is not clear what caused the rise in off-exchange trading, some possibilities include more over-the-counter trades from large institutions or the growing popularity of using request-for-quote (RFQ) platforms.
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