Top of the morning! Brace yourselves for some accounting drama because Ernst & Young, the big shots in the numbers game, have a little confession to make: their audits are like a comedy of errors. Picture this:

In their recent audit escapade, a whopping 46% of them had more holes than Swiss cheese – quite the leap from last year's 21%. The other Big Four accounting firms are probably sipping their tea smirking, as they only fumble with 30% of their audits. EY, you might want to step up your audit game a tad.

But, no need to panic just yet. EY swears they're on it like a cat on catnip. To sprinkle some magic audit dust, they've decided to shake things up by centralizing decision-making and unleashing newfangled technology. Sounds promising, doesn't it? We've got our fingers crossed because, let's not forget, EY had a little dance with a lawsuit over a decade ago for playfully faking it with Lehman Brothers. Here's to hoping history doesn't have a déjà vu moment. Cheers to a flawless future of number-crunching antics!

Is the era of rate hikes waving us a tearful goodbye? Investors seem to think so, as inflation takes a leisurely stroll in October, slowing down like it's enjoying a scenic detour through a budget-friendly neighbourhood.

Move over climate protestors, Fed Chair Jerome Powell is not just shooing away picket signs, he's tiptoeing toward the day he can dramatically slam the financial problem door, complete with a mic drop.

Spotting a soft landing: The Consumer Price Index, America's favorite inflation measuring stick, decided to take a chill pill, growing just 3.2% YoY. It's like inflation's attempting a retro move back to the pre-pandemic party, and Wall Street couldn't be happier—S&P 500 and Nasdaq did a little happy dance, up 2% yesterday.

Let's break it down: October played nice with a 4.9% decrease in monthly energy prices, as if energy decided to take a spa day. Meanwhile, airline fares, apparently in competition with gravity, fell 0.9%.

What's playing hard to get: Shelter is like the VIP section of inflation, contributing the most, while food prices are the stubborn guests at the party who just won't leave.

Cue the confidence boost: The news has investors crossing their fingers that the Fed might be hanging up its rate-hiking boots. Interest-rate futures are so confident in this newfound stability that they're giving less than a 1% chance of another rate hike, according to the Wall Street Journal.

But hold onto your economic rollercoaster seats: JPow threw in a plot twist last week, saying the Fed isn't exactly doing cartwheels of confidence about existing policies fixing the inflation issue. If needed, more hikes might be lurking in the financial shadows—a sentiment shared by other Fed bigwigs, like San Francisco's very own Mary Daly.

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Drama Alert: DA, the wizard of selling pickaxes (read: computer chips) to gold miners (AI enthusiasts), is practically swimming in gold coins after its revenue doubled in the latest earnings report, hitting a jaw-dropping $13.5B. And that's not the end of the magic show! DA just pulled a rabbit out of its hat with the H200 chip, promising to be 1.6 times faster than the H100 on OpenAI's GPT-3 and 1.9 times faster on Meta's LLaMA. It's like they're on a mission to turbocharge AI models faster than a caffeinated cheetah.

Hold on to your hats because Wedbush's Dan Ives is predicting an AI spending spree next year, with big players like Apple and Microsoft leading the charge. He's calling it a 'tidal wave' of AI spending that could catapult $AAPL up by 30%. Buckle up, Alphabet, Palo Alto Networks, and Zscaler—apparently, you're riding this wave too.

In the shadows, lurking like a ninja, is Nvidia, the sixth-largest public company by market cap. After a mind-blowing 240% gain this year, they're under the spotlight, but investors are side-eyeing that hefty 35x price-to-sales multiple. Can they grow into that glamorous valuation? Stay tuned for the Nov. 21 earnings call—it's like the Oscars, but for chips.

And now, for the spicy FTC segment: Fake reviews, beware! The FTC is cracking the whip, proposing fines up to $50K for each phony review sighting. Amazon and Google Maps have been on a deleting spree, removing 200M and 115M fake reviews, respectively. Feeling the heat, tech giants like Amazon, TripAdvisor, and Glassdoor are forming the Coalition for Trusted Reviews, ready to take down fake reviews like superheroes. Meanwhile, Google is suing scammers with more profiles than a Hollywood agent's contact list.

But wait, there's a twist! AI, the villain and the hero of our story, is making the fake review problem worse but also offering a glimmer of hope. Some Amazon reviews are proudly admitting to being penned by AI chatbots, and, brace yourself, some products are AI-generated fakes. Yet, in a twist of fate, Amazon is fighting fire with fire, using AI to swiftly detect and obliterate fake reviews. It's an AI showdown, and the stakes are higher than ever!

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