Stocks Rise Amid Inflation Fears, Goldman Sachs Weighs CEO Succession

Stock futures are trading higher on Tuesday after major indexes posted losses on Monday. The Dow Jones Industrial Average and S&P 500 futures were up 0.2%, while tech-heavy Nasdaq futures added 0.4%. This comes as investors remain concerned about inflation caused by the Iran war, which led to a surge in Treasury yields over the weekend.

Goldman Sachs is reportedly considering a plan to name COO John Waldron as its next CEO, replacing David Solomon in late 2028 or early 2029. This comes after Solomon's unsuccessful expansion of Goldman's consumer lending efforts and pivot back to investment banking and wealth management. Shares were up slightly in premarket trading.

OpenAI has canceled the release of its new AI model over concerns about its behavior during testing. The company cited issues with alignment, or whether the model performed only tasks it was requested to complete, as well as scope authorization, or how often it would ask for permission before taking additional steps beyond what it was asked to do.

Anthropic's IPO documents reveal the risks associated with AI, including potential catastrophic or existential threats to humanity. The company also reported a staggering net loss of $42 billion last year on revenue of around $4.6 billion and plans to spend over $518 billion on hardware and compute capacity in the coming years.

Oura, maker of health tracking rings, has postponed its IPO due to market uncertainty despite generating $907.9 million in revenue in the fiscal year ending September 2022 and already growing to $1.21 billion in sales through the first nine months of this current fiscal year with profits reaching $60.77 million.