The stock market closed lower on Thursday, continuing a dismal start of the year. There is still uncertainty as to when the Federal Reserve will cut interest rates.
Overall, S&P 500 fell 0.3% to 4,689, while NASDAQ declined 0.6% to 14,510.
Tweet of the Day
There goes the job market.
Forget the plunge in quits: hiring was absolutely obliterated in November, and is now far below pre-covid levels. pic.twitter.com/t9MrMinu0y
— zerohedge (@zerohedge) January 3, 2024
Chart of the Day
Here is the one-year chart of Zscaler (ZS) as of December 13, 2023, when the stock was at $215.
In this quarter’s earnings call presentation, Zscaler focused on the security risks Artificial Intelligence (AI) presents. In a survey of greater than 900 IT decision makers on AI, 95% of organizations are using Generative AI tools, but 57% are allowing Generative AI use without restriction. Meanwhile, attackers are utilizing Generative AI as it can evade traditional security. However, Generative AI appplications can also create security risks.
Zscaler’s Zero Trust exchange can prevent and suppress attacks by inspecting data and logging it, analyzing in real time, and then predicting and acting on attacks. Its AI threat protection uses a diffusion model to detect complex exploits and catch attacks that get past traditional security. The company now secures greater than 2 billion AI transactions per month for customers. Recently, Zscaler launched Risk 360, the industry’s 1st AI-powered risk quantification and mitigation solution.
ZS is part of the Aggressive Growth Portfolio and Growth Portfolio.
