The International Bureau of Weights and Measures has voted to abolish leap seconds, so atomic time in UTC will no longer be kept strictly in line with astronomical time. Leap seconds have been applied 27 times since 1972, but they have caused problems for telecommunications, navigation and grid synchronisation, and tech giants such as Amazon, Google and Meta had campaigned to scrap them. Scientists favour a leap hour instead, which would be less disruptive and need updating only about once every thousand years. From 20 May 2027, a difference of up to 1 hour between UTC and astronomical time (UT1) will be allowed before intervention, and UT1 will continue to be monitored, according to Setnam Shemar of the National Physical Laboratory.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on Yahoo Finance ↗
Related news
- Why the world's No. 1 fund manager has just changed its mind on bonds for the first time in six years
- Elon Musk Says AI And Robots Are The Only Way To Solve America's $40 Trillion Debt Problem — 'We're Not Gonna Save Our Way There'
Elon Musk told biographer Walter Isaacson, in a podcast interview reported by Axios, that the US national debt can only be solved with AI and robots, not by trying to save its way out. Musk said his time leading the Department of Government Efficiency (DOGE) showed how hard it is to cut the deficit from within government, because cutting wasteful spending means you make a lot of enemies. The U.S. national debt stood at roughly $40.39 trillion as of Oct. 15, according to Treasury data cited in the report. He added that he should have focused on AI sooner and been more in the background during his time in the Trump administration. The article also notes Tesla's shift toward robotics, and Musk's claim that AI and robots could enable universal high income, a view criticized by NYC Mayor Zohran Mamdani and Sen. Bernie Sanders.
- We Just Witnessed a Unique Stock Market Measure Do Something for Only the 4th Time Since 1997 , and It Offers a Chilling Outlook for Wall Street
The Dow Jones Industrial Average, S&P 500 and Nasdaq Composite have hit several record closing highs over the past four years, driven by AI infrastructure spending, record-breaking IPOs and better-than-expected earnings. The article highlights outstanding margin debt, reported monthly by FINRA, as a measure of investor risk-taking, since borrowing can magnify both gains and losses. Since 1997, margin debt has surged at least 65% over a short period four times, and the three earlier episodes preceded major bear markets, including the dot-com crash, the financial crisis and the 2022 downturn. From April 2025 to June 2026, margin debt rose 77% to an all-time high of $1.502 trillion, which the article says could foreshadow trouble for stocks, though long-term investors have historically benefited.
- We Just Witnessed a Unique Stock Market Measure Do Something for Only the 4th Time Since 1997 , and It Offers a Chilling Outlook for Wall Street
The article notes the US stock market has rallied for roughly four years, with the Dow Jones, S&P 500 and Nasdaq posting several record closes, driven by AI infrastructure spending, record IPOs and better-than-expected earnings. It focuses on outstanding margin debt, the money investors borrow from brokers to buy or short-sell securities, which FINRA reports monthly as a gauge of risk-taking. Since 1997, margin debt has jumped at least 65% over a short period four times, and the previous three were followed by major bear markets, including the dot-com crash, the financial crisis and the 2022 downturn. The latest episode, from April 2025 to June 2026, lifted margin debt 77% to a record 1.502 trillion USD. While the article warns of short-term risks, it also notes stocks have historically delivered higher average annual returns than other asset classes, so long-term investors may view the picture differently.
- We Just Witnessed a Unique Stock Market Measure Do Something for Only the 4th Time Since 1997, and It Offers a Chilling Outlook for Wall Street
U.S. stocks have climbed for most of the past four years, with the Dow Jones, S&P 500 and Nasdaq Composite repeatedly hitting record closes, driven by AI infrastructure spending, record IPOs and better-than-expected earnings. The article highlights outstanding margin debt, the money investors borrow from brokers to buy or short-sell securities, as a telling gauge of risk appetite, reported monthly by FINRA. Since 1997, margin debt has risen by at least 65% over a short period four times, and the previous three spikes preceded major bear markets, with the S&P 500 down 49% by October 2002 and 57% by March 2009. The latest spike, from April 2025 to June 2026, lifted margin debt 77% to a record $1.502 trillion, which the article says is a warning sign for stocks in the short term. Still, it notes that over the long run, stocks have historically delivered considerably higher average annual returns than bonds, commodities and real estate.
- Oil Just Hit $100 a Barrel . What Happened to Bitcoin the Last Time Oil Prices Hit Three Digits ?
U.S. crude hit $102 a barrel on Oct. 14, its highest since mid-September, and Brent rose above $106, driven by Iran's attacks near the Strait of Hormuz and Ukraine's strikes on Russian refineries. The article recalls that in September Bitcoin fell 7% to $75,584 on Sept. 15 as WTI peaked, then rallied as oil cooled, reaching an intraday high of $87,397 on Sept. 21. Bitcoin was trading at $81,497 at the time of writing, down 1.5% over the week but up 6.8% over the past month. It explains that high oil prices can fuel inflation and reduce risk appetite, often dragging Bitcoin lower alongside tech stocks, though some investors view Bitcoin as an inflation hedge. The article suggests watching whether Bitcoin holds its $76,349 support level while oil stays above $100.
Related markets
Latest news
- Chips Are Selling Off and Apple Just Hit a New High. What Splits the AI Trade
Chip stocks sold off last week, with the iShares Semiconductor ETF (NASDAQ:SOXX) down 13.31%, while Apple (NASDAQ:AAPL) rose 2.11% and sits about 1.5% below its 52-week high. The article argues Apple benefits from AI by selling it across more than 2.5B active devices, rather than through heavy infrastructure spending like hyperscalers, and notes revenue grew 16.4% year over year last quarter. The stock trades at $342.96 against a 24/7 Wall St. 12-month target of $397.78 (15.99% upside), with a bull case of $451.56 driven by Siri AI and iCloud Plus upgrades. Risks include memory costs, which Cook called “a 100-year flood,” and gross margin guidance of 47% to 48%; the consensus target of $329.38 sits below the current price. The piece also compares Apple’s P/E with NVIDIA and Microsoft, concluding Apple has less exposure to AI infrastructure spending.
- September data shows housing market in a deep freeze
Rising mortgage rates took a harsh toll on the housing market in September. Pending home sales, which measure signed contracts on existing homes, fell 7.3% from August and 11.3% year over year, according to the National Association of Realtors. The average 30-year fixed mortgage rate climbed from about 6.8% to 7.6% during the month, and sales fell most sharply in the South (-8.2%) and West (-9.2%). Housing starts dropped 4.56% to 859,000 annualized, the lowest since September 2025, and building permits fell 4%. Homebuilder sentiment in October hit its lowest level in 14 years, and economists expect construction to stay weak into 2027.
- Revealed: the foreign 'big spender' that has poured over USD 100 billion into Vietnam
Foreign direct investment (FDI) registered in Vietnam topped USD 50 billion in the first nine months of 2026, up 76.4% year on year, while disbursed FDI reached over USD 21.07 billion. Singapore led with USD 12.85 billion in registered capital, up nearly 86% and over a quarter of the national total, ahead of South Korea at over USD 3.1 billion. Singapore's new projects totaled USD 9.26 billion, with USD 2.32 billion in capital increases at existing projects and over USD 1.26 billion in capital contributions and share purchases in domestic firms. Cumulatively, Singapore has passed USD 101.5 billion, becoming the second partner to exceed USD 100 billion and narrowing the gap with South Korea to about USD 2.7 billion. The Ministry of Finance attributes the inflows to the Strategic Partnership and cooperation in green and digital economy.
- Savings interest rates on October 20 at Agribank, Vietcombank, VietinBank and BIDV: Large gaps at 12-24 month terms
After Agribank and Vietcombank cut deposit rates, the rates at the four state-owned banks diverged more clearly. For 1-3 month terms, Agribank is highest at 2.6%-2.9% per year, while Vietcombank, VietinBank and BIDV offer 2.1%-2.4%. For 6-9 months, Vietcombank's 3% per year is below the 3.5% offered by the other three. From 12 months up, BIDV and VietinBank stay higher, at 5.9% for 12 months and 6% for 24 and 36 months, while Vietcombank offers 4.8% for 36 months. These are counter rates for individual customers and may change by term, deposit amount, channel and each bank's policy.
- Anthropic Will Be The Last AI IPO Of 2026, As Industry Collapses
Business Insider founder Henry Blodget noted Anthropic’s month-over-month revenue growth flattened last month, while the article says AI funding is tightening: CoreWeave (NASDAQ: CRWV) is paying up to 13% on new debt, SoftBank has debt problems, and as many as 1,000 communities are trying to block AI data centers. Borrowing for data centers could reach $1 trillion a year through 2030, and shares in AI data center company Elice fell 33% on its IPO launch, the worst opening day for a sizable Korean IPO according to Bloomberg data. The article says Anthropic could be valued at around $2 trillion on IPO day, but under GAAP it is not profitable despite management’s claims, and a trust controlling the board has incomplete disclosures. It concludes Anthropic may list, possibly below $2 trillion, while no other AI firm is likely to IPO this year.
- Amazon to hire over 300,000 holiday workers, up 20% from last year
Amazon plans to hire more than 300,000 workers across its U.S. core operations network for the holiday season, a 20% increase over last year, while overall retail hiring is expected to soften to its lowest level since 2008. Seasonal starting wages average $20 per hour, and full-time core operations staff average nearly $24 per hour. From January 1, 2027, Amazon will extend healthcare benefits to seasonal employees working at least 30 hours per week, with plans starting at $5 per week. The company has committed more than $1.5 billion to wage increases, bringing average full-time compensation including benefits to over $32 per hour. The article frames these moves as a way to shield the supply chain from labor bottlenecks during peak demand.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.