Kim Kahn

And economist Joseph Bresuelis says it is better to state forthrightly that we do not have sufficient sense of price movements over the past two months.

Among active stocks, Birkenstock is tumbling after solid fiscal Q4 results were overshadowed by tariff headwinds and a weak outlook.

The Sandalmaker sees tariffs impacting profit margins by 100 basis points in fiscal 2026.

Lilly announced its obesity pill, or Forglipron, delivered superior weight maintenance in a Phase 3 trial for obese or overweight adults who had previously received injectable weight loss drugs like Zepbound or Novo's Wegovii.

And Accenture is under pressure after guiding fiscal Q2 revenues slightly below expectations.

The company also said it will be the last quarter it shares advanced AI bookings and revenues.

In other news of note, OpenAI has held preliminary discussions to raise tens of billions of dollars, potentially up to $100 billion, at a valuation of around $750 billion.

The information said talks are still preliminary and key details could change, but if finalized, the deal would represent a roughly 50% jump from OpenAI's reported $500 billion valuation in October.

And Meta's outgoing top AI scientist Yang Li-kun is looking to raise €500 million for his new startup focused on world models.

The FT said the capital raise would value the company, Advanced Machine Intelligence Labs, at about $3 billion.

LeCun has tapped Alexandre Lebrun, founder of the French health tech startup Nabla, as AMI's CEO.

And in the Wall Street Research Corner, you don't need an AI bot to know which way the risks go.

The technology bubble bursting has emerged as the overwhelming concern among investors heading into 2026.

Deutsche Bank's annual investor survey shows 57% of respondents included a tech bubble among their three biggest risks, a record-breaking margin.

We've never seen a single risk score so far ahead of the rest entering a new year, strategist Jim Reed noted.

The number two concern, a new Fed share pushing for aggressive rate cuts and triggering market turmoil.

A private capital crisis rounds out the top three, with Reed highlighting that this is a recurring theme in recent client conversations following the failures of First Brands and Tricolor.

Rising bond yields and unexpected central bank hikes complete the top five.

Check out the full list in our story on Seeking Alpha.

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