Kim Kahn

He warned an AI bubble burst would create broad vulnerability across industries, adding, no company is going to be immune, including us, but he voiced confidence Google would weather any turbulence.

And in the Wall Street Research Corner, Goldman Sachs has identified a new group of AI productivity beneficiaries, highlighting companies' best position to see earnings lift from automation-driven efficiency gains.

Strategist David Koston screened Russell 1000 stocks with both high exposure to AI-automatable wage bills and high labor cost intensity.

Then he narrowed the list to companies that discussed AI-driven productivity on their most recent earnings calls.

Among the standouts are Keycorp, Bank of America, Twilio, IBM, and Zillow.

The full list of stocks is in our story on Seeking Alpha, and yes, the 20% Black Friday sale is still running.

That link will be at the top of show notes.

Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action, news, and analysis.

Good afternoon.

Today is Monday, November 10th, and I'm your host, Kim Kahn.

Our top story so far, Adobe says US online spending rose 8.2% year-over-year in October to $88.7 billion.

Adobe also noted that shoppers are echoing the AI enthusiasm of investors.

Generative AI-driven traffic is rising sharply and converting better.

In October, visits from AI referral sources surged 1,200% year over year.

Those shoppers were 16% more likely to make a purchase and showed 31% lower bounce rates exploring more content and spending more time on retail sites.

In short, AI visitors aren't just browsing, they're buying.

Mobile purchases made up 51.4% of that total, climbing 11.6% from a year ago, while buy-now-pay-later transactions hit $7.1 billion, up 7.6% as consumers look for more flexible ways to manage budgets.

Spending spiked during the Amazon Prime Day event on October 7th and 8th, with discounts stretching across major U.S.

retailers.

Shoppers spent $9.1 billion over the two days, helped by markdowns that peaked at 18% off listed prices.