Welcome to Seeking Office Wall Street Lunch.

Our afternoon update on today's market action, news, and analysis.

Good afternoon.

Today is Monday, October 30th, and I'm your host, Kim Khan. Our top story so far.

President Joe Biden issued an executive order on artificial intelligence. The order establishes new standards for AI safety and security, aims to protect privacy, advance

equity in civil rights, stand up for consumers and workers, and promote innovation and competition,

according to the White House.

The move builds on previous actions the U.S. has taken, including voluntary commitments

from 15 companies to drive safe and trustworthy development of AI.

In July, tech giants including Amazon, Alphabet, Meta platforms, and Microsoft made voluntary

commitments to the White House to implement certain measures for the safe use of AI.

The executive order requires developers of AI systems share their safety test results and other critical information with the US government.

In addition, the G7 will agree to a code of conduct for companies building advanced AI systems

that's according to Reuters which cited a G7 document the voluntary code of

conduct will establish a measure for how major countries govern the

technology the 11 point code aims to promote safe,

secure, and trustworthy AI worldwide and will provide voluntary guides for actions by organizations

developing the most advanced AI systems, including the most

advanced foundation models and generative AI systems, the document said. In today's

trading, stocks are up to start the week with the broader market looking a little

oversold the S&P is up half a percent after it fell into correction territory

last week. Rates are ticking up ahead of Wednesday's FOMC decision the 10-year yield is around 4.9%.

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