Lazada Malaysia has launched AI Lazzie, an AI shopping assistant powered by OpenAI’s ChatGPT, to enhance the user experience on its platform as the 11.11 sale approaches. AI Lazzie provides users with tailored product recommendations, deals, and curated suggestions based on wishlists and past purchases. Accessible through the Message+ feature on Lazada's app, AI Lazzie will be fully rolled out by the 11.11 sale. Users can also take a personality quiz to discover their shopping “spirit animal” — such as a llama or fennec fox — which grants a unique LazCash voucher code redeemable through Message+. Virtual try-on models are another new feature, allowing users to visualise clothing on virtual models, streamlining the shopping experience for customers and reducing costs for sellers. In October, Lazada released a whitepaper on AI adoption in Southeast Asian e-commerce . The study, conducted with Kantar, surveyed over 6,000 users across Southeast Asia and found that 88% of shoppe
The S&P 500 rose 0.7%, with the Nasdaq 100 up 1.5%. Treasury yields fell as the 10-year yield dropped by 10 basis points to 4.33%, and the dollar saw its biggest dip since August, declining by 0.8%.
Fed Rate Cut and Economic Indicators:
The Fed’s unanimous decision reduced the federal funds rate to a range of 4.5%-4.75%. Their statement noted that labor market conditions have eased and inflation is progressing toward the 2% target though it remains “somewhat elevated.” Analysts at Bank of America and other firms interpreted Powell’s remarks as dovish, suggesting another 25-basis-point cut in December remains likely.
Market Reaction and Insights:
- Jason England at Simplify Asset Management anticipates a slower pace of cuts next year as the Fed evaluates economic policies under the new administration.
- Tiffany Wilding at PIMCO highlighted that lower downside risks to economic activity suggest a gradual adjustment of the policy rate.
- Whitney Watson at Goldman Sachs foresees another cut in December but flags rising risks due to uncertain fiscal and trade policies.
Corporate Highlights:
- Expedia and Airbnb issued optimistic holiday forecasts, while Pinterest predicted weaker holiday sales.
- DraftKings cut its full-year estimates, citing a slow fourth quarter start, while Under Armour and Ralph Lauren reported strong quarterly results, raising their outlooks.
- Hershey adjusted its growth outlook due to consumer pullback and high cocoa costs, while Warner Bros Discovery saw a subscriber boost in its streaming service.
Key Market Moves:
- Currencies: The euro rose 0.7% to $1.0801, and the yen rose 1.2% to 152.82 per dollar.
- Cryptocurrencies: Bitcoin rose 0.9% to $76,637.56, and Ether surged 8.1% to $2,907.78.
- Commodities: WTI crude increased by 0.4% to $71.99 per barrel, and spot gold rose 1.7% to $2,704.69 per ounce.
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