OpenAI’s new “agent” is here, and boy is it ever producing relatable content at glacial speed! During a demo, ChatGPT Agent was asked for help planning a trip to attend a wedding in Hawaii. It took 18 minutes before suggesting a $4,600 five-night hotel stay in Maui, some dress shoes, and a very expensive tuxedo. And it took it way, way longer to order a bunch of cupcakes. Meanwhile, the White House is about to release a 20-page AI action plan to help speed AI innovation and growth — as long as the AI isn’t “woke.”

The S&P 500 and Nasdaq 100 ended fractionally lower while the Russell 2000 fell 0.6% in a ho-hum end to the week. Volatility seems to have gone on vacation for the summer. The S&P 500 has traded in a weekly range of less than 2% in each of the past three weeks, the first time it’s done that this year.