Happy Friday, N2K reader!

Vote for the winner of this week’s world-famous news haiku competition™ in today’s poll!

There’s also some news you Need2Know. Let’s get to it…

Matt Davis — Need2Know Chedditor

News You Need2Know

What’s the stock market up to, eh?

$SPX ( ▼ 0.54% )   $DJI ( ▲ 0.03% )   $NDX ( ▼ 1.18% )  

Companies mentioned in today’s newsletter

$NFLX ( ▲ 2.29% )   $WBD ( ▼ 0.35% )   $PSKY ( ▲ 10.04% )   $GOOGL ( ▼ 1.76% )   $MSFT ( ▲ 0.28% )   $AMZN ( ▼ 1.29% )   $NVDA ( ▼ 5.46% )   $BYTEDANCE ( 0.0% )   $SAP ( ▲ 3.24% )  

Should you refi as mortgage rates go below 6%?

In recent months, homeowners have been keeping a close eye on mortgage rates and for good reason. With rates dipping below 6% for the first time in years yesterday, many are wondering whether now is the right time to refinance. Refinancing your mortgage at a lower interest rate could potentially save you thousands of dollars over the life of your loan — but is it the right move for your specific financial situation?

Refinancing makes the most sense if the new rate is at least 1% lower than your current mortgage rate, as this can meaningfully reduce your monthly payments and overall interest costs. For instance, let’s say you currently have a 6.75% rate on a $300,000 loan. Refinancing to 5.75% could lower your monthly payment by several hundred dollars, not to mention the long-term savings.

However, refinancing isn't always a slam dunk. Consider closing costs, typically 2-5% of your loan amount. If you don't plan to stay in your home long enough to break even, refinancing may not be worth it.

When rates dip below 6%, it’s an opportunity worth exploring, but the ultimate decision should depend on your current rate, financial goals, and how long you plan to stay in your home. Consult with a trusted lender to crunch the numbers and decide if refinancing is the right move for you. #NotFinancialAdvice

Nvidia shares fall as blockbuster results fail to dazzle

Nvidia’s $NVDA ( ▼ 5.46% ) Wednesday night earnings report showcased record-breaking performance, yet the company’s shares fell 5% on Thursday. Despite forecasting $78 billion revenue for the current quarter — surpassing Wall Street’s $72.1 billion expectations — and achieving $120 billion record profits last year, investor uncertainty about the future of the AI boom overshadowed its success.

CEO Jensen Huang remains confident. “Computing demand is growing exponentially…Our customers are racing to invest in AI compute," he said, butchering a verb and turning it into a noun, gerunding that puppy with blatant disregard. Analysts at TD Cowen told the Financial Times, “All systems [are] ‘go’ at Nvidia, but skepticism continues to pervade large-cap AI stocks.” Such concerns stem from Nvidia’s reliance on hyper-scalers like Microsoft $MSFT ( ▲ 0.28% ) , Google $GOOGL ( ▼ 1.76% ) , and Amazon $AMZN ( ▼ 1.29% ) , whose $660 billion AI infrastructure spending is more than the GDPs of Singapore, Austria, the United Arab Emirates, Thailand, Norway, the Philippines, Bangladesh, Vietnam, Malaysia, Denmark, and so on.

It’s almost as if nothing is enough for investors these days. It's like when you get your wife flowers on her birthday, and she complains because the restaurant you booked isn’t the right restaurant. Are you KIDDING ME? Hypothetically.

Quote of the Day

What AI execs tell their kids about future jobs

When the people building the future of AI are asked what their own children should study, they don't just point to coding bootcamps. Instead, leaders from Anthropic, Microsoft $MSFT ( ▲ 0.28% ) , and SAP $SAP ( ▲ 3.24% ) are emphasizing a surprising toolkit: humanity, agility, and the liberal arts, reports the Wall Street Journal.

It’s almost as if these AI people think AI is a load of old nonsense, ain’t t?

For Daniela Amodei, co-founder of Anthropic, the most valuable assets are emotional intelligence and connection. She told the Journal: “What’s not going to be replaceable is how you treat other people, how well you communicate with them.” Similarly, SAP’s Caroline Hanke argues that technical skills have a short shelf life, telling the journal: “Agility and openness to change…those will be the central skills I want my teenager to have.”

While Manny Medina of Paid.AI encourages his kids to explore high-growth sectors like nuclear energy and healthcare, his primary goal is mindset: “The part I want to make sure of is that they don’t look at AI as a threat,” he told the Journal.

For those worried about automation, the experts suggest staying "broad." Wharton professor Ethan Mollick believes “generalist jobs, where there are many different skills bundled together, are good jobs in an AI world.”

Like being a prison guard or working for ICE?

This is echoed by Microsoft’s Jaime Teevan, who advocates for deep thinking over quick answers, insisting that “a traditional liberal-arts education is really important” for fostering critical judgment.

Song of the Day: Dominique Fils-Aimé, ‘Phoenix Rising’