TikTok to start labeling AI content

TikTok says it’s going to start automatically labeling content that’s made by artificial intelligence when it’s uploaded from certain platforms. TikTok says its efforts are an attempt to combat misinformation from being spread on its social media platform.

TikTok’s policy in the past has been to encourage users to label content that has been generated or significantly edited by AI. It also requires users to label all AI-generated content where it contains realistic images, audio, and video.

S&P 500 back near 1% of its record

U.S. stocks rose to pull the S&P 500 back within 1% of its record following a rough April. The index climbed 0.5% Thursday. The Dow Jones Industrial Average rose 0.8%, and the Nasdaq composite gained 0.3%.

Helping to keep the market steady was a report showing a rise in the number of U.S. workers applying for unemployment benefits, though it remains low compared with history.

Treasury yields eased after the report raised hopes that the Federal Reserve will cut interest rates this year. Across the Atlantic, the Bank of England hinted a cut to its key rate may come soon.

Report: Guns being stolen more frequently

The rate of guns stolen from cars in the U.S. has tripled over the last decade, making them the largest source of stolen guns in the country.

That’s according to an analysis of FBI data by the gun safety group Everytown. The rate of stolen guns from cars climbed nearly every year and spiked during the coronavirus pandemic along with a major surge in weapons purchases.

The findings are in a report provided to The Associated Press that analyzed FBI data from 337 cities in 44 states. The director of the Bureau of Alcohol, Tobacco, Firearms and Explosives says the alarming trend underscores the need for Americans to safely secure their firearms.

Low-income spenders showing strain

Cracks are showing in one of the main pillars keeping the economy out of a recession: resilient spending by U.S. households. Consumer goods giants from PepsiCo to Kraft Heinz have been describing recently how the combination of high inflation and higher interest rates is hurting their lower-income customers.

Overall spending by U.S. consumers remains healthy, but weakness at the bottom end of the income spectrum could be a warning signal of more pressure to come.

Much of the commentary recently has come from big food and drink companies. Upcoming reports from Walmart, Dollar General and other retailers will offer more details.