24 August 2020

1) Despite being in a major recession with unemployment hovering around 22 million, the home sales market is on fire, last month setting a record 24.7% increase compared with June. While the housing market was all but frozen this spring, surprisingly it has rebound from the effects of the pandemic crisis. The previous record for sales was set in 1968 with a 20.7% rise. Furthermore, all regions of the country reported strong sales of homes. One factor is considered that all the work at home has homeowners looking for larger houses. The strong sales is driving prices upward, with the median price of homes up 8.5% from July, now at $304,100. This is the 101st straight month of increasing prices.

2) AI (Artificial Intelligence) has made significant inroads in competing with humans to do tasks better and faster. In a field most people would consider as strictly a human endeavor- Dog fighting, or aerial combat where fighter aircraft chase each other through the sky trying to shoot each other down, now has AI systems to replace people. An AI system developed by Heron Systems went against a human F-16 fighter pilot in simulated air combat and defeated him 5-0. The simulation was limited to the nose cannon only, no missiles allowed. A couple of years ago, Boeing Aircraft said they were developing robot airliners which flew by themselves- no pilots!

3) Researchers have created a minuscule robot beetle, weighing only 88 milligrams, that can operated for two hours without a battery. The machine runs on liquid methanol that powers its artificial muscles allowing it to carry 2.6 times its body weight. The artificial muscles are called ‘catalytic artificial micro-muscle’, that uses special metals that allows the use of methanol to generate power to a micro-machine. While the RoBeetle is just a demonstration of a technology, it shows that power can be derived without the use of conventional batteries, which limit the size and weight of micro-robots.

4) Stock market closings for – 21 AUG 20:

Dow 27,930.33 up 190.60
Nasdaq 11,311.80 up 46.85
S&P 500 3,397.16 up 11.65

10 Year Yield: down at 0.64%

Oil: down at $42.25