The model race: Meta unveiled its new Muse Wonder and Muse Wonder Full AI models, which the company says match or outperform offerings from OpenAI and Anthropic on several benchmarks, marking a major step in its effort to compete with leading AI developers. Trained using Meta’s gigawatt-scale Prometheus data center, the models emphasize capabilities such as remembering user preferences across conversations, completing complex tasks independently and performing specialized work in coding, law, finance and health care. The launch tests Meta’s substantial investments in AI talent and infrastructure, though questions remain about independent performance results, privacy and security risks. Axios has the full story.
Initial filings rise: Louisiana’s initial unemployment claims rose 3.3% to 1,179 for the week ending Oct. 3, but remained about 24% below the same week last year. Continued claims fell for the ninth consecutive week, declining 3.7% to 5,473, roughly 34% below the year-earlier level. The four-week moving averages for both measures, which smooth out volatility and random fluctuations, also declined. The Center Square has the full story.
Nearing 12-year low: The return of mortgage rates above 7% has sharply slowed the U.S. housing market, with pending home sales falling 4% in September to their lowest level since 2014 outside the early COVID-19 pandemic and housing inventory reaching its highest point since March 2020. Rising borrowing costs have shifted leverage toward buyers, prompting nearly one in five sellers to cut asking prices and a record 14.5% of purchase agreements to fall through, according to Redfin. Bloomberg has the full story.
