2 hours ago
Jamie Dimon feels ‘a bit of a bubble’
According to Reuters, JPMorgan CEO Jamie Dimon believes a “bit of a bubble” is forming in the stock market. Mr Dimon reportedly made the comments at the Australian Financial Review’s Business Summit.
He added that the Fed should wait until June to cut rates.
“You can always resolve it quickly and dramatically. Their credibility is at stake here a little bit. I would wait past June and let everything be resolved,” Dimon said. Told.
— Yun Lee
2 hours ago
JP Morgan’s Kolanovic: “Stay on the defensive”
JPMorgan’s Marko Kolanovic, one of Wall Street’s top equity strategists, is advising his clients to remain defensive in the stock market as the rally shows signs of stalling.
“With valuations aplenty, the market is pricing in perfection, and extreme crowding into momentum stocks risks a sharp correction in this factor,” JPMorgan’s chief global market strategist said in a note.
He also said the market was ignoring “significant geopolitical and political risks.” But he thinks inflation could pick up unexpectedly, which could keep the Fed’s target interest rate high for an extended period of time.
— Yun Lee
2 hours ago
Oracle stock soars after earnings
A view of Oracle headquarters in Redwood Shores, California, September 11, 2023.
Justin Sullivan | Getty Images
Oracle shares soared more than 12% in after-hours trading after fourth-quarter results beat analysts’ revenue expectations. Revenue from the company’s largest business, Cloud Services and License Support, rose 12%. However, revenue was slightly lower than expected.
— Yun Lee
