JPMorgan Sees ‘Froth’ in US Stocks, While Goldman Says Rally Justified
Marko Kolanovic warns equities, Bitcoin prices rising too fast Goldman’s Kostin says valuations supported by fundamentals Are US stocks forming a bubble? It depends on who you ask. To JPMorgan Chase & Co.’s chief market strategist Marko Kolanovic, the dramatic...
China Calls Out US for ‘Classic Protectionism’ in Tension Over EVs
China became world’s biggest vehicle exporter in 2023 US could impose limits on China EVs, Bloomberg has reported China charged the US with engaging in protectionist trade measures amid signs that Washington is prepared to step up efforts to keep Chinese electric...
Morgan Stanley Offers Pre-IPO Share Trading to Wealth Clients
Unit to offer private shares to accredited investors Valuations of private firms like OpenAI, SpaceX have jumped Morgan Stanley’s wealth management arm is giving its clients a chance to buy and sell coveted shares of private companies before they are available to the...
Global Supply Chains and U.S. Import Price Inflation
Inflation around the world increased dramatically with the reopening of economies following COVID-19. After reaching a peak of 11 percent in the second quarter of 2021, world trade prices dropped by more than five percentage points by the middle of 2023. U.S. import...
World-Beating Mining Stock Turns Big Loser Thanks to China Slump
Fortescue tipped for biggest earnings decline among peers Shares have faltered recently after months-long climb Iron ore behemoth Fortescue Ltd.’s months-long stock rally suffered a big pullback in February as investors turned sour on the company’s earnings growth and...
Beijing Is Expected to Unveil GDP Target Around 5% — A Goal Now Harder to Achieve
Premier Li Qiang will deliver government work report at NPC Investors will scrutinize policy priorities as economy falters China is set to announce its 2024 growth target and outline its strategy for supporting the slowing economy at the nation’s most high-profile...
The Dark Side of Generative AI: Why We Must Ban Them Now!
Ban generative AI? Wait, what? Nonsense! Except that Paizo, publisher of popular tabletop role-playing games (TTRPG) like Pathfinder and Starfinder, said it is banning AI-created work and would update its contracts in the coming days to mandate that any work submitted...
Sorry, Fed, Most US Mortgage Rates Were Locked In During Pandemic Lows
More than 40% of all US mortgages were originated in 2020 or 2021, when the pandemic drove borrowing costs to historic lows and triggered a refinancing boom, according to data from Black Knight. That’s good news for all the homeowners who locked in cheap loans — but...
Crafts Retailer Joann Is Planning a Bankruptcy Filing That Would Hand Keys to Lenders
Company may file for Chapter 11 as soon as next week Fabrics chain has been in talks with lenders for new cash Crafts retailer Joann Inc. is considering a bankruptcy filing as soon as next week as part of a deal that would hand control of the company to lenders while...
Google’s AI blunder shows risks in scramble to catch up to Microsoft
The market buzz around generative AI comes with heightened scrutiny, as Google (GOOG, GOOGL) was painfully reminded for the second time. The search giant said this week that it plans to relaunch its Gemini AI image generator after some users on social media showed how...
Charting the Global Economy: US, Europe Inflation Stays Elevated
Inflation remains elevated in the US and euro-zone, supporting assertions from central bankers in both regions that it’s too soon to start cutting interest rates. The Federal Reserve’s preferred gauge of underlying inflation rose in January by the most in a year,...
US Consumer Sentiment Posts Surprise Drop From Initial Reading
University of Michigan preliminary and final readings diverged Consumers still think inflation is cooling, survey says US consumer sentiment faltered in late February as current views of the economy and the outlook deteriorated, marking a reversal from earlier in the...
US Manufacturing Gauge Drops as Industry Struggles for Momentum
ISM factory index declined 1.3 points in February to 47.8 New orders, production and employment measures decreased A measure of US factory activity shrank at a faster pace in February as orders, production and employment contracted, suggesting manufacturing is...
Alphabet Faces ‘Clear and Present Danger’ of Falling Short in AI
Errors with AI responses have contributed to stock weakness The problems have overshadowed its growth and lower valuation The only thing that matters to Alphabet Inc. investors is whether it can get artificial intelligence right. That was the message delivered this...