2 Hours Ago
Jamie Dimon sees ‘a little bit of a bubble’
JPMorgan CEO Jamie Dimon believes there’s “a little bit of a bubble” forming in the stock market, according to Reuters. Dimon reportedly made the comments at the Australian Financial Review business summit.
He added that the Federal Reserve should wait past June before cutting interest rates.
“You can always cut it quickly and dramatically. Their credibility is a little bit at stake here. I would even wait past June and let it all sort it out,” Dimon said.
— Yun Li
2 Hours Ago
JPMorgan’s Kolanovic says stay defensive
One of Wall Street’s top stock strategists, Marko Kolanovic of JPMorgan, is advising clients to stay defensive in the stock market as the rally showed signs of stalling.
“Markets are priced for perfection as valuations are rich, and extreme crowding in momentum stocks risks a sharp correction in this factor,” JPMorgan’s chief global markets strategist in a note.
He also said the market is ignoring “substantial geopolitical and political risks.” Meanwhile, he believes that inflation could surprise to the upside, which could keep the Fed’s target rate higher for longer.
— Yun Li
2 Hours Ago
Oracle shares surge after earnings
A view of Oracle headquarters on September 11, 2023 in Redwood Shores, California.Â
Justin Sullivan | Getty Images
Oracle shares popped more than 12% in extended trading after fiscal fourth-quarter results topped analysts’ earnings estimates. The firm’s cloud services and license support segment, its largest business, saw a 12% increase in revenue. However, revenue came in a bit light of expectations.
— Yun Li
