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☆ 10 things to watch in the stock market Friday, including bank earnings and portfolio stock price target bumps
▼ + stars: | 2024-04-12 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

The bank reports $1.26 in earnings per share vs. $1.11 expected. A round of price target increases on Constellation Brands after its strong quarter and upside guide Thursday. Following the release and conference call, we reiterated our buy-equivalent 1 rating on shares and raised our price target to $300 from $270. A couple more price target cuts on Tesla . BMO starts coverage on the Novo Nordisk shares with a buy-equivalent outperform rating and a $163 per share price target.

Persons: Wells Fargo, Jefferies, Rosenblatt, Wells, Wedbush's Dan Ives, robotaxi, Eli Lilly, Jim Cramer's, Jim Cramer, Jim Organizations: Bank, JPMorgan, Citigroup, Constellation Brands, BMO, Devices, Arista Networks, Citi, EV, Boeing, Novo Nordisk, Jim Cramer's Charitable, CNBC Locations: China, Tesla, Wells Fargo

☆ Why gold prices are at record highs
▼ + stars: | 2024-04-09 | by ( John Towfighi | ) edition.cnn.com time to read: +6 min

Central banks see gold as a long-term store of value and a safe haven during times of economic and international turmoil. When interest rates fall, gold prices tend to rise, as bullion becomes more appealing than income-paying assets like bonds. Investors also regard gold as a hedge against inflation, betting bullion will retain its value when prices rise. The People’s Bank of China bought gold for the 17th straight month in March, adding 160,000 ounces to bring reserves to 72.74 million troy ounces of gold, according to Reuters. Higher oil prices are likely to stoke concerns over inflation, boosting gold prices, according to the UBS research note.

Persons: China —, Ulf Lindahl, Lindahl, Morgan, JP Morgan, Janet Yellen’s, Yellen, Mark Zandi, Jerome Powell, Wells, Richard Galanti, It’s Organizations: New, New York CNN, Investors, Federal Reserve, China, People’s Bank of China, Reuters, UBS, Research Associates, Moody’s, of Commerce, Costco Locations: New York, China, India, Turkey, Central, Wells Fargo

☆ JPMorgan research boss explains how immigration is changing the U.S. economic outlook
▼ + stars: | 2024-03-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJPMorgan research boss explains how immigration is changing the U.S. economic outlookJoyce Chang, chair of global research at JPMorgan, explains why the Wall Street giant is raising its U.S. economic growth forecasts, and discusses how immigration is affecting the outlook.

Persons: Joyce Chang Organizations: JPMorgan

☆ Vietnam to Extend Anti-Graft Drive as Police Reveal Real Estate Fraud Worth 3% of GDP
▼ + stars: | 2023-11-23 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +3 min

By Khanh Vu and Francesco GuarascioHANOI (Reuters) - Vietnam's top leader vowed to extend "for the long-term" an anti-corruption campaign that has had a chilling effect on the economy, after police revealed financial scandals in the real estate sector worth more than 3% of gross domestic product. Trong's remarks came after the police announced the outcome of months-long investigations into two financial scandals, revealing for the first time the scale of the fraud, worth a combined $12.8 billion, or 3.2% of the economy. The case had been widely publicised when My Lan was arrested in October last year and led to a crisis in the real estate sector and the market for corporate bonds, which she has been accused of issuing illegally in large amounts. The huge scale of the fraud had not been known until this week and has raised concern among financial experts about the impact on the banking sector. In September, the Asian Development Bank warned of potential spillover into banking from the crisis in the real estate sector as the ratio of non-performing loans increased.

Persons: Khanh Vu, Francesco Guarascio HANOI, Nguyen Phu Trong, Trong's, Truong My Lan, Van Thinh, Lan, Morgan, Moody's, Tan, Francesco Guarascio, Robert Birsel Organizations: Communist Party's, Van Thinh Phat Holdings Group, Stock Commercial Bank, Morgan Research, Asian Development Bank, Group Locations: Communist, Saigon, China

☆ Wall Street can breathe easy. ChatGPT isn't smart enough to be a financial analyst yet.
▼ + stars: | 2023-11-02 | by ( Aruni Soni | ) www.businessinsider.com time to read: +4 min

ChatGPT wouldn't be able to pass all levels of the exam required to get become a CFA. GPT-4 did better than ChatGPT and could pass the first two levels of the exam with enough prompting. According to a study, ChatGPT couldn't pass the chartered financial analyst exam—a benchmark qualification for many finance professionals across Wall Street. According to the CFA institute, only 38% of test-takers who took the level one exam in February 2023 passed. "GPT-4 would have a decent chance of passing the CFA Level I and Level II if prompted with [few shot] and/or [chain of thought scenarios]," the researchers wrote.

Persons: wouldn't, ChatGPT, —, couldn't, OpenAI —, it's Organizations: CFA, JPMorgan, Service, Wall

☆ America's poorest workers are getting raises, but 80% of their spending is on increasingly pricey basic needs
▼ + stars: | 2023-10-17 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +6 min

This comes even as real wages are growing faster for lower-income Americans. AdvertisementAdvertisementThat comes even as real wages are growing faster for lower-income Americans than those with higher incomes. But even as lower-income Americans continue to see wage growth outpace inflation, it's not helping them as much as some believed it would. While most Americans who received salary raises did increase their discretionary spending, Americans are cautious about navigating the economy. AdvertisementAdvertisementGiven that lower-income Americans are on the whole hurting for cash, this data suggests Americans are bracing up for more economic pain in the coming months.

Persons: —, Morgan, J.P, It's, they'd, it's Organizations: Service, Bureau of Labor Statistics, Workers, Economic Policy Institute, Dallas Fed, of Labor Statistics Locations: Morgan

☆ Jim Cramer says off-price retailer TJX is still a buy even after crushing the market over the past 12 months
▼ + stars: | 2023-09-28 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +1 min

A shopper carries a bag outside a TJ Maxx store in New York, U.S.TJX Companies (TJX) is a stock worth buying here, CNBC's Jim Cramer said Thursday. While this dynamic may also benefit rivals Ross Stores (ROST) and Burlington (BURL), Cramer said he believes TJX is the clear winner in the category. "I think people should buy the stock," Cramer said on "Squawk on the Street." Over the past 12 months, the stock has climbed more than 40%, significantly outperforming the S&P 500 over that stretch. If you like this story, sign up for Jim Cramer's Top 10 Morning Thoughts on the Market email newsletter for free.

Persons: CNBC's Jim Cramer, Cramer, TJX, Jim Cramer's, Matt Boss Organizations: TJ Maxx, TJX, Marshalls, Ross Stores, Burlington, Trust, CNBC, JPMorgan Locations: New York, U.S, Maxx, TJX

☆ Bitcoin miners beef up Texas operations ahead of extinction-level event, exclusive data shows
▼ + stars: | 2023-09-26 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +12 min

Bitcoin miners are barreling toward the "halving" — a major market-making event that some fear will be a death knell to many in the industry. "We're taking a long-term bet on bitcoin and on the fact that bitcoin mining will survive and will bounce back even stronger." Texas has grown to dominate bitcoin mining partly because of support from local authorities and the operator of the Texas energy grid, ERCOT. Even during the bear market, Texas miners are building out, buying new sites and fresh fleets of hardware. The mining company was spun off from Chinese bitcoin mining giant Bitmain and went public via SPAC earlier this year.

Persons: Kevin Zhang, Jihan Wu, Bitmain, Kevin Zhang Crypto, He's, China — he's, Zhang, bitcoin, Barry Silbert's, Foundry's, —, Chad Harris, ERCOT, Nic Carter, Shaun Connell, Brad Jones, Brandon Arvanaghi, Jason Les, Navarro, Les, hashrate, Morgan, Bitdeer Organizations: Foundry, Mining, CNBC, U.S, Riot, Cipher Mining, Georgia, Securities Exchange Commission, JPMorgan Chase Locations: Sweden, Republic of Georgia, China, America, Beijing, Shenzhen, Montana, North America, Texas, Wyoming, New York, United States, U.S, . Texas, Castle, Rockdale, Austin, Milam, Odessa , Texas, Minden , Nebraska, , Texas, New Hampshire, Pennsylvania, Nebraska, North Carolina , Kentucky , Oklahoma, Washington

☆ Morgan Stanley has tech to thank for what could boost a long-dormant part of its business
▼ + stars: | 2023-07-17 | by ( Morgan Chittum | ) www.cnbc.com time to read: +6 min

Morgan Stanley (MS) is set to report quarterly earnings before the opening bell Tuesday. While working on a transition to depend more on wealth management, investment banking is still an important aspect of Morgan Stanley's overall business. Morgan Stanley had a hand in the Cava IPO as a book-runner. It pays us to be patient with the stocks of Morgan Stanley and Wells Fargo, which have been underperformers year-to-date compared to the S & P 500 . Morgan Stanley will likely benefit as companies turn to its investment banking services for ambitious deals.

Persons: Morgan Stanley, There's, Morgan, Morgan Stanley's, Goldman Sachs, Jim Cramer, Jim, Lina Khan, Activision Blizzard, IPOs, Wells, dealmakers, there's, Jim Cramer's, Bing Guan Organizations: Investment, JPMorgan, IB, Federal Trade, Microsoft, Activision, Renaissance Capital, Companies, Semiconductor, ARM Holdings, Silicon Valley Bank, Federal Reserve, Club, Nasdaq, CNBC, Bloomberg, Getty Locations: Cava, Silicon, Wells Fargo, U.S

☆ Jamie Dimon is riding to the rescue again. This time, he's poised to come out on top.
▼ + stars: | 2023-03-31 | by ( Carter Johnson | ) www.businessinsider.com time to read: +15 min

Why, then, has Dimon been so willing to swing back into action in the wake of Silicon Valley Bank's collapse? But it's starting to look like JPMorgan — and Dimon — will end up winners no matter how things turn out. In backstopping First Republic, JPMorgan helps a client and a bank that experts say would fit nicely into its business. By saving First Republic, JPMorgan also stands to gain goodwill from Silicon Valley startups, which are customers of the smaller bank. The paper also reported that regulators asked Dimon, Bank of America, and other banks to buy Silicon Valley Bank and pay out depositors over the insured limit.

☆ Cramer on why investor sentiment around Amazon is near 'multi-year lows,' according to JPMorgan
▼ + stars: | 2023-03-16 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCramer on why investor sentiment around Amazon is near 'multi-year lows,' according to JPMorganMad Money host Jim Cramer looks at a JPMorgan research report on Amazon, which says investor sentiment in the company is near 'multi-year lows.'

☆ 'Compelling' and 'attractive': These stocks are firing on all cylinders, JPMorgan says
▼ + stars: | 2022-11-19 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Analysts at JPMorgan said this week there's a whole host of stocks that they say are flying under the radar. CNBC Pro combed through top JPMorgan research to find some unique stocks that are just too compelling to ignore. At the same time, Allstate's low stock valuation is "compelling," with a "depressed multiple on depressed earnings." With visibility improving, now's the time to buy the stock, JPMorgan concluded. ... .Our positive view reflects an expected recovery in margins & ALL's compelling valuation.

☆ China, Russia to drive 10% default pain for 'junk-rated' EM firms - JPMorgan
▼ + stars: | 2022-11-08 | by ( Marc Jones | ) www.reuters.com time to read: +3 min

Their woes will also mean emerging markets overall will see a more than 10% "high-yield" corporate default rate for another year, keeping it at more that triple the historical average. "We expect another high default year in 2023 focused on specific segments," JPMorgan's analysts said in a research note on Tuesday that describes China and Russia as the "trouble spots". China's battered property sector is forecast to have another eye-watering 46% default rate next year. The overall emerging market corporate default rate, once financially healthier "investment grade" companies are also included, is forecast to be 3.8%. Distressed bonds, classed as those trading below 70 cents on the dollar - or 30% below their face value - currently total $178 billion or 27.7% of EM corporate high yield outstanding bonds.

☆ From quantum computing to augmented reality, here's how 10 top Wall Street firms are looking to use cutting-edge tech
▼ + stars: | 2022-09-26 | by ( Carter Johnson | Bianca Chan | ) www.businessinsider.com time to read: +3 min

JPMorgan is preparing for a quantum futureDavid Castillo, Andrew J. Lang, and Marco Pistoia. The difference could allow users of the tech to process algorithms and execute calculations at blistering speeds. That's because quantum computing uses quantum mechanics, a kind of physics that leverages quantum bits, or qubits, instead of ones and zeros used by classic computers. But JPMorgan researchers say there are signs the industry is getting close to the point where quantum computers can process real-world problems faster than classic computers, often referred to as quantum advantage. The platform, run by Castillo, is also hardware-agnostic, meaning it can interface with quantum computers from different providers without needing to rewrite the application code.

☆ JPMorgan is trying to harness the power of quantum-computing to solve problems at lightning speed, from options pricing to fraud detection
▼ + stars: | 2022-09-08 | by ( Bianca Chan | Carter Johnson | ) www.businessinsider.com time to read: +5 min

As an emerging alternative to the traditional computer, JPMorgan execs believe quantum computing could upend how finance firms perform computations. Unlike classical computers, which can store only a one or a zero, quantum computers use quantum bits, or qubits. Qubits can store multiple values at the same time, which theoretically gives the quantum computers big speed advantages. Meanwhile, Fidelity has been exploring the potential of quantum computing in wealth management. Wells Fargo, too, has invested in quantum computing to process complex data structures used for fraud detection.

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