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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJPMorgan’s Gabriela Santos: The hard landing risk is always there, but it's decreasedGabriela Santos, JPMorgan Asset Management chief markets strategist for the Americas, joins 'Squawk Box' to discuss the latest market trends, the risk of hard landing, and more.
Persons: JPMorgan’s Gabriela Santos, Gabriela Santos Organizations: JPMorgan Asset Management
In a Poem, Just Who Is ‘the Speaker,’ Anyway?
  + stars: | 2024-05-08 | by ( Elisa Gabbert | ) www.nytimes.com   time to read: +1 min
The pages of “A Little White Shadow,” by Mary Ruefle, house a lyric “I” — the ghost voice that emerges so often from what we call a poem. Yet the I belonged first to another book, a Christian text of the same name published in 1890, by Emily Malbone Morgan. On another page, we read (can I say Ruefle writes? This method of finding an I out there, already typed, to identify with, seems to me not much different from typing an I. An I on the page is abstract, symbolic, and not the same I as in speech, which in itself is not the same I as the I in the mind.
Persons: Mary Ruefle, Emily Malbone Morgan, Ruefle “, Ruefle
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed's rate trajectory will be based on the economic data in Q2, says Citi’s Kristen BitterlyJPMorgan’s David Kelly, Citi’s Kristen Bitterly and Morgan Stanley’s Jim Caron, join ‘Power Lunch’ to react to today’s Fed meeting leaving rates unchanged.
Persons: Citi’s Kristen, David Kelly, Morgan Stanley’s Jim Caron Organizations: Fed
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s Fed panel react to the Federal Reserve’s unanimous decision to leave rates unchangedJPMorgan’s David Kelly, Citi’s Kristen Bitterly and Morgan Stanley’s Jim Caron, join ‘Power Lunch’ to react to today’s Fed meeting leaving rates unchanged.
Persons: David Kelly, Citi’s Kristen, Morgan Stanley’s Jim Caron Organizations: Watch, Federal, Fed
JPMorgan's calls for a "reality check" on the world's energy transition goals and pathway is a "sensible," the UAE's energy minister told CNBC. "We need always, whenever we put up predictions, especially long term ones, to have a reality check," Suhail Al Mazrouei told CNBC's Dan Murphy in Riyadh, Saudi Arabia on the sidelines of the World Economic Forum. In a recent note to client, JPMorgan warned that the world needed a "reality check" on its efforts to move from fossil fuels to renewables, pointing out that it could take "generations" to reach net-zero targets. "I think it's a very sensible article," said Al Mazrouei. The minister, however, highlighted that the circumstances and financial capabilities of each country on undertaking the energy transition goals will vary.
Persons: Al Mazrouei, CNBC's Dan Murphy Organizations: CNBC, Economic, JPMorgan Locations: Riyadh, Saudi Arabia, Ukraine
Don't be fooled by Monday's bounce, JPMorgan's Marko Kolanovic warned. The S & P 500 entered the week down more than 5% from an all-time high reached earlier in the year. A correction is generally defined as a 10% drop from a 52-week high. "Market concentration has been very high, and positioning extended, which are typically red flags, at risk of a reversal." "The combination of these macro factors increases the downside risks, and suggests that more Defensive trading should be appropriate," he added.
Persons: JPMorgan's Marko Kolanovic, Kolanovic,
His gloom, however, has also been consistently at odds with heady financial markets. In late 2022, for instance, he predicted economic bumps and, potentially, a severe recession for the next year; instead, the American economy boomed in 2023. Mr. Dimon has been among the few to say they are preparing for the possibility that interest rates will be raised again, a move that would suggest more extreme inflation than is currently being measured. Mr. Dimon made more extended remarks on the tricky environment in his annual letter to shareholders this week. JPMorgan also disclosed a fall in its so-called net interest income, a closely watched financial metric that essentially measures how much money it is able to make from lending.
Persons: Dimon, Organizations: Federal Reserve, JPMorgan Locations: United States, Ukraine
Jamie Dimon, one of the world’s most influential business leaders, is worried. The PE boom: The shrinking public market has private equity to blame — funds that pool money from investors to acquire or invest in companies. When a PE fund buys a public company, it takes that company private. The number of private companies in the US backed by PE firms has grown from 1,900 to 11,200 over the last two decades, according to JPMorgan data. Dimon’s company, of course, makes a huge amount of money from taking companies public, so he’s not exactly an impartial observer.
Persons: Jamie Dimon, , Matthew Kennedy, Dimon, , it’s, Russell, Lewis, Glass Lewis, Wells, aren’t, Matt Egan, Donald Trump’s, That’s, Reddit, , Read, Biden, Joe Biden’s, Sam Fossum, Anna Cooban, ” Biden Organizations: CNN Business, Bell, New York CNN, JPMorgan Chase, JPMorgan, Renaissance, PE, ” Companies, Companies, Harvard Law, Corporate, Institutional, Services, Deutsche Börse, Peloton Capital, CNN, ISS, Social, Trump Media & Technology Group, Trump, Trump Media, Twitter, White, Taiwan Semiconductor Manufacturing Company Locations: New York, United States, America, German, Arizona,
New York CNN —Dealmaking is big business on Wall Street. That made Goldman responsible for nearly a third of the total global M&A advisory market last year. But there are fits and starts to today’s market. What do the fits and starts mean? I go back to fits and starts with good underlying trends that momentum builds, but it’s not going to be a straight line.
Persons: New York CNN —, Goldman Sachs, Goldman, Stephan Feldgoise, we’re, we’ve, it’s, Jamie Dimon, , Dimon, JPMorgan Chase Organizations: CNN Business, Bell, New York CNN, Retail, JPMorgan Chase, International Monetary Fund, Industries, Nvidia, Microsoft, JPMorgan, Software, New Locations: New York, Oregon, Michigan, Arizona , Delaware, Florida , Iowa , Massachusetts, Wyoming
JPMorgan, the world’s largest bank by market capitalization, is exploring the potential of generative AI within its own ecosystem, said Dimon. “Over time,” wrote Dimon, “we anticipate that our use of AI has the potential to augment virtually every job, as well as impact our workforce composition. First Republic purchaseJPMorgan acquired most of First Republic’s assets last May after the San Francisco-based regional bank was seized by the government. Dimon wrote those odds are far too optimistic. “Small changes in interest rates today may have less impact on inflation in the future than many people believe,” he said.
Persons: Jamie Dimon, , Dimon, JPMorgan Chase, ” Dimon, Organizations: New, New York CNN, JPMorgan Chase, International Monetary Fund, Industries, Nvidia, Microsoft, JPMorgan, Software, San, First Republic, Silicon Valley Bank, Signature Bank, Markets, Traders, Federal Reserve Locations: New York, Republic, San Francisco, Silicon
New York CNN —YouTube says hundreds of thousands of creators are now earning a paycheck from posting short-form videos on the platform, as it ramps up its race to compete with rivals like TikTok and Instagram. It hasn’t been cheap: the Google-owned platform is shelling out tens of thousands of dollars to some of its top Shorts creators — like beauty influencer Sydney Morgan — every month. YouTube says the fresh data to its ability to incentivize existing creators to try out a new format — and to attract new users. “I make more from just YouTube Shorts (revenue) sharing in a month than I can make on other comparable platforms in a year,” she said. YouTube declined to share data around the total amounts it’s paid to creators for Shorts in the year since it added the feature to the YouTube Partner Program.
Persons: Sydney Morgan —, ” Amjad Hanif, Tara Walpert Levy, Meta, ” Hanif, “ You’re, “ It’s, , “ We’ve, ” Walpert Levy, , , Morgan, YouTubers, ” Morgan, Reddit, aren’t, Destin Sandlin, CNN he’s, ” Sandlin, Sandlin, Hanif, he’s, you’ve Organizations: New, New York CNN, YouTube, Google, Shorts, CNN, Facebook, Kodak, NASA Locations: New York, Instagram, United States
After building a global newspaper empire and witnessing the ratings and profits success of the right-wing Fox News Channel in the US, Murdoch sought to break into the UK television business, replicating the opinion-driven talk format. “A large proportion of our live viewing is already through streaming on televisions and we intend to continue to grow this. Clips will continue to be shared through social media,” Taunton said. “More and more, audiences are consuming video news and opinion online through their phones and this evolution is set to continue. “Creating professional quality, TV-like video that does well digitally – via streaming services and social media – will be the focus of future investment for all our brands, including Talk.”
Persons: Rupert Murdoch, Scott Taunton, , Murdoch, ” Taunton, Piers Morgan, Morgan, ” Morgan, that’s, Tucker Carlson, Don Lemon, It’s, Organizations: New, New York CNN, Fox News, CNN, Fox News Channel, BBC, Sky News, YouTube Locations: New York, TalkTV
Patti Smith Sings for a ‘New York Gem’
  + stars: | 2024-03-05 | by ( Alex Vadukul | Dolly Faibyshev | ) www.nytimes.com   time to read: +1 min
Over a century ago, J.P. Morgan built a majestic library for his opulent mansion in Midtown Manhattan. After his death, his son, the financier Jack Morgan, opened it to the public in 1924, and it eventually became the Morgan Library & Museum. Last night, crowds of art patrons and well-heeled bibliophiles gathered in that grand library to attend the Morgan’s centennial celebration. Servers wended through the crowd, carrying hors d’oeuvres trays of crescent duck and caviar as they passed shelves lined with rare editions of works by Rousseau and Voltaire. Devotees of the Morgan like the architect Peter Marino, the art dealer Vito Schnabel and the artist Walton Ford were in attendance.
Persons: Morgan, Jack Morgan, bibliophiles, Dante, Socrates, tuxedos, Keane, Taylor Swift, Rousseau, Voltaire, Peter Marino, Vito Schnabel, Walton Ford, Patti Smith, Jesse Paris Smith, Beatrix Potter, Peter Rabbit Organizations: Morgan Library & Museum Locations: Midtown Manhattan
Peter Anthony Morgan, the lead singer of the reggae band Morgan Heritage, a Grammy Award-winning group that was formed by children of the singer Denroy Morgan and came to be known for its varied influences and tight vocal harmonies, died on Sunday. Mr. Morgan’s family confirmed his death in a statement on the band’s social media platforms. Mr. Morgan, known as “Peetah,” started Morgan Heritage with seven of his siblings in the 1994. For some early albums, including “Protect Us Jah” (1997) and “Don’t Haffi Dread” (1999), Morgan Heritage worked with Bobby Digital, one of Jamaica’s most influential producers. Before a show at New York City’s Irving Plaza in 1999, a New York Times music critic wrote that the band “holds on to the 1970s reggae traditions of harmony singing and thoughtful messages.”
Persons: Peter Anthony Morgan, Morgan, Denroy Morgan, Morgan’s, , Morgan Heritage, Bobby Digital Organizations: Morgan Heritage, Associated Press, Irving Plaza, New York Times Locations: New
The bank, which already boasts the largest number of branches compared to its competitors in the United States, said it would open more than 500 new Chase branches and hire 3,500 employees in the next three years. JPMorgan said it plans to expand its footprint in cities like Boston, Minneapolis, and Charlotte, North Carolina. Morgan” branches, its higher-end offering for more affluent customers, across the country. Morgan” branches were previously First Republic branches, JPMorgan said. JPMorgan purchased most of First Republic Bank in May after it joined a string of regional bank failures in the spring of 2023.
Persons: JPMorgan Chase, we’re, , Marianne Lake, ” Jeremy Barnum, J.P, Morgan ” Organizations: CNN, JPMorgan, Chase, Bank of America, First Republic Bank Locations: United States, Boston , Minneapolis, Charlotte, North Carolina, Wells Fargo, Bankrate, New York, San Francisco, Republic
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s Fed panel react to the Federal Reserve’s interest rate decisionJPMorgan’s David Kelly, Citi’s Kristen Bitterly and Morgan Stanley’s Jim Caron, join 'Power Lunch' to discuss the Fed decision to keep rates unchanged.
Persons: David Kelly, Citi’s Kristen, Morgan Stanley’s Jim Caron Organizations: Watch
Mark Robinson remained the top fundraiser in the GOP primary campaign for North Carolina governor entering 2024, but a recent rival has used his own personal fortune to compete with him monetarily. Political Cartoons View All 253 ImagesMorgan’s campaign report said it raised $119,300 during the second half of 2023 and had $32,100 in cash entering January. Graham's campaign finance report said it had $161,600 in cash starting the new year. He was sitting on almost $1.3 million in cash entering January, which came in large part from $1 million he loaned his campaign last June. Robinson, in turn, has attacked Graham in speeches about his lawsuits involving hog farm operations in eastern North Carolina.
Persons: Mark Robinson, monetarily, Bill Graham, Graham, Josh Stein’s, Mike Morgan, Roy Cooper, Stein, Josh Stein, Robinson, Donald Trump, Dale Folwell, — Gary Foxx, Marcus Williams, Chrelle Booker —, weren’t, Folwell, Sen, Thom Tillis Organizations: — Republican, Gov, GOP, North Carolina, State Board, Republican, Associated Press, Democratic, Current Democratic, Israel Locations: RALEIGH, N.C, North, Salisbury, North Carolina
Washington, DC CNN —A slew of economic news this week will make it much clearer if the Federal Reserve will cut interest rates in March. The Labor Department is due to release four crucial assessments of America’s job market, gauging labor demand, wage growth, productivity and hiring. Wages and the Fed on Wednesday: The day after, the Labor Department releases its Employment Cost Index for the fourth quarter, a comprehensive measure of employers’ labor costs. The US Labor Department releases December data on job openings, quits, hires and layoffs. The US Labor Department releases its Employment Cost Index for the fourth quarter.
Persons: that’s, , Christian Scherrmann, Jerome Powell, ” Michael Feroli, , ” Feroli, Powell, Alicia Wallace, Joe Brusuelas, Jerome Powell’s Organizations: CNN Business, Bell, DC CNN, Federal Reserve, Labor Department, DWS, Labor, Survey, Fed, Employers, PCE, Federal, Commerce Department, RSM, Whirlpool, Microsoft, UBS, HCA Healthcare, General Motors, Cleveland Cliffs, Mondelez International, JetBlue Airways, Global, US Labor Department, Board, National Bureau of Statistics, Novo Nordisk, Mastercard, Novartis, Boeing, ADP, Nasdaq, Nomura Holdings, Apple, Shell, Honeywell, Deutsche Bank, Clorox, Quest Diagnostics, United States Steel, Bank of England, P Global, Institute for Supply Management, Exxon Mobil, AbbVie, Regeneron Pharmaceuticals, University of Michigan Locations: Washington, Marathon, Cleveland, Chevron
JPMorgan Chase is reshuffling its leadership team, a move that many consider a succession plan even though its longtime chief executive, Jamie Dimon, has signaled he’s staying put. Mr. Dimon, 67, has been head of what is now the largest bank in the United States for nearly two decades, and repeatedly brushed off suggestions that he might step aside. It said that Daniel Pinto, the bank’s chief operating officer and Mr. Dimon’s deputy, would no longer handle the bank’s daily operations. Ms. Piepszak, who co-heads JPMorgan’s massive consumer banking business, has long been seen as a potential candidate for the top job. Mr. Rohrbaugh had been one of the co-heads of the bank’s markets and securities business.
Persons: JPMorgan Chase, Jamie Dimon, he’s, Dimon, Daniel Pinto, Dimon’s, Pinto, ” Mr, Pinto’s, Jennifer Piepszak, Troy Rohrbaugh, Piepszak, Rohrbaugh Organizations: JPMorgan Locations: United States
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBuying at all-time highs historically has been a very good strategy, says JPMorgan’s Stephen ParkerStephen Parker, JPMorgan Private Bank head of specialized strategies, joins 'Squawk Box' to discuss the latest market trends, why he sees more room for markets to rally from here, the Fed's rate path decision, inflation outlook, and more.
Persons: JPMorgan’s Stephen Parker Stephen Parker Organizations: JPMorgan Private Bank
Climate catastrophes: Climate change is a hot topic as leaders meet to discuss balancing economic growth with sustainability. Davos comes just days after scientists around the globe reported that the average temperatures last year reached a new record high. The report also said that cooperation among global leaders on the issue is scarce. So while leaders will likely discuss the use of fossil fuels and green development, there may not be much agreement. Leaders gathered in Davos Sunday to discuss Ukrainian President Zelensky’s 10-point peace plan to end Russia’s war with his country.
Persons: Isaac Herzog, Volodymyr Zelensky, Emmanuel Macron, Li Qiang, Antony Blinken, Jake Sullivan, John Kerry, Satya Nadella, Sam Altman, Jamie Dimon, Brian Moynihan, Larry Fink, Donald Trump, , Philipp Hildebrand, CNN’s Richard Quest, ” “, ” Nicolai Tangen, CNN’s, , Kristalina Georgieva, OpenAI’s Altman, Microsoft’s, Zelensky’s, JPMorgan’s Dimon, Herzog, Klaus Schwab, Tami Luhby, Elon Musk, Bernard Arnault, Jeff Bezos, Larry Ellison, Warren Buffett, Nabil Ahmed, ” Ahmed, Jordan Valinsky, Comité Organizations: New, New York CNN, World Economic, National, Business, Microsoft, JPMorgan, Bank of America, BlackRock, Republican, GOP, ” BlackRock, Bank, Norges Bank, International Monetary Fund, IMF, State, Amazon, Oracle, Berkshire Hathaway, Oxfam, Workers Locations: New York, Davos, United States, Iowa, Europe, Taiwan, India, Mexico, China, Covid, Champagne, France
The biggest risks US businesses face in 2024
  + stars: | 2024-01-14 | by ( Bryan Mena | ) edition.cnn.com   time to read: +11 min
But, while businesses have plenty to be grateful for and much to be optimistic about, the coast isn’t clear. Last week, surveys from the National Federation of Independent Business (NFIB) and The Conference Board detailed the biggest risks that businesses are currently worried about. Here are some of the biggest risks for American businesses in 2024. Those financial stresses can reduce the willingness of banks to lend to others businesses and also to consumers,” she said. Bank earnings look really bad this quarter.
Persons: there’s, , John Maynard Keynes, , ” Dana Peterson, Bill Dunkelberg, ” Peterson, ” Suzanne Clark, We’re, Mike Johnson, Chuck Schumer, Fitch, Clark, JPMorgan Chase, Nicole Goodkind, Krystal Hur, FactSet, Martin Luther King Jr, Morgan Stanley, Goldman Sachs Organizations: CNN Business, Bell, DC CNN, Federal, National Federation of Independent Business, Board, US, of Commerce, of American, Conference Board, Conference, CNN, Fed, Corporate, US Chamber of Commerce, chamber’s State of American, AAA, Moody’s Investors Service, US Chamber, Commerce’s, Google, Citigroup, Bank, JPMorgan, FactSet, Revenue, Profit, Federal Deposit Insurance Corporation, Valley Bank, Signature Bank, Bank of America, FDIC, Citi, China’s National Bureau of Statistics, Alcoa, National Statistics, US Commerce Department, US Labor Department, Federal Reserve, University of Michigan, National Association of Realtors Locations: Washington, Wells, Corporate America, chamber’s State, BlackRock, Amazon, Argentina, Japan
JPMorgan’s profit was dragged lower by a one-time $2.9 billion charge the bank had to pay related to the crisis. Without that one-time payment, JPMorgan said its earnings would have come in closer to $3.97 per share, blowing estimates away. The bank reported fourth-quarter earnings of 35 cents per share, missing FactSet estimates of 53 cents per share. The bank said that without one-time fees, earnings for the quarter would have been about 70 cents per share. The bank reported an earnings loss of $1.16 per share for the fourth quarter, falling below earnings estimates of 11 cents per share, according to FactSet.
Persons: JPMorgan Chase, FactSet, , Organizations: New, New York CNN, JPMorgan, FactSet, Revenue, Profit, Federal Deposit Insurance Corporation, Valley Bank, Signature Bank, Bank of America, Citigroup, FDIC, Citi, CNN, Federal Deposit Insurance, FS, Locations: New York, Argentina, United States
Here are JPMorgan’s top stock picks heading into December
  + stars: | 2023-12-01 | by ( Brian Evans | ) www.cnbc.com   time to read: +1 min
JPMorgan Chase added a key information security stock to its list of favorite stock picks for December and parted with three names, including HP , from November . The firm added CyberArk to its Analyst Focus List, as well as biopharmaceutical firm Cytokinetics . The JPMorgan list covers its best stock ideas that fit into three categories: growth, value and short investment ideas. Here are some of the other top picks on the JPMorgan list. CYBR YTD mountain CyberArk stock.
Persons: JPMorgan Chase, Nicholas Rosato Jr, Rosato, — CNBC's Michael Bloom Organizations: JPMorgan, HP, Palo Alto Networks, North
This year’s DealBook Summit will include conversations with global leaders and powerful figures from Wall Street, Silicon Valley and Hollywood. Jamie Dimon has been the chief executive of JPMorgan Chase since 2006 and its chairman since 2007, making him one of Wall Street’s longest-serving banking leaders. Bob Iger returned as Disney’s chief executive last year, after stepping down from the role in 2020. David Zaslav orchestrated Discovery’s takeover of WarnerMedia and became the chief executive of the new company, Warner Bros. The transaction helped transform his modest cable television company into an empire that includes the Warner Bros. movie and TV studios, HBO and CNN.
Persons: Andrew Ross Sorkin, Kamala Harris, Ms, Harris, Biden’s, Tsai Ing, Tsai, Elon Musk, Musk, Jamie Dimon, Jensen Huang, chipmaker, Bob Iger, Long, Iger, Lina Khan, Khan, , David Zaslav, Jay Monahan, LIV Golf, Monahan, Kevin McCarthy, Mr, McCarthy, Shonda Rhimes, Rhimes Organizations: Wall, Israel, Elon, SpaceX, JPMorgan Chase, First, Nvidia, Fox, Marvel, Pixar, Hollywood, ESPN, Federal Trade Commission, Columbia Law, WarnerMedia, Warner Bros, HBO, CNN, Republican, Republican Party, Shondaland, Netflix Locations: Silicon Valley, Hollywood, United States, California, San Francisco, Gaza, Taiwan, China, First Republic, Saudi
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