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6 mentions found


☆ Investors are 'overconfident' about the impact of A.I., strategist says
  + stars: | 2023-08-11 | by ( Elliot Smith | ) www.cnbc.com   time to read: +3 min
"And we've had a dawning awareness of how things have sped up in terms of generative AI. Market participants are "overconfident" about their ability to predict the long-term effects of AI, according to Mike Coop, chief investment officer at Morningstar Investment Management. "Having said that, the prices have run so hard that it looks to us that really people are overconfident about their ability to forecast how AI will impact things." In what he dubbed a "dangerous point for investors," Coop stressed the importance of diversifying portfolios and remaining "valuation aware." "Be cognizant of just how high a price is being paid for the promise of what AI may or may not deliver for individual companies," Coop concluded.
Persons: we've, Coop, CNBC's, Mike Coop, Morningstar Organizations: Nvidia, Facebook, Tesla, Morningstar Investment Management, Google Locations: what's, U.S
☆ UK economy posts surprise second-quarter growth as households kept spending
  + stars: | 2023-08-11 | by ( Jenni Reid Elliot Smith | Jenni Reid | Elliot Smith | ) www.cnbc.com   time to read: +3 min
LONDON — The U.K. economy beat expectations with 0.2% growth in the second quarter, boosted by household consumption and manufacturing output, the Office for National Statistics said Friday. The economy expanded by 0.5% in June, beating a forecast of 0.2% growth. It follows monthly GDP growth of 0.1% in May and 0.2% in April. Output was bolstered by 1.6% growth in manufacturing and 0.7% in production in the second quarter, while services grew by 0.1%. In its most recent monetary policy report, it said it expects quarterly GDP growth to remain around 0.2% in the near term.
Persons: eking, King Charles III, Mike Coop, CNBC's, Coop, Jeremy Hunt, BoE, Ruth Gregory Organizations: National Statistics, Reuters, Bank of, ONS, Morningstar, Bank of England, of England, IMF, Finance, Capital Economics Locations: Germany, France, Italy
☆ Market is overconfident in its ability to forecast the A.I. trend, strategist says
  + stars: | 2023-08-11 | 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 EmailMarket is overconfident in its ability to forecast the A.I. trend, strategist saysMike Coop, chief investment officer at Morningstar Investment Management, discusses the U.S. stock market rally and advises investors to be wary about its concentration around a handful of A.I.-related stocks.
Persons: Mike Coop Organizations: Morningstar Investment Management
☆ London stocks slip as UK's high inflation raises bets for BoE hike
  + stars: | 2023-04-19 | by ( Shristi Achar A | Thomson Reuters | Shristi Is A Correspondent | ) www.reuters.com   time to read: +2 min
The blue-chip FTSE 100 (.FTSE) fell 0.4%, while the mid-cap FTSE 250 (.FTMC) was down 0.8%, as of 0820 GMT. Data showed Britain now has Western Europe's highest rate of consumer price inflation, after a weaker-than-expected fall in March to 10.1% from February's 10.4%. The FTSE 100 clocked its longest winning streak since December 2020 on Tuesday, buoyed by defensive and commodity-linked stocks. Food, beverages and tobacco sector (.FTUB4510) was a bright spot, up 0.8% on the heels of sticky inflation numbers. Leading losses on the FTSE 250 was Liontrust Asset Management Plc (LIO.L), down 5.5% as the asset manager reported significant quarterly net outflows.
☆ SVB: What the worst bank failure since 2008 means for markets, the financial sector, and interest rates
  + stars: | 2023-03-14 | by ( Zahra Tayeb | ) www.businessinsider.com   time to read: +8 min
Here's what SVB's sudden demise means for markets, the US banking sector, and interest rates. That capped a turbulent week that saw a botched fundraising attempt by Silicon Valley Bank (SVB) and a $1.8 billion loss on its bond holdings, which ultimately triggered an old-fashioned bank run. Silicon Valley Bank's collapse exposed a serious risk many banks face in their business portfolios – the dependence on uninsured deposits. However, former Treasury chief Larry Summers took a less pessimistic view, saying SVB's collapse was "unlikely to be a broadly systemic problem." But as bad as it is, it's unlikely to trigger a repeat of the 2008 global financial crisis that set the stage for the Great Recession, according to analysts.
☆ VIEW Bank of England raises rates to 3.5%, says inflation has peaked
  + stars: | 2022-12-15 | by ( ) www.reuters.com   time to read: +7 min
LONDON, Dec 15 (Reuters) - The Bank of England on Thursday raised interest rates by a widely expected 50 basis points (bps) to 3.50%, in its ninth straight increase - and its eighth this year. UK rates began rising in December 2021, making the BoE the first of the world's major central banks to kick off a monetary policy-tightening cycle. MONEY MARKETS: Interest rate swaps showed investors expected rates to peak at 4.46% by next August, compared with an anticipated terminal rate of 4.53% just before the decision. Their own numbers have been pointing to a recession for a little while, and they've still materially hiked interest rates. EDWARD HUTCHINGS, HEAD OF RATES, AVIVA INVESTORS, LONDON:"The Bank of England duly delivered on financial markets expectations of a 0.50% hike.
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