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☆ MicroStrategy's debt-fueled bitcoin purchases helping drive froth, raising risk of downturn, JPMorgan says
▼ + stars: | 2024-03-19 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

"In our mind, these debt-funded bitcoin purchases add froth to the current crypto rally by raising the risk of severe deleveraging in a potential downturn in the future," he added. MicroStrategy raised $604 million from the sale of converts on March 18, and another $800 million on March 8 . The latest purchases mark an acceleration from the fourth quarter pace, when MicroStrategy bought more than $1 billion of bitcoin. Originally launched as an enterprise business software company, Microstrategy has been buying bitcoin and holding them on its balance sheet since 2020. It largely trades as a proxy for the price of bitcoin, and in February of this year leaned into that, rebranding itself a Bitcoin development company.

Persons: JPMorgan's Marko Kolanovic, MicroStrategy, Microstrategy, Kolanovic, bitcoin, — CNBC's Michael Bloom Organizations: Momentum Locations: bitcoin, cryptocurrencies

☆ JPMorgan is staying steadfastly bearish, saying market ignoring substantial risks
▼ + stars: | 2024-03-12 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

JPMorgan is sticking to its bearish thesis amid a more optimistic outlook on Wall Street, saying investors are ignoring key market risks. The Wall Street firm is an outlier among the major banks when it comes to year-end forecasts. As of Monday's close, JPMorgan expects the S & P 500 will tumble more than 17% to its 2024 target of 4,200, according to CNBC's market strategist survey . The S & P 500 has repeatedly notched all-time highs on the back of the artificial intelligence trade. The AI beneficiary, which has been a major driver for the S & P 500's gains this year, could drag the benchmark should it start to sell off.

Persons: Marko Kolanovic, Goldman Sachs, David Kostin, America's Savita Subramanian, Kolanovic, NVDA Organizations: JPMorgan, Bank, America's, Nvidia Locations: Gaza, Ukraine

☆ Markets are hitting record highs. And economists like El-Erian and Krugman can't shake off their fears
▼ + stars: | 2024-03-08 | by ( Zahra Tayeb | ) www.cnbc.com time to read: +4 min

Stellar prices for gold have also stolen investor attention, with the precious metal scaling a new record of over $2,100. The record-breaking numbers for markets, however, haven't stopped some investors from worrying about three key issues. Inflation resurgenceAfter months of cooling, U.S inflation is proving itself to be more stubborn than experts had predicted. That's despite the Federal Reserve embarking on an aggressive monetary policy campaign over the past year, in a bid to tame consumer price pressures from their 40-year highs. Ariel Investments' Vice Chair Charlie Bobrinskoy told CNBC markets are not focused on China's residential real estate problems.

Persons: Michael M, haven't, Nobel, Paul Krugman, Mark Zandi's, Mark Zandi, Krugman, Nouriel Roubini, Doom, Trump, Marko Kolanovic, Mohamed El, Erian, Ariel, Charlie Bobrinskoy Organizations: New York Stock Exchange, Santiago, Federal, stoke, Allianz, Bloomberg, CNBC, El, Ariel Investments Locations: New York City, U.S, China

☆ Bitcoin's record-breaking run could postpone Fed rate cuts, JPMorgan says
▼ + stars: | 2024-03-07 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

The soaring price of bitcoin could delay the Federal Reserve's plans to cut interest rates, according to JPMorgan. The bank said signs of froth in risk assets like bitcoin could lead to higher for longer interest rates. AdvertisementThe record rally in bitcoin could lead the Federal Reserve to delay its planned interest rate cuts later this year, according to JPMorgan. That froth could ultimately drive the Fed to hold off on its planned interest rate cuts, which are often stimulative for risk assets, as it could unleash another round of inflation. "This may keep monetary policy higher for longer, as premature rate cutting risks further inflating asset prices or causing another leg up in inflation," Kolanovic said.

Persons: Marko Kolanovic, Kolanovic, Christopher Waller Organizations: JPMorgan, Federal Reserve Locations: bitcoin

☆ The war in Ukraine in 12 key moments
▼ + stars: | 2024-02-24 | by ( Sophie Tanno | ) edition.cnn.com time to read: +13 min

We’ve been taking a look at some of the most significant moments of the war so far. Putin’s announcement signaled the start of Russia’s war in Ukraine, which has so far cost the lives of over 10,300 civilians, according to the United Nations. May 20, 2023: Russia takes control of BakhmutUkrainian army medics treat wounded soldiers at a stabilisation point near Bakhmut frontline. June 2023: Ukraine counteroffensiveUkrainian soldiers shoot rounds into Russian positions with an S60 anti-aircraft canon placed on a truck, outside Bakhmut. February 8, 2024: Ukraine military chief firedCommander-in-Chief of the Armed Forces of Ukraine Valerii Zaluzhnyi during an event dedicated to Ukraine's Independence Day on August 24, 2023 in Kyiv.

Persons: Vladmir Putin, Putin, We’ve, ’, Volodymyr Zelensky, Pavel Klimov, ”, Marko Djurica, Russia's, Kolya Serga, Ed Ram, Sefa, Diego Herrera Carcedo, Moscow, Bakhmut, Wojciech Grzedzinski, Wagner, Prigozhin, Reuters Yevgeny Prigozhin, Russia’s Wagner, Alexander Lukashenko, Mike Johnson, Samuel Corum, Ukraine Valerii, Yan Dobronosov, Zelensky, Ukraine’s, General Valerii Zaluzhnyi, CNN’s Jennifer Hauser, Victoria Butenko, Daria Tarasova, Andrew Carey Organizations: CNN, NATO, Reuters, Ukraine, United Nations, Presidential Press, Snake, Social Media, Anadolu Agency, Concord, Putin, Getty, Republican, Armed Forces, Moscow Locations: Russia, Ukraine, Moscow, Russia’s, Kyiv, United States, Russian, West, Dnipro, Hroza, Kharkiv, Bucha, Moskva, Crimea, Kherson, Ukrainian, Kremlin, Belgorod, Bakhmut, NATO, Robotyne, Mariupol, Washington , DC, Avdiivka

☆ A fund manager beating 98% of his peers over the last 10 years breaks down why the stock market resembles the 'Nifty 50' bubble of the 1970s, when the market's biggest names got crushed as inflation s
▼ + stars: | 2024-02-22 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Disco is backOthers have also started to compare today's market and the 1970s' "Nifty Fifty." AdvertisementJPMorgan's Chief Global Strategist Marko Kolanovic also said in a note on Wednesday that fiscal spending and inflation could resemble the 1970s landscape. Similar to the 1970s, there are currently 3 active geopolitical conflict zones – eastern Europe, Middle East, and South China Sea," Kolanovic said. Kolanovic included in his note the chart below, which shows the correlation between inflation and the performance of the S&P 500.

Persons: —, Albert Edwards, Bank of America's Michael Hartnett, Jeffrey Gundlach, Cole Smead, Smead, Sears Roebuck, Alphabet's, Nvidia's, Microsoft's, Jeremy Siegel, David Rosenberg, Merrill Lynch, " Rosenberg, Marko Kolanovic, Kolanovic Organizations: Service, Societe Generale, Bank of America's, Treasury, Nasdaq, DoubleLine, Investments, Business, Morningstar, Microsoft, Nvidia, Xerox Locations: Europe, Middle East, South China

☆ JPMorgan's Kolanovic doubles down on bearish stance, says a 'second inflation wave' could take hold
▼ + stars: | 2024-02-21 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

The stock market's strong start to 2024 could be short lived as the door for inflation to come back remains wide open, according to JPMorgan's Marko Kolanovic. The S & P 500 is coming off its first weekly loss in six weeks. Year to date, the S & P 500 is up about 4% and reached an all-time high earlier this month above 5,000. "Optimism now is quite high and some describe the current regime as 'parabolic stock markets' and 'platinum-locks,'" he said. According to CNBC Pro's Market Strategist Survey , JPMorgan has an S & P 500 target of 4,200.

Persons: JPMorgan's Marko Kolanovic, Kolanovic Organizations: U.S . Bureau of Labor Statistics, CNBC Pro's, Survey, JPMorgan Locations: Japan, Germany, Europe

☆ Chinese stocks are trying to rebound. This is the trade to watch to know if the turnaround is for real
▼ + stars: | 2024-02-11 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Mainland Chinese stocks are trying to rebound from five-year lows and it's starting to look like Beijing is willing to take some action. "My question is, would a recovery in [the] Chinese economy and the stock market be the end to that multi-year rally in Chinese bonds?" If Chinese bond yields started to climb, that would likely indicate investors were rotating out, Papic pointed out. Mainland Chinese stock markets are closed and don't re-open until Monday, Feb. 19. They expect if sentiment remains weak, foreign capital still has scope to sell out of mainland Chinese and Hong Kong stocks.

Persons: Clocktower, Marko Papic, Xi Jinping, Papic, Nomura, Yi Huiman, Wu Qing, — CNBC's Michael Bloom Organizations: Bloomberg, U.S ., Shanghai Stock Exchange, Eurasia Group, Hong, UBS, Naura Technology Locations: Beijing, Shanghai, China, U.S, Hong Kong, Eurasia, Shenzhen, Sungrow

☆ The stock market debate is trapped in the '90s with both bulls and bears drawing comparisons
▼ + stars: | 2024-02-10 | by ( Michael Santoli | ) www.cnbc.com time to read: +10 min

Value-investing asset manager GMO last week published a study showing that the top ten S & P 500 stocks by size have handily beaten an equal-weighted pool of the other 490 for several years now. Neither is Microsoft, a useful indicator give that it was the largest stock by market cap both in December 1999 and today. Indeed, today the stock market has done well even as expectations for the speed and depth of rate cuts this year have diminished. (Industrials are leading, the equal-weight S & P is up 19% from October and there were 204 new 52-week highs on the NYSE Friday over 24 new lows.) The S & P 500 uptrend has for weeks targeted the 5050 area, as an immediate culmination point, and it's just about there.

Persons: Morgan, Marko Kolanovic, —, Janus, Stocks, it's, Alan Greenspan, Greenspan, Jerome Powell, Ned Davis, Ed Clissold, Jurrien, Goldman Sachs Organizations: Nvidia, Cisco, Nasdaq, Cisco Systems, Microsoft, Fed, Netscape, Boston, NYSE Locations: Russia, It's, Orange County, Calif

Some bills would bar financial institutions from discriminating against those who refuse to participate in DEI programs. Meanwhile, Democrats have filed about two dozen bills in 11 states that would require or promote DEI initiatives. The Supreme Court’s June decision ending affirmative action at universities has created a new legal landscape around diversity programs in the workplace and civil society. Rob Standridge, who has authored four bills aiming to hollow out DEI programs in the state, said it has become a salient campaign theme. In a 2023 report, White said Mississippi’s public universities are spending millions on DEI programs instead of student scholarships.

Persons: JACKSON, Republican Oklahoma Sen, Rob Standridge, Standridge, “, Trump, ” Mike Gonzalez, Josiah Magnuson, ” Magnuson, Kevin Stitt, it’s, Sen, Marko Liias, Liias, Ron DeSantis, ”, Shad, White, Becky Currie, Currie, Spencer Cox, Cox, Robin Vos, Jonathan Butcher, ” Butcher, Fentrice, ” Driskell, Trisha Ahmed, David Lieb, Hannah Schoenbaum, Todd Richmond, ___ Michael Goldberg Organizations: Republican, Associated, Democratic, Republican Oklahoma, Heritage Foundation, Rep, Republican Gov, Oklahoma State Regents, Higher Education, ”, Washington, Utah Gov, The Heritage Foundation, Democratic House, Associated Press, America Statehouse News Initiative, America Locations: Miss, Washington, South Carolina, Oklahoma, Florida, Texas, Mississippi, Wisconsin, Minneapolis, Jefferson City , Missouri, Salt Lake City, Madison , Wisconsin

☆ Baltic, Nordic Lawmakers Complain That US Lacks Urgency on Ukraine Aid
▼ + stars: | 2024-02-08 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +3 min

By Jonathan LandayWASHINGTON (Reuters) - Senior Nordic and Baltic lawmakers visiting Washington on Thursday expressed alarm at what they called a lack of urgency and a clear strategy by the United States to help Ukraine defeat Moscow's invasion. "Guys, wake up," Zygimantis Pavilionis, chairman of the Lithuanian parliament's foreign affairs committee, said in comments directed at Democrats and Republicans. All but Sweden are NATO members. Delegation members said they met administration officials and lawmakers, but mainly sought to speak to Republicans resisting fresh aid. "All of our countries around this table have (given) more than 1% of GDP of military aid to Ukraine.

Persons: Jonathan Landay WASHINGTON, Vladimir Putin, Pavilionis, Rihards Kols, Joe Biden, Marko Mihkelson, Kols, Jonathan Landay, Don Durfee, David Ljunggren Organizations: Nordic, Baltic, U.S, NATO, Lithuanian, Democrats, Republicans, Ukraine, Kyiv, Estonian Locations: Washington, United States, Ukraine, Moscow's, Russian, Latvia, Estonia, Lithuania, Sweden, Denmark, Iceland, Norway, U.S, Latvian, Europe, The U.S, Russia, Moscow

☆ Clocktower's chief strategist says Chinese stocks will likely rally 10% to 15% from here
▼ + stars: | 2024-02-07 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Jason Lee | APBEIJING — Chinese stocks will likely climb by at least 10% in coming days as authorities signal concerted support efforts, said Marko Papic, partner and chief strategist at Clocktower Group. Mainland Chinese stocks traded mostly higher Wednesday, following gains on Tuesday. A "10% to 15% rally in Chinese equities is likely in coming trading days," he said. Papic said he's been bearish on Chinese stocks for the past 12 months, and didn't rule out the possibility the latest rally "could be a dead cat bounce." Chinese stocks are still down for the year so far, following a 2023 marked by losses.

Persons: Jason Lee, Marko Papic, Papic, Xi Jinping, he's, Clocktower, Xi Organizations: AP BEIJING, Clocktower, U.S, Financial Regulatory Administration, China Securities Regulatory Commission, CNBC Locations: Beijing, China, Shanghai

☆ China is in the middle of a secular stagnation, says Clocktower Group's Marko Papic
▼ + stars: | 2024-02-06 | 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 EmailChina is in the middle of a secular stagnation, says Clocktower Group's Marko PapicMarko Papic, Clocktower Group chief strategist, joins 'Squawk Box' to discuss the upcoming U.S.-China economic talks, state of China's economic woes, risks of escalation in the Middle East, managing geopolitical risk, and more.

Persons: Clocktower Group's Marko Papic Marko Papic Organizations: China, Clocktower Group Locations: U.S, China

☆ JPMorgan says investors wishing for early and aggressive rate cuts will be disappointed
▼ + stars: | 2024-01-23 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Rising geopolitical headwinds and the potential for political turmoil could combine to thwart investors' hopes for the Federal Reserve to enact sharp interest rate cuts this year, according to JPMorgan Chase strategists. Markets have been betting that the Fed likely will start lowering its benchmark short-term borrowing rate by May or even as early as March. JPMorgan's investment team said the calculus could be important for investors as stocks and other asset classes look for direction. In recent days, multiple Fed officials have made remarks insisting that they are in no hurry to start cutting rates. For the full year, traders have gone from a strong chance of six cuts to a coin-flip between five and six.

Persons: Marko Kolanovic, Kolanovic, Raphael Bostic, Christopher Waller, — CNBC's Michael Bloom Organizations: Federal Reserve, Chase, JPMorgan, U.S, Fed, European Central Bank, Atlanta Fed, Federal, Market, Traders, Commerce Department Locations: 1H24

☆ Trump might be the only person who could negotiate with China as President, says analyst
▼ + stars: | 2024-01-16 | 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 EmailTrump might be the only person who could negotiate with China as President, says analystMarko Papic the Clocktower Group discusses how a 2024 Donald Trump presidential win could end up producing a trade deal with China.

Persons: Marko Papic, Donald Trump Organizations: Trump, Clocktower Locations: China

☆ Move over, pickleball: The fast-growing sport of padel is the next hot luxury-home amenity
▼ + stars: | 2023-12-21 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +6 min

Padel is said to be one of the world's fastest-growing sports, with 25 million players in over 90 countries. AdvertisementThe country's fastest-growing sport, pickleball, may have some competition. A standard-sized court is 66 feet by 33 feet, bigger than a pickleball court but smaller than a doubles tennis court. And Enclave, a gated community about 35 miles from Chicago in South Barrington, Illinois, is also set to have a communal padel court. Once they got hooked on padel, he said, they started converting them to padel courts.

Persons: Padel, —, Haven't, It's, Andy Murray, David Beckham, Omar Vega, padel, Marko Gojanovic, Gojanovic, Mia, Aly, khan Merali, Turnberry, Merali, Michael DeRosa, Kelli Ide, that's Organizations: Service, CNN, The New York Times, Business Locations: Mexico, Padel, Miami's, Miami Beach, South Florida, Turnberry, North Miami, Turnberry's, Spain, York, Central, Chicago, South Barrington , Illinois, Lake, Skaneateles, Skaneateles , New York, Atlanta, Los Angeles

☆ Strategists say red hot stock market rally is due for a breather
▼ + stars: | 2023-12-20 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

The equity market is due for a cooldown, according to several strategists, who are telling clients to begin positioning themselves defensively in preparation for a slow-growth earnings environment next year. The S & P 500 has rallied almost 24% this year, but is up 11% in the fourth quarter alone. The SPDR S & P Regional Banking ETF , for example, is up 24% this quarter, but still down 12% for the year. According to Calvasina, industrials are the most overvalued sector in the S & P 500, while energy and communication services offer the most attractive valuations. .GSPHC YTD mountain S & P Health Care sector performance this year.

Persons: Venu Krishna, Krishna, haven't, Lori Calvasina, Calvasina, Marko Kolanovic, Kolanovic Organizations: Barclays, Dow Jones, Federal Reserve, CNBC, Big Tech, Regional Banking, RBC Capital, P Health Care, JPMorgan Locations: Krishna, SPX, Europe

☆ This exchange is expanding its short-term options portfolio as 'zero-day' bets boom
▼ + stars: | 2023-11-27 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

While options contracts historically expire on Fridays, the most popular stock indexes now have contracts that expire on every day of the week. This creates the ability for "zero-day to expiration," or "0DTE," options trading. The new funds come as trading in options that are about to expire has expanded dramatically as a share of the options market in recent years. The rise of short-term options trading has created split opinions on Wall Street. "In my mind, 0DTE has always been a risk day, but we've now spread that risk out across an entire month.

Persons: Michael M, IWM, Marko Kolanovic, 0DTE, you've, Randy Frederick Organizations: Nasdaq, Getty, Trust, Securities, Exchange Commission, Federal Reserve, Schwab Center, Financial Research, CNBC Locations: New York City, Cboe

☆ Gaza’s economy is in ruins as Israel-Hamas war sets development back decades
▼ + stars: | 2023-11-24 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +5 min

Mahmud Hams | Afp | Getty ImagesWar-battered Gaza's already fragile economy lies in ruins, much like its buildings, following more than a month of bombings by Israel after Hamas militants attacked the country in October. "Gaza's economy is 100% dependent on two sources of revenue: foreign aid and access to Israel's labor market. According to the United Nations, during the 1970s and 1980s, the Palestinian economy saw relatively strong capital inflows, largely due to remittances from Palestinian workers in Israel and the Gulf countries. Things changed after Hamas gained power in Gaza in 2006 when Israel relinquished its control of the enclave. The U.N. classifies Israel as an occupier state over the Palestinian territories of the West Bank and Gaza.

Persons: Khan Younis, Mahmud Hams, Gazans, Marko Papic, Kevin Klowden Milken, Kevin Klowden, Israel, Raja Khalidi, Klowden, Khalidi Organizations: Afp, Getty, United Nations, Food, Clocktower, CNBC, West Bank, Economic Policy Research, International Labor Organization, United Nations Development, Milken Institute, Palestine Economic Policy Research Institute, Hamas, Palestinian Authority Locations: Gaza, Mahmud, Israel, Ramallah, West, Santa Monica , California, Egypt, Palestine, Saudi, Palestinian

☆ Iceland remains on eruption alert as seismic activity wanes
▼ + stars: | 2023-11-24 | by ( Johannes Birkebaek | ) www.reuters.com time to read: +1 min

[1/2] General view of an area near to the evacuated town of Grindavik, in Iceland, November 17, 2023. REUTERS/Marko Djurica/ File photo Acquire Licensing RightsCOPENHAGEN, Nov 24 (Reuters) - Icelandic authorities said on Friday they were still on alert for a volcanic eruption in the southwest Reykjanes peninsula, although the odds were falling after a drop in seismic activity. Iceland has been living with a high risk of an eruption since seismic activity and underground lava flows increased in the region near the capital Reykjavik in late October. "Seismic activity continues to decrease," it said, adding that "the likelihood of eruption decreases over time". Five ministers from the Icelandic parliament visited Grindavik on Friday, where evacuated residents have been allowed back since Thursday to pick up more personal belongings.

Persons: Marko Djurica, RUV, Vidir Reynisson, Johannes Birkebaek, Alexander Smith Organizations: REUTERS, Rights, Thomson Locations: Grindavik, Iceland, Reykjavik, Hagafell

REUTERS/Andrew Kelly Acquire Licensing RightsSummary poll dataBENGALURU, Nov 22 (Reuters) - Most key global stock indexes are forecast to rise modestly over the coming year, closing 2024 below record highs, while a slim majority of stock market experts polled by Reuters expected their markets to touch new peaks within the next six months. However, only a handful of the 15 top stock indexes were predicted to trade at record peaks by end-2024, based on a wider Nov. 9-22 poll of more than 120 stock market experts. LOWER BOND YIELDSFor now, markets are pricing in a series of 2024 rate cuts, which is sending bond yields lower and stock prices higher. "Falling bond yields are being interpreted by equity markets as a positive in the near-term," said Marko Kolanovic, chief global markets strategist at J.P. Morgan. Canada's main stock index was expected to rise less than previously thought over the coming year as a slowdown in the global economy weighs on the outlook for corporate earnings.

Persons: Andrew Kelly, Ajay Rajadhyaksha, Marko Kolanovic, Morgan, Hari Kishan, Indradip Ghosh, Ross Finley, Alex Richardson Organizations: New York Stock Exchange, REUTERS, Reuters, Traders, U.S . Federal, Barclays, Nikkei, Thomson Locations: New York City, U.S, BENGALURU, Monday's, Bengaluru, Buenos Aires, London, Mexico City, Milan, New York, San Francisco, Sao Paulo, Tokyo, Toronto

☆ President Biden could become very aggressive toward China, says Clocktower Group's Marko Papic
▼ + stars: | 2023-11-20 | 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 EmailPresident Biden could become very aggressive toward China, says Clocktower Group's Marko PapicMarko Papic, Clocktower Group chief strategist, joins 'The Exchange' to discuss U.S.-China relations following President Biden's meeting with Chinese President Xi, Taiwanese independence, and more.

Persons: Biden, Clocktower Group's Marko Papic Marko Papic, Biden's, Xi Organizations: Clocktower Group, U.S Locations: China

☆ In pictures: Iceland braces for volcanic eruption
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: 1 min

[4/21]A police officer and a member of search and rescue team stand by the smoke rising from the crack in a road in the fishing town of Grindavik, which was evacuated due to volcanic activity, in Iceland November 15. REUTERS/Marko DjuricaGRINDAVIK, Iceland

Persons: Marko Djurica GRINDAVIK Organizations: REUTERS Locations: Grindavik, Iceland

☆ JPMorgan's stock guru Kolanovic says don't buy the market bounce, stocks are overvalued and consumer is in trouble
▼ + stars: | 2023-11-14 | by ( Scott Schnipper | ) www.cnbc.com time to read: +1 min

The S & P 500 is up more than 7% in November, but JPMorgan wrote to clients this week that the rebound is just a head fake. The biggest bank in the country thinks stocks are expensive and consumer spending is set to slow. Rather, "a significant part of this move was technical in nature, driven by momentum strategies and short covering." The hurdles for the stock market are manifold, according to JPMorgan. Instead, JPMorgan recommends a defensive posture in its model portfolio, underweighting stocks and bonds and overweighting cash and commodities.

Persons: Marko Kolanovic, Kolanovic, — CNBC's Michael Bloom Organizations: JPMorgan

☆ Arsenal cruise to 2-0 win against Sevilla
▼ + stars: | 2023-11-08 | by ( Martyn Herman | ) www.reuters.com time to read: +3 min

LONDON, Nov 8 (Reuters) - Arsenal returned to winning ways with a routine 2-0 defeat of Sevilla to take a big step towards qualification for the Champions League knockout rounds on Wednesday. Europa League champions Sevilla were desperately disappointing and managed only one shot on target, with the last kick of the game, as their last-16 hopes receded. Lens and PSV have five points while winless Sevilla are bottom with two points. Arsenal got their wish as the technology that caused Arteta's angst at Newcastle was redundant and Sevilla offered virtually nothing to cause alarm. "We knew we had to get three points and we did it," Arsenal midfielder Declan Rice said.

Persons: Leandro Trossard, Trossard, Mikel Arteta's, hobbling, Declan Rice, Sevilla, Diego Alonso, Jose Luis Mendilibar, Kai Havertz, Jorginho, Martin Odegaard, Havertz, Gabriel Martinelli's, Marko Dmitrovic, David Raya, Mariano Diaz, Martyn Herman, Clare Fallon Organizations: Arsenal, Sevilla, Champions League, League Cup, Premier League, Europa League, Lens, PSV Eindhoven, PSV, SEVILLA, Newcastle United, La Liga, Uruguay, Copa del Rey, Trossard, Thomson Locations: Newcastle, London

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