DIRS.INFO The most relevant business & tech news

☆ Copper prices will extend records and surge another 288% in the coming years, top trader says
▼ + stars: | 2024-05-24 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Top commodity trader Pierre Andurand expects copper to reach $40,000 a ton in the next four years. AdvertisementCopper prices at records are only a taste of what's to come, says top commodities trader Pierre Andurand. Copper is already sitting near record highs, so any quadrupling from current levels would mean a prolonged series of fresh records. It's bad news for a depleting inventory; last year, global copper supply hit its lowest seasonal level since 2008. The supply-demand imbalance is the same thesis for why commodities expert Jeff Currie expects higher prices, though his projection is nowhere near Andurand's — Currie expects copper to hit $15,000 in the coming years, and has called it "the most compelling trade" he's ever seen.

Persons: Pierre Andurand, —, That's, Andurand, BHP's, Jeff Currie, — Currie, I'm, Currie Organizations: Service, Financial Times, Bloomberg

☆ Nvidia 'seems bubbly' because it won't be able to maintain its dominant market share, investing legend Rob Arnott says
▼ + stars: | 2024-05-23 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Nvidia "seems bubbly" as its semiconductor market share isn't sustainable, Rob Arnott told CNBC. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . According to Research Affiliates founder Rob Arnott, Nvidia's market success is based on the idea that it will continue to dominate the semiconductor industry into the future. You can keep your 90+ market share and super chips.

Persons: Rob Arnott, —, Arnott Organizations: Nvidia, CNBC, AMD, Intel, Service, Research, Taiwan Semi, Bank of America, Broadcom Locations: Taiwan

☆ Ether could surge 60% after ETFs are approved, trading firm says
▼ + stars: | 2024-05-23 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

The price of ether could rise 60% if spot ETFs are approved, QCP Capital wrote. The previous success of spot bitcoin ETFs serves as an example of potential upside. Eyes are currently on the second-biggest cryptocurrency as US regulators are deciding on whether to approve the first ether spot ETFs in the country. That token's stellar run was set off in mid-January when the SEC similarly greenlit spot bitcoin ETFs. What's more, head of FX Research Geoff Kendrick wrote that the spot ether ETFs are unlikely to stumble on the same issues that tormented bitcoin, such as heavy inflow volatility.

Persons: —, bitcoin, QCP, Geoff Kendrick Organizations: QCP, SEC, Service, BlackRock, [ Depository Trust, Clearing Corporation, Chartered, FX

☆ Baby boomers have been America's secret weapon for fending off recession
▼ + stars: | 2024-05-22 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Read previewTalks of a looming recession are flaring across Wall Street, but the savings war chest of baby boomers has staved off a US downturn. AdvertisementInstead, only the goods sector has shown signs of a growth recession, Yardeni said. But that's after the lockdown's hard-to-beat buying spree; today, goods spending remains at a record high when adjusted for inflation. Related storiesBut to Yardeni, they're the reason no consumer recession has appeared in the past two years, he separately wrote in April:"The Baby Boomers watched a lot of 'Star Trek' during the 1960s. AdvertisementMeanwhile, the baby boomer focus on service spending may also have deformed indicators, making things look gloomier than they are.

Persons: —, Ed Yardeni, Yardeni Organizations: Service, Business, Financial Times, Boomers

☆ The US economy is headed for a hard landing this year, and deep rate cuts are the only solution, Citi chief economist says
▼ + stars: | 2024-05-21 | by ( Filip De Mott | ) www.businessinsider.com time to read: +1 min

The US economy is headed for an economic hard landing driven by a deteriorating labor market, Citigroup's chief US economist told CNBC. That tends to snowball," Andrew Hollenhorst said about the job market. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA deteriorating labor market will be what causes the US economy to quickly turn sour, according to Andrew Hollenhorst, Citigroup's chief US economist. That tends to snowball and end up in something that looks more like a hard landing."

Persons: Andrew Hollenhorst, — Organizations: CNBC, Service, Business

☆ Stock market today: Indexes trade mixed as Nvidia-led momentum takes a break ahead of earnings
▼ + stars: | 2024-05-21 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Stock trades fell flat as investors take a breather ahead of Nvidia's earnings. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe latest rally in stocks faltered Tuesday morning, with investors stepping back ahead of Nvidia's upcoming earnings report and further communications from Federal Reserve officials. Tuesday will also be saturated with speakers from the Federal Reserve, whose comments could provide insight into monetary policy.

Persons: —, Dow, Jamie Dimon, David Morrison, Thomas Barkin, Christopher Waller, John Williams, Raphael Bostic, Susan Collins, Loretta Mester Organizations: Fed, Service, Federal Reserve, Nasdaq, Alto Networks, Urban Outfitters, Toll, Trade Nation Locations: Here's

☆ China ramps up de-dollarization efforts by dumping a record amount of US bonds
▼ + stars: | 2024-05-21 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

China sold a record $53.3 billion worth of Treasurys and agency bonds in the first-quarter, Bloomberg reported. AdvertisementChina unloaded a record volume of US bonds in the first quarter, escalating the country's pivot from dollar-denominated assets. AdvertisementBy last year, China was already discarding US debt to prop up its yuan, given considerable declines against the dollar. Now, the metal makes up a 4.9% of Chinese reserves, the highest since at least 2015, Bloomberg said. China is also de-dollarizing its reserves as part of a broader movement to diversify global finance, and chip at dollar dominance.

Persons: —, Biden, Donald Trump Organizations: Bloomberg, Service, US Treasury, greenback, Biden Administration, West Locations: China, Beijing, Russia

☆ Stock market today: S&P 500 edges higher to new record as traders brace for Nvidia earnings
▼ + stars: | 2024-05-21 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

The S&P 500 came close to breaching a new high, as investors gear up for Nvidia earnings on Wednesday. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe S&P 500 closed at a record high Tuesday, as investors gear up for Nvidia's highly-anticipated earnings report. By now, the semiconductor manufacturer has a reputation for leading broader stock market upside and traders are eyeing the release as the next big catalyst as the market heads toward summer.

Persons: Christopher Waller, Crypto, —, cryptocurrency Organizations: Service, Nasdaq, Federal Reserve, ethereum, Here's

☆ Ethereum surges 22% on speculation ETFs could be approved as soon as this week — and a new bitcoin record might not be far behind
▼ + stars: | 2024-05-21 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Ethereum has jumped over the past 24 hours as odds of an imminent ETF approval have soared. AdvertisementAccording to Standard Chartered Head of FX Research Geoff Kendrick, ETF approvals would cement ether's chances of reaching $8,000 by this year's end. AdvertisementSecondly, big outflows are also less likely to be an issue for ether, Kendrick pointed out. Once ether funds are established, the price highs that it can achieve bode well for bitcoin, Kendrick added. "An ETH ETF approval will further legitimise the sector and therefore be BTC positive as well.

Persons: Ethereum, —, That's, Eric Balchunas, Geoff Kendrick, Kendrick, bode Organizations: SEC, Chartered, Service, bitcoin, Securities and Exchange Commission, Bloomberg, Bloomberg Intelligence, Standard Chartered, FX, BTC Locations: VanEck

☆ 'We're not about to fold': Janet Yellen says efforts are underway to package a $50 billion loan to Ukraine using frozen Russian funds
▼ + stars: | 2024-05-20 | by ( Filip De Mott | ) www.businessinsider.com time to read: +1 min

Janet Yellen told The New York Times that G7 leaders will discuss the details of a loan program for Ukraine. The loan would use proceeds from Russia's frozen asset and potentially offer a $50 billion lifeline. The aid could offer Ukraine a means of survival as Moscow amplifies its offensive. AdvertisementThe US and its allies are getting serious about a plan to finance Ukraine using interest earned on Russia's frozen assets. Under the idea, these profits would be bundled together into a sizable loan, a possible means of survival for Kyiv.

Persons: Janet Yellen, — Organizations: New York Times, Service, Kyiv, Business Locations: Ukraine, Moscow

☆ Gold prices are at yet another record high. That means rate cuts are coming soon
▼ + stars: | 2024-05-20 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Gold reached a new record of $2,454.20 per ounce on Monday as markets price in Fed rate cuts. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementGold set another record high on Monday as Wall Street readies for monetary policy to ease this year. Given that gold is a safe haven asset, rising international face-offs have prompted more investors to buy the bullion. Meanwhile, US sanctions on Russian reserves sparked central banks to snap up the metal at record pace.

Persons: Gold, —, Grzegorz Drozdz, David Miarrions Organizations: Service, P, Trade

☆ 'The real AI darling': This data-center stock has beaten Nvidia by 310% since last year's blockbuster earnings
▼ + stars: | 2024-05-20 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

The firm notes that Vertiv, which makes power and cooling equipment for data centers, has beaten Nvidia by 315% over the past year. Much of that stems from the advanced chips that power AI on — such as the ones Nvidia produces — requiring significantly more electricity to operate. "Power used by AI applications is expected to grow at a 25-33% CAGR over the next few years." AdvertisementAs Nvidia gears up for its earnings season on Wednesday, expectations remain strong, Bank of America said. Previously, Goldman Sachs had similarly outlined broadening AI investment, characterizing Nvidia as the first of four phases.

Persons: —, They're, Nvidia's, Vertiv, outpacing, BofA, Bank of America BofA, Steve Eisman, it's, NVDA, Goldman Sachs Organizations: Bank of America, Nvidia, Service, Vertiv

☆ 3 reasons why buying copper right now is the best trade one commodity expert has ever seen
▼ + stars: | 2024-05-19 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

Copper "is the most compelling trade I have ever seen," Carlyle's Jeff Currie said on the Odd Lots podcast. He thinks the metal's massive mismatch in supply and demand could push its price up to $15,000 a ton. AdvertisementCopper supply issues are making the metal considerably more expensive, says commodities veteran Jeff Currie, who is very bullish on the opportunity. He later added: "I just quote many of our clients and other market participants say it's the highest conviction trade they've ever seen." Though not necessarily part of his acronym, artificial intelligence is also amplifying industry demand, Currie mentioned.

Persons: Carlyle's Jeff Currie, Currie, —, Jeff Currie, Carlyle, Currie —, Goldman Sachs, policy's, copper's, deglobalization Organizations: Industry, Service, Bloomberg, US, BHP Locations: China, Panama

☆ Billionaire 'Bond King' Bill Gross explains why oil and gas pipelines are his top investment even as AI fervor swirls
▼ + stars: | 2024-05-17 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Bill Gross told Barron's that oil and gas pipelines are a top investment of his as he seeks alternatives to a tapped-out bond market. He says these publicly-traded multiple limited partnerships offer strong returns with additional tax advantages. Rather than seeking opportunity in the bond market, the legendary billionaire is investing in oil and gas pipelines. Gross notes that the pipelines — which trade as master limited partnerships — possess many of the yield attributes of bonds. Previously, he attempted to trade Broadcom on AI hopes, but was "whipped back and forth," Gross shared in March commentary.

Persons: Bill Gross, Gross, —, that's, Barron's, " Gross, Con Organizations: Microsoft, IBM, Nvidia, Service, Energy, Western Pipeline, Gross, Broadcom, Dominion Locations: Barron's, Con Edison

☆ This US region is seeing the biggest rent declines as owners struggle to fill vacancies, Redfin says
▼ + stars: | 2024-05-17 | by ( Filip De Mott | ) www.businessinsider.com time to read: +1 min

Metros in the Sun Belt are notching the steepest rent declines in the country, Redfin reported. The pandemic-era demand that led to accelerated construction has since subsided, leading to more vacancies. These declines are happening as rent rises nationwide. AdvertisementThe country's steepest rent declines are happening in metro areas across the Sun Belt as pandemic-era demand spikes subside, Redfin reported Friday. "But the boom is over, and now property owners are struggling to fill vacancies, which is causing rents to fall."

Persons: —, Redfin, Sheharyar Bokhari Organizations: Service, Business Locations: Austin , Texas, Nashville , Tennessee, Jacksonville, Miami, San Diego

☆ Why the US isn't facing a stagflation threat even as growth slows, according to BofA
▼ + stars: | 2024-05-16 | by ( Filip De Mott | ) www.businessinsider.com time to read: +1 min

Recent stagflationary forecasts are misguided for this year, Bank of America wrote on Thursday. While first-quarter GDP badly missed estimates, the inflation that was seen was driven by strong consumer spending. That separates it from the US's last bout with stagflation, in 2022, when higher prices were caused by a supply shock. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Fear arose in April when first-quarter GDP missed expectations as inflation figures simultaneously surpassed estimates.

Persons: stagflation, —, Bank of America isn't Organizations: Bank of America, Service, Business

☆ Jamie Dimon says inflation is worse than people think, and that the market is too optimistic about a soft landing
▼ + stars: | 2024-05-16 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewMarkets underestimate inflation's likely endurance, as an array of factors keep price upside churning, JPMorgan CEO Jamie Dimon told Bloomberg TV. "I think the underlying inflation may not go away the way people expect it to," he told the outlet at the JPMorgan Global Markets Conference. AdvertisementIt's a point Dimon keeps reiterating despite market bullishness, as investors keep trading on the premise that subsiding inflation allows interest rates to eventually ease. In his annual letter to JPMorgan shareholders published last month, he expressed similarly doomy outlooks concerning inflation, interest rates and the economy's trajectory.

Persons: —, Jamie Dimon, Dimon's, he's, Dimon Organizations: Service, JPMorgan, Bloomberg, JPMorgan Global Markets, Business, Bank of America's, Global Fund Locations: Bank, China, Beijing, Russia, United States

☆ A surging number of crypto owners are trying to recover forgotten wallet passwords so they can cash in after huge token rallies
▼ + stars: | 2024-05-16 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Bitcoin's resurgence has triggered a wave of wallet retrieval attempts, Reuters reported. Firms that specialize in this have noted a surge in retrieval requests this year. By one estimate, around 20% of circulating bitcoin could be stuck in locked wallets. AdvertisementFor wallet retrieval firms, the spike in interest is profitable. Upon successful retrieval, both ReWallet and WRS charge a fee of 20% of the wallet's contents, Reuters said.

Persons: —, ReWallet, WRS, it's, Bernstein Organizations: Reuters, Firms, Service, ReWallet, Chartered Locations: Germany

☆ Bitcoin could see a wave of forced selling as miners face the reality of lower rewards post-halving, research firm says
▼ + stars: | 2024-05-15 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Bitcoin's halving in April could force crypto miners to sell some tokens, Kaiko Research reported. These firms haven't yet had to tap their bitcoin hoards thanks to high transaction fees, but that could change. The April halving is a pre-coded event in which the amount of bitcoin rewarded to crypto miners is slashed in half. According to Bloomberg, fees jumped amid a burst of meme-coin creation after the halving event. Miners are often known for hoarding bitcoin troves without selling, which analysts have previously pointed out as another price-boosting supply constraint.

Persons: —, Kaiko, bitcoin, Peter Brandt Organizations: Research, Service, Bloomberg, Mining, Marathon Digital, BTC

☆ Biden's new tariffs show he's willing to play hardball as China ramps up exports, Nobel economist Paul Krugman says
▼ + stars: | 2024-05-15 | by ( Filip De Mott | ) www.businessinsider.com time to read: +1 min

Biden's tariffs on China are a gesture to show the US will not accept another wave of Chinese imports, Paul Krugman wrote in an op-ed. The previous "China shock" was damaging to US employment, given the localized nature of US industry. China is relying on heavy production to manufacture its way out of an economic slump. Sign up for our newsletter to get the latest on the culture & business of sustainability — delivered weekly to your inbox. "They're a shot across the bow — a signal that the United States won't accept a second so-called China shock, a surge of imports that could undermine crucial parts of the administration's agenda."

Persons: Paul Krugman, Biden's Organizations: Service, The New York Times, Business Locations: China, United

☆ Jamie Dimon says China's relationship with Russia will make it difficult for the US to fully engage with it
▼ + stars: | 2024-05-15 | by ( Filip De Mott | ) www.businessinsider.com time to read: +1 min

The US should embrace full engagement with China, but expect a hard time along the way, JPMorgan CEO Jamie Dimon told Sky News. This will remain difficult as long as China is close to Russia, he noted. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementJPMorgan CEO Jamie Dimon considers full US engagement as the right approach to China, but says obstacles will make it a difficult course to follow, he told Sky News. Chief among issues is Beijing's strengthening relationship with Moscow, Dimon told the outlet on Wednesday: "As long as China is kind of on the side of Russia, we're going to have a hard time."

Persons: Jamie Dimon, Dimons, —, Dimon, we're Organizations: JPMorgan, Sky News, Service, Business Locations: China, Russia, Beijing, Moscow

☆ The stock market has peaked and will trade flat for the rest of 2024, Goldman equity chief says
▼ + stars: | 2024-05-15 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Goldman Sachs chief US equity strategist David Kostin says the S&P 500 could trade flat for the rest of the year. He told Bloomberg TV that the index has already reached Goldman's year-end target of 5,200. AdvertisementThe stock market rally has run its course for 2024, as the S&P 500 now stands above Goldman Sachs' year-end prediction, the firm's chief US equity strategist David Kostin said. The S&P 500 surpassed Goldman's year-end target of 5,200 earlier this month. Still, the Goldman stock chief isn't giving up entirely on the possibility of a bullish turnaround.

Persons: Goldman Sachs, David Kostin, —, Kostin, Goldman Organizations: Bloomberg, Service, Bloomberg TV, Goldman, Federal, UBS

☆ Stock market today: Indexes edge up as traders digest wholesale inflation data
▼ + stars: | 2024-05-14 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Major indexes were slightly higher after the data as investors assessed the impact on rate cut outlooks. April's producer price index data beat estimates, gaining 0.5% for the month against 0.3% consensus estimates. The PPI data comes a day before Wednesday's consumer price index and will give investors a broader frame of reference. If CPI data is equally hot, the stuttering stock rally could face even more negative consequences. The 10-year Treasury briefly topped 4.5% after the PPI data before slipping by about one basis point to 4.465.

Persons: Jerome Powell, —, Chris Zaccarelli, Keith Gill Organizations: Service, PPI, Independent, Federal, GameStop, AMC, Treasury, Here's

☆ 5 defensive trades to make if stagflation and hard-landing fears cause a stock sell-off, BofA says
▼ + stars: | 2024-05-14 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Stocks are vulnerable to a stagflation or hard landing rebound, says Bank of America's Michael Hartnett. AdvertisementStock markets face downturn risk if stagflation or recession anxiety re-materializes, Bank of America's top global strategist Michael Hartnett wrote on Tuesday. "Sentiment not at 'close-eyes-and-sell' levels but risk assets vulnerable to more evidence of stagflation," he noted in the bank's latest Global Fund Manager Survey. Although outlooks have since calmed, stagflation seemed like a growing possibility last month, when estimate-beating inflation data eclipsed shallow first-quarter GDP. Stagflation may have some part to play, as inflation remains the leading tail risk, while fears of an "economic hard landing" grew stronger.

Persons: America's Michael Hartnett, Hartnett, —, Michael Hartnett, stagflation Organizations: America's, Service, materializes, Bank of America's, Global Fund, Survey, Japan Utilities, Federal Reserve Locations: China, Europe, Japan

☆ 4 reasons why the S&P 500 has another 5% upside this year, UBS says
▼ + stars: | 2024-05-14 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

The ongoing S&P 500 rally could extend to 5,500 this year, UBS said. Tech earnings have remained strong, with ex-Mag 7 tech firm profits revised 7% higher since March. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementWith last month's equity jitters already quashed, the ongoing rebound is the start of an extensive summer rally, UBS said. According to a note published Tuesday, the S&P 500 could reach the firm's upside scenario of 5,500 by this year's end.

Persons: Disinflation, —, Marcelli, That's Organizations: UBS, Tech, Service, Global Wealth Management, Microsoft, Nvidia, Apple

Search resuls for: "Filip De Mott"

25 mentions found