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☆ Nvidia is in a bubble, stocks will disappoint for a decade, and a recession will strike this year, markets guru warns
▼ + stars: | 2024-04-12 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Nvidia is in a bubble, stocks will falter, and a recession will hit this year, Jesse Felder said. The markets guru said the microchip frenzy would fade, and stock-market returns would drop off. NEW LOOK 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 . AdvertisementNvidia hype is a bubble that will burst, stocks will disappoint for the next decade or longer, and a recession will strike this year, Jesse Felder said.

Persons: Jesse Felder, —, outsize, Felder, Jeff Bezos, Meta's Mark Zuckerberg, Jamie Dimon Organizations: Nvidia, Service, Micron

☆ JPMorgan Chase beats in first-quarter earnings as Dimon warns of ‘unsettling’ global landscape
▼ + stars: | 2024-04-12 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +1 min

New York CNN —JPMorgan Chase, the world’s largest bank by market capitalization, kicked off earnings season Friday with a beat, but also a warning. The bank’s first-quarter revenue increased by 8.5% from the year before, to $41.9 billion. However, looking ahead, we remain alert to a number of significant uncertain forces,” he wrote in a press release Friday. “First, the global landscape is unsettling — terrible wars and violence continue to cause suffering, and geopolitical tensions are growing. Second, there seems to be a large number of persistent inflationary pressures, which may likely continue.

Persons: FactSet, Jamie Dimon, ”, “ Organizations: New, New York CNN, JPMorgan Chase, FactSet Locations: New York

☆ JPMorgan beats on earnings as CEO Jamie Dimon rings the alarm on global trouble
▼ + stars: | 2024-04-12 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

The banking giant grew revenue by 9% and net income by 6%. CEO Jamie Dimon, however, rang the alarm on geopolitical and economic challenges. AdvertisementJPMorgan reported first-quarter earnings on Friday that surpassed Wall Street's expectations, as CEO Jamie Dimon rang the alarm once again on a troublesome geopolitical and economic backdrop. America's biggest bank posted a 9% year-on-year rise in revenue to $41.9 billion, which helped to drive its net income up 6% to $13.4 billion. Dimon hailed JPMorgan's strong performance in the earnings release, but also issued a stark caution about the current global backdrop.

Persons: Jamie Dimon, —, Dimon Organizations: JPMorgan, Service, CIB, CB, First Locations: CCB

☆ Benefit Street's Richard Byrne talks finding opportunity in the CRE debt space
▼ + stars: | 2024-04-12 | 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 EmailBenefit Street's Richard Byrne talks finding opportunity in the CRE debt spaceRichard Byrne, Benefit Street Partners president, joins 'Closing Bell Overtime' to talk commercial real estate, the borrowing environment, recent comments from Jamie Dimon and more.

Persons: Richard Byrne, Jamie Dimon Organizations: Street Partners

☆ Dow tumbles more than 300 points on fears of potential attack by Iran and inflation woes
▼ + stars: | 2024-04-12 | by ( Krystal Hur | ) edition.cnn.com time to read: +2 min

New York CNN —US stocks slid Friday morning as Wall Street worried about escalating tension in the Middle East and sticky inflation. The US and Israel are on alert for a potential attack by Iran or its proxies after an Israeli strike in Damascus last week. The price of the most actively traded gold futures contract rose to roughly $2,432 a troy ounce. Elsewhere, fresh data showed that Americans’ attitudes toward the economy have dampened over the past few months as inflation stays stubborn. The University of Michigan’s latest consumer survey showed that sentiment largely held steady in April, according to a preliminary reading released Friday.

Persons: Dow, JPMorgan Chase, Jamie Dimon, ” Dimon Organizations: New, New York CNN, Nasdaq, Texas, Energy, Federal Reserve, JPMorgan, JPMorgan Chase, University of Michigan’s Locations: New York, Israel, Iran, Damascus, Gaza, Ukraine

☆ Jamie Dimon warns that inflation, wars and Fed policy pose major threats ahead
▼ + stars: | 2024-04-12 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

JPMorgan Chase CEO and Chairman Jamie Dimon gestures as he speaks during the U.S. Senate Banking, Housing and Urban Affairs Committee oversight hearing on Wall Street firms, on Capitol Hill in Washington, U.S., December 6, 2023. JPMorgan Chase CEO Jamie Dimon warned Friday that multiple challenges, primarily inflation and war, threaten an otherwise positive economic backdrop. "Many economic indicators continue to be favorable," the head of the the largest U.S. bank by assets said in announcing first-quarter earnings results. An "unsettling" global landscape including "terrible wars and violence" is one such factor introducing uncertainty both into JPMorgan's business and the broader economy, Dimon said. However, the bank warned net interest income for this year could be slightly below what Wall Street is expecting and shares were off nearly 2% in premarket trading.

Persons: Jamie, JPMorgan Chase, Jamie Dimon, Dimon Organizations: JPMorgan Chase, U.S . Senate Banking, Housing, Urban Affairs, Wall, Capitol, JPMorgan Locations: Washington , U.S, U.S

☆ Stocks making the biggest moves midday: Globe Life, JPMorgan, Zoetis, Wells Fargo and more
▼ + stars: | 2024-04-12 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Wells Fargo — Shares of the bank inched lower by less than 1% after it reported a decline in net interest income during the first quarter. Wells Fargo did beat analyst expectations for its first-quarter adjusted earnings and revenue. Globe Life — The life insurance stock bounced 10% after plummeting more than 50% during Thursday's session. The firm said shares were not worth purchasing ahead of the first quarter earnings report, given the weakness expected. Ciena — Shares slipped nearly 3% after Citi initiated coverage of the software company with a sell rating.

Persons: Jamie Dimon, Wells, LSEG, Corteva, Librela, — CNBC's Michelle Fox, Alex Harring, Tanaya Macheel, Pia Singh Organizations: JPMorgan, Street, Wells Fargo, BlackRock —, BlackRock, Fuzzy Panda Research, Paramount, Skydance Media, Citi, Wall Street, Solensia, Arista Networks, Rosenblatt

☆ Jamie Dimon joined other top business leaders at the glitzy White House dinner. See who joined him on the guest list.
▼ + stars: | 2024-04-12 | by ( Alexandra Bacon | ) www.businessinsider.com time to read: +1 min

Leaders from JPMorgan, Microsoft, and Apple attended a White House state dinner on Wednesday. The dinner was hosted by Biden for the Prime Minister of Japan, Fumio Kishida. Take a look at the business leaders and tech moguls who attended the lavish event. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementOn Wednesday top business and tech figures mingled with celebrities and lawmakers at the White House for a state dinner hosted by President Joe Biden.

Persons: Apple, Biden, Fumio, —, Joe Biden Organizations: JPMorgan, Microsoft, White House, Japan, Service, White Locations: Japan

☆ JPMorgan Chase is set to report first-quarter earnings — here’s what the Street expects
▼ + stars: | 2024-04-12 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

Jamie Dimon, President and CEO of JPMorgan Chase, speaking on CNBC's "Squawk Box" at the World Economic Forum Annual Meeting in Davos, Switzerland, on Jan. 17, 2024. JPMorgan Chas e is scheduled to report first-quarter earnings before the opening bell Friday. Still, large banks are expected to outperform smaller ones this quarter, and expectations for JPMorgan are high. Analysts believe the bank can boost guidance for 2024 net interest income as the Federal Reserve is forced to maintain interest rate levels amid stubborn inflation data. Shares of JPMorgan have jumped 15% this year, outperforming the 3.9% gain of the KBW Bank Index.

Persons: Jamie Dimon, JPMorgan Chas, Goldman Sachs, Morgan Stanley Organizations: JPMorgan Chase, JPMorgan, LSEG Revenue, Trading, Federal Reserve, Analysts, Federal, KBW, Wells, Citigroup, Bank of America Locations: Davos, Switzerland, Wells Fargo

☆ AI is coming for Wall Street: Banks are reportedly weighing cutting analyst hiring by two-thirds
▼ + stars: | 2024-04-11 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Read previewIncoming junior Wall Street analysts could be in danger of losing their jobs to AI, sources within banks told the New York Times. Big firms are reportedly mulling whether to pull back on hiring new analysts as Wall Street leans more heavily on AI, several people familiar with the matter at Goldman Sachs, Morgan Stanley, and other banks told the publication this week. This story is available exclusively to Business Insider subscribers. Deutsche Bank told Business Insider it was too early to comment on any potential job cuts. Advertisement"AI will enable us to do tasks that take 10 hours in 10 seconds," JPMorgan's head of investment banking Jay Horine told the Times, speaking of Wall Street analysts.

Persons: —, Goldman Sachs, Morgan Stanley, Christoph Rabenseifner, Banks, Socrates, Jamie Dimon, Larry Fink, Jay Horine Organizations: Service, Wall Street, New York Times, Business, Deutsche Bank, Times, JPMorgan, BlackRock, Financial, McKinsey, Accenture

☆ Wall Street wants answers from big banks about the economy
▼ + stars: | 2024-04-11 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

New York CNN —Big banks kick off earnings season Friday. “Earnings season just became significantly more important,” said JJ Kinahan, chief executive of IG North America, in a Wednesday note. On one hand, lofty rates could help pad banks’ net interest income, since they can charge a higher borrowing rate for loans and mortgages. Inflation has been a bane on Biden’s presidency, with voters consistently giving him low marks for his handling of the economy. Fed Chair Jerome Powell has said that policymakers want to see more evidence that inflation is headed toward their 2% goal.

Persons: ”, JJ Kinahan, JPMorgan, Wells, You’ll, Carol Schleif, Wall, Jamie Dimon, “, Alicia Wallace, Friday’s, Joe Biden, ” Biden, Bryan Mena, Jerome Powell, Powell Organizations: CNN Business, Bell, New York CNN, Dow Jones, Nasdaq, IG North America, JPMorgan Chase, BlackRock, Citigroup, PNC Financial Services, BMO Family Office, Federal Reserve, Wall, Traders, Bureau of Labor Statistics, —, Federal, Fed Locations: New York, Wells Fargo, pare

☆ Morgan Stanley tumbles, GE Healthcare climbs — what's driving Thursday's major portfolio stock moves
▼ + stars: | 2024-04-11 | by ( Jeff Marks | ) www.cnbc.com time to read: +5 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street.

Persons: Jim Cramer, Stocks, Banks, JPMorgan Chase, Jamie Dimon, Morgan Stanley, Bausch, Jim, Jim Cramer's Organizations: CNBC, Club, Citigroup, JPMorgan, Securities and Exchange Commission, U.S, Appeals, Federal Circuit, Health, Jefferies, Xifaxan, Bausch Health, Costco, GE Healthcare, Mizuho, Broadcom, Apple, Nvidia, Jim Cramer's Charitable Locations: Wells Fargo, BlackRock

☆ Jeff Bezos and fiancée Lauren Sánchez were among the top tech bosses and business leaders to attend a lavish White House dinner
▼ + stars: | 2024-04-11 | by ( Alexandra Bacon | ) www.businessinsider.com time to read: +2 min

The former Amazon CEO joined over 200 other guests at a White House state dinner on Wednesday. President Joe Biden hosted the dinner in honor of the Prime Minister of Japan, Fumio Kishida. Other guests in attendance included Apple CEO Tim Cook and JP Morgan's Jamie Dimon. AdvertisementJeff Bezos, founder and former CEO of Amazon, and his fiancée Lauren Sanchez, a former news anchor and philanthropist, joined 200 other guests at a White House state dinner on Wednesday. Jill Biden had the State Floor of the White House transformed into what she dubbed a "vibrant spring garden" for the event.

Persons: Joe Biden, Fumio Kishida, Tim Cook, Morgan's Jamie Dimon, —, Jeff Bezos, Lauren Sanchez, Fumio, Jamie Dimon, Larry Fink, Bill Clinton, Hillary Clinton, Robert DeNiro, Masayoshi Son, Ken Kobayashi, Bezos, MacKenzie Scott, Jill Biden, India Narendra Modi, Sam Altman, Sundar Pichai Organizations: Amazon, House, Japan, Apple, Service, BlackRock, Mitsubishi, The Washington Post, White, Google Locations: India

☆ Who’s coming to the White House’s Japan state dinner: the Clintons, De Niro, Bezos
▼ + stars: | 2024-04-10 | by ( Betsy Klein | ) edition.cnn.com time to read: +4 min

The guest list also includes Director of National Intelligence Avril Haines, US Trade Representative Katherine Tai, US Ambassador to the United Nations Linda Thomas-Greenfield and White House chief of staff Jeff Zients. NBC News White House correspondent Kelly O’Donnell, who is the president of the White House Correspondents Association, will attend, as well as Washington Post columnist Josh Rogin. First lady Jill Biden chose Simon to perform at the state dinner because Kishida also “shares an appreciation” for his work, a White House official said. The state dinner for South Korean President Yoon Suk Yeol featured a Broadway star’s performance of Don McLean’s “American Pie” – a personal favorite of Yoon. It led to one of the iconic state dinner moments of the Biden presidency – Yoon picking up a microphone to serenade guests with a few lines from the song.

Persons: Bill Clinton, Hillary Clinton, Robert De Niro, Jeff Bezos, Fumio Kishida, Joe Biden, Kristi Yamaguchi, Tim Cook, Laurence Fink, Jamie Dimon, Brad Smith, Shawn Fain, Cecile Richards, Antony Blinken, Janet Yellen, Alejandro Mayorkas, Jennifer Granholm, Gina Raimondo, National Intelligence Avril Haines, Katherine Tai, United Nations Linda Thomas, Jeff Zients, CQ, Jerome Powell, Bill Nelson, Biden, Donald Trump, De Niro, Nelson, ” Nelson, Sen, Bill Hagerty, Trump, Rahm Emanuel, Kelly O’Donnell, Josh Rogin, Kamala Harris, Doug Emhoff, Kathy Hochul, Josh Shapiro, Tony Evers, Roy Cooper of, Mazie, Jeff Merkley, Ashley Biden, Howard Krein, Finnegan Biden, Naomi Biden Neal, Peter Neal, Paul Simon, Jill Biden, Simon, Kishida, ”, It’s, Yoon Suk, Don McLean’s, Yoon, – Yoon, CNN’s Arlette Saenz Organizations: CNN, Amazon, White, Japan’s, Apple, BlackRock, JPMorgan, Microsoft, United Auto Workers, Planned, Biden, Homeland, Senate, Energy, National Intelligence, US, United Nations, White House, Joint Chiefs, Staff, Federal, NASA, Tennessee Republican, NBC, White House Correspondents Association, Washington, Democratic, Gov, Pennsylvania, South Korean Locations: Japanese American, Greenfield, Cleveland , Ohio, Japan, New York, Tony Evers of Wisconsin, Roy Cooper of North Carolina, Hawaii, Oregon

☆ Banks say they’re meeting climate pledges. A new report says they’re ineffective
▼ + stars: | 2024-04-10 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Why gold prices are at record highsFrom central banks to Costco customers, it seems everyone is buying gold these days, reports CNN’s John Towfighi. 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. 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. The Honest Company posted a strong fourth quarter in March.

Persons: –, ” Mark Carney, ”, GFANZ, Jamie Dimon, ” Dimon, JPMorgan, CNN’s John Towfighi, China —, Read, Jessica Alba, Ramishah Maruf, Alba’s, Chuck Organizations: CNN Business, Bell, New York CNN, European Central Bank, Glasgow Financial Alliance, UN, Bank of England, ECB, MIT, Columbia Business School, Zero Banking Alliance, United Nations, decarbonization, CNN, JPMorgan Chase, State, JPMorgan, Investors, Federal Reserve, China, People’s Bank of China, Reuters, UBS, The Honest, The Honest Company, Honest, Nasdaq Locations: New York, Glasgow, China, India, Turkey

☆ With inflation stalling, the long-predicted storm clouds in the economy may actually be forming
▼ + stars: | 2024-04-10 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

New York CNN —Jamie Dimon warned two years ago that storm clouds and a hurricane were brewing in the US economy. On top of that, the unemployment rate has stayed below 4% for more than two years despite 11 rate hikes intended to slow the economy in an effort to curb decades-high inflation. But potentially persistent inflation isn’t the only red flag in the economy right now. Small-business owners haven’t felt this bad about the economy in over a decadeAlthough the economy is booming by many measures, including last month’s blowout jobs report, small business owners aren’t feeling gung-ho about it. That’s significant because that cohort is experiencing an even lower unemployment rate than the nation overall.

Persons: Jamie Dimon, Dimon, Michelle Bowman, she’s, Bowman, ” Bowman, haven’t, Holly Wade, Bill Dunkelberg, aren’t Organizations: New, New York CNN, JPMorgan Chase, Federal Reserve, FactSet, National Federation of Independent, York Locations: New York

☆ Jamie Dimon had a lot to say in his annual letter to shareholders
▼ + stars: | 2024-04-09 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at Jamie Dimon's annual letter to shareholders and why this edition is so different . The big storyDimon sounds offWin McNamee/Getty Images; Chelsea Jia Feng/BIWhen Jamie Dimon talks, people tend to listen. Dimon's annual letter to shareholders grabs the business world's attention in ways most executives can only imagine. Dimon described the tech as just as innovative and impactful as the printing press, steam engine, electricity, and the internet, writes Business Insider's Jyoti Mann. The polarization of politics was something Dimon touched on in his letter, urging people to resist being "weaponized."

Persons: —, Jamie Dimon's, Jamie's, Win McNamee, Chelsea Jia Feng, Jamie Dimon, Larry Fink, Dimon, Insider's Jyoti Mann, BI's Theron Mohamed, BI's Juliana Kaplan, Alex Brandon, Rebecca Zisser, he's, it'd, David Rosenberg, Jenny Chang, Rodriguez, Elon Musk, Tesla, Musk, Gabor Cselle, Brooks Kraft, Zers, they'll, they've, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Business, Service, JPMorgan, Democratic, Monetary Fund, Microsoft, Google, Twitter, Brooks Kraft LLC, Getty, Warner Bros, Oxford High, Boeing Locations: Pennsylvania, Asia, Hong Kong, Singapore, Dubai, Abu Dhabi, London, New York

☆ JPMorgan drops its recession call for the first half and now sees a 55% chance of a soft landing for the global economy
▼ + stars: | 2024-04-09 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +3 min

JPMorgan scrapped its recession forecast for the first half of 2024 and now sees 55% odds of a soft landing. The bank sees a 30% chance that global expansion persists without major policy easing. AdvertisementJPMorgan has backed off from its recession forecast for the first half of 2024 and says it now sees a 55% chance of a "soft landing" for the global economy through late next year. Related storiesBut now, with upbeat data painting a rosier picture, the bank sees a 55% chance of a soft landing scenario extending through at least the end of next year. On the earnings side, corporates in developed markets surpassed expectations last year, with margins holding close to record highs, demonstrating surprisingly resilient profitability despite high policy rates.

Persons: —, Bruce Kasman, Joseph Lupton, Kasman, Lupton, Jamie Dimon, Dimon Organizations: JPMorgan, Service

☆ The Jamie Dimon manifesto
▼ + stars: | 2024-04-09 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +7 min

The 2023 shareholder letter from JPMorgan Chase CEO Jamie Dimon is chock full of policy ideas. Jamie Dimon, the billionaire CEO of JPMorgan Chase, outlined some of the biggest issues facing the company, the country, and the world in his 2023 annual shareholder letter. But he says that the US needs to flex its other muscles of power — economic policy, diplomacy, and intelligence — beyond military strength. Dimon points to the growth in wage inequality, saying that "wrong" policy falls disproportionately on the backs of lower-earning Americans. Dimon previously said that taxes on the wealthy could help offset the costs of bolstering the EITC.

Persons: Jamie Dimon, —, JPMorgan Chase, who's, Dimon, Oppenheimer, Donald Trump Organizations: JPMorgan Chase, Service, JPMorgan, US, Ukraine, Woods, Monetary Fund, American Locations: Ukraine, China

☆ Jamie Dimon says AI could be as transformative as electricity or the internet—here's how to invest
▼ + stars: | 2024-04-09 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

JPMorgan Chase CEO and chairman Jamie Dimon believes artificial intelligence innovations will have as big of an impact on society as the invention of electricity and the internet. JPMorgan Chase began using AI over a decade ago, Dimon said in the letter. Additionally, JPMorgan Chase invests $12 billion annually in a wide variety of technologies, including AI. Dimon likening AI innovation to the invention of the internet suggests the tech's impact may be felt beyond the business world. In a Nov. 9 blog post, Microsoft co-founder Bill Gates said AI "will utterly change how we live our lives, online and off."

Persons: Jamie Dimon, Dimon, JPMorgan Chase, he's, Mark Cuban, I've, Bill Gates Organizations: JPMorgan Chase, JPMorgan, CNBC, Microsoft

☆ The stock market is shrinking and Jamie Dimon is worried
▼ + stars: | 2024-04-09 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +10 min

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, ”

☆ Jamie Dimon says AI will have 'extraordinary' consequences and may be as transformative as electricity and the internet
▼ + stars: | 2024-04-08 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +1 min

Jamie Dimon compared the potential impact of artificial intelligence to innovations like the internet. He said JPMorgan Chase now has 2,000 AI experts working in areas such as fraud and risk. Dimon flagged that AI risks need to be rigorously managed and ethics maintained. AdvertisementJamie Dimon compared the potential impact of artificial intelligence to that of other innovations in history including the "printing press, the steam engine, electricity, computing and the internet." This story is available exclusively to Business Insider subscribers.

Persons: Jamie Dimon, JPMorgan Chase, — Organizations: JPMorgan, Service, Business

☆ Jamie Dimon says in shareholder letter AI could be as consequential to the economy as electricity
▼ + stars: | 2024-04-08 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +5 min

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

☆ Derivative AI benefits to 2 portfolio stocks put them right where they need to be
▼ + stars: | 2024-04-08 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Vertiv is selling at 66 times earnings and was a SPAC for heaven's sake," Jim Cramer said Monday. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Financials, Eaton, Jefferies, Cramer, Jamie Dimon, It's, Dimon, Jamie, Carolyn Boroden, Jim, Jim Cramer's Organizations: CNBC, Consumer, Utilities, Health Care, Tech, Club, Wolfe Research, HP, JPMorgan, Jim Cramer's Charitable Locations: Estate, U.S

☆ Why 2024 will be a year of fits and starts for dealmaking on Wall Street
▼ + stars: | 2024-04-08 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

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

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