AI mania has powered Wall Street’s latest record run, creating trillions in market value. But the market may have already priced in most of the potential gains from the technology, wrote Goldman Sachs analysts in a Sunday note. Investors, the analysts said, often over-aggregate and over-extrapolate during major innovation booms. “Individual companies may be capable…
Eric Jackson thinks the dumb money isn’t so dumb anymore. The founder of EMJ Capital, Jackson is known for his contrarian takes on struggling stocks that he sees as turnaround stories. He correctly pegged ailing used car seller Carvana as a winner in 2022 and kicked off the surge in Opendoor Technologies that turned it…
Stocks and the price of gold fell Wednesday, as momentum on Wall Street reverses. The Standard & Poor’s 500 index sank 0.5%, though it’s still within 1% of its all-time high set this month. The Dow Jones industrial average dropped 334 points, or 0.7%, from its record set the day before, while the Nasdaq composite…
The recent collapse of subprime auto-lenders Tricolor Holdings and debt-heavy auto-parts company First Brands has raised questions about the health of the credit market. JPMorgan’s CEO Jamie Dimon voiced caution over the high-profile crack-ups, saying his “antenna” is up. “When you see one cockroach, there’s probably more,” Dimon said on the bank’s third-quarter earnings call…
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NEW YORK — Wall Street inched to more records on Wednesday following a surprisingly encouraging report on inflation and a stunning forecast for growth from Oracle because of the artificial intelligence boom. The Standard & Poor’s 500 rose 0.3% and set an all-time high for a second straight day. The Dow Jones industrial average dropped 220 points,…
With a volatile first half of the year in the books for markets, analysts from the BlackRock Investment Institute (BII) are finally taking some time to breathe and take stock of some lessons learned. The firm cited uncertainty around President Donald Trump’s tariff policies as a primary driver of price swings in the first half…
Good morning. Your English teacher and your gym teacher are getting married, so I’m told. Yes, Taylor Swift and Travis Kelce announced their engagement yesterday with a carousel of photos. Both were clad in Ralph Lauren. You can see the NFL star pictured down on one knee and the pop singer’s diamond engagement ring (it’s…
The stock market’s hot streak might soon come to an abrupt end, Goldman Sachs said. In a note to clients, the bank said that its equity asymmetry framework — one of its gauges that assesses stocks based on the market environment and the latest economic data — was sending a signal that the risk for…
Bullish exuberance among retail traders drove a new meme stock rally this week. According to Goldman Sachs, it’s just the latest episode in “one of the sharpest short squeezes on record.” And while it’s got room to run, it also raises the risk of a downturn, the bank said. Analysts said this week’s rally in…