Jamie Dimon, CEO of the world’s most valuable bank and architect of the “fortress balance sheet” that helped JPMorgan emerge unscathed from the 2008 financial crisis, believes investors are downplaying the risk of a major market correction—one that could slash stocks by about a third. With stock market valuations and concentration at record highs, some…
Oct 9 (Reuters) – Wall Street’s main indexes edged lower on Thursday after Federal Reserve Chair Jerome Powell offered no fresh policy signals, leaving investors to rely on older data to shape sentiment. While markets have priced in aggressive interest rate cuts on hopes that the Fed will prioritize labor market support, minutes from the…
Gold futures broke $4,000 per ounce for the first time this week — a historic high that, for some, signals more than market jitters. It may reflect a deeper collapse of confidence in the American-led global financial system. The precious metal has surged more than 50 percent since January, driven by a rare convergence of…
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The stock market may look like it’s on a high, but according to Goldman Sachs (GS), it hasn’t crossed into bubble territory. “There are elements of investor behaviour and market pricing currently that rhyme with previous bubbles,” Peter Oppenheimer, Goldman’s chief global equity strategist, wrote in a new note. “However, we see key differences.” The…
Shoppers in Beijing. (Bloomberg) — China’s longest stock rally in years has done little to encourage households to shell out more money during a major holiday this month, a worry for an economy already entering a slowdown. After the summer ended with two of the weakest months for retail sales this year, preliminary figures showed…
Stocks have moved mostly higher during trading on Wednesday, largely offsetting the pullback seen in the previous session. The major averages have all moved to the upside, with the tech-heavy Nasdaq leading the way. In recent trading, the major averages have reached new highs for the session. The Nasdaq is up 178.73 points or 0.8…
Listen and subscribe to Opening Bid Unfiltered on Apple Podcasts, Amazon Music, Spotify, YouTube, or wherever you find your favorite podcasts. While Warren Buffett said, “our favorite holding period is forever,” occasional investor skittishness is nothing new. Yet has it gone to extremes? Despite solid stock market performance this year, “I think that we’re in…
Shares of mobile app technology company AppLovin (NASDAQ:APP) fell 14% in the afternoon session after a report surfaced that the U.S. Securities and Exchange Commission (SEC) was investigating the company’s data-collection practices. The probe reportedly reviewed allegations that the marketing platform company violated its platform partners’ service agreements in order to deliver more targeted advertising…
Hong Kong stocks fell on Monday as the US government shutdown hit investor sentiment and spurred demand for haven assets like gold. The Hang Seng Index declined 0.7 per cent to 26,944.34 as of 11am local time, trimming some of the 3.9 per cent gain recorded last week. The Hang Seng Tech Index lost 1.5…