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Mike Wilson: The Consumer Is Falling Off A Cliff
Since late 2022, Morgan Stanley's Mike Wilson and JPM's Marko Kolanovic have peddled a bearish narrative that has been as relentless as it has been wrong. Just 30% of stocks have outperformed the S&P 500 YTD.
Wall Street banks cut China's growth forecast after dull second quarter JPM cut China's Gross Domestic Product (GDP) forecast to 5% from 5.5%. The bank tempered its outlook on the property industry too, with no turnaround in sight yet.
EXCLUSIVE-JP Morgan says client shares in Russia's... J.P. Morgan uncovers possible shortfall in retailer Magnit's shares. Magnit buying back foreigners' blocked shares at 50% discount. JPM plans to participate in Magnit tender offer -document.
JP Morgan says client shares in Russia's Magnit may be... J.P. Morgan uncovers possible shortfall in retailer Magnit's shares. Magnit buying back foreigners' blocked shares at 50% discount. JPM plans to participate in Magnit tender offer -document.
Overstock.com, JPMorgan Chase rise; Lindsay, McCormick fall; Thursday, 6/29/2023 JP Morgan Chase & Co. (JPM), up $4.27 to $142.86Bank stocks rose after 23 of the nation’s biggest banks passed “stress testing’ of their ability to withstand a severe recession. Overstock.com Inc. (OSTK) will rebrand as Bed Bath & Beyond.Lindsay Corp. (LNN), down $9.33 to $115.39.
Overstock.com, JPMorgan Chase rise; Lindsay, McCormick fall; Thursday, 6/29/2023 JP Morgan Chase & Co. (JPM), up $4.27 to $142.86Bank stocks rose after 23 of the nation's biggest banks passed the Federal Reserve's "stress testing" Overstock.com Inc. (OSTK) will rebrand as Bed Bath & Beyond after buying bankrupt company's intellectual property.
Overstock.com, JPMorgan Chase rise; Lindsay, McCormick fall; Thursday, 6/29/2023 JP Morgan Chase & Co. (JPM), up $4.27 to $142.86Bank stocks rose after 23 of the nation's biggest banks passed the Federal Reserve’s “stress testing’ of their ability to withstand a severe recession. Overstock.com Inc. (OSTK) will rebrand as Bed Bath & Beyond after buying bankrupt company's intellectual property.
BofA expects Fed to deliver two more rate hikes, JPM... BofA expects Fed to deliver two more rate hikes, JPM adds July hike expectation. BofA's new terminal rate forecast stands 5.5%-5.75%, it said in a note on Wednesday.
These Are the 10 Most Popular Stocks Among Boomer Investors in 2023 Boomer investors prefer to stick to tried and true companies. Only boomers held Exxon (XOM) within their top 12 holdings. JP Morgan (JPM) was ranked as No. 13 for Gen Z.
Sen. Warren seeks details on 'troubling' sale of First Republic to JPMorgan U.S. Senator Elizabeth Warren is questioning federal bank regulators on their decision to sell First Republic Bank to JP Morgan Chase. The FDIC announced this month it had seized First Republic and sold it to JPM in a deal that it estimated would cost its deposit insurance fund $13 billion.
Sen. Warren seeks details on 'troubling' sale of First Republic to JPMorgan U.S. Senator Elizabeth Warren is questioning federal bank regulators on their decision to sell First Republic Bank to the nation's largest bank, JP Morgan Chase. The FDIC announced this month it had seized First Republic and sold it to JPM in a deal that it estimated would cost its deposit insurance fund $13 billion.
AMZN Earnings Preview: Here Are The Main Things To Look For JPM's Jack Atheron says Amazon is "number 2 to GOOGL on the list of most controversial mega cap tech names" Wall Street's median sellside consensus expects AMZN to report: $0.21, Revenue of $124.7BN.
META Earnings Preview: "The Least Controversial Name Of Mega-Tech" JPM trader Jack Atherton says META is "probably the least controversial name of the tech group into earnings" Investors are starting to discuss the growth sustainability story into 2024 as the next leg of upside – many hope to get more clarity on that.
First Republic Weighing Up To $100BN In Asset Sales To Repay Emergency Fed, FHLB Loans First Republic Bank has $173BN in loans and $70BN in deposits (net of $30BN JPM et al deposit injection) If it can sell loans (many of which are IO loans secured by Hamptons mansions) close to par it may be able to restructure. FRC has $50 billion to $100 billion of long-dated securities and mortgages as part of a broader rescue plan.
JP Morgan lays off hundreds of mortgage employees JP Morgan Chase & Co has cut hundreds of mortgage employees, a source familiar with the matter told Reuters on Wednesday. Earlier in the day, JPM said it plans to hire more than 500 bankers catering to small businesses through 2024.
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