Tag Archives: JPMorgan

“Our entire pandemic response has been inequitable, and it’s our capitalist economy. It’s so inequitable that Google gets to give tests to the rich people, and the poor people don’t [get tests],” said Monica Gandhi, a professor of medicine at the University of California at San Francisco, who studies infectious diseases. “The private schools get them, and the public schools don’t. Our entire response has been one of inequity.” Source link

Some reassuring words on record-setting markets into the New Year from JPMorgan strategists.  “In particular, outside of the Big 10 stocks in the U.S., equity drawdowns and multiple de-rating have been severe. Russell 3000 was down only -4% and Nasdaq Composite -7% from 12-month highs, however, the average drawdown for constituents in these indices was -28% and -38%, respectively. Some argue this price action is a harbinger of late-cycle dynamics or at least an intra-cycle 10-20% market… Source link

JPMorgan says this cryptocurrency is a better buy than Bitcoin as interest rates rise — here are 3 easy ways to invest Bitcoin may gobble up most of the headlines, but America’s biggest bank says Ethereum, the world’s second-most valuable cryptocurrency, might be the better bet as interest rates start climbing. In a recent report, analysts at JPMorgan state that Ethereum’s growing number of uses — peer-to-peer lending, NFTs, gaming, stablecoins — should help it maintain its value… Source link

Jamie Dimon, the CEO of the largest U.S. bank, took another jab at bitcoin bulls on Monday, alleging that the cryptocurrency may not be limited in quantity. “I’ll just challenge the group to one other thing: how do you know it ends at 21 million? You all read the algorithms? You guys all believe that? I don’t know, I’ve always been a skeptic of stuff like that,” said the JPMorgan Chase (JPM) CEO at an Institute for International Finance event on Oct. 11. The price of bitcoin was hovering… Source link

JPMorgan Chase (JPM) kicked off the second quarter earnings season for bulge-bracket backs on Tuesday, reporting better-than-expected earnings results that were bolstered by a strong economy and the release of credit reserves. Here are the key figures versus estimates, according to Bloomberg: Adjusted earnings per share (EPS): $3.78 vs. $3.15 estimate Excluding credit reserve releases: $3.03 per share Revenue: $31.4 billion vs. $30.06 billion estimate During the quarter, the largest U.S. bank by… Source link

(Bloomberg) — El Salvador’s declaration of Bitcoin as legal tender could create challenges for both the country and the cryptocurrency, according to a team from JPMorgan Chase & Co. Bitcoin trading volumes commonly exceed $40 billion to $50 billion per day, but most of that is internalized by major exchanges, said a group from JPMorgan including Steve Palacio, Joshua Younger and Veronica Mejia Bustamante, in a report Thursday. A large portion of Bitcoin is locked up in illiquid entities,… Source link

COVID is receding and the economy is rebounding. Talk about it, and most analysts will focus on consumer spending, government stimulus, and the rise and fall of jobs numbers. These are important metrics, and they merit their headlines, but they don’t necessarily give a full picture. While the US economy is consumer based – and consumer spending makes up almost three-fourths of the GDP – we cannot discount heavy industry. The steel sector may be old technology, but it’s still a… Source link

(Bloomberg) — Bitcoin’s recent bounce has yet to dispel doubts about its vulnerability following a rout in May. The cryptocurrency has jumped about 14% over two days and was trading at $38,295 as of 11:05 a.m. in London on Thursday. While the momentum may cheer bulls, a JPMorgan Chase & Co. team said backwardation in a part of the futures market — where the spot price is above futures prices — is reason for caution. “We believe that the return to backwardation in recent weeks has been a… Source link

In the past week, investors have had to cope with multiple conflicting signals from the markets. The April jobs report, which was expected to show almost 1 million new positions for the month, showed only 266,000. The official unemployment number ticked upward slightly to 6.1%, and hourly wages also gained – by 0.7%. That last would seem to be a positive – except that, combined with the massive government stimulus injecting cash into the economy – higher wages are seen as a portent of… Source link

Ether (ETH) has ascended to the apex of cryptocurrency in the last couple of weeks, taking the top spot from bitcoin (BTC). As of this writing, ether has grown 40.23% so far since April 1 to a new all-time high of $2,700. In the same period, bitcoin has experienced a drop off of 7.39% from $58,772 on April 1 to $54,428, this morning.  Difference between ether and bitcoin JPMorgan points out the difference between ether and bitcoin as it pertains to this study. Bitcoin is much more a… Source link