The Stock Market and Industry Insights
Jamie Dimon sees ‘a little bit of a bubble’
JPMorgan CEO Jamie Dimon believes there’s “a little bit of a bubble” forming in the stock market.
During the Australian Financial Review business summit, Dimon expressed the importance of the Federal Reserve waiting to cut interest rates.
“You can always cut it quickly and dramatically. Their credibility is a little bit at stake here. I would even wait past June and let it all sort it out,” Dimon stated.
— Yun Li
JPMorgan’s Kolanovic says stay defensive
Marko Kolanovic, JPMorgan’s chief global markets strategist, advises clients to adopt a defensive approach in the stock market.
He points out the market’s expensive valuations and warns about the risks associated with overcrowding in momentum stocks, which could lead to a significant correction in this factor.
Kolanovic also highlights the market’s disregard for “substantial geopolitical and political risks” and expresses the belief that inflation might surprise on the upside. This could result in the Federal Reserve maintaining higher target rates for a longer period.
— Yun Li
Oracle shares surge after earnings
A view of Oracle headquarters on September 11, 2023 in Redwood Shores, California.
Justin Sullivan | Getty Images
Oracle shares experienced a remarkable surge of over 12% in extended trading after exceeding analysts’ earnings estimates for the fiscal fourth quarter.
The firm’s largest business segment, cloud services and license support, witnessed a 12% increase in revenue. However, the overall revenue fell slightly short of expectations.
— Yun Li