Thursday, July 29

JPMorgan

China regulators, Hang Seng, JPMorgan, Markets, MI Exclusive, Shanghai Composite, Shanghai Composite Index, Tech stocks

China’s crackdown on education providers sends stocks tumbling. JPMorgan says the new rules could make the sector’un-investable’..

A trader rises above the crowd to get his order in July 4, 1997 during a dramatic morning session at the Hong Kong Futures Exchange. REUTERS Chinese education stocks tumbled on Monday after officials announced new rules for the sector. The regulations effectively ban private tutoring, a major sector in China's competitive education system. JPMorgan analysts have said this could make Chinese education stocks'un-investable'. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Chinese education stocks tumbled on Monday after officials confirmed that new regulations would be put in place that ban after-school tutoring businesses from making a profit.The competitive nature of China's education system has driven demand for private learning and tutoring for stud...
ARK, Ark ETF, Ark Funds, ARK Innovation ETF, ARK Invest, Cathie Wood, cathie wood etf, JPMorgan, Markets, MI Exclusive

Cathie Wood’s flagship ARK fund shows dot-com bubble traits and may be luring investors into a’bull trap,’ JPMorgan strategist says

Cathie Wood, CEO and chief investment officer of ARK Invest. ARK Invest Cathie Wood's ARK Innovation ETF is demonstrating bubble-like traits similar to those seen during the excessive speculation of internet-related companies in the late 1990s, and could be luring investors into a "bull trap," according to JPMorgan strategist Shawn Quigg.In a note dated July 15, Quigg wrote that a second-half pick-up in Treasury yields and a shift in the growth dynamic of the economy could trigger a bull-trap reversal of shares in the exchange-traded fund."A looming rise in yields could be a catalyst to accelerate ARKK shares lower, in addition to the continued outperformance of large staple-tech stocks over disruptive-tech stocks, and pressing ARKK into the capitulation phase," he wrote.JPMorgan...
carbon offset markets, carbon offsets, ESG, Jamie Dimon, JPMorgan, JPMorgan earnings, lumber prices, Markets, MI Exclusive, Timber

JPMorgan CEO Jamie Dimon says timber will be great business for the bank, after it bought a lumber firm during the market boom

JPMorgan CEO Jamie Dimon spoke to analysts after the bank posted strong earnings. Scott Olson/Getty Images JPMorgan CEO Jamie Dimon has said the timber business is going to be a "great thing" for the Wall Street giant, after the company snapped up a lumber investment firm during a boom in the market.Speaking about the purchase of lumber asset manager Campbell Global after the bank's strong earnings on Tuesday, Dimon said: "Timber assets is going to be a great thing for asset management."JPMorgan snapped up Campbell at the end of June. The Oregon-based company has around $5.6 billion of assets under management and specialises in global timberland investment.The purchase came after a huge rally in lumber prices that attracted hedge funds and other investors into the previously unre...
Bitcoin, crypto, Cryptocurrencies, El Salvador, El Salvador bitcoin, JPMorgan, Markets, MI Exclusive, Money Supply

El Salvador’s adoption of bitcoin as legal tender poses challenges for the network, JPMorgan says

A demonstrator holds up a sign against the government's bitcoin law during a LGBT community Pride parade on June 26, 2021 in El Salvador. APHOTOGRAFIA/Getty Images El Salvador's decision to adopt bitcoin as legal tender poses some systemic risks for the country and the digital asset's blockchain, according to JPMorgan.Doubt remains about whether the bitcoin blockchan can practically handle a significant fraction of payment activity were it to become widely used, a team of economists including Steven Palacio, Ben Ramsey, and Joshua Younger wrote in a note published Thursday.Bitcoin trading volumes commonly exceed between $40-50 billion a day, most of this activity is internalized by major exchanges, they said, adding that on-chain transactions have averaged around $10 billion dail...
Economy, JPMorgan, Markets, pandemic unemployment assistance, Unemployment, Unemployment aid, Unemployment benefits, unemployment filings

There’s’little sign’ that ending unemployment benefits early pushed people back to work, JPMorgan says

Over half of the states in the US have ended federal benefits ahead of their September expiration. Many governors cited the enhanced benefits as keeping workers out of the labor force. But a JPMorgan note says there's little sign that cutting off benefits brought workers back. LoadingSomething is loading. ...
eth, Ether, Ethereum 2.0, Ethereum network upgrade, JPMorgan, Markets, MI Exclusive, proof of stake, staking

More than $13 billion worth of ether has been staked on ethereum 2.0 as momentum builds behind the network overhaul

Ether is the cryptocurrency of the ethereum network. Photothek/Getty Images Ether holders have "staked" more than $13 billion worth of the cryptocurrency on the ethereum 2.0 network, as excitement builds around the overhaul of the system and the potential growth of the staking industry.Network users have now staked more than 6.1 million ether, up from 5.3 million a month earlier. The total value of the staked ether was around $13.52 billion at Monday's price, data from Etherscan showed.The ethereum blockchain is going through some major changes, collectively known as ethereum 2.0.At the centre is an overhaul of the way the network is secured and coins are created, from a "proof-of-work" system to a "proof-of-stake" system. Under proof-of-stake, users put forward-or "stake"...
JPMorgan, JPMorgan Asset Management, Markets, MI Exclusive, Reflation Trade, reopening, reopening trade, Rotation to value, Stock Market Outlook, US stocks, value stocks

The rotation into value stocks will get a new lease of life as the US economy booms, JPMorgan strategist says

The US economy is booming as Americans spend built-up savings. Noam Galai/Getty Images The rotation into value stocks should pick up pace again as the US economy roars, a JPMorgan strategist said. Hugh Gimber said Americans with built-up savings should benefit banks and consumer-focused companies. The so-called reflation trade has paused in recent days after the Fed appeared to shift its stance. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. The rotation into so-called value stocks in the US has further to run as rapid economic growth pushes up bond yields, a JPMorgan strategist has said, despite signs that the trade has cooled in recent days.Hugh Gimber, JPMorgan Asset Management's global market strategist, told Insider that companies in the financial ...