JPMorgan Financial News

By Matt Tracy

US equity investors are in for disappointment as economic growth is set to be weaker than expected this year, according to Morgan Stanley’s staunch bear, Michael Wilson.

The world’s biggest banks aren’t telling stakeholders what they need to know to judge how big the industry’s carbon footprint is, according to a fresh study.

Private equity firms are under pressure to deploy idle capital and sell assets to realise returns, a force that should underwrite a recovery in deal flow in 2024 and 2025, snapping the capital markets drought.

The US Securities and Exchange Commission (SEC) will likely be forced to approve multiple spot Bitcoin (BTC) exchange-traded fund (ETF) applications following the recent Grayscale victory. 

Look who’s got a gig in one of the biggest lithium deals going. It’s Barrenjoey Capital Partners, now working alongside JPMorgan on behalf of Albemarle for the company’s $6.6 billion takeover offer lobbed at Liontown Resources.

Turns out there was solid demand for Ventia Services Group’s shares at 3.6 per cent discount on Friday evening, paving the way for one of its IPO vendors to take more money off the table that it initially planned.

The stock last traded at $68.75 after hitting a peak of $70.28 while trading volume was 5.4 times its 10-day moving average. Dell, on track for its biggest ever daily percentage gain, is up more than 70% for the year-to-date.

Barclays Plc has earmarked cash from its balance sheet to hold corporate loans and compete directly with private credit funds, according to people with knowledge of the matter, as more banks look for ways to gain a foothold in the $1.5 trillion market for private debt.

Investing.com — U.S. futures traded in a mixed fashion Thursday, as investors awaited the release of key inflation and unemployment data as clues of future Federal Reserve monetary policy decisions.

Traders are abandoning the euro at pace as speculation grows the European Central Bank will struggle to tighten monetary policy further, even with inflation running far above target.

This year’s rally in homebuilding stocks has outstripped even the AI-fueled tech boom, and if analysts are to be believed, that outperformance is set to continue.

Global banking group UBS has beaten earnings expectations and beaten the record for quarterly profit in the banking sector.

Jindal Stainless. Bernstein recommends an outperform on Cipla, JPMorgan has a neutral rating on Maruti Suzuki and Motilal Oswal recommends a buy on Max Healthcare.We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Investec on Jindal Stainless: Buy| Target Rs 510 Investec maintained a buy rating on Jindal Stainless but raised the target price to Rs 510 from Rs 410 earlier. The company has better capital allocation avenues.

interest rates on existing mortgages and deposits, the latest state-directed measures to shore up growth in the world's second-largest economy. The big state-owned lenders are working on reducing rates on the majority of the nation's 38.6 trillion yuan ($5.3 trillion) of outstanding mortgages, according to people familiar with the matter. The reductions will only affect loans on first homes, two of the people said. Lenders such as Industrial & Commercial Bank of China Ltd.

A surge in short sales of US Treasury futures suggests hedge funds are expanding basis trades, a popular tactic that may be injecting leverage into a bond market whipsawed in the wake of this month’s selloff. 

Medicare, taking aim at some of the most widely used and costliest medicines in America. At stake is arguably the government’s strongest effort to date to tackle high drug costs—if drugmakers can’t persuade courts to scuttle the negotiating powers that Medicare was granted last year. On the list of targeted medicines announced by the Biden administration Tuesday are treatments for cancer, diabetes and heart disease that can cost tens of thousands of dollars a year or more, including blood thinner Eliquis and diabetes treatment Jardiance.

Investing.com — U.S. futures traded largely unchanged Tuesday, with investors warily awaiting a deluge of economic data this week, culminating with Friday's monthly employment report.

SoftBank-backed British semiconductor and chip manufacturer Arm will start investor meetings next week, ahead of what is slated to be the year’s biggest initial public offering.

Powell has the bond market exactly where he wants it: lacking conviction as to the Federal Reserve’s next steps. It’s a scenario — evident in part through split futures positioning — that gives the Fed chair and his colleagues leeway to quickly adjust policy in the coming months as economic data unfolds, without having to fret about potentially roiling the world’s biggest fixed-income market. Powell said in a Friday speech in Wyoming that the central bank is ready to tighten again if needed to tame inflation. For investors, it means that reports like the monthly jobs data out next week will be crucial, and that it will be tough to crown a winner in the battle between the bond bulls and bears any time soon, even with Treasuries poised for four straight months of losses. Powell has “retained maximum policy optionality,” Mohamed El-Erian, chief economic adviser at Allianz SE and a Bloomberg Opinion columnist, told Bloomberg Television. The 10-year yield ended the week a bit above 4.2%, after touching 4.36% during the week, the highest since 2007. US Treasuries have lost 1.3% this month through Thursday, leaving them down slightly for 2023, according to a Bloomberg index.

Here is your Pro Recap of the top takeaways from Wall Street analysts for the past week: upgrades for Netflix, Fulcrum Therapeutics, and Grab Holdings, and downgrades for Medical Properties Trust and Dick's Sporting Goods.