Latest news with #JPM
Yahoo
5 hours ago
- Business
- Yahoo
Jamie Dimon says he's not retiring from JPMorgan Chase for 'several years'
Don't expect JPMorgan Chase (JPM) CEO Jamie Dimon to step down anytime soon. That's still 'several years away,' he said on Monday. 'I love what I do. I love my country, and I don't know what I'd do if I wasn't fighting for something every day,' he said in a Fox News (FOXA) interview. Dimon kept the door open to staying on as executive chairman of the board after stepping aside from the top job. 'It's up to God and the board,' he added. Last year, Dimon said he would retire from the CEO job within five years. He has helmed the nation's largest bank for nearly two decades and is among the longest-running chief executives on Wall Street. JPMorgan's stock has soared 500% since Dimon became CEO in 2006, the Wall Street Journal reported. JPMorgan Chase reshuffled its executive leadership team at the start of 2024, handing some key executives 'new and increased responsibilities' and installing new leadership in other critical divisions — many of whom have stood out as potential replacements for Dimon. In the Fox News interview, the JPMorgan Chase CEO warned of more turmoil in bond markets if investors wary of the nation's growing debt shun the American dollar. 'If people decide that the U.S. dollar isn't the place to be, you could see credit spreads gap out; that would be quite a problem,' Dimon said. 'It hurts the people raising money. That includes small businesses, that includes loans to small businesses, includes high yield debt, includes leveraged lending, includes real estate loans. That's why you should worry about volatility in the bond market.' —Rocio Fabbro contributed to this article. For the latest news, Facebook, Twitter and Instagram.
Yahoo
3 days ago
- Business
- Yahoo
Jamie Dimon on the bond market, Palantir contract: Trending Tickers
JPMorgan Chase & Co. (JPM) CEO Jamie Dimon warned that "a crack" is beginning to form in the bond market (^TYX, ^TNX, ^FVX) — "It is going to happen" — at an economic forum on Friday The Trump administration has tapped Palantir Technologies (PLTR) for a new contract, according to the New York Times, to expand the government's tech infrastructure and databases. To watch more expert insights and analysis on the latest market action, check out more Market Domination here. Now time for some of today's trending tickers. We're looking at the 10 year treasury. JPMorgan Chase CEO Jamie Dimon saying we're going to see a crack in the bond market. Dimond making the comments an economic forum Friday, Josh, so Diamond saying issuing me this warning, there's going to be a crack in the bond market. You're gonna panic, he says. He says he's not gonna panic, but you're gonna panic. I might. Yeah, you might maybe everybody will. Uh, it is Jamie Dimon, and so obviously when he Speaks people do pay attention and he's right to say that you stay focused on the bond market, which was spooking folks and we can debate the reasons why it was maybe debts and deficits or was it recession fears and winding was the selling in in in Japanese government debt, but it was spooking folks. There's something about Jamie Dimon and always hitting exactly where kind of the market zeitgeist is, right? It's if we're talking about the Fed and the Fed should cut seems to be the narrative that's out there, it feels like he starts talking. About rates if it's recession, it's that bond markets definitely been the conversation, right? And I think to Diamond's point, higher yields have weighed on stocks, right? That's been the clear trade over the last month in the sense that a lot of the broader market has struggled as rates are going higher and it definitely feels like the biggest fear or one of the biggest fears in the market right now. City Stewart Kaiser laid out kind of three key risks to the bond or to the stock market, and he said simply that premium. Uh, that bond market premium continuing to move higher is one of the key risks he's concerned about right now. And you also hope that it does feel like things have perhaps right now calmed down a bit. I mean, I'm looking at the 10 year benchmark. We are back to 44. Well, what I find interesting, he also said in this conversation that this may be the wake up call that we need. I mean, I think with what we saw last two weeks, we got the wake up call already, so I'm not really sure what this really adds. I mean, of course. He's always going to make news with what he says, but you know, I, I think he's already to your point, talking about the zeitgeist, and we've been talking about it for a while. So, um, you know, to me it's, it's always nice to have a Jamie headline here and there, but I'm just really not sure what new things we're learning from his insights today. I mean, he's he's right. I mean debts and deficits, it's are a big challenge, and bond markets gonna have to navigate that. We are checking in on Palantirer, and by the way, those shares tacking on a nice 5%. In today's trade that's at the New York Times reported President Trump has expanded the software company's work across the federal government, tapping the company's technology which can easily organize, we know, and analyze data pulled from different agencies. So this was the Times report how the Trump administration has expanded Paltier's work, jobs for the government. They say the company has received more than $113 million in federal government spending since Trump took office. It does not, and that doesn't include, by the way. They see this nearly $800 million contract that the DOD awarded Alex Karp's company last week. This has not been a stock by what you want to bet against. It's been rough. No, short sellers have lost over $2 billion betting on this stock since April 8th. That's from, uh, S3 Partners, Josh. But you just zoom out on the stock like we're doing right now, right? You look over 6 months, things up 91%. Like stock is now trading at basically an all-time high, right around 470% over the past 12 months. Yeah, it's, it's it's crazy. Crazy crazy chart and I think I was when we were talking about this before the show, I was looking stock was only up 1% and I was like, OK, maybe we finally just maxed out on potential catalysts here because it is a good contract and the stock wasn't moving that much. Now interesting as we get the broader market rally that we're starting to see into the close. Palantirer is one of the key movers. Palantirer feels like it's been a little bit of a leader for the market. Palantirer kind of moves a little bit higher than the market's moving, but it's definitely one of those hype trades, right? Oh, what do you make of it? Pallanter and Nvidia, these are companies you don't bet against now. I think. Most fascinating to me is that there were some concerns that defense stocks were going to get hit as the Doge operation was well underway, and the fact that Palantirer has done better than most expected, but clearly still winning more contracts and that Trump is is very much leaning into Karp's business is is obviously another reason that you will not now bet against Palantirer. And by the way, what else happened this week? Fannie Mae told us they're launching this AI powered crime detection unit. Who did they partner with? Patienter.
Yahoo
3 days ago
- Business
- Yahoo
Spot Bitcoin ETFs Broke 10-Day Inflow Streak With $358M of Outflows Thursday: JPMorgan
U.S.-listed spot bitcoin BTC exchange-traded funds (ETFs) recorded their first day of net outflows in 10 trading sessions on Thursday, according to a research report by JPMorgan (JPM). The Wall Street bank estimated that spot bitcoin ETFs saw $358 million of redemptions yesterday, according to a Friday report, with just one, BlackRock's iShares Bitcoin Trust (IBIT) attracting a net inflow. IBIT gathered in a net $125 million, the bank observed. In contrast, Fidelity's FBTC saw net outflows of $166 million, leading the redemptions, the report said. Other major contributors included the Grayscale Bitcoin Trust (GBTC) -$107 million, ARK 21Shares Bitcoin ETF (ARKB) -$89 million and the Bitwise Bitcoin ETF (BITB) -$71 million, the bank said JPMorgan said smaller outflows were also noted across the remaining issuers. The bitcoin price slipped 1.1% on the day, but market activity remained robust with trading volumes of $5.39 billion, well above the 20-day average of $2.81 billion, the report added. The world's largest cryptocurrency was trading around $105,656 at publication time.
Yahoo
3 days ago
- Business
- Yahoo
Jamie Dimon on the bond market, Palantir contract: Trending Tickers
JPMorgan Chase & Co. (JPM) CEO Jamie Dimon warned that "a crack" is beginning to form in the bond market (^TYX, ^TNX, ^FVX) — "It is going to happen" — at an economic forum on Friday The Trump administration has tapped Palantir Technologies (PLTR) for a new contract, according to the New York Times, to expand the government's tech infrastructure and databases. To watch more expert insights and analysis on the latest market action, check out more Market Domination here. Now time for some of today's trending tickers. We're looking at the 10-year Treasury. JP Morgan Chase CEO Jamie Diamond saying we're going to see a crack in the bond market. Diamond making the comments an economic form Friday, Josh. So Diamond saying issuing this warning, there's going to be a crack in the bond market. You're going to panic, he says. He says he's not going to panic, but you're going to panic. I might. Yeah, maybe you might maybe everybody will. Uh, it is Jamie Diamond and so obviously when he speaks people do pay attention and he's right to say that you stay focused on the bond market, which was spooking folks. And we can debate the reasons why, was it maybe it's debts and deficits or was it recession fears and widening, was it the selling in in Japanese government debt, but it was spooking folks. There's something about Jamie Diamond and always hitting exactly where kind of the market zeitgeist is, right? It's if we're talking about the Fed and the Fed should cut seems to be the narrative that's out there, it feels like he starts talking about rates. If it's recession, it's that. Bond market has definitely been the conversation, right? And I think to Diamond's point, higher yields have weighed on stocks, right? That's been the clear trade over the last month in the sense that a lot of the broader market has struggled as rates are going higher and it definitely is feels like the biggest fear or one of the biggest fears in the market right now. City Stewart Kaiser laid out kind of three key risks to the bond or to the stock market and he said simply that premium that bond market premium continuing to move higher is one of the key risks he's concerned about right now. And yet also hope though it does feel like things have perhaps right now calmed down a bit. I mean, I'm looking at the 10-year benchmark, we are back to 44. Well, what I find interesting, he also said in this conversation that this may be the wake-up call that we need. I mean, I think with what we saw last two weeks, we got the wake-up call already. So I'm not really sure what this really adds. I mean, of course he's always going to make news with what he says, but you know, I I think he's already to your point talking about the zeitgeist and and we've been talking about it for a while. So, um, you know, to me it's it's always nice to have a Jamie headline here and there, but I'm just really not sure what new things we're learning from his insights today. Yeah. I mean, he's he's right by me. I mean, debts and deficits are a big challenge and bond markets are going to have to navigate that. Yeah. We are checking in on Palantir by the way, those shares tacking on a nice 5% in today's trade. That's after the New York Times report of President Trump has expanded the software company's work across the federal government, tapping the company's technology, which can which can easily organize, we know and analyze data pulled from different agencies. So this was the Times report how the Trump administration has expanded Palantir's work, Josh, with the government. They say the company has received more than 113 million in federal government spending since Trump took office. Does not and that doesn't include by the way, they say this nearly $800 million contract the DOD awarded Alex Karp's company last week. This has not been a stock by the way you want to bet against. It's been rough. No, short sellers have lost over two billion dollars betting on this stock since April 8th. That's from S3 partners, Josh. But you just zoom out on the stock like we're doing right now, right? You look over six months, things up 91%. Like stock is now trading at basically an all-time high, right? Up 470% of the past 12 months. Yeah, it's it's a crazy, crazy chart. And I think I was when we were talking about this before the show, I was looking stock was only up 1% and I was like, okay, maybe we finally just maxed out on potential catalyst here because it is a good contract. And the stock wasn't moving that much. Now interesting is we get the broader market rally that we're starting to see into the close. Palantir's one of the key movers. Palantir feels like it's been a little bit of a leader for the market. Palantir kind of moves a little bit higher than the market's moving, but it's definitely one of those hype trades. But what do you make of it? Palantir, Nvidia, these are companies you don't bet against now. I think what's most fascinating to me is that there were some concerns that defense stocks were going to get hit as the DOD operation was well underway and the fact that Palantir has done better than most expected, but clearly still winning more contracts and that Trump is is very much leaning into Karp's business is is obviously another reason that you will not now bet against Palantir. And by the way, what else happened this week? Fannie Mae told us they're launching this AI powered crime detection unit. Who do they partner with? Palantir. Palantir.
Yahoo
3 days ago
- Business
- Yahoo
Ethereum Upgrades Have Failed to Boost Network Activity in Meaningful Way: JPMorgan
The Ethereum blockchain has yet to see a significant increase in activity despite successive upgrades, investment bank JPMorgan (JPM) said in a research report. "Neither the number of daily transactions nor the number of active addresses saw a material increase post recent upgrades," analysts led by Nikolaos Panigirtzoglou wrote in the Wednesday report. Still, total value locked (TVL) on Ethereum increased between the Dencun upgrade in March 2024 and Pectra earlier this month, the bank noted, possibly due to increased lending and borrowing on decentralized exchanges (DEXs), but the increase looks lower in dollar terms than in the blockchain's ether ETH token. Ethereum activated the Pectra upgrade on May 7. The update aims to streamline staking, enhance wallet functionality and improve overall efficiency. Pectra makes the ETH token and Ethereum itself more appealing to institutions, the bank said. It distinguishes the network from competitors, but the upgrades haven't boosted activity in a meaningful way. The bank noted that following the Dencun upgrade, both average and total fees fell, in part because of a shift toward layer 2 chains. Ether's circulating supply also increased after Dencun, which raised concerns about the crypto "becoming an inflationary asset amid subdued transaction activity," JPMorgan said. Futures positioning suggests that institutions played a large role in the recent rally in ether, the report added. Ether has risen more than 45% in the past month, CoinDesk data show.
