Latest news with #JamieDiamond
Yahoo
6 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
19-05-2025
- Business
- Yahoo
JPMorgan investor day: What to expect from the bank's forecasts
JPMorgan Chase & Co. (JPM) is hosting its annual investor day on Monday, and Wall Street will be listening intently to hear the major bank's forecasts on the US economy and tariff impacts, outlook on the company's own full-year performance, and whether CEO Jamie Dimon will comment further about any succession plans. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. JP Morgan Chase's 2025 Investor Day is underway. Some of the things we are watching, commentary on tariffs, the company's financial outlook, tech spending and succession planning. First up, how the bank is assessing the early impact of tariffs. JP Morgan saying tariffs could hurt some parts of the business, like wholesale commercial and industrial loans, depending on which industries are hit and how much of the costs could be passed on to the consumer. The firm's consumer and community banking head said consumer sentiment is worsen worsening, but it's not yet translating into changes in spending. Very interesting economic outlook there. We're also watching the firm's outlook for 2025, the bank saying no big changes, maintaining its full year net interest income forecast of $94.5 billion, essentially in line with estimates. The bank will revisit its guidance in its second quarter earnings report that comes a couple months from now. JPM says it's positioned to deliver strong returns across a range of macroeconomic conditions and the reserves reflect the current level of uncertainty. Excess capital hitting around $57 billion in the first quarter, making the firm quote positioned to protect and grow the franchise under a range of circumstances. Another thing to watch, tech spend for the year will be about 18 billion. The firm says it's helping increase efficient efficiencies, particularly from none other than AI. The firm will also revisit resist headcount growth and leverage efficiency of its current staff as well. We're also of course watching for an update on Jamie Diamond's potential retirement. Last year, Diamond said he had less than five years left and investors are eager to learn more about his succession planning. Of course, we will bring you any of those headlines as we get them.
Yahoo
19-05-2025
- Business
- Yahoo
Jamie Dimon speaks at JPMorgan investor day: Key takeaways
JPMorgan Chase (JPM) held its annual investor day on Monday. The bank's chairman and CEO Jamie Dimon warned of an "extraordinary amount of complacency" in the markets. Find out why in the video above. To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here. Well, JP Morgan Chase CEO Jamie Diamond did not announce his retirement today, but he did voice a market warning at the company's investors day. Here with the details, Yahoo Finances David Hollrith. Jamie Diamond giving a warning, I I say it ain't so. Well, so diamonds, uh, what stood out today of all of what he said, the most important thing is his present concern in, um, the fact that markets could be misjudging the effective, uh, impact of tariffs. It's pretty funny because a few months ago, didn't he sort of say get over it about tariffs? He said he kind of at the beginning of the year, didn't he kind of? This was before we got the worst case of the trade. Yes, exactly. He did. Here's what he had to say though. Take a listen. My own view is you know where people feel pretty good because you haven't seen an effect of tariffs. The market came down 10%, it's back up 10%. I think that's an extraordinary amount of complacency. So complacency was on the whole what he was warning about, and Diamond's not alone in this either. Uh, Jane Fraser, she wasn't really talking about the complacency so much as how much of a change, um, The City Group CEO. everything has happened since since, uh, the April tariff roll out. And so, um, overall uncertainty was mentioned about 13 times during investor day just to keep track of it. So, uh, that goes to show just where, um, the bank is and their earnings are unchanged. Investment banking though, looks a little bit worse for the second quarter. Uh, trading also is a little bit lighter than expected. What about retirement plans? Any more color and commentary there? Um, they talked about a lot of stuff, um, as far as like I I couldn't tell you retirement plans. Did you listen to that today? No, I just wondered if he gave any kind of firm answer there. I mean, there were potential successors to Diamond who spoke today. His retirement, not retirement plans that they're offering us, but his retirement, which is what people, although I'm interested in both. I mean he mentioned that too. Yeah, yeah. They talked about both. Um, as far as successors, what he did say, which is kind of interesting, he said he said everything is the same as it was last year, but also, uh, he said, obviously, if I stick around for another three years, which is in line with what he said, but also it's more than the base case could have been. So so we got a little more clarity there. Did he Was it the terms of Was it last year that he said like five years or something? Was that it? He said less than five years. Got it. So now we're in this scenario where it's the clock is still ticking and obviously this is a huge thing. He has built the bank into what it is now today. And so whoever his successor is, we need to know and the fact that they aren't ready to deliver that does leave investors in a little bit of internal, uh, uncertainty too. So For sure. All right, thank you, David. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
