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JPMorgan Chase maintained its multi-year bullish outlook for gold, forecasting prices to rise to $3,000 an ounce next year.
JPMorgan Chase recently released a report evaluating the U.S. Department of Government Effectiveness (DOGE). The agency, founded by President-elect Donald Trump and led by Elon Musk and Vivek Ramaswamy, aims to streamline federal operations and cut wasteful spending. "On government effectiveness, Trump is expected to pursue an agenda that advocates for reducing red tape. This includes the creation of a new Department of Government Effectiveness," the report said, adding that...
On August 8, JPMorgan Chase said that three-quarters of the world's carry trades have been positioned squaring, and the recent decline has erased this year's gains. Quantitative strategists Antonin Delair, Meera Chandan and Kunj Padh said in a letter to clients that returns on the G-10, emerging markets and global carry trade baskets tracked by the bank have fallen by about 10% since May. The decline erased year-to-date returns and slashed the cumulative gains since late 2022.
JPMorgan said it expects the Fed to cut rates by 50 basis points each in September and November.
On July 12, the U.S. stock market opened, the Dow rose 0.2%, the S & P 500 rose 0.1%, and the Nasdaq rose 0.1%. Citigroup (C. N) rose 1.1% after better-than-expected Q2 results. JPMorgan Chase (JPM. N) fell nearly 2%, and Q2 net interest income missed expectations. Wells Fargo (WFC. N) fell 6.5%, and Q2 net interest income fell 9% year-on-year, missing expectations. Tesla (TSLA. O) fell 2.2%, and UBS downgraded its rating from neutral to sell.
JPMorgan's Onyx has released a web3 report on social commerce, which is worth more than $1 trillion and is expected to grow 600% by 2030.
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