Tom Lee on CNBC:
Says AI isn’t a bubble. Nvidia trades at 29x forward earnings, cheaper than Costco.
He adds that Palantir and other AI names are still in price discovery as corporate AI spending accelerates.
“It’s much more about the structural stories – AI being the main one in the U.S. – rather than trying to make a bet on the cyclical recovery of the economy,” says JPMorgan’s Gabriela Santos. “We really don’t think it’s the time for small caps or consumer names.”
https://t.co/SHa3krru0E
🚨 LATEST: BlackRock CEO Larry Fink says every currency, ETF, and asset will be digitized and tokenized with a global settlement layer connecting it all.
“We’re not talking about it enough. Most countries aren’t ready for what’s coming.”
The future of finance is tokenized 🚀
Joe Kernen: The stock market has been telling us what to believe ever since Liberation Day. The stock market said tariffs are not going to be the end of the world like so many business reporters said... and here we are — what are we up, 36% since then?
It was great to start #IMFMeetings week by sitting down with @CNBC's @SaraEisen to discuss all things related to the economy.
The interview will air from 16:10 CET – stay tuned!
The purpose of Dodd-Frank was to end “too big to fail.” But it ended up creating “too small to succeed.”
The post-2008 regulatory framework entrenched the dominance of the largest banks by rewarding economies of scale and lucrative lobbying operations in Washington. What followed was a community bank bottleneck that left America’s hometowns reeling.
The time has come for a community bank comeback. That’s why @POTUS is re-empowering heartland bankers by rolling back the harmful regulations of his predecessor to drive growth and prosperity on Main Street.
Banking, bonds, currency and markets: the entire financial landscape is evolving.
Blockchain is a powerful engine that creates groundbreaking opportunities for global businesses.
Learn how we're making it happen with solutions for payments, custody, stablecoins, and more: https://t.co/DRG2XlWIkv
During the last govt shutdown, on 1st day (12/24/18) S&P -2.7% after 17.5% decline since 9/20/18 on initial China trade war/growth concerns. But S&P +10.3% over entire 35 day shutdown w/ 12/24 the low. Set-up today is very different & riskier w/ mkt near highs vs lows.
My belief is this shutdown could last even longer than in 2018 but that other factors will ultimately matter more such as 1) upcoming Q3 earnings being solid, 2) AI euphoria continuing with the Mag7 reporting solid qtrs and 3) the next Fed mtg on 10/29 where I expect the Fed to stay on its course to cut rates three times this year.
In summary, I believe that despite the potential for some near-term choppiness, the mkt will ultimately see new highs as it slowly grinds higher.