Wall Street Today | JPMorgan Strategists See Last Big Fed Rate Hike in September
MACRO
JPMorgan Strategists See Last Big Fed Rate Hike in September
The Federal Reserve is likely to deliver the last of its big rate hikes in September, setting up stocks to continue rallying in the second half, according to $JPMorgan (JPM.US)$strategists. They expect the trade-off between growth and monetary policy to improve from here on, and help the overall market to keep recovering.
Hedge Funds Pile Into a Record Hawkish Rate Bet Pre-Jackson Hole
Hedge funds are unleashing record bets that the Federal Reserve will stick to its hawkish script as they rapidly position for higher interest rates in a key corner of the derivatives market. The group has collectively placed a big short across futures. This wager stands to benefit should Fed Chair Jerome Powell effectively rule out a dovish pivot at this week's annual symposium in Jackson Hole.
SECTORS
Diesel Profit Margins Soar to 30-Year Seasonal High as Supply Worries Grip the US
The diesel crack spread, which represents the profit generated by turning a barrel of crude into diesel, approached $70 a barrel on Monday for the first time since June to stand at the highest for this time of year in records going back to 1986. The so-called crack spread was below $20 a barrel the same time last year.
Saudi Prince Says Oil's Disconnect May Force OPEC+ Action
Saudi Arabian Energy Minister Prince Abdulaziz bin Salman said "extreme" volatility and lack of liquidity mean the futures market is increasingly disconnected from fundamentals and OPEC+ may be forced to cut production.
COMPANY
Zoom Pares Back Annual Forecast As Revenue Growth Slows to Single Digits
$Zoom Video Communications (ZM.US)$ shares fell more than 8% in extended trading on Monday after the video-calling software maker pared back its full-year forecast for earnings and revenue. Zoom's revenue growth slowed to 8% from 12% in the year-ago quarter, a lesser result than analysts had predicted.
>> Read more
>> Read more
Ford Confirms Layoffs, Says It Is Cutting About 3,000 Jobs
$Ford Motor (F.US)$ confirmed Monday it is laying off roughly 3,000 white-collar and contract employees, marking the latest in its efforts to slash costs as it makes a longer-range transition to electric vehicles.
>> Read more
>> Read more
Elon Musk's Lawyers Seek Documents From Former Twitter Chief Jack Dorsey
Elon Musk's lawyers have sent a subpoena to Jack Dorsey, the first indication that $Twitter (Delisted) (TWTR.US)$'s co-founder and former chief executive will be officially involved in the legal fight over Mr. Musk's stalled $44 billion deal.
>> Read more
>> Read more
A Group of Apple Employees Protests Company's Three-Day-a-Week Office Policy
A group of $Apple (AAPL.US)$ staffers is petitioning for a more flexible working environment after the tech giant recently told employees they will need to be in the office at least three days a week.
Source: Bloomberg, Dow Jones, CNBC
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
Read more
Comment
Sign in to post a comment
Moomoo News Official Account
In 10 minutes it’s history. At four I’m a dinosaur!
38KFollowers
26Following
43KVisitors
Follow
102577383 : Bearish?
Sharifmatar : Bullish?
Sharifmatar 102577383 : $Apple (AAPL.US)$
Acewave : If Feb announce the 0.75% rate hike for the last time in coming Sep… that will send the stock ramp… so do the dollar… but I wonder the oil/energy price.. how it will go..
meruson : I don't know what to do.
Siausin : A tale of two Morgan’s. JP Morgan super bullish on US stocks and Morgan Stanley super bearish