Wall Street Today | Morgan Stanley Sees Near-Term US Stock Market Rally
MACRO
Libor Cracks 5% for First Time Since '07, Spurred by Fed Outlook
The three-month London interbank offered rate for dollars, a major global lending benchmark, surpassed 5% for the first time in more than 15 years on Monday. Much of the recent surge in Libor, which is set to be phased out on June 30, has been driven by expectations for Fed policy tightening.
Global Supply Chains Back to Normal After Rocky Three Years, NY Fed Says
Supply pressures around the world fell below normal. The February reading in the NY Fed's Global Supply Chain Pressure Index was -0.26, reaching negative territory for the first time since August 2019. Zero marks the historical average. Maximum disruptions pushed the gauge to a peak of 4.31 in December 2021.
Morgan Stanley Sees Near-Term US Stock Market Rally
Wilson pointed to the S&P 500's resilience at the 200-day moving average last week, a widely-monitored technical indicator of an index's momentum against its current price. The bounce off the line suggests it may now act as a support for the benchmark. Wilson said the index is likely to move higher if Treasury yields and the dollar continue to decline.
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SECTORS
JPMorgan Spells Out 'Volmageddon' Risk on Zero-Day Option Craze
JPMorgan strategists are throwing fresh light on their contentious warning that the craze for zero-day options raises the risk of a market-wide "Volmageddon 2.0."
In a new study, a 5% drop in the S&P 500 is seen snowballing another 20% in the worst-case scenario of thin trading, in the extreme event all traders offload their holdings of zero-day-to-expiration options, known as 0DTE.
COMPANY
Goldman Says Buy Apple After Years on Sidelines of 300% Advance
$Goldman Sachs (GS.US)$ is recommending buying $Apple (AAPL.US)$ shares for the first time in nearly six years, after being mostly on the sidelines as the iPhone maker's stock more than quadrupled in value. Goldman's new price target of $199 implies 32% upside from the stock's last close.
Microsoft Integrates AI Behind ChatGPT to More Developer Tools
$Microsoft (MSFT.US)$ on Monday bundled the technology behind ChatGPT with its Power Platform that allows users to develop applications with little or no coding, the latest integration of artificial intelligence into its products.
Meta Will Keep Releasing AI Tools Despite Leak Claims
$Meta Platforms (META.US)$ on Monday said it will continue to release its artificial intelligence tools to approved researchers despite claims on online message boards that its latest large language model had leaked to unauthorized users.
Google Tells Employees That Fewer of Them Will Get Promotions to Senior Roles
$Alphabet-A (GOOGL.US)$ is warning employees that fewer of them will receive promotions to more senior levels this year than in the past.
Source: Bloomberg, Dow Jones, CNBC
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Giovanni Ayala :
Mcsnacks H Tupack : The LIBOR that will be eliminated in June in order for the IMF(World Bank) to then gain more power over the markets. Sounds like it can't miss.
Mcsnacks H Tupack : The Independent Evaluation Group evaluates the work of the World Bank Group to find what works, what doesn't, and why. IEG evaluations provide an objective assessment of World Bank Group results, and identify lessons learned from experience. Through independent evaluation, IEG is helping the World Bank Group achieve its twin goals of eradicating extreme poverty and boosting shared prosperity.
Is it just me or is it strange that the independent evaluation group is located in Washington DC at a place called Foggy bottom?