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Sectors

Sector Update: Financial Stocks Rise Late Afternoon

Financial stocks rose in late Friday afternoon trading, with the NYSE Financial Index increasing 0.3% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.4%.The Philadelphia Housing Index advanced 0.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 0.3%.Bitcoin (BTC-USD) was falling 2.3% to $75,797, and the yield for 10-year US Treasuries declined 2.8 basis points to 4.558%.In economic news, Kevin Warsh was sworn in as chair of the US Federal Reserve in a ceremony at the White House, media outlets reported Friday. Warsh returns to the Fed after serving as a board member from 2006 to 2011, the reports said.The University of Michigan consumer sentiment index was revised down to 44.8 for May from 48.2 preliminary, compared with expectations for a no revision in a Bloomberg survey and a drop from the final 49.8 in April.The Conference Board's measure of leading indicators rose by 0.1% in April following a 0.6% decrease in March.In corporate news, JPMorgan Chase (JPM) is in discussions with investors over a deal to offload some of its risk exposure to over $4 billion in private equity-linked net asset value loans, the Financial Times reported. JPMorgan shares rose 1.1%.Brookfield (BN) is among the companies exploring a potential deal that could value fertility clinic operator Fakih IVF at about $1 billion, the Financial Times reported. Brookfield shares were fractionally higher.Citigroup (C) plans to direct a substantial portion of its wealth management hiring toward Asia, Reuters reported, citing an interview with Andy Sieg, head of the bank's global wealth business. Citi shares were fractionally lower.Mastercard (MA) is looking to minimize its losses from Banco Master's failure by asking some of Brazil's largest payment processors to help foot the bill, Bloomberg reported. Mastercard shares were slightly lower.

$BN$C$JPM$MA
Sectors

Sector Update: Financial Stocks Higher Friday Afternoon

Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index increasing 0.3% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.7%.The Philadelphia Housing Index was down 0.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.1%.Bitcoin (BTC-USD) was declining 0.9% to $76,888, and the yield for 10-year US Treasuries was down 1.4 basis points at 4.57%.In economic news, Kevin Warsh was sworn in as chair of the US Federal Reserve in a ceremony at the White House, media outlets reported Friday. Warsh returns to the Fed after serving as a board member from 2006 to 2011, the reports said.The University of Michigan consumer sentiment index was revised down to 44.8 for May from 48.2 preliminary, compared with expectations for a no revision in a Bloomberg survey and a drop from the final 49.8 in April.The Conference Board's measure of leading indicators rose by 0.1% in April following a 0.6% decrease in March.In corporate news, JPMorgan Chase (JPM) is in discussions with investors over a deal to offload some of its risk exposure to over $4 billion in private equity-linked net asset value loans, the Financial Times reported. JPMorgan shares rose 1.4%.Citigroup (C) plans to direct a substantial portion of its wealth management hiring toward Asia, Reuters reported, citing an interview with Andy Sieg, head of the bank's global wealth business. Citi shares added 0.6%.KKR-backed (KKR) space company OHB and weapons manufacturer KNDS are considering moving their planned share sales to avoid a clash with SpaceX's (SPCX) initial public offering in the US, Bloomberg reported. KKR shares were down 0.5%.

$C$JPM$KKR
Sectors

Sector Update: Financial Stocks Edge Higher Pre-Bell Friday

Financial stocks were edging higher pre-bell Friday, with the State Street Financial Select Sector SPDR ETF (XLF) advancing by 0.6%.The Direxion Daily Financial Bull 3X Shares (FAS) was up 1.7% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 1.6% lower.Futu (FUTU), UP Fintech's (TIGR) Tiger Brokers unit and Longbridge Securities face planned penalties from China's securities regulator for operating in mainland China without licenses, Bloomberg reported. Shares of Futu Holdings shares were down more than 36% and UP Fintech stock lost more than 33% premarket.Intercontinental Exchange (ICE) and OKX are planning to launch perpetual futures contracts tied to oil, Bloomberg reported, citing a statement from the companies. Intercontinental Exchange stock was 0.7% higher pre-bell.JPMorgan Chase (JPM) is in discussions with investors over a deal to offload some of its risk exposure to more than $4 billion in private equity-linked net asset value loans, the Financial Times reported, citing unnamed people familiar with the matter. Shares of JPMorgan Chase were up 0.5% premarket.

$FAS$FAZ$FUTU$ICE$JPM$TIGR$XLF
Sectors

Sector Update: Financial Stocks Higher Late Afternoon

Financial stocks were higher in late Thursday afternoon trading, with the NYSE Financial Index up 0.3% and the State Street Financial Select Sector SPDR ETF (XLF) fractionally higher.The Philadelphia Housing Index was adding 0.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was increasing 0.1%.Bitcoin (BTC-USD) was fractionally higher at $77,492, and the yield for 10-year US Treasuries rose 1.4 basis points to 4.586%.In economic news Thursday, US initial jobless claims fell to 209,000 in the week ended May 16 from an upwardly revised 212,000 in the previous week, compared with expectations for 210,000 in a Bloomberg-compiled survey.The May flash reading of manufacturing conditions from S&P Global rose to 55.3, a 48-month high, from 54.5 in April, compared with the 53.8 anticipated in a Bloomberg-compiled poll.April housing starts fell 2.8% from the previous month to a 1.465 million annual rate, compared with expectations compiled by Bloomberg for a 1.410 million rate.In corporate news, Ares Management (ARES) has raised about $850 million so far for its inaugural closed-ended real estate debt fund, with the firm targeting a total of $1.5 billion for Ares Real Estate Debt Strategies, Bloomberg reported. Ares shares rose 1.1%.KKR (KKR) signed a definitive deal to sell its Circor Aerospace division to Parker-Hannifin (PH) for $2.55 billion, according to a Thursday statement. Funds managed by KKR will continue to own Circor's naval and industrial businesses after the deal. KKR shares were down 0.2%.JPMorgan Chase (JPM) Chief Executive Jamie Dimon said the investment bank will likely hire more AI specialists and fewer bankers, Bloomberg reported, citing an interview. JPMorgan Chase shares were up 0.3%.Chubb (CB) said Thursday its board has authorized a new $7.5 billion share buyback program, starting July 1 with no expiration date. The company also said its quarterly cash dividend was increased to $1.02 per share from $0.97, payable on July 2 to shareholders of record as of June 12. Its shares added 0.5%.

$ARES$CB$JPM$KKR
Sectors

Sector Update: Financial Stocks Mixed Thursday Afternoon

Financial stocks were mixed in Thursday afternoon trading, with the NYSE Financial Index fractionally lower and the State Street Financial Select Sector SPDR ETF (XLF) up 0.2%.The Philadelphia Housing Index was down 0.1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 0.2%.Bitcoin (BTC-USD) was rising 0.6% to $77,915, and the yield for 10-year US Treasuries was steady around 4.572%.In economic news Thursday, US initial jobless claims fell to 209,000 in the week ended May 16 from an upwardly revised 212,000 in the previous week, compared with expectations for 210,000 in a Bloomberg-compiled survey.The May flash reading of manufacturing conditions from S&P Global rose to 55.3, a 48-month high, from 54.5 in April, compared with the 53.8 anticipated in a Bloomberg-compiled poll.April housing starts fell 2.8% from the previous month to a 1.465 million annual rate, compared with expectations compiled by Bloomberg for a 1.410 million rate.In corporate news, KKR (KKR) signed a definitive deal to sell its Circor Aerospace division to Parker-Hannifin (PH) for $2.55 billion, according to a Thursday statement. Funds managed by KKR will continue to own Circor's naval and industrial businesses after the deal. KKR shares were up 0.3%.JPMorgan Chase (JPM) Chief Executive Jamie Dimon said the investment bank will likely hire more AI specialists and fewer bankers, Bloomberg reported, citing an interview. JPMorgan Chase shares were up 0.5%.Chubb (CB) said Thursday its board has authorized a new $7.5 billion share buyback program, starting July 1 with no expiration date. The company also said its quarterly cash dividend was increased to $1.02 per share from $0.97, payable on July 2 to shareholders of record as of June 12. Its shares added 0.6%.

$CB$JPM$KKR
Sectors

Sector Update: Financial Stocks Fall Premarket Thursday

Financial stocks were falling premarket Thursday, with the State Street Financial Select Sector SPDR ETF (XLF) declining by 0.4%.The Direxion Daily Financial Bull 3X Shares (FAS) was down 1.1% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.9% higher.S&P Global (SPGI) shares were down more than 1% after the company said its board of directors has approved the planned spinoff of its mobility division.JPMorgan Chase (JPM) Chief Executive Jamie Dimon said the investment bank will likely hire more artificial intelligence specialists and fewer bankers, Bloomberg reported, citing an interview. JPMorgan Chase stock was 0.4% lower pre-bell.KKR (KKR) has made an $80 million primary growth investment in Fresha in a transaction valuing the AI-powered beauty and wellness platform at over $1 billion, Fresha said. KKR shares were down 2.3% premarket.

$FAS$FAZ$JPM$KKR$SPGI$XLF
Sectors

Sector Update: Financial Stocks Advance Premarket Wednesday

Financial stocks were advancing premarket Wednesday, with the State Street Financial Select Sector SPDR ETF (XLF) 0.2% higher.The Direxion Daily Financial Bull 3X Shares (FAS) was up 0.5% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.7% lower.Oversea-Chinese Banking handily outbid rivals in a recent deal to acquire the retail and wealth assets of HSBC (HSBC) in Indonesia, Bloomberg News reported, citing people familiar with the matter. Shares of HSBC were up more than 1% pre-bell.Visa (V) has launched its agentic-ready program in Central Europe, Middle East, and Africa to support its payment system, the company said. Visa shares were 0.3% higher premarket.JPMorgan Chase (JPM) has launched its digital savings bank, Chase, in Germany, the company said. JPMorgan Chase stock was up 0.3% pre-bell.

$FAS$FAZ$HSBC$JPM$V$XLF
Wire

Update: Nourish Raises $100 Million to Help Patients Maintain GLP-1 Weight-Loss Results

(Updates with additional information throughout from Nourish's press release and removes Market Chatter tag.)Nourish, a nutrition counseling startup focused on supporting patients using GLP-1 weight-loss drugs, raised $100 million in a Series C funding round led by Menlo Ventures, the company said Tuesday.The round included participation from Thrive Capital, Index Ventures, JPMorgan Chase's (JPM) growth equity arm, Maverick Ventures, Y Combinator and others, the company said.Nourish said the financing increased its total funding to $215 million and will support expansion of its clinical network, artificial intelligence tools for patients and providers, and metabolic clinic model.JPMorgan Chase did not immediately respond to' request for comment.Price: $299.33, Change: $-1.43, Percent Change: -0.48%

$JPM
Sectors

Sector Update: Healthcare Stocks Decline Pre-Bell Monday

Healthcare stocks were declining pre-bell Monday, with the State Street Health Care Select Sector SPDR ETF (XLV) down 0.5% and the iShares Biotechnology ETF (IBB) 0.6% lower.Regeneron Pharmaceuticals (REGN) stock was down more than 11% after the company said two dose levels of fianlimab in combination with cemiplimab, evaluated as a first-line treatment in unresectable locally advanced or metastatic melanoma, failed to meet a primary endpoint in its phase 3 trial.Bio-Rad Laboratories (BIO) has attracted a sizable investment from Elliott Investment Management, which plans to push the life-science tools supplier to improve its lagging stock performance, The Wall Street Journal reported, citing people familiar with the matter. Bio-Rad Laboratories shares were up more than 7% premarket.Boston Scientific (BSX) entered into a $2 billion accelerated share repurchase agreement with JPMorgan Chase (JPM) as part of its previously announced $5 billion share buyback authorization, the company said. Boston Scientific also said it invested $1.5 billion for an approximately 34% stake in privately held MiRus. Shares of Boston Scientific were up about 2% pre-bell.

$BIO$BSX$IBB$JPM$REGN$XLV
Sectors

Sector Update: Financial Stocks Fall Wednesday

Financial stocks fell Wednesday with the NYSE Financial Index dropping 0.8% and the State Street Financial Select Sector SPDR ETF (XLF) shedding 1.1%.The Philadelphia Housing Index declined 1.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) lost 0.8%.Bitcoin (BTC-USD) fell 1.2% to $79,517, and the yield for 10-year US Treasuries rose 1.8 basis points to 4.48%.In economic news, the US producer price index for April rose 1.4%, the fastest pace in four years, after a 0.7% gain in March, according to the Bureau of Labor Statistics. The increase topped the 0.5% gain expected in a Bloomberg poll.In corporate news, Two Harbors Investment (TWO) said its board rejected a revised unsolicited takeover proposal from UWM (UWMC), saying the bid was inferior to its existing merger agreement with CrossCountry Mortgage. Two Harbors shares fell 1.1%, and UWM dropped 4.3%.Wells Fargo (WFC) shares fell 2.2%. The company is marketing investment-grade bonds in as many as three parts, with maturities between three and six years, Bloomberg reported.Blackstone (BX) has withdrawn from talks for a proposed $4 billion deal involving New World Development after negotiations broke down over control of the company, Bloomberg reported. Blackstone shares fell 2.3%.JPMorgan Chase (JPM) reshuffled leadership in its investment-banking unit amid a rebound in global dealmaking activity, according to media reports. JPMorgan shares fell 1.5%.

$BX$JPM$TWO$UWMC$WFC
Sectors

Sector Update: Financial Stocks Decline Wednesday Afternoon

Financial stocks were lower in Wednesday afternoon trading, with the NYSE Financial Index decreasing 0.7% and the State Street Financial Select Sector SPDR ETF (XLF) shedding 1%.The Philadelphia Housing Index was falling 1.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was down 0.7%.Bitcoin (BTC-USD) was declining 1.4% to $79,278, and the yield for 10-year US Treasuries was rising 2 basis points to 4.48%.In economic news, the US Producer Price Index rose 1.4% in April from a 0.7% gain in March, according to the Bureau of Labor Statistics, beating the 0.5% increase expected in a Bloomberg poll. After excluding food and energy prices, core PPI surged 1.0% from 0.2%, above the 0.3% advance anticipated.In corporate news, Wells Fargo (WFC) shares were down 1.7%. The company is marketing investment-grade bonds in as many as three parts, with maturities between three and six years, Bloomberg reported.Blackstone (BX) has withdrawn from talks for a proposed $4 billion deal involving New World Development after negotiations broke down over control of the company, Bloomberg reported. Blackstone shares fell 2.4%.JPMorgan Chase (JPM) has appointed global head of investment banking coverage Dorothee Blessing, global head of capital markets Kevin Foley and financial institutions group co-head Jared Kaye as co-heads of global investment banking, according to media reports. JPMorgan shares were down 1.1%.

$BX$JPM$WFC
Wire

Top Midday Stories: Overall, Core PPI in April Hit Highest Levels Since December 2022; Alibaba Misses Fiscal Q4 Earnings, Revenue Estimates

The Dow Jones Industrial Average was down, while the Nasdaq Composite and the S&P 500 Index were up in late-morning trading Wednesday after another hotter-than-expected inflation report and as President Donald Trump prepares for his summit with Chinese President Xi Jinping.The US Producer Price Index rose by 1.4% in April, well above the 0.5% gain expected in a survey compiled by Bloomberg as of 7:35 a.m. ET and up from a 0.7% gain in March. Excluding food and energy prices, core PPI rose by 1.0%, well above the 0.3% gain expected and up from the 0.2% gain in March. Year over year, the PPI rose 6.0% in April, while core PPI rose by 5.2%, both well above their respective March rates and the strongest readings since December 2022.Alibaba Group (BABA) reported fiscal Q4 adjusted earnings Wednesday of 0.62 Chinese renminbi ($0.09) per diluted American depositary share, down from 12.52 renminbi a year earlier and below the FactSet consensus estimate of 6.14 renminbi. Fiscal Q4 revenue was 243.38 billion renminbi, up from 236.45 billion renminbi a year earlier but below the FactSet consensus of 246.97 billion renminbi. Alibaba shares were up 7.9% around midday.Nvidia (NVDA) Chief Executive Jensen Huang joined President Trump on his visit to Beijing, a last-minute addition that has raised expectations of progress in stalled talks over Nvidia's H200 AI chip sales to China, Reuters reported Wednesday. Nvidia shares were up 2.5%.Nebius Group (NBIS) reported Q1 earnings Wednesday of $2.11 per diluted share, swinging from a loss of $0.48 a year earlier and above the FactSet consensus for a loss of $0.83. First-quarter revenue was $399 million, up from $50.9 million a year ago and above the FactSet consensus of $375.1 million. Nebius shares were up more than 15%.Wix.com (WIX) reported Q1 adjusted earnings Wednesday of $0.68 per diluted share, down from $1.55 a year earlier and below the FactSet consensus of $1.24. First-quarter revenue was $541.2 million, up from $473.7 million a year ago but below the FactSet consensus of $544 million. For Q2 and full-year 2026, the company said it expects revenue to grow at a mid-teen percentage. Wix shares were down 30.2%.JPMorgan Chase (JPM) has appointed global head of investment banking coverage Dorothee Blessing, global head of capital markets Kevin Foley and financial institutions group co-head Jared Kaye as co-heads of global investment banking, according to media reports. JPMorgan shares were down 1.2%.Walmart (WMT) will fire or relocate about 1,000 corporate workers, The Wall street Journal reported late Tuesday, citing people familiar with the matter and a memo sent to staff it viewed. Walmart shares were flat.Price: $145.45, Change: $+10.67, Percent Change: +7.92%

$BABA$JPM$NBIS$NVDA$WIX$WMT
Sectors

Sector Update: Financial Stocks Higher Late Afternoon

Financial stocks advanced in late Tuesday afternoon trading, with the NYSE Financial Index rising 0.4% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.9%.The Philadelphia Housing Index was down 1.1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.2%.Bitcoin (BTC-USD) was falling 1.2% to $80,732, and the yield for 10-year US Treasuries climbed 5.3 basis points to 4.46%.In economic news, the US seasonally adjusted consumer price index jumped by 3.8% in April from 3.3% in the prior month, according to data released Tuesday by the Bureau of Labor Statistics, compared with the 3.7% consensus. Core CPI, which excludes food and energy prices, climbed by 2.8% from 2.6%, versus expectations for 2.7%.The CPI increased 0.6% in April, as expected, following a 0.9% increase in the previous month. Core CPI gained 0.4%, higher than the consensus estimate for a 0.3% increase. Core CPI rose by 0.2% in March.In corporate news, the Department of Justice said Tuesday it secured a settlement with PayPal (PYPL) under which the company must launch a new Small Business Initiative that excludes criteria based on national origin, race or other protected characteristics. PayPal shares rose 0.9%.S&P Global (SPGI) shares added 0.7% after its Energy division said Tuesday it has launched the HorizonsAgents suite of AI-backed tools to turn energy and sustainability data into insights for financial institutions and other clients.JPMorgan Chase (JPM) Chief Executive Jamie Dimon said Tuesday on Bloomberg TV that financial markets may be showing "a little bit too much exuberance" given current inflation risks and geopolitical tensions. JPMorgan shares were up 1.7%.Carlyle (CG) and Yum China (YUMC) are among the companies seeking to acquire Jardine Matheson restaurant unit, which runs KFC and Pizza Hut chains in Hong Kong, Taiwan, and other Asian locations, in a deal worth around $400 million, Reuters reported. Carlyle shares rose 1.1%.

$CG$JPM$PYPL$SPGI
Sectors

Sector Update: Financial Stocks Advance Tuesday Afternoon

Financial stocks were higher in Tuesday afternoon trading, with the NYSE Financial Index rising 0.4% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.9%.The Philadelphia Housing Index was down 0.9%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.1%.Bitcoin (BTC-USD) was falling 1.8% to $80,257, and the yield for 10-year US Treasuries climbed 4.5 basis points to 4.455%.In economic news, the US seasonally adjusted consumer price index jumped by 3.8% in April from 3.3% in the prior month, according to data released Tuesday by the Bureau of Labor Statistics, compared with the 3.7% consensus. Core CPI, which excludes food and energy prices, climbed by 2.8% from 2.6%, versus expectations for 2.7%.The CPI increased 0.6% in April, as expected, following a 0.9% increase in the previous month. Core CPI gained 0.4%, higher than the consensus estimate for a 0.3% increase. Core CPI rose by 0.2% in March.In corporate news, the Department of Justice said Tuesday it secured a settlement with PayPal (PYPL) under which the company must launch a new Small Business Initiative that excludes criteria based on national origin, race or other protected characteristics. PayPal shares rose 1.2%.JPMorgan Chase (JPM) Chief Executive Jamie Dimon said Tuesday on Bloomberg TV that financial markets may be showing "a little bit too much exuberance" given current inflation risks and geopolitical tensions. JPMorgan shares were up 1.6%.Carlyle (CG) and Yum China (YUMC) are among the companies seeking to acquire Jardine Matheson restaurant unit, which runs KFC and Pizza Hut chains in Hong Kong, Taiwan, and other Asian locations, in a deal worth around $400 million, Reuters reported. Carlyle shares added 0.8%.

$CG$JPM$PYPL
Wire

Top Midday Stories: April CPI Rises 3.8% YoY, Highest Level Since May 2023; EBay Board Rejects GameStop's Acquisition Proposal

All three major US stock indexes were down in late-morning trading after April inflation data came in hotter than expected.The US seasonally adjusted consumer price index rose by 0.6% in April, as expected and following a 0.9% increase in March, the Bureau of Labor Statistics said Tuesday. Core CPI, which excludes food and energy prices, rose by 0.4%, higher than the consensus estimate of a 0.3% increase. Core CPI rose by 0.2% in March. Year over year rates for overall and core CPI rose to 3.8% and 2.8%, respectively from 3.3% and 2.6% in March. The overall year-over-year figure was the highest recorded since May 2023.In company news, eBay (EBAY) said Tuesday its board rejected GameStop's (GME) unsolicited, non-binding $55.5 billion buyout offer. The board concluded the company is better positioned to generate growth and shareholder value as a standalone business under its existing management, eBay said. Shares of eBay were up 0.2%, while GameStop shares were down 1.9% around midday.On Holding (ONON) reported Q1 adjusted earnings Tuesday of 0.37 Swiss francs ($0.47) per diluted share, up from 0.21 francs a year earlier and above the FactSet consensus analyst estimate of 0.27 francs. Net sales were 831.9 million francs, up from 726.6 million francs a year ago and above the FactSet consensus of 818.5 million francs. For full-year 2026, the company said it expects net sales to grow by at least 23% year over year on a constant-currency basis, implying reported sales of at least 3.51 billion francs at current spot rates, it said. On Holding shares were down 4.6%.Under Armour (UAA) reported a fiscal Q4 adjusted loss Tuesday of $0.03 per diluted share, narrowing from a loss of $0.08 a year earlier but below the FactSet consensus of a loss of $0.02. Fiscal Q4 net revenue was $1.17 billion, down from $1.18 billion a year ago but matching the FactSet consensus. For fiscal 2027, the company said it expects adjusted EPS of $0.08 to $0.12 on a slight decline in revenue. Analysts polled by FactSet expect adjusted EPS of $0.23 on revenue of $5.05 billion. Under Armour shares were down 17%.Wendy's (WEN) faces a potential take-private bid from Trian Fund Management, which is seeking investor backing for a takeover, the Financial Times reported Tuesday, citing people familiar with the matter. Wendy's shares were up 15%.Alphabet's (GOOG, GOOGL) Waymo is recalling 3,791 robotaxis in the US due to a software issue that could likely cause the vehicles to drive onto flooded roads, Reuters reported Tuesday, citing the National Highway Traffic Safety Administration. The recall pertains to certain fifth- and sixth-generation automated driving systems in the robotaxis, the report said. Alphabet's Class C and Class A shares were down 0.5% and 0.4%, respectively.JPMorgan Chase (JPM) Chief Executive Jamie Dimon said Tuesday on Bloomberg TV that financial markets may be showing "a little bit too much exuberance" given current inflation risks and geopolitical tensions. JPMorgan shares were up 0.5%.Price: $108.27, Change: $+0.14, Percent Change: +0.13%

$EBAY$GME$GOOG$GOOGL$JPM$ONON$UAA$WEN
Wire

Update: JPMorgan Chase CEO Jamie Dimon Warns of 'Too Much Exuberance' in Markets

(Updates with Jamie Dimon's take on UK taxes for banks in the sixth and seventh paragraphs.)JPMorgan Chase (JPM) Chief Executive Jamie Dimon said Tuesday financial markets may be showing "a little bit too much exuberance," warning that investors could be underestimating inflation risks and broader geopolitical tensions.In an interview with Bloomberg TV, Dimon said investor optimism appears tied partly to hopes for some resolution in the Middle East, though he noted ongoing risks involving Ukraine, Russia and US-China relations.Dimon said inflation remains a concern following weaker-than-expected economic data, adding that increased government spending and stimulus measures have helped support corporate profits and market performance but could also add to inflationary pressures.He said deregulation, low credit spreads and strong corporate earnings have contributed to favorable market conditions, though he expressed skepticism over whether current optimism is fully justified.Dimon added that deficit spending has been driving "corporate earnings" and capital expenditures, but said it remains unclear whether higher investment spending will improve productivity before fueling inflation further.The CEO also cautioned the UK that any decision to increase taxes on banks if Keir Starmer is replaced as prime minister would result in JPMorgan Chase scrapping plans to invest billions in a new London headquarters in Canary Wharf."We didn't damage the UK in any way, we paid probably $10 billion in extra taxes by now. I don't think that's right or fair. If that happens too much we will reconsider," Dimon told the media outlet at the bank's annual Global Markets conference.Price: $301.55, Change: $+1.55, Percent Change: +0.52%

$JPM
Wire

JPMorgan Chase CEO Jamie Dimon Warns of 'Too Much Exuberance' in Markets

JPMorgan Chase (JPM) Chief Executive Jamie Dimon said Tuesday financial markets may be showing "a little bit too much exuberance," warning that investors could be underestimating inflation risks and broader geopolitical tensions.In an interview with Bloomberg TV, Dimon said investor optimism appears tied partly to hopes for some resolution in the Middle East, though he noted ongoing risks involving Ukraine, Russia and US-China relations.Dimon said inflation remains a concern following weaker-than-expected economic data, adding that increased government spending and stimulus measures have helped support corporate profits and market performance but could also add to inflationary pressures.He said deregulation, low credit spreads and strong corporate earnings have contributed to favorable market conditions, though he expressed skepticism over whether current optimism is fully justified.Dimon added that deficit spending has been driving "corporate earnings" and capital expenditures, but said it remains unclear whether higher investment spending will improve productivity before fueling inflation further.Price: $298.34, Change: $-1.66, Percent Change: -0.55%

$JPM
Sectors

Sector Update: Financial Stocks Fall Late Afternoon

Financial stocks fell in late Thursday afternoon trading with the NYSE Financial Index down 0.7% and the State Street Financial Select Sector SPDR ETF (XLF) shedding 0.6%.The Philadelphia Housing Index dropped 1.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) declined 0.7%.Bitcoin (BTC-USD) fell 1.8% to $79,934, and the yield for 10-year US Treasuries rose 3.6 basis points to 4.39%.In economic news, employers in the US announced 83,387 job cuts in April, up from 60,620 in March, Challenger, Gray & Christmas said Thursday.US consumer credit use jumped by $24.8 billion in March, compared with a $13.5 billion increase expected in a survey compiled by Bloomberg and following an $8.9 billion increase in the previous month.In corporate news, KKR (KKR) shares decreased 0.8% after Argus lowered the company's price target to $115 from $120.Blackstone (BX) and I Squared are considering making a bid for Stroeer that may value the German media group at 2.5 billion euros ($2.94 billion), Bloomberg reported. Blackstone shares were down 2%.Citigroup (C) Chief Executive Jane Fraser said Thursday at the bank's Investor Day that Citi expects its return on tangible common equity to hit a range of 11% to 13% in 2027 and 2028, up from 10% to 11% currently, before rising further to 14% to 15% from 2029 to 2031, according to a slide deck the company published. Citi shares rose 1.8%.JPMorgan Chase (JPM) and Citigroup were sued by China's HY Energy over alleged failure of funds transfer, Bloomberg reported. JPMorgan shares fell 2.6%.

$BX$C$JPM$KKR
Sectors

Sector Update: Financial Stocks Fall Thursday Afternoon

Financial stocks fell in Thursday afternoon trading with the NYSE Financial Index down 0.8% and the State Street Financial Select Sector SPDR ETF (XLF) shedding around 0.7%.The Philadelphia Housing Index dropped 1.5%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) declined 1%.Bitcoin (BTC-USD) fell 2% to $79,831, and the yield for 10-year US Treasuries rose 2.2 basis points to 4.378%.In economic news, employers in the US announced 83,387 job cuts in April, up from 60,620 in March, Challenger, Gray & Christmas said Thursday.In corporate news, Blackstone (BX) and I Squared are considering making a bid for Stroeer that may value the German media group at 2.5 billion euros ($2.94 billion), Bloomberg reported. Blackstone shares were down 2%.Citigroup (C) Chief Executive Jane Fraser said Thursday at the bank's Investor Day that Citi expects its return on tangible common equity to hit a range of 11% to 13% in 2027 and 2028, up from 10% to 11% currently, before rising further to 14% to 15% from 2029 to 2031, according to a slide deck the company published. Citi shares rose 1.5%.JPMorgan Chase (JPM) and Citigroup (C) were sued by China's HY Energy over alleged failure of funds transfer, Bloomberg reported. JPMorgan shares fell 2.3%.

$BX$C$JPM
Sectors

Sector Update: Financial

Financial stocks fell in Thursday afternoon trading with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF (XLF) each shedding 0.5%.The Philadelphia Housing Index dropped 1.1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) declined 0.5%.Bitcoin (BTC-USD) fell 2% to $79,831, and the yield for 10-year US Treasuries rose 2.2 basis points to 4.378%.In corporate news, JPMorgan Chase (JPM) and Citigroup (C) were sued by China's HY Energy over alleged failure of funds transfer, Bloomberg reported. JPMorgan shares fell 2%, and Citi rose 1.8%.

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