Jamie Dimon says he still sees a recession on the horizon

Jamie Dimon says he still sees a recession on the horizon


Key Points
  • JPMorgan Chase CEO Jamie Dimon said Wednesday he still believes that the odds of a “soft landing” for the economy are around 35% to 40%, making recession the most likely scenario in his mind.
  • When asked by CNBC’s Leslie Picker if he had changed his view from earlier this year that markets were too optimistic on recession risks, Dimon said the odds were “about the same” as his earlier call.
  • Dimon added he was “a little bit of a skeptic” that the Federal Reserve can bring inflation down to its 2% target because of future spending on the green economy and military.



Source

Stocks making the biggest premarket moves: CVS, Comcast, Meta, Norwegian Cruise and more
Finance

Stocks making the biggest premarket moves: CVS, Comcast, Meta, Norwegian Cruise and more

Check out the companies making the biggest moves in premarket trading: CVS Health — The stock popped 7% after the drugstore chain reported an earnings and revenue beat for its second quarter. The company also boosted its adjusted profit outlook, now expecting a range of $6.30 to $6.40 per share for fiscal 2025, up from […]

Read More
China’s July manufacturing activity contracts more than expected — declines for fourth-straight month
Finance

China’s July manufacturing activity contracts more than expected — declines for fourth-straight month

Key Points China’s official manufacturing PMI has been below the 50 mark, reflecting contraction rather than expansion, since April. The index for July was 49.3, missing expectations for 49.7 according to a Reuters poll. During a high-level Politburo meeting on Wednesday, China’s top leaders did not signal plans for substantial new stimulus. Source

Read More
Stocks making the biggest moves after hours: Microsoft, Meta, Ford Motor, eBay and more
Finance

Stocks making the biggest moves after hours: Microsoft, Meta, Ford Motor, eBay and more

Check out the companies making headlines after the bell : Qualcomm — The semiconductor company fell 5% despite posting a fiscal third-quarter beat on both the top and bottom lines. Qualcomm posted adjusted earnings of $2.77 per share on revenue of $10.37 billion. Analysts polled by LSEG had expected earnings of $2.71 per share and […]

Read More