Tag Archives: JPMorgan Chase

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S&P 500 Advances Most This Year on Retail Sales

The Standard & Poor 500 Index has recorded its biggest gain of the year on rising U.S. stocks amidst better-than-expected retail sales and a corporate merger that boosted confidence in U.S. economy.

Technology companies were lead in gains by Inter Corp. and Jabil Circuit Inc. with rises of at lease 4 percent as analysts posted upgrades. Google (GOOG) Inc. advanced 2.4 percent following its purchase agreement for thermostat maker Nest Labs Inc. for $3.2 billion in cash. Time Warner Inc. refused an acquisition offer from Charter Communications Inc. and added 2.7 percent. JPMorgan Chase & Co. and Wells Fargo remained at their previous levels following fourth-quarter reports.

The S&P 500 (SPX) climbed 1.1 percent, its biggest increase since 18th December and one that erased nearly all of yesterday’s loss. The Dow Jones Industrial Average advanced 115.92 points, or 0.7 percent. In terms of share numbers, about 6.5 billion of them were bought and sold on U.S. market yesterday, moving at 7.7 percent above the 30-day average.

Yesterday, the S&P lost 1.3 percent, the greatest amount since November, as investors reconsidered their valuations following the record levels the index reached last year on a 30 percent valuation. The benchmark index lost 1.6 percent from the start of the year through yesterday, making this its worst beginning to a year since 2009.

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The Bullish Retailers

Advancing Market Slump to Be Decade-Long According to Wall Street Banks

Advancing markets are not likely to recover quickly from the asset slump of last year that has left behind advanced-nation shares by the most since 1998, according to the biggest banks of Wall Street.

Goldman Sachs Group Inc. has been advising cuts as high as a third in developing nations investments, predicting “significant underperformance” for stocks, bonds, and currencies for the next decade. JPMorgan Chase & Co anticipates that local-currency bonds will post 10 percent of their average returns over a 10-year period, while Morgan Stanley expects the Brazilian real, Turkish lira, and Russian ruble will continue their decline after falling as much as 17 percent last year.

During the worst periods of the latest global financial crisis, the developing economies of Brazil, Russia, India, and China indicated their increasing power by delivering outsized returns, but as the U.S. Federal Reserve reduces its stimulus and allows interest rates to rise, Morgan Stanley expects some of the same developing nations to now prove laaggard. The MSCI Emerging Markets Index has dropped 3.2 percent this year, compared to the 1.3 percent decline of the developed-market index, and reached a four-month low yesterday as Chinese data indicated a weakness in manufacturing and services.

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