Stock Market Recovery's Momentum Might Wane, According to JPMorgan Chase; Bank of America Proposes 'Purest Investment Strategy' for Their Clients
Updated Article:
Hey there, finance enthusiasts! Today, we're diving into the latest happenings in crypto, markets, and banking. Let's start with some scorching hot takes from JPMorgan Chase and Bank of America on the US stock market recovery.
The US Stock Market Recovery: A Short-Lived Party?
JPMorgan: The US stock market is showing a bit more upside potential due to the de-escalation of President Trump's trade war, according to JPMorgan's trading team. However, the bank warns that the real impact of Trump's tariffs on the economy is yet to be felt, so the market might not have climbed out of the abyss just yet.
"This market is likely to drift higher in the absence of negative news such as tariff headlines or a spike in bond yields... But this is not an all clear for markets... We are still 1-2 months away from seeing the negative impact of the trade war on the real economy."
Bank of America: The bank's team of market strategists advises clients to "sell into rallies in US stocks and the dollar." According to them, debasement of the US dollar is the "cleanest investment theme to play."
Debasing the dollar: A depreciating dollar signals investors moving capital away from US assets, according to BofA. The bank believes the capital flight from US assets will continue unless the Federal Reserve slashes rates, Trump cuts a trade deal with China, and consumer spending remains strong. The US dollar index, which measures the strength of the USD against a basket of other major foreign currencies, is down about 8% this year.
As for the S&P 500, it has rallyied roughly 15% since its 2025 lows of 4,835 points, which it hit on April 7th. Follow us on Twitter, Facebook, and Telegram for more updates!
Other News
Alright, let's check out some other crypto industry announcements and happenings:
- ProMeeters Program: ProMeet unveiled its influencer program, aimed at boosting impact and long-term earnings for influencers.
- DogeOS Funding: DogeOS announced it has raised $6.9 million in a funding round led by Polychain Capital to launch its Dogecoin app layer.
- Casper 2.0: Casper Network launched its Casper 2.0 on the mainnet, positioning it for real-world asset era.
- MultiBank Group: The company aims to tokenize $3 billion in real estate assets with MAG, readying to launch MBG.
- Pepeto: The cryptocurrency is set to launch on an exchange following a successful presale and platform development milestones.
- BC.Game Social Mining: Phase Two of BC.Game's social mining campaign was launched, expanding the ecosystem's engagement with BC Token.
- KuCoin CEO: BC Wong spoke at TOKEN2049, highlighting a path towards a safer, smarter crypto future.
That's all for today's update! Don't forget to subscribe for email alerts, check out our platform for price action, and join us on our social media feeds if you need to be in-the-know!
- The recent surge in the S&P 500, following a drop to 4,835 points on April 7th, might not indicate a complete recovery in the US stock market, as JPMorgan's trading team suggests the true impact of Trump's tariffs is yet to be seen.
- While the US stock market is exhibiting potential for further growth, JPMorgan issues a warning against premature celebrations, stating that the market could still be grappling with the long-term effects of tariffs.
- Bank of America's market strategists advise clients to sell into rallies of US stocks and the dollar, as they foresee a continued depreciation of the US dollar due to capital flight from US assets.
- In the world of cryptocurrency, BC.Game has launched Phase Two of its social mining campaign, aiming to increase engagement with BC Token and expand its ecosystem.
- It's important to note that this article contains general information, not investment advice, and readers should do their own research before making any investment decisions, whether it's in the stock-market or cryptocurrencies like Ethereum, altcoins, or even specific projects like Casper Network or Pepeto.
