3.8 • 1.6K Ratings
🗓️ 25 May 2024
⏱️ 5 minutes
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0:00.0 | OCI is the single platform for your infrastructure, database, application development, and AI needs. |
0:07.0 | Do more and spend less like Uber 8 by 8 and DataBrix Mosaic. |
0:12.0 | Take a free test drive of OCI at Oracle.com |
0:15.5 | slash Wall Street. |
0:17.0 | Hey listeners, it's Saturday, May 25th. I'm Francesca Fontana for the |
0:25.9 | Wall Street Journal and this is what's news and markets. Our look at the biggest |
0:29.7 | stock moves of the week and the news that drove them. Let's get to it. The stock market lost |
0:35.2 | some enthusiasm this week testing whether invidious blockbuster earnings could offset |
0:40.4 | investors inflation blues. |
0:42.9 | Thursday was the day when those worries about inflation and interest rates were |
0:46.4 | kicked up by a business report showing more economic activity in May. |
0:50.7 | And as we've been seeing this year, anything that can affect the chances of the Fed cutting rates is going to weigh on investor sentiment. |
0:57.0 | And that it did. |
0:59.0 | That same day, NVIDIA shares jumped 9% higher after the chipmaker posted record quarterly revenue and profit, |
1:05.9 | but alas, it wasn't enough to push the major index is higher on Thursday. |
1:10.6 | But it seemed like the market felt better on Friday going into the long weekend and all in all the indexes ended the week mixed. |
1:17.0 | Some comments from J.P. Morgan CEO Jamie Diamond didn't get a warm welcome on the |
1:26.8 | Bank's investor day, but they did grab some attention. On Monday, Diamond told |
1:31.4 | analysts that he would likely leave the top spot within five years, |
1:34.6 | breaking away from his usual boilerplate response to questions about his tenure. |
1:38.8 | For context, Diamond is 68 years old, so this is something that is certainly on shareholders' minds. |
1:45.0 | Separately, Diamond also seemed to imply that J.P. Morgan's share price had gotten so high |
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