Author: Press Room

American Express Company (NYSE: AXP) ended 4.0% up on Friday after a Morgan Stanley analyst said it was a top pick in financial services. American Express stock should be worth $188 Betsy Graseck agreed that the multinational is not seeing its revenue grow as strongly as it did just after the pandemic. Still, she’s convinced that the slowdown won’t be as bad as feared. The analyst dubs now a suitable time to build a position in American Express stock since it’s trading at a deep discount. Amex hasn’t traded this cheaply on P/E since 2019, with a 12x P/E pricing…

Inspired by how the little guy challenged Wall St in the GameStop short squeeze, Wall Street Memes (WSM) is one of the newest meme tokens, currently on presale.The bull run for the GME and AMC stock price in 2021 inspired several new crypto projects and a whole internet meme subculture. Crypto has its own version of meme stocks – meme coins – with traders always hunting the next Dogecoin to explode when noticed by Elon Musk, the next Shiba Inu, or most recently the next Pepe to outperform the entire market by tens of thousands of percent.Does $WSM have what…

© Reuters. FILE PHOTO: U.S. dollar banknotes are seen in this illustration taken March 10, 2023. REUTERS/Dado Ruvic/Illustration/File Photo By Naomi Rovnick and Libby George LONDON (Reuters) – Rivalry with China, fallout from Russia’s war in Ukraine and wrangling once again in Washington over the U.S. debt ceiling have put the dollar’s status as the world’s dominant currency under fresh scrutiny. Russia’s sanctions-imposed exile from global financial systems last year also fuelled speculation that non-U.S. allies would diversify away from dollars. Below are some arguments why de-dollarisation will happen – or possibly why it won’t. SLIPPING RESERVE STATUS The dollar…

Rep. Dusty Johnson, R-S.D., said Sunday that a debt ceiling agreement is “going to pass,” and that only a small portion of the “most colorful conservatives” in Congress oppose it.Johnson, chair of the Republican Main Street Caucus and a lead negotiator on the debt ceiling, dismissed criticisms from Freedom Caucus members who claim the reported agreement Saturday reached with the White House is a loss for the GOP. The deal, he said, is “fantastic,” and will be passed with a strong majority.”When we say conservatives are against it, I want to make it clear, I don’t know a single one…

Newer models of jet engines for narrowbody planes have “had more challenges than planned and are short of customer expectations,” but it’s too early to tell if these issues will affect the market share for two major engine manufacturers, according to analysts at Bernstein. They said the Leading Edge Aviation Propulsion (LEAP) engine made by CFM International – the joint venture between GE Aviation (NYSE:GE) and Safran Aircraft Engines (OTCPK:SAFRF) (OTCPK:SAFRY) – and the geared turbofan (GTF) engine made by Pratt & Whitney, a unit of Raytheon Technologies (NYSE:RTX), have faced issues with their design and maintenance. “Solutions for LEAP…

NEW YORK – JUNE 7: Tourists take pictures June 7, 2012 of the Wall Street bull several blocks from … [+] the New York Stock Exchange in New York City. (Photo by Robert Nickelsberg/Getty Images)Getty Images It should be clear that we are in a bull market. At least that’s what one market expert says. “In bull markets historically there’s less of a need, or no need at all, for the safest stocks,” writes technical analyst JC Parets in a recent report from his company AllStarCharts. Technical analysts forecast stock movements by looking at charts, amongst other things. Safe stocks…

US President Joe Biden speaks in the Rose Garden of the White House in Washington, DC, May 25, 2023. … [+] (Photo by Mandel NGAN / AFP) (Photo by MANDEL NGAN/AFP via Getty Images)AFP via Getty Images The Biden administration confirmed this week that officials are exploring new updates to the student loan forgiveness application process for public service borrowers. These potential changes, announced on the heels of several other improvements, are designed to streamline access to a key federal loan forgiveness program that has had a troubled history. Here’s the latest. Student Loan Forgiveness Had Been Elusive For Public…

Mike Lynch, the billionaire founder of UK software group Autonomy, has used around $50mn worth of shares in British cyber security group Darktrace to pay for his bail as he awaits trial for fraud in the US.The British entrepreneur, who was extradited to the US earlier this month, has posted around 14.6mn shares in Darktrace. This amount constitutes around half of his holding and is now frozen by the US court, according to court documents seen by the Financial Times. He also used around $15mn in cash as part of the bail agreement. Lynch faces a criminal trial in California…

© Reuters. FILE PHOTO: The Czech National Bank is seen in Prague, Czech Republic, April 26, 2023. REUTERS/David W Cerny PRAGUE (Reuters) – Raising the Czech National Bank’s interest rates further would still make sense as it could serve as a signal that the central bank has not given up on its efforts to tame inflation, board member Tomas Holub said on Sunday. The central bank has kept its main interest rate at 7.00% since last June when it delivered the last hike in a year-long tightening cycle. “The situation that rates have been unchanged for a long time makes…

© Reuters. FILE PHOTO: The Boeing 737 MAX aircraft is displayed at the Farnborough International Airshow, in Farnborough, Britain, July 20, 2022. REUTERS/Peter Cziborra/File Photo/File Photo (Reuters) – Boeing (NYSE:) Co is working on a deal to sell at least 150 737 Max jetliners to Saudi Arabian startup Riyadh Air, Bloomberg News reported on Sunday. The new carrier, wholly owned by Saudi Arabia’s Public Investment Fund (PIF), is looking for about 300 to 400 single-aisle jets in total, the report said, citing people familiar with the matter. Airbus SE (OTC:) could also claim a part of the order, the report…