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BNY: one-on-one with Jim Cramer today. BNY is the first bank to deploy an AI-supercomputer and has 50+ AI-enabled solutions in production. This simply tells me how much farther "we" have to go with regard to AI. Increases its dividend by 13%.
These guys -- CNBC analysts -- are a whole lot smarter than I am. But some thoughts regarding today's meme with regard to the market:
- the meme: Dow falls 300 points on earnings, inflation concerns; Nvidia boosts Nasdaq.
Rambling comments:
- Nvidia news boosts NVDA. NVDA share price is boosting the NASDAQ. Subtle distinctions. Or perhaps not so subtle.
- JPM news should have boosted JPM stock; it did not. So JPM is not boosting the Dow, even though JPM news should have.
- Inflation? As far as I'm concerned -- it's still a "Goldilocks" story. If Biden/Kamala were still in office, the media would be raving how the administration is bringing down inflation / has brought down inflation, but with Trump, the media hates to admit the obvious.
- Inflation: has nothing to do with tariffs. Too long do discuss, but IYKYK. Considering the economic expansion, one could argue it's amazing how tame inflation really is. In fact, increased productivity gains may offset other causes of inflation.
- Is the Dow down today because of inflation fears? LOL. The Dow is down because folks that know are pivoting from legacy companies to technology.
Exhibit A:
- GM, down today, when CRWV is soaring.
- BRK-B: since April 2, 2015, BRK-B is down 13%.
Speaking of GM, there was a Reuters report today updating GM's updated plans. Link here.
- there is so much information, it's hard to keep track of it all, but for me, two takeaways:
- slowly but surely GM is getting out of the EV business, or certainly positioning itself to do so, if necessary; and, they need to be taking these steps now, because once the decision is made, it takes awhile to pivot:
- the new gasoline-powered vehicles won't be available until two years from now -- mid-2027
The big question: what is Ford doing? From what little I know, Ford, once having made the decision to go all-electric, has not yet changed its position.