JPMorgan delivers shock verdict on the stock market

JPMorgan CIO Bob Michele wasn’t reading the room in his interview with CNBC, which is exactly what makes his take so striking. Although investors have spent the past couple of weeks or so worrying that the market may have finally run out of steam, the firm’s chief investment officer (CIO) feels the economy is significantly better off than market sentiment suggests. He argues that the AI boom is not a bubble, which is in sharp contrast to the charts that have been flashing red lately. As of Monday, Nov. 1 ...