SummaryThe ARK Innovation ETF has not participated in the recent upwards market surge.Over-concentration in a few tech names creates a big liability for ARKK heading into 2023.Economic downturn could
$DBS GROUP HOLDINGS LTD(D05.SI)$ JP Morgan has downgraded DBS Group Holdings to “neutral” with an unchanged target price of $37 as it sees the group’s future earnings growth already priced in. According to analyst Harsh Wardhan Modi, JP Morgan’s global economics team is anticipating a US recession in 2023, which has implications for growth in Asia. “A probability-weighted outcome of growth/asset quality disappointment is priced in, but not enough, in our view,” says Modi. As current accounts and savings account (CASA) depositors switch to fixed deposits, DBS’s higher cost of funds should increase faster than the street’s expectations, Modi reckons, and this may imply that net interest margin (NIM) expansion may be
SummaryLarge 1-day rallies are usually associated with the bear market rallies.Major bottoms require a policy change.The Fed is still in inflation-fighting mode.gonin/iStock via Getty ImagesThe top 20: daily returns for S&P500The SPDR S&P 500 Trust ETF that tracks the S&P500 soared by 5.5% Thursday - and almost broke into the top 20 daily S&P500 returns in history - since the 1920s. So, what doesit mean?