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- JPMorgan Chase CEO Jamie Dimon Warns That Inflation, Rising Asset Prices, and More "Continue to Shift Under the Surface."
JPMorgan Chase's third-quarter earnings per share were $5.57, below the $5.93 Wall Street expected, while revenue rose 8% to $50.17 billion against a forecast of $51.23 billion. Commercial and investment banking revenue grew 14% year over year but fell 8% from the previous quarter, and the stock has dropped 10% over the past few weeks. CEO Jamie Dimon said the bank is enjoying strong market activity but does not know when it will stop. He listed large fiscal deficits, sticky inflation, elevated asset prices, rising interest rates and geopolitical conditions as forces that 'continue to shift under the surface,' saying they may be manageable but the bank remains prepared for a wide range of outcomes. The article notes U.S. debt has reached $40.25 trillion.
- We will be in a recession: BlackRock CEO Larry Fink warns a data center moratorium risks an economic crash
BlackRock CEO Larry Fink told CNBC on Oct. 14 that a moratorium on data centers would put the U.S. into a recession, arguing that data centers are creating more new jobs than ever before. Public opposition is growing: a Pew Research Center poll published on Sept. 22 found 50% of Americans said data centers are “mostly bad” for home energy costs. Fink also called the national debt, which passed $40 trillion in August, a major problem and said the U.S. needs to unlock private capital to grow the economy by 3%. On Oct. 13, the IMF projected U.S. growth of 2.3% in 2026 and 2027, unchanged from 2025, but warned that global resilience is under strain and that gains from AI are clustered in a small number of firms.
- BlackRock's Larry Fink warns a data center moratorium could trigger a recession
BlackRock CEO Larry Fink warned that a halt to data center construction in the United States could trigger a recession, saying much of the economy is based on the buildout of this capex. He made the remarks to CNBC after BlackRock reported better-than-expected third-quarter earnings, with its shares rising about 1% in late morning trading. Fink acknowledged local opposition over utility costs, water use, environmental damage and investment transparency, an emerging issue ahead of the Nov. 3 midterm elections, but said most of the concern rests on misinformation. Wall Street analysts estimate AI capital spending could exceed $1 trillion in 2027 and $5 trillion by 2030. Fink argued that data centers are creating more jobs than ever, supporting demand for construction workers, AI hardware and energy infrastructure.
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- FinFET Technology - Global Strategic Business Report Just Released: AI and Data Centers Push FinFET Chip Market Toward $97 Billion
According to Research and Markets, the global FinFET technology market was valued at $38.5 billion in 2024 and is projected to reach $97.1 billion by 2030, growing at a compound annual growth rate of 16.7%. Demand for high-performance, energy-efficient chips across consumer electronics, data centers, automotive, AI and IoT is driving growth. The CPU segment is forecast to reach $36.6 billion by 2030, while China is the fastest-growing market, with an 18% CAGR and $20.8 billion by 2030. The report also assesses the impact of tariffs on semiconductor supply chains and profiles companies including TSMC, Samsung, Intel and NVIDIA.
- The sorrow of Europe's “big brother” economy: Bonds keep selling off heavily after a “turbulent weekend”
French 10-year government bond yields rose 0.14 percentage points to 4.93% after a turbulent weekend, while the spread over German bonds returned to 1.47 percentage points. Nationwide protests over rising living costs and student education conditions turned into widespread rioting and looting; the government said at least 3,000 shops and businesses were looted, and the French retail federation estimated damages could reach “several hundred million euros.” More than 2,500 people are under formal investigation, 67 of them detained, and several cities have imposed curfews. President Macron rejected Interior Minister Laurent Nuñez’s resignation offer, even though Nuñez admitted police were deployed too thinly for protests of over 550,000 people, against an expected 200,000. Opposition politicians and the mayors of Paris and Marseille criticized the government for letting police lose control of the situation.
- President Donald Trump Claims, "We Don't Have Inflation, and Tariffs Don't Cause Inflation," but a New Report Strongly Disagrees
Although the stock market has posted strong returns under President Trump, the article argues his inflation-driving policies may be the biggest threat to the AI-driven bull market. A New York Federal Reserve report by three economists finds that by February 2026, tariffs had added 2.9 percentage points to goods price inflation, and each percentage point increase in average tariffs lifted consumer prices by about a quarter of a point after one year. Beyond tariffs, the Iran war and the ongoing closure of the Strait of Hormuz have pushed fuel prices sharply higher, with fuel oil up 74.0% and gasoline up 34.2% over the past year, while overall CPI rose 3.7%. The article warns that persistent inflation could prompt the Fed to raise rates more aggressively, slowing AI infrastructure investment and sending stocks lower.
- Bitcoin ETFs just saw their biggest day in a month thanks entirely to BlackRock
U.S. spot bitcoin ETFs took in $526.6 million on Monday, the largest daily net inflow in nearly a month, driven entirely by BlackRock's iShares Bitcoin Trust (IBIT), which pulled in $665.2 million, its biggest daily inflow since Oct. 7 last year, according to SoSoValue data. Fidelity's FBTC lost $83.6 million and Grayscale's GBTC shed $54.9 million, while the remaining funds recorded no net flows. The inflow more than erased last week's $228.5 million of withdrawals, but funds remain about $90.5 million in net outflows for October, according to CoinDesk calculations. Ether funds moved the opposite way, losing $103.3 million in their fourth consecutive session of outflows, with BlackRock's ETHA accounting for $95.4 million of that.
- A Big4 bank cut deposit rates in the morning, then raised them again in the afternoon
VietinBank cut its deposit rates for terms of 6 months and longer on the morning of Oct. 20, then restored them to pre-adjustment levels by the afternoon. Its afternoon rate board showed 3.5% per year for 6 to under 12 months, 5.9% for 12 to under 24 months and 6% for 24 months and longer, versus 3%, 5.4% and 5.5% in the morning. Rates for terms under 6 months stayed unchanged, including 2.1% for 1 to under 3 months and 2.4% for 3 to under 6 months. The move came as banks followed the State Bank of Vietnam's guidance to cut deposit rates by at least 0.5 percentage points for terms of 6 months and longer, and Vietcombank and Agribank were among those reducing rates.
- IVV vs. SPY: Which S&P 500 ETF Is the Better Buy for Long-Term Investors?
The article compares two ETFs that track the S&P 500, iShares Core S&P 500 ETF (IVV) and State Street SPDR S&P 500 ETF (SPY), which have nearly identical holdings. The main difference is the expense ratio: IVV charges 0.03% a year, one-third of SPY's 0.09%, and its distribution yield is about 1.1% versus 1% for SPY. SPY's high liquidity remains valuable for active traders. The article concludes that IVV is the better choice for long-term investors, since lower costs can compound over time.
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