JPMorgan Chase analysts are turning bearish on major tech and restaurant stocks, citing overvaluation risks as the S&P 500 hits record highs. Tesla (TSLA) faces criticism for its ‘sky-high valuation’ and potential earnings decline due to reduced EV subsidies. Rivian (RIVN) is also flagged for balance sheet challenges amid subsidy cuts and tariffs. Circle (CRCL), Snapchat (SNAP), and Bumble (BMBL) are highlighted as overvalued, with Snapchat struggling with ad spending volatility and Bumble facing a tough dating app market. Other stocks like Cheesecake Factory (CAKE), Intel (INTC), and Shake Shack (SHAK) are also seen as correction candidates. The S&P 500 closed at a record 6,286 points, raising concerns about market sustainability.
about JPMorgan Turns Bearish on Tech, Restaurant Stocks Amid Record Highs
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Stock Futures Steady After S&P 500 Reaches Record High
Stock futures showed little movement following a record high for the S&P 500, which closed at 6,129.58 after gaining 0.24%. Despite strong earnings from Arista Networks, its shares fell 4%, while Bumble’s stock plummeted 18% due to disappointing guidance. Market resilience continues amid inflation concerns and trade policy uncertainties, with investors rotating into smaller-cap stocks.
about Stock Futures Steady After S&P 500 Reaches Record High