Investors have a variety of sectors and stocks to watch. In the credit card sector, JPMorgan Chase (JPM) CEO Jamie Dimon’s warning about Trump’s credit card rate cap might help Visa (V) and Mastercard (MA).
Dimon likened capping credit card rates to 10% for a year, or just before the midterms, is equivalent to an economic disaster. It removes credit from 80% of Americans. Since Trump asked for the rate limit, bank shares declined. Watch Wells Fargo (WFC), Citigroup (C), and Bank of America (BAC). They depend on loan revenue from credit cards.
Insurance firm Lemonade (LMND) added around 7% yesterday. The firm will provide a new insurance plan for Tesla (TSLA) vehicles with self-driving software. Data showed that customers using FSD-engaged driving by around half the time had significantly lower risks.
Meta Platforms (META) shares are still in a downtrend that began last August. However, it continued to innovate in the artificial intelligence space. Its AI lab delivered a high-profile model. CTO Andrew Bosworth said that “Boz” models are very good. Doing post-training for the AI is the next step.
Fellow Magnificent 7 stock Apple (AAPL) is taking a cautious approach. Bloomberg reported that Apple will integrate AI directly into the device’s operating systems. It will work similarly to that of Siri. Apple has Google (GOOGL) helping it develop the next version of Siri.
