Three former JPMorgan Chase & Co employees were acquitted of racketeering and conspiracy charges in a landmark futures manipulation trial on Wednesday, although two were found guilty on other charges including fraud, a Department of Justice spokesperson said.
The market is still pricing in a 30 percent possibility of a hike in September. So, the house does not entirely rule out a September rate hike by Fed, said Ian Hui, JP Morgan AMC.
Tai Hui, MD, Chief Market Strategist - Asia, JP Morgan AMC is positive on European and Japanese equities in the developed market and on India and selective sectors in China among emerging markets.
According to Geoff Lewis, globally, investors appear a bit anxious as they are not certain about the US Federal Reserve's course of action on its monthly bond purchases.
In an interview to CNBC-TV18, Geoff Lewis of JP Morgan AMC spoke about his views on global economy, emerging markets and currencies. He says that the EMs will have a difficult task to gain ground due to the improving US economy.
Geoff Lewis, ED, JP Morgan AMC is surprised by US consumer spending holding up and adds that there may be a short-term correction in the US market. Lewis foresees a gradual recovery in the global economy expects markets to offer better returns in 2013 over 2012.
Geoff Lewis of JP Morgan AMC, in an analysis of global markets and economies on CNBC-TV18, explains that there is little hope of a solution to the fiscal cliff before January 1. Lewis believes growth will pick up in the US in the secnd half of 2013.
Edward Pulling, managing director and chief information officer, Asia Pacific Equities at JP Morgan AMC remains cautiously optimistic on India. "We need to see concrete action by the Indian government," he adds.
In an interview to CNBC-TV18, Richard Titherington, CIO & Head-EM Equity at JP Morgan AMC spoke about the in line results of the US elections and how the focus has now shifted entirely to the Fiscal issues.
Geoff Lewis of JP Morgan AMC believes the equity market would have benefitted if Republican candidate Mitt Romney had won. In that case, the key issue of the US fiscal cliff could have been solved more effectively, feels Lewis. According to him, US markets could see a correction going into the year end.