Forget the AI Bubble: Jordi Visser Says the 'Bankpocalypse' Has Begun
Jordi Visser says rising yields are no dot-com replay. Instead, AI agents demanding instant payments could squeeze banks, Visa and Mastercard.
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US stocks rise with Dow Jones up 0.57% and NASDAQ climbing 0.69%. GM reports strong Q2 results and Utz Brands announces acquisition. Oil and gold up.
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Jordi Visser says rising yields are no dot-com replay. Instead, AI agents demanding instant payments could squeeze banks, Visa and Mastercard.
Stellantis' Q3 U.S. sales showed mixed results as its Ram brand surged 29% with the Ram 1500 posting a 73% sales gain, while Jeep declined 20% due to slower Compass and Grand Cherokee sales. Despite the bittersweet quarter, the automaker's $70 billion FaSTLAne 2030 turnaround strategy includes expanding Jeep offerings and manufacturing capacity, positioning both brands as cornerstones for recovery. With a market cap of only $13 billion—far below competitors—patient investors may find opportunity if execution succeeds.
Ford has recovered from supplier fires at Novelis that disrupted F-Series truck production for over a year, costing the company billions. August marked the best Super Duty production month since 2006, with Ford resuming aluminum sourcing from Novelis' New York facility. However, the company's heavy dependence on the F-Series—valued at 135% of Ford's market cap—poses long-term risks as the industry transitions to electric vehicles with lower margins.
UBS analyst Joseph Spak maintains General Motors (NYSE:GM) with a Buy and lowers the price target from $114 to $112.
RH shares jumped 8.2% premarket after EPS beat estimates despite a revenue miss; Oracle and others gained, while OPTT and ZUMZ fell.