Are we headed for a “soft landing”? A new survey of America’s leading chief executives reveals their forecasts for the U.S. economy. • Growth slows, stocks rise. Can the big tech rally broaden? J.P. Morgan U.S. and global strategists discuss the direction of the big tech rally. • Popular digital payment apps are not a safe place to store money. That’s according to the head of the Consumer Financial Protection Bureau, who explains the danger for consumers.
CEOs Increasingly Foresee A “Soft Landing” — The breakneck pace of corporate hiring may slow in the coming months — but the overall economy remains solid. That’s the takeaway from a new survey of America’s leading chief executives shared with Axios. Here is why it matters. Read more…
Market Update: June In Bloom — June is off to a sunnier start after a cloudy spring. And while the stock rally is broader than meets the eye, there’s still no denying that big tech has been a powerhouse. J.P. Morgan strategists dig into the tech hype, and what it might tell us about where markets are heading. Read more…
Regulator Warns: Don’t Store Money In Venmo, Cash App, And Paypal — The head of the CFPB is urging consumers to keep their funds in traditional banks and credit unions. The federal consumer watchdog recently warned that money stored in these payment apps is not automatically insured by the government and could be completely lost if the companies fail. Read more…
John R. Day, Bill Ennis, and Matt Heller