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By Staff Reporters
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Starwood Capital CEO Barry Sternlicht, who has a net worth of $4.6 billion, says inflation is going to drop—and it’s going to drop hard. In an interview with CNBC’s Squawk Box, Sternlicht was asked what he’d say in response to JPMorgan Chase CEO Jamie Dimon’s annual letter to shareholders, in which Dimon writes that current economic conditions “create more risk and potentially higher inflation,” and higher rate hikes.
However, after saying he’s a big fan of Dimon and that he runs “probably one of the best banks in the world,” Sternlicht clarified to CNBC that “we don’t agree on everything.”
CITE: https://www.r2library.com/Resource
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The following is a round-up of yesterday’s market activity:
- The S&P 500® Index was up 4.09 (0.1%) at 4109.11; the Dow Jones industrial average was up 101.23 (0.3%) at 33,586.52; the NASDAQ Composite was down 3.6 at 12,084.36.
- The 10-year Treasury yield was up about 4 basis points at 3.419%.
- CBOEs Volatility Index was up 0.54 at 18.94.
Energy and transportation were the strongest-performing S&P 500 sectors, while communications services was the biggest laggard. WTI crude oil futures fell slightly but remained near two-month highs posted last week.
Gold futures fell sharply for the second session in a row. The U.S. dollar index jumped to its strongest level in nearly two weeks.
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Filed under: "Ask-an-Advisor", Alerts Sign-Up, Experts Invited, Interviews, Investing | Tagged: CBOE, CNBC, crude oil, DJIA, DOW, gold, inflation, Investing, Jamie Dimon, JPMorgan Chase, NASDAQ, oil, S&P 500, Starwood Capital, Sternlicht, Treasury yields, US dollar index, Volatility Index, WTI | Leave a comment »
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