Grantham Predicts AI Bubble Burst on Wall Street Amid Tech Rally

Investment guru Jeremy Grantham, known for anticipating major market shifts, has labeled the current artificial intelligence surge in the stock market as a bubble set to deflate. Despite recent record highs, driven by giants like Nvidia, Grantham remains skeptical about the long-term stability of this tech-led rally. He warns of an impending economic downturn and advises investors to focus on quality stocks with solid fundamentals, particularly in sectors like energy and metals, due to their finite and appreciating nature. (CNN)

Tesla’s Future Uncertain as Stock Plummets Amidst Growth and Safety Concerns

Elon Musk’s Tesla, once a vanguard in electric vehicle manufacturing and a member of the elite “Magnificent Seven” tech giants, is now facing its toughest times. The company’s stock has tumbled nearly 32% this year, making it the worst performer in the S&P 500. Plagued by safety issues, recalls, and slowing growth, Tesla is struggling amidst increased competition and a saturated market.

Analysts from Wells Fargo and UBS paint a grim picture, predicting stagnant growth, further price cuts, and a continued decline in stock value. Tesla’s once-promising trend of rapid expansion is now overshadowed by mounting challenges and a significant drop in its stock price from its 2021 peak. (CNN)

Biden Opposes US Steel Sale to Nippon Steel, Emphasizing National Ownership

President Joe Biden has voiced strong opposition to the proposed sale of US Steel to Japan’s Nippon Steel, underscoring the importance of keeping the iconic American company domestically owned and operated. This marks the Biden administration’s most direct intervention against the controversial deal, citing national security and economic concerns. Biden’s stance reflects a commitment to American steel workers and industry, amidst growing scrutiny of foreign investments and their impact on national security and the U.S. job market. (CNN)