Daily Brief - 20 Mar 2024

Apple’s considering fitting out its iPhones with Google’s Gemini AI

Apple is spicing up its iPhone lineup by planning to integrate Google's Gemini AI engine, a move aiming to impress investors craving an AI breakthrough. Despite Apple's stock struggling this year, this partnership could be a game-changer, offering the tech giant a chance to rebound with an innovative edge. The deal, still in the air, would mark Gemini's most notable collaboration yet, potentially boosting both Apple and Google. As Apple explores new ways to innovate amid slowing iPhone sales and other challenges, this AI integration suggests a strategic pivot to stay ahead. Meanwhile, the investment world is advised to look beyond the usual tech giants for AI-driven growth opportunities, spotlighting sectors like retail and consulting for potential gains.

JPMorgan surprises investors with a 9.5% dividend hike after a record-breaking year

JPMorgan Chase has given its shareholders a pleasant surprise by raising its quarterly dividend by 9.5%, setting it at $1.15 a share. This boost follows a year of record profits for the bank. It's the second time in a year that JPMorgan, the largest bank in the US, has upped its dividend. Over the last three years, the bank has returned about $60 billion to its shareholders through dividends and buybacks. The move comes amid discussions on regulatory changes that might ease up on capital requirements, which JPMorgan has previously criticized. The bank's shares have seen a 14% rise this year, showing a stable performance even after the announcement.

US dollar bears risk being ‘gloriously wrong’ as global rates fall

The US dollar is showing unexpected resilience, gaining ground against many major currencies. This comes as central banks globally are gearing up for the most synchronized rate cuts since 2008, a move aimed to bolster weakening global growth. Despite earlier bets on the dollar weakening due to anticipated aggressive rate cuts by the Federal Reserve, the greenback has actually strengthened, thanks in part to its yield premium and status as a safe haven. With the Fed's interest rate expected to remain relatively high, the dollar might continue its upward trend. Market watchers caution against underestimating the dollar, as economic conditions and central bank policies could fuel its continued strength.