Wall Street investment banks have diagnosed the U.S. central bank’s 100 basis point hike in interest rates as excessive. JP Morgan economist Mike Ferroli said on the 14th (local time) that “the chance of a 100bp hike at the September Federal Open Market Committee (FOMC) is less than a third.” Bank of America also predicted that the Fed would raise interest rates by 75 basis points this month.
Netflix’s ‘advertisement-type product’ launch likely to be moved up to November
Market Watch reported on the 14th that Netflix will advance the release of low-priced products, which was scheduled for early next year, to November. Although the company is making efforts to improve profitability by introducing advertisement-type products and restructuring, the response from Wall Street is still negative. JP Morgan analyst Doug Anmus said, “Netflix is in urgent need of improving sales growth and free cash flow.” Netflix shares have fallen 63% this year.