00:00 Speaker A
Plan Morgan Stanley about 2,000 job reductions to reduce costs? According to reports, the reduction of staff has no influence on financial advisers. The cuts were also planned before the recent market correction. The financial sector is one of the most difficult struck by the recent sales campaign. We saw a huge run -up to the financial data after the election of President Trump. A lot of euphoria about what would happen in terms of banking regulation, and now you have seen financial information here under a little pressure here. And then you have this job loss. Jessica, I am curious how you look at what is coming for financial data given the policy uncertainty.
01:06 Jessica
Well, first of all, I'm really worried about how this looks at the wider image. I am still very positive about that AI story. However, Finance was really led at the start of the year. And after the election it was real, really great. The same with technology was what previously led us and then also led the decline. And this seems that it can also happen with financial data. It therefore needs policy security. We were promised this pro-business and fewer regulations that seemed to have this financial data. What I am worried about is if this is a larger trend. Any masses are definitely a concern, and if there are jobs and now we are cutting and trimming work, that is a cause, a very reason for concern if it is bleeding elsewhere.
2:44 AM Speaker A
II also found it really interesting, and I was just looking for the news about the news about the traders of JP Morgan who scored enormous profit on the market in the midst of the downturn we have seen this year. That is something that will appear in their income, I imagine, right? If they have so much success to beat the market. I believe they are double digits of the year. In the meantime, the wider market has fallen almost 10% at the moment. So what does that look in their income? Is that a good catalyst for financial data?
3:25 AM Jessica
Well, and we want to know why the income is doing so well. Is it because of the cost savings that happens on the bottom line? Do they encourage income? There is much more increase in fixed -income values that helps with their margins because of the spreads they can capture. So I really think that financial data have many positive catalysts who go for them. But I think what the market really gave about, that pro-business and administration. And so clarity will help. But I'm worried about the cost savings and how that would bleed elsewhere. That's a concern.
4:16 AM Speaker A
And we later have a former FTC commissioner in our show who will be able to ask about it.
