JP MORGAN TO LAY OFF 500 IN THE HOME MORTGAGE DEPT.
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Started by 12345 - June 25, 2022, 10:35 p.m.
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By metmike - June 26, 2022, 1:34 a.m.
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Moved  it to trading forum for you Jean!

By 12345 - June 26, 2022, 1:15 p.m.
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WELL... I DIDN'T QUITE KNOW WHERE TO PUT. LOL  

I SAW "INTEREST RATES" IN THE NTR, SOOOOOOO


THANKS, MIKE

By metmike - June 26, 2022, 1:40 p.m.
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There's no easy peasy rule and often the trading topics turn into NTR topics and if you wanted it to stay in NTR that would be ok too, Jean.

However, if it starts here, it minimizes the chance of it turning purely political. 

By joj - June 27, 2022, 9:51 a.m.
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It makes sense that housing would slow down with rising rates making homes less affordable.  

But is 500 a lot?

There are over 250 thousand employees at JP Morgan.

By 12345 - June 27, 2022, 11 p.m.
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I'VE ALWAYS FOUND IT INTERESTING THAT ONE NEEDS TO SEARCH FOR HIRING'S, WHILE THE LAY-OFF'S HIT THE NEWS.  LOL

By wglassfo - June 28, 2022, 2:42 a.m.
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I am sure there will be more lay offs to come, perhaps in 6-8 months it will be head line news

Especially in retail and services

In fact if you have some cash set aside for home renovations, TV, appliances, clothes etc, might pay to wait as the ware houses are getting back logged with merchandize. Retailers have to order perhaps 6 months ahead and the stuff is filling up ware houses. I heard the other day Wall Mart isn't moving nearly as much as just a few weeks ago.I am sure Target etc will be the same. Princess Auto is having sale bills sent out already, but they do that on a regular time schedule so maybe that don't count so much

Folks will back off buying most things except essentials as the prices go up. Some body called it the "bull whip" when prices suddenly crash from lack of buyers. [Except in CA. where Newsom is giving billions of helicopter money to folks in CA.] [I think from 250 to 750/family depending on income]

Any way it won't hurt to wait a bit, you waited this long and see if prices don't come down. After July when holidays are over and the credit card bill comes, folks might decide they have spent enough. Folks were cooped up for so long this is the 1st real family holiday season for many, and by golly most are goona make the best of it. But the chickens will come home to roost and things may change quickly

I think a survey of consumers was done by some body and more than 1/2 thought they would cut house hold expenses

I think manufacturing orders are down a bit and will likely go down some more

If you go on face book I am told a lot of kid toys such as small motor bikes etc are for sale

Folks are selling their toys even ATV's etc., looking for some cash

You can say you heard it 1st on MF that change will come quickly