Stock market news today September 11

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The stock market’s favorite tech juggernauts are headed
for a rude awakening — here’s what traders should buy
instead

All good things must come to an end.

It’s an age-old proverb — and one Morgan Stanley says
applies to the tech sector.

This is an alarming prognostication when you consider
that tech stocks have
been indispensable in pushing indexes to record highs.
But Morgan Stanley is adamant that tech is due for a reckoning,
and it boils down to two major reasons.

Amazon has quietly built a $10 billion platform selling
goods to businesses

Amazon on Tuesday
said its specialist business-supplies sales portal was on track
to hit $10 billion in annual sales this year.

Founded in 2015, Amazon Business functions just like regular
Amazon but is specialized to suit the needs of businesses,
offering things like separate VAT pricing and receipts.

It’s the first time Amazon has published global numbers for
Amazon Business. The company says it has millions of customers
for the service and hundreds of thousands of vendors on the
marketplace.

JPMorgan Chase
may start rewarding you to become a better credit.

The consumer banking behemoth is considering ways it can reward
people for improving their credit scores, according to CEO Jamie
Dimon, who shared the initial plans in a late July interview with
Business Insider. The firm would provide incentives for lifting
the score to a certain threshold, like reducing loan costs or
giving other rewards, Dimon said.

“We might gamify it, but also give you real rewards,” Dimon said.
“If you get to 700, 750, we’ll cut your mortgage costs a little
bit. If you get to this, we’ll give you actual rewards like you
do in credit cards today.”

BofA’s virtual assistant Erica surpasses three million
users

Bank of America’s
virtual assistant Erica officially 
surpassed 
3
million total users late last week. Erica, which launched in
May, is housed in the BofA app, and allows users to view and pay
bills, transfer money between accounts, access card controls,
send funds through Zelle, and more, using voice, onscreen
prompts, or texting.

The assistant’s quick success points to user favorability
for voice assistant functionality in banking.

In markets news