Jamie Dimon's dire warnings for the economy and banking industry.

JPMorgan CEO Jamie Dimon warned of potential widespread panic if lawmakers don't strike a debt deal, saying it affects contracts, collateral, clearing houses, and clients. While he doesn't anticipate a US default, he acknowledged the clock is running down. Home sales could crash 23% in the event of a US default, according to a Zillow economist. Meanwhile, US stock futures rise, and a hedge fund manager shared how he leverages GPT-4 to inform his top stock picks. Fundstrat's Tom Lee said the bull case for stocks is alive and well, and Microsoft is the stock to buy as it leads the charge in the AI arms race.