Jeremy Grantham says this is the most expensive market in 'American history'

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Veteran investor Jeremy Grantham thinks the artificial intelligence boom has pushed the U.S. stock market to its most expensive level ever and could eventually lead to a historic decline. "Based on the value of the stock market compared to GDP, with modifications, this is the most expensive market in American history," Grantham told CNBC's " Squawk Box ." While the GMO co-founder said he wasn't sure there was a comparable period, the tech bubble of 2000 is the closest analogy. He also highlighted the so-called Buffet indicator , which compares the total value of the U.S. stock market valuation with the size of the economy in terms of GDP. The market capitalization to GDP ratio referenced by Grantham is estimated to be at 235%, according to Longtermtrends.com . It means that the value of the total stock market is more than two times the size of the U.S. economy. Legendary investor Warren Buffett used this indicator, saying years ago that when it "approa...

Trump says Iran violated ceasefire with drone attacks on Strait of Hormuz ships

President Donald Trump on Friday accused Iran of violating a ceasefire agreement with the United States by launching attack drones at ships passing through the Strait of Hormuz , including a cargo vessel that was struck off the coast of Oman on Thursday. "The Islamic Republic of Iran shot at least four One Way Attack Drones at Ships transversing the Strait of Hormuz," Trump wrote in a Truth Social Post. "One of the Drones solidly hit the upper deck of a large and very expensive Cargo Carrying Ship," the president wrote. "Damage was done, but the Ship was able to proceed on its way. We knocked down three other Drones. Obviously, this is a foolish violation of our Ceasefire Agreement." Trump's statement came on the heels of the International Maritime Organization, a United Nations agency, pausing efforts to evacuate ships and seafarers stranded in the strait. Arsenio Dominguez, Secretary-General of the International Maritime Organization, said the evacuation plan would be temporarily paused "in order to reconfirm that the necessary safety guarantees continue to be in place for the ships on our evacuation list and all those in the region."

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