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BNY Mellon Wealth Management's chief investment officer explained why stocks have limited upside. Sinead Colton Grant has hit the ground running in her new role as the chief investment officer at BNY Mellon Wealth Management. What to expect in the economy this yearThe theme of BNY Mellon Wealth Management's 2024 outlook report is "a healthy slowdown." However, Colton Grant acknowledged that there are serious discrepancies between how high- and low-income households experience the economy. 5 top places to invest nowBNY Mellon Wealth Management may be neutral on equities broadly, but it has a bullish overweight rating on US stocks.
Persons: Sinead Colton Grant, BNY, she's, BNY Mellon, Colton Grant, David Kelly, Colton, Kelly, Colton Grant's Organizations: BNY Mellon Wealth, BNY Mellon Wealth Management, BNY Mellon, BNY, JPMorgan Asset Management, Business, Mellon Wealth Management, Federal Reserve, Mellon, Management, Asset Management, BMO Capital Markets Locations: BlackRock, Invesco
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe economic headwinds against the consumer aren't fatal, says BNY's Alicia LevineAlicia Levine, BNY Mellon Wealth Management, joins 'Closing Bell' to discuss the August CPI report and what it means for the markets and economy.
Persons: BNY's Alicia Levine Alicia Levine Organizations: BNY Mellon Wealth Management
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe can have a correction in the market without going into recession: BNY Mellon's Catherine KeatingCatherine Keating, BNY Mellon Wealth Management CEO, joins 'Squawk Box' to discuss the latest market trends, inflation and interest rate outlook, Treasury yields, and more.
Persons: Mellon's Catherine Keating Catherine Keating Organizations: BNY Mellon Wealth Management
Futures tied to the S&P 500 were little changed in overnight trading Monday. Futures linked to the broad market index added 0.1%, while Nasdaq-100 futures rose about 0.2%. A rebound in semiconductor and technology names lifted the S&P 500 and Nasdaq Composite 0.58% and 1.05%, respectively, during the regular trading session. Six of the 11 major S&P sectors finished positive, led to the upside by information technology. Later in the week, traders will parse releases from Target and Walmart .
Persons: Homebuilders D.R, Horton, Lennar, Warren Buffett's Berkshire Hathaway, NVR, Stocks, selloff, Morgan Stanley, Alicia Levine Organizations: New York Stock Exchange, Nasdaq, Dow Jones, Discover Financial, Dow, Nvidia, VanEck Semiconductor, BNY Mellon, Home Depot, Target, Walmart
Before you broadcast your sudden windfall to the world, and even before you contact lottery officials, you’ll be wise to surround yourself with a team of lawyers and financial advisers. Make copies of both sides of your lottery ticket, and then lock it up somewhere only you can access it. “Find an attorney who has experience dealing with people with this level of wealth, because it is different,” says Herzig. Next up, you’ll need an accountant and a financial adviser to protect your wealth from “creditors and predators,” as Herzig puts it. But there’s one big piece of the lottery puzzle that you can’t farm out to lawyers, and that’s your mental health.
Persons: you’ll, , ” Belinda Herzig, , Gary, who’s, Herzig, you’re Organizations: New York CNN, Mellon Wealth Management, CNN, lotto Locations: New
Four lawyers to the wealthy told Insider how these spendthrift trusts work. How spendthrift trusts workSpendthrift trusts can be used to defend an heir in virtually any kind of legal dispute. Robert Strauss, partner at Weinstock Manion, does not view spendthrift trusts as a substitute for prenups. Having separate beneficiaries and trustees is just one way to strengthen a spendthrift trust's power. Domestic asset protection trusts set up in a trust-friendly state like Delaware are very secure, he said.
Persons: Laurene Powell Jobs, Phil Knight, Karen Yates, didn't, Jere Doyle, Doyle, Spendthrift, Yates, Robert Strauss, Weinstock Manion, Strauss, Cindy Brittain, Karlin & Peebles Organizations: Apple, Nike, Mellon Wealth Management, Karlin & Locations: California, South Dakota, Delaware
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Big Tech founder Alex Kantrowitz and BNY Mellon’s Alicia LevineAlex Kantrowitz, Big Technology founder, and Alicia Levine, head of equities and capital market advisory at BNY Mellon Wealth Management, join 'Closing Bell' to discuss Apple stock, the tech rally, and more.
Persons: Alex Kantrowitz, BNY Mellon’s Alicia Levine Alex Kantrowitz, Alicia Levine Organizations: Big Tech, Big Technology, Mellon Wealth Management, Apple
Dynasty trusts can last up to 1,000 years – about 40 generations – in Florida and other states. So-called dynasty trusts allow affluent taxpayers to provide for as many as forty generations and only be subject to tax once. Dynasty trusts have grown in popularity as the generation-skipping transfer tax exemption has skyrocketed, according to Sandy Christopher, partner at Withers Bergman. They are usually drawn to dynasty trusts to keep businesses within their families and protect assets from creditors. Dynasty trust assets are also shielded in the event of a divorce.
Stocks rise and dollar falls while oil rallies
  + stars: | 2023-03-31 | by ( Sinéad Carew | ) www.reuters.com   time to read: +4 min
[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., March 30, 2023. Economists polled by Reuters expect core prices rose by 0.4% in February and posted an annual increase of 4.7%. The U.S. dollar slipped to a one-week low against the euro as German inflation data helped lift the common currency. MSCI's gauge of stocks across the globe (.MIWD00000PUS) closed up 0.72% while emerging market stocks (.MSCIEF) rose 0.67%. Gold prices gained with a weaker dollar and lower bond yields driving demand for the precious metal, while investors waited for U.S. inflation data to gauge the Fed's next move.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Virtus Investment Partners' Joe Terranova and BNY Mellon's Alicia LevineJoe Terranova, Virtus Investment Partners chief market strategist, and Alicia Levine, head of investment strategy at BNY Mellon Wealth Management, join ‘Closing Bell’ to discuss whether Treasury Secretary Janet Yellen and Fed Chair Jerome Powell are sending mixed messages to the market.
Stock futures rose slightly in overnight trading as investors braced for the latest commentary due Tuesday from Federal Reserve Chairman Jerome Powell. Futures tied to the S&P 500 added 0.13%, while futures connected to the Dow Jones Industrial Average inched 20 points, or 0.07% higher. Nasdaq-100 futures rose 0.13%. The S&P 500 slid 0.61%, while the Nasdaq Composite dropped 1%. So far this season, a little over half of S&P 500 companies have reported earnings, with about 69% surpassing expectations, according to FactSet data.
UBS's Mark Haefele says there's a strong possibility the January market rally is a "head fake." But the rally has sputtered to a halt after US stocks sold off this week to erase half the gains they've made in 2023. "But it remains possible that the rally is a 'head fake,' and that economic data will ultimately disappoint." This may be due in part to a strong labor market keeping wage growth robust. And despite energy's astonishing rally last year, Haefele still believes that there's still room to go for the sector.
I do think that will happen even more in the week ahead as the Fed is in a blackout period. S & P Global PMI data is released for both services and manufacturing Tuesday. "The market continues to think the Fed does not have to administer as much medicine as the Fed tells us they plan to. Earnings, earnings, earnings Stocks were lower in the past week, with the S & P 500 off by 1.8%. "It's a mild earnings recession, but it's an earnings recession.
Leo Grohowski believes that after a bumpy ride, markets should recover in the second half of 2023. After last year's stock market slump, it's understandable that investors want to leave 2022 far behind in the rearview mirror. On the other hand, Grohowski believes that high yield spreads, which look "very attractive" now, could weaken along with economic growth in 2023. Grohowski believes that high-quality companies with strong dividends and high cash flows will continue to thrive this year just like they did last year. Assets such as private investments, commodities, and real estate can also help investors hedge against inflation and potential market dislocations.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full post-market discussion with Virtus' Joe Terranova, BNY Mellon Wealth Management's Alicia Levine and CIC Wealth's Malcolm EthridgeVirtus Investment Partners' Joe Terranova joins 'Closing Bell: Overtime' to discuss the markets and whether he believes there could be positive momentum building. With Alicia Levine, BNY Mellon Wealth Management and Malcolm Ethridge, CIC Wealth.
But Fed Chair Jerome Powell dashed those hopes during his press conference when he talked about how the Fed is still extremely worried about inflation. Here’s the thing, though: Investors are paying way too much attention to what Powell and other Fed members are saying about the economy and not focusing enough on numbers that show how the economy is actually doing. So much can change and there is always a constant flood of new data (and new speeches from Fed policy makers) to digest and parse. Keep an eye on that data more than Fed speeches and volatile interest rates futures. And the fed funds rate futures are going to keep changing based on what the latest economic reports look like.
Premarket stocks: The bond market is crumbling
  + stars: | 2022-09-29 | by ( Nicole Goodkind | ) edition.cnn.com   time to read: +7 min
New York CNN Business —The global bond market is having a historically awful year. Vanguard’s $514.5 billion Total Bond Market Index, the largest US bond fund, is down more than 15% so far this year. The iShares 20+ Year Treasury bond fund (TLT) (TLT) is down nearly 30% for the year. What’s next: The bond market may face fresh volatility on Friday with the release of the Federal Reserve’s favored inflation measure, the Personal Consumption Expenditure Price Index for August. If the report comes in above expectations, expect bond yields to move even higher.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHealthcare is the way to reenter the market for the next 12 months, says BNY's LevineJeffrey Kleintop, Charles Schwab chief global investment strategist, and Alicia Levine, head of equities and capital market advisory at BNY Mellon Wealth Management, join 'Squawk on the Street' to discuss whether it's a good time to invest.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt's not a bad plan to start edging in to the markets, says BNY's Alicia LevineKeith Lerner of Truist and Alicia Levine of BNY Mellon Wealth Management join 'Closing Bell: Overtime' to discuss the Fed's impact on the markets and how they're positioning themselves heading into the end of the year.
Sherry Pryor Witter, CEO of the Witter Family Office, said crypto and blockchain accounted for about 40% of the office's assets at their peak. "I think this is a great time to get into the better projects of crypto," said Witter, who started buying crypto tokens in 2018. A recent survey of family offices in a BNY Mellon Wealth Management and Harris poll found that 77% of family offices were exploring or investing in crypto. Family innovation Witter said innovation has always been at the heart of the Witter family. Witter admits, however, that her broader strategy of becoming a "crypto and blockchain" family office has had to shift.
Persons: Witter, Sherry Pryor Witter, Harris, Dean Witter, Dean, Michael D, Dean Witter's, Eddie Lampert, Michael, I'm Organizations: Witter Family Office, Witter Family, Mellon Wealth Management, Dean Witter & Co, Flare Network Locations: Wall, U.S, Flushing
For wealthy parents, these loans are a way to pass on their wealth to their children at a low cost. Every week for the past 14 months, the wealth advisor Aaron Bell has had to help his affluent clients buy houses. With interest rates on loans as low as 2%, clients can save money by taking out loans they don't need, rather than liquidating their stock and incurring hefty capital-gains taxes. Parents pledging their investment accounts with their child as the borrower is a tax-efficient way to pass along assets before death. These lines are also secured by the value of the property, which means that as it appreciates, the adult child's dependence on their parents' assets decreases.
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