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☆ It's time to get rid of the 'Magnificent Seven' moniker, according to Wolfe Research
▼ + stars: | 2024-02-27 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

So-called Magnificent Seven stocks Apple , Alphabet and Tesla may no longer be living up to that title, according to Wolfe Research. "It's really more like the Mag 4 or Fab 4 these days," Wolfe Research managing director Rob Ginsberg wrote Monday. " The meteoric rise of the "Magnificent Seven" stocks — Apple, Alphabet, Amazon, Meta Platforms, Microsoft, Nvidia and Tesla — lifted the S & P 500 to a 24.2% gain in 2023. But Ginsberg said Apple, Alphabet and Tesla are ripe for exclusion from the Magnificent Seven. AAPL YTD mountain Apple shares in 2024 Apple shares have slipped roughly 10% from their December 2023 high, Ginsberg said, and they are off by about 6% in 2024.

Persons: Wolfe, Rob Ginsberg, Evelyn, Ginsberg, Tesla Organizations: Wolfe Research, Microsoft, Nvidia, Tesla, Evelyn Partners, Dow, Apple

☆ Magnificent 7 profits now exceed almost every country in the world. Should we be worried?
▼ + stars: | 2024-02-19 | by ( Elliot Smith | ) www.cnbc.com time to read: +4 min

Michael M. Santiago | Getty ImagesThe so-called "Magnificent 7" now wields greater financial might than almost every other major country in the world, according to new Deutsche Bank research. The meteoric rise in the profits and market capitalizations of the Magnificent 7 U.S. tech behemoths — Apple , Amazon , Alphabet , Meta , Microsoft , Nvidia and Tesla — outstrip those of all listed companies in almost every G20 country, the bank said in a research note Tuesday. Of the non-U.S. G20 countries, only China and Japan (and the latter, only just) have greater profits when their listed companies are combined. Deutsche Bank analysts highlighted that the Magnificent 7's combined market cap alone would make it the second-largest country stock exchange in the world, double that of Japan in fourth. However, this level of concentration has led some analysts to voice concerns over related risks in the U.S. and global stock market.

Persons: Michael M, Jim Reid, Deutsche, Reid, Tesla, Evelyn Partners, Daniel Casali, Evelyn, Casali Organizations: New York Stock Exchange, Santiago, Getty, Deutsche Bank, Microsoft, Nvidia, Tesla, Apple, Amazon, Evelyn Partners Locations: New York City, China, Japan, France, Saudi Arabia, U.S

☆ UK PM Sunak Paid More Than 500,000 Pounds in Tax Last Year
▼ + stars: | 2024-02-09 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +2 min

By Andrew MacAskill and Sachin RavikumarLONDON (Reuters) - British Prime Minister Rishi Sunak paid 508,000 pounds ($641,000) in tax in the last financial year after income from his investments dwarfed his official salary, a report by his accountants showed on Friday. The three-page published summary is the second time that Sunak has published details of his tax affairs since he became prime minister in 2022. The figures show that Sunak made 139,000 pounds from his salary as a member of parliament, finance minister and prime minister between April 2022 and March 2023, and 2.1 million pounds from investments. Of his income from investments, 1.8 million pounds came from capital gains, up from 1.6 million pounds a year earlier. About 70% of the total tax paid by Sunak was due to capital gains tax on the profit made from sales of investments such as stocks.

Persons: Andrew MacAskill, Sachin Ravikumar, Rishi Sunak, Sunak, Evelyn, Piers Morgan, David Milliken Organizations: Sachin Ravikumar LONDON, British, Indian IT, Infosys, Evelyn Partners Locations: Indian, Rwanda

☆ Asian shares track US futures higher, bonds hold gains
▼ + stars: | 2023-10-27 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

Overnight, the European Central Bank left interest rates unchanged as expected, sending the euro briefly to a two-week low. S&P 500 futures rose 0.4% while Nasdaq futures rallied 0.7%, driven by a 5% jump in Amazon shares in after-hours trading. In a statement after the U.S. close, the tech giant predicted higher holiday season sales and a stabilisation in its cloud business. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) bounced 0.6% on Friday after hitting a fresh 11-month low a day ago. Brent crude futures climbed 0.5% to $88.38 a barrel while U.S. West Texas Intermediate was at $83.58 a barrel, up 0.4%.

Persons: Aly, Hong, HSI, Nathaniel Casey, Evelyn, Goldman Sachs, Stella Qiu, Sam Holmes Organizations: REUTERS, Nasdaq, European Central Bank, Bank of Japan, Tokyo's Nikkei, Evelyn Partners, 1bp, CME, Brent, West Texas, Thomson Locations: Shanghai, China, SYDNEY, U.S, Asia, Pacific, Japan, East, Israel, Gaza

The pan-European STOXX 600 index (.STOXX) closed 1.5% higher, extending gains to the fourth straight day. U.S. consumer prices advanced 3.0% in June - their smallest year-on-year increase since March 2021 - after 4% growth in May. Gains in the lenders lifted UK's FTSE 100 index (.FTSE) by 1.8%, leading gains among European peers and pushing the European banks index (.SX7P) up 1.9%. European shares have performed better than UK stocks so far this year, amid economic resilience and signs of cooling inflation in the euro zone, with focus now shifting to the upcoming earnings season. Data showed Spanish national consumer prices rose 1.9% in the 12 months through June, down from a 3.2% rise in the period through May.

Persons: Daniel Casali, Evelyn, Jefferies, Vincent Chaigneau, Matteo Allievi, Shreyashi Sanyal, Sohini Goswami, Nick Zieminski Organizations: U.S, Jefferies, Federal, Evelyn Partners, Lloyds, Barclays, HSBC, Bank of England, Miners, ASM International, Infineon, Generali Investments, Air France, KLM, Deutsche Bank, Thales, Cobham Aerospace Communications, Spanish, Thomson Locations: United States, U.S, Gdansk, Amruta, Bangalore

☆ VIEW Bank of England delivers hefty rate hike
▼ + stars: | 2023-06-22 | by ( ) www.reuters.com time to read: +6 min

Traders scrambled to price in a peak to UK rates of as much 6% and its implications for the risk of recession, and rate-sensitive stocks like banks and homebuilders slid. MONEY MARKETS: UK 2-year gilts dropped sharply, then rose after the decision but were last unchanged at 5.04%. But even if the bank hasn't offered up any new guidance, the rate decision itself is revealing. The UK has the unenviable title of highest core inflation rate in the G7, and by quite some margin. "Having said that, their policy is now more data dependent, the bank had to deliver a rate increase.

Persons: homebuilders, Sterling, gilts, JAMIE NIVEN, JAMES SMITH, hasn’t, hasn't, BoE, SEEMA SHAH, CHRIS BEAUCHAMP, Bailey, PAUL OBERSCHNEIDER, BOE, ” ROBERT JEFFREE, GARY SMITH, EVELYN, Yoruk Organizations: Bank of England, MPC, Traders, CANDRIAM, ING, LONDON, IG GROUP, Treasury, EMEA, Thomson

☆ Growth improving isn't good for the U.S. dollar, strategist says
▼ + stars: | 2023-06-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGrowth improving isn't good for the U.S. dollar, strategist saysDaniel Casali, chief investment strategist at Evelyn Partners, discusses the outlook for the U.S. economy.

Persons: Daniel Casali, Evelyn Organizations: U.S ., Evelyn Partners Locations: U.S

☆ Asia is aging rapidly. Strategists reveal stocks to cash in — including tech
▼ + stars: | 2023-04-10 | by ( Weizhen Tan | ) www.cnbc.com time to read: +5 min

He recommended the Global X Aging Population ETF , which includes not just health-care companies and pharmaceutical firms, but also wearables and medical device companies such as Cochlear, GN Store Nord and Teleflex. China's 'very promising bets' Investors can look to focus on China's aging population by market reach or income segment, according to Leverage Shares' Rao. As for investors looking to get exposure to China's wealthier income segment, he named Raffles Medical, Asian Healthcare Specialists and IHH Healthcare — stocks that will also give similar exposure in other Asian countries. Dividend payers and financial services High-dividend-paying stocks as well as financial services are set to benefit from the aging population, according to analysts. Another potential beneficiary of aging populations is financial services, according to Rob Clarry, investment strategist at wealth manager Evelyn Partners.

☆ How Gen Z Is Rewriting the Job Rulebook on 'Résumé Gaps', Career Breaks
▼ + stars: | 2023-01-03 | by ( Eve Upton-Clark | ) www.businessinsider.com time to read: +11 min

Most people are familiar with the scourge of the résumé gap. Young entrants to the workforce are leading a new conversation about the workplace, and the long-scorned résumé gap is no exception. Instead of viewing it as a negative, many Gen Zers are arguing that career breaks are positive and forcing employers to reconsider their preconceived notions about the résumé gap. The pesky résumé gapWhile job candidates have papered over résumé gaps for years, taking a break during the long march of a career is not uncommon. For those looking at working well into their 70s, a career gap, or two, simply makes sense.

Any crunch for Britain's small businesses, which often lack the scale to pass on cost rises to customers as easily as bigger rivals, could deliver a new economic body blow. "How are we going to get out of this hole if it's not small businesses? "But there's no question that small businesses now have less capacity to increase their borrowing because you've got a slowing economy." Indeed small companies in Britain see their access to credit at its worst level since 2015, according to a quarterly survey by the FSB of 1,383 small business owners. Many small companies have also yet to repay state-backed loans extended to prop them up during COVID lockdowns, making their credit profiles increasingly unattractive.

☆ More Britons to pay top income tax rate in budget squeeze
▼ + stars: | 2022-11-17 | by ( Andrew Macaskill | ) www.reuters.com time to read: +3 min

LONDON, Nov 17 (Reuters) - More Britons will pay the top rate of income tax under government plans announced on Thursday to freeze allowances and lower the level at which people start to pay the highest rate as part of measures to stabilise public finances. Hunt said the government would freeze income tax allowances until 2028 and was lowering the threshold above which the 45% top rate of income tax is paid to 125,140 pounds ($148,053) from 150,000 pounds. Her government had said it would abolish the top rate of income tax, before reversing course amid financial turmoil triggered by her plans. The Conservatives pledged in their election manifesto 2019 not to raise income tax or national insurance rates. The Office for Budget Responsibility (OBR), Britain's independent fiscal watchdog, said the decision to freeze income tax allowances would raise an extra 26 billion pounds for the government by the financial year 2027-2028.

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