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☆ Emerging markets are a top investing trend for 2023. Here's the best way to take advantage
▼ + stars: | 2023-01-23 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +6 min

The iShares MSCI emerging market Asia exchange traded fund is up 11% and the iShares core MSCI emerging markets ETF is up more than 10% since the year began. For Kotler, it's emerging market bonds, where his firm has an overweight rating as opposed to a neutral rating on equities. One other factor that should help emerging market countries outperform in 2023 is the winding down of the strength of the U.S. dollar. Some top emerging market bond funds include the iShares JP Morgan USD Emerging Markets Bond ETF , the Vanguard Emerging Markets Government Bond ETF and the VanEck JP Morgan EM Local Currency Bond ETF. Of course, the downside to large emerging market funds is that they tend to be most heavily weighted to China, as it's the largest emerging market country.

☆ Medical device stocks tend to beat the market, and analysts expect these names to see big gains
▼ + stars: | 2023-01-23 | by ( Bertha Coombs | ) www.cnbc.com time to read: +4 min

Medical device makers, like many manufacturers, have faced challenges over the last year from inflationary supply chain costs, staffing shortages and the strong dollar impacting sales overseas. However, since 2007 the device sector ETF has averaged a gain of 14% per year, 6 percentage points better than the broader market index over the same period. More than 60% of analysts rate the shares a buy, with a mean price target implying 34% upside. Nearly 90% of analysts rate the stock a buy, with mean price target of $53, implying more than 30% upside. BTIG analysts Marie Thibault and Ryan Zimmerman think that M & A could be another catalyst for the medical device sector in 2023, with robotic surgery players likely to be of particular interest.

☆ How Charlie Javice's Frank Sale to JP Morgan Wound up in Allegations of Fraud
▼ + stars: | 2023-01-21 | by ( Katherine Long | Jack Newsham | ) www.businessinsider.com time to read: +21 min

Her financial aid startup, Frank, was featured in the New York Times, CNBC and Wall Street Journal. After leaving the University of Pennsylvania's Wharton business school, Javice traded on her reputation, bolstered by glowing profiles, as a successful entrepreneur. In a 2018 interview with Insider, Javice claimed Frank secured an average of $28,000 for its users, and was helping students get "thousands off their tuition." "Charlie's first company fizzled after 18 months, so after losing all her investors' money, she convinced every one of them to fund her next company, Frank." At Frank, Javice admitted she sometimes painted a more positive picture of the company's health than was supported by the facts.

☆ Davos 2023: Key takeaways from the World Economic Forum
▼ + stars: | 2023-01-20 | by ( ) www.reuters.com time to read: +6 min

[1/4] NATO Secretary General Jens Stoltenberg, Poland's President Andrzej Duda and Canada's Deputy Prime Minister and Minister of Finance Chrystia Freeland take part in the World Economic Forum session on "Restoring Security and Peace. REUTERS/Arnd WiegmannDAVOS, Switzerland, Jan 20 (Reuters) - Global leaders and business executives departed a freezing World Economic Forum (WEF) meeting on Friday after a frank exchange of views over how the world will tackle its biggest issues in 2023. Here's what we learned:ECONOMY: Gloom and doom heading into Davos turned into cautious optimism by the end with the global economic outlook for the year ahead looking better than feared. On the inside, political leaders like Kier Starmer railed against new oil investments and Pakistani climate minister Sherry Rehman pushed for loss and damage funding. The lesson I have learned in the last years ... is money, money, money, money, money, money, money."

☆ China’s video game makers come in from the cold as crackdown eases
▼ + stars: | 2023-01-20 | by ( Josh Ye | ) www.reuters.com time to read: +5 min

[1/2] The Tencent Games logo is seen on its game on a mobile phone in this illustration picture taken August 3, 2021. "We believe the approvals indicate a more benign regulatory environment for the China gaming industry," JP Morgan analysts wrote in a note on Wednesday. "With rich game supply, we are more positive on overall online game market growth during Chinese New Year, a traditional strong season for the China online game market." Whether the gaming market can return to form also depends on the recovery of the Chinese economy, which has been thumped by a surge in COVID infections. However, data shows China’s total gamer population remains stable, slipping just 0.33% in 2022 from 2021 to 664 million.

☆ Premarket stocks: What we learned at Davos: The economy is a mess, but there's still hope
▼ + stars: | 2023-01-20 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

New York CNN —Friday marks the end of the annual World Economic Forum meeting in Davos, Switzerland, an elite gathering of some of the wealthiest people and world leaders. The meetings between CEOs, politicians, and global figures at Davos can help set the tone for the year ahead. CEOs and political officials are also worried about the United States hitting its borrowing cap on Thursday, forcing the Treasury Department to start taking “extraordinary measures” to keep the government open. If an agreement isn’t reached, markets could plunge (like they did the last time this happened in 2011) and the United States risks having its credit rating downgraded again. China’s removal of strict coronavirus restrictions late last year is also expected to unleash a wave of spending that may offset economic weakness in the United States and Europe.

☆ Premarket stocks: How investors are preparing for a debt ceiling standoff
▼ + stars: | 2023-01-19 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

Now, aggressive tightening by the Federal Reserve and large spending packages have helped bring that ceiling into play once again. But Washington is at an impasse over whether or not to raise the debt limit: The White House expects Congress to pass a debt ceiling increase without conditions while Republicans say that any increase should be accompanied by spending cuts. Esther George says goodbye to the FedMost Americans dream of retiring by 65, but at the Federal Reserve it’s required. The Federal Reserve Bank of Kansas City president Esther George turned 65 this weekend, triggering her mandated retirement. “Today, the U.S. is again experiencing high inflation and the Federal Reserve is aggressively tightening monetary policy.

☆ Jamie Dimon says Congress shouldn't play games with the creditworthiness of the U.S. government
▼ + stars: | 2023-01-19 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Jamie Dimon, President, CEO & Chairman of JP Morgan Chase, speaking on Squawk Box at the WEF in Davos, Switzerland on Jan. 19th, 2023. JPMorgan Chase CEO Jamie Dimon said Thursday that politicians should be serious about the debt ceiling as Congress remains locked in a political fight to increase the U.S. borrowing limit. It should never happen," Dimon said Thursday on CNBC's "Squawk Box" from the World Economic Forum in Davos, Switzerland. His comments come as Congress remains in a standoff over the debt ceiling, the amount of money the U.S. is authorized to borrow to pay its bills. Today, Dimon said, "Of course Democrats will blame the Republicans and Republicans will blame the Democrats.

☆ Investors are jumping into bonds to start 2023, and these fixed income ETFs are hot
▼ + stars: | 2023-01-18 | by ( Jesse Pound | ) www.cnbc.com time to read: +3 min

The renewed interest in fixed income comes after 2022 proving one of the worst years on record for fixed income investing, leading some to wonder whether the traditional portfolio of 60% stocks and 40% bonds may have outlived its usefulness. Surging interest in bonds is evident in fixed income ETFs, where cash has been pouring in during the first two weeks of the year. Last year, a record of $266 billion of cash flowed into fixed income ETFs, according to BlackRock. The iShares JP Morgan USD Emerging Markets bond ETF (EMB) also makes the top 10. For investors who are more cautious about the macroeconomic picture, there could still be solid returns in safer corners of the bond market.

Japanese investors hold a lot of foreign bonds - some $4.3 trillion in various debt instruments, of which $2.085 trillion is "portfolio investments." Around half of that is in U.S. assets such as Treasuries, agency debt and corporate bonds, and around a third in euro zone securities. Wholesale liquidation of Japanese investors' foreign bond holdings is unlikely barring a "very substantial" rise in Japanese yields from here. chartLast year, Japanese investor selling picked up pace as U.S. and euro zone borrowing costs rose. Hedged investors have cut back their exposure to foreign bonds, particularly banks and now life insurers, according to Setser and Etra.

☆ Hedge fund manager Boaz Weinstein bets market is wrong on Credit Suisse
▼ + stars: | 2023-01-17 | by ( Nell Mackenzie | ) www.reuters.com time to read: +3 min

"The curve trade in Credit Suisse reflects my view that one way or the other, in the next two years the drama around Credit Suisse will resolve for better or for worse. Weinstein led a proprietary trading fund at Deutsche Bank which was spun out to start Saba Capital Management in 2009. Credit Suisse's CDS surged in price through late November after the bank's $2.4 billion rights issue and the stock of the company fell to the lowest level in its 166-year history. While bearish bets against Credit Suisse mounted in late 2022, Weinstein says he watched Credit Suisse's CDS price curve make less and less sense: the 2-year protection on the bank cost about the same as the 10-year. Credit Suisse declined to comment.

☆ Davos 2023: The World Economic Forum explained
▼ + stars: | 2023-01-16 | by ( Siddharth K | ) www.reuters.com time to read: +4 min

DAVOS, Switzerland, Jan 16 (Reuters) - The World Economic Forum (WEF) returns to its snowy winter residency in the Swiss Alps this week with a record attendance of business and government leaders. The WEF's roots stretch back to 1971 when its founder Klaus Schwab invited executives from European companies to the then tiny ski resort of Davos, high in the Swiss Alps. With climate change top of the agenda, chiefs of major energy companies are back after a COVID-related hiatus. Others include IMF Managing Director Kristalina Georgieva, European Central Bank chief Christine Lagarde, NATO General Secretary Jens Stoltenberg, President of the European Commission Ursula von der Leyen and Chinese Vice-Premier Liu He. Climate change topped the WEF's survey of global risk and energy company executives will mix with climate activists and environment ministers at the forum.

☆ Drug companies favor biotech meds over pills, citing new U.S. law
▼ + stars: | 2023-01-13 | by ( Deena Beasley | ) www.reuters.com time to read: +5 min

The pharmaceutical industry, whose members gathered in the thousands this week in San Francisco for the annual JP Morgan Healthcare conference, opposed the legislation and has begun implementing strategies to mitigate its impact. "In 10 years, we'll have far fewer small molecules being developed than we do today." He questioned the benefit of "rules that really just disincentivize investment in what ends up being convenient drugs, drugs for tough conditions like cancer and drugs that get really cheap when they go generic." Most medicines on the market today are small molecules, which can be taken by mouth, absorbed into the bloodstream and easily penetrate cell membranes. He noted it is not unusual for pharmaceutical companies to choose not to pursue a drug they once thought promising.

☆ JPMorgan says college-planning firm it bought lied about its scale. Consumers may have been misled, too
▼ + stars: | 2023-01-13 | by ( Annie Nova | ) www.cnbc.com time to read: +2 min

watch nowIn response, the FTC sent a warning letter to Frank, pointing out a number of claims on its website could be "unlawfully misleading consumers." Besides the problems flagged by government officials, higher education expert Mark Kantrowitz said he noticed other questionable claims made by Frank. At one point, the company said it could complete people's Free Application for Federal Student Aid, or FAFSA, in just four minutes. "If it's too good to be true, it probably is," Kantrowitz said. Student loan, financial aid help is available for free

☆ Trader Talk: Earnings are mostly about hopes for the second half
▼ + stars: | 2023-01-13 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

Earnings: It's all about the second half of 2023. Wall Street analysts agree, but they are expecting a much rosier outcome in the second half of the year. "The big question is, are the worst of the earnings estimate cuts for 2023 behind us?," Nick Raich from Earnings Scout told me. Big cap tech earnings: laggards (Q4 year over year earnings ests.) Analysts embrace 'tough first half, better second half' scenario All the hopes for earnings growth are now pinned on the back half of the year, when the Fed is expected to have halted its rate hike frenzy.

☆ Frank, the college loan start-up JPMorgan is suing for fraud, was warned by the FTC for misleading students about Covid relief money
▼ + stars: | 2023-01-13 | by ( Katherine Long | ) www.businessinsider.com time to read: +4 min

JP Morgan Chase has accused the student loan platform Frank and its founder Charlie Javice of inventing millions of fake customers to juice its value. In 2020, the Federal Trade Commission warned Frank that it "may be unlawfully misleading consumers" about student COVID relief. The company promised students help accessing the grant money, but all Frank was doing was generating a form letter students could send to university administrators. "We are concerned that Frank is creating false hope and confusion for students while contributing to unnecessary extra work for financial aid administrators," the representatives wrote. The advance wouldn't need to be paid back until "your aid comes in," the company wrote on its website.

☆ Ericsson's provision for U.S. probe hints of smaller fine, shares jump
▼ + stars: | 2023-01-12 | by ( ) www.reuters.com time to read: +2 min

Ericsson had in 2019 settled bribery allegations with U.S. authorities and agreed to be under review for three years. But it failed to fully disclose results of an internal investigation about potential payments to the Islamic State militant group in Iraq, leading to more regulatory scrutiny. Ericsson's announcement indicates that a resolution is nearer than the market expected, which removes much of the overhang to the investment case, Rosendal said. The Swedish telecom equipment maker said it believes its provision was based on a sufficiently reliable estimate of the financial penalty associated with any potential breach resolution. "The Company's internal investigation and its cooperation with authorities in relation to the allegations in the 2019 Iraq-related internal investigation report remain open and ongoing," Ericsson said.

☆ Ubisoft shares slump 20% after French video game maker warns on revenue
▼ + stars: | 2023-01-12 | by ( Dominique Vidalon | ) www.reuters.com time to read: +1 min

PARIS, Jan 12 (Reuters) - Shares in Ubisoft (UBIP.PA) fell 20% on Thursday after the French video game maker warned on revenue and postponed the release of its game "Skull and Bones", prompting analysts to cut their estimates and price targets. Late on Wednesday, Ubisoft said that it was increasing its writedown estimate to 500 million euros ($538 million) from 400 million and cutting its full-year revenue target after ending 2022 with weaker-than-expected sales. Several analysts noted that another negative factor was a shift in the video game industry towards mega-brands and away from small and mid-tier games. They reiterated their "market perform" rating on Ubisoft and cut their price target to 22 euros from 34 euros. Reporting by Dominique Vidalon, Pitr Lipinski; editing by Benoit Van Overstraeten and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

☆ Before JPMorgan accused Charlie Javice of inventing millions of fake customers, the Frank founder settled with the federal government over accusations she was misleading students
▼ + stars: | 2023-01-12 | by ( Katherine Long | ) www.businessinsider.com time to read: +5 min

Visitors to Frank's website could get the mistaken impression that the company was affiliated with the federal government, the Department of Education said in 2017. The Department argued that Frank's website was "likely to confuse consumers." The Department stated in a cease and desist letter that Frank could be misleading applicants looking for the government's official FAFSA website. On social media and elsewhere, Frank sometimes referred to the form as "Frank's FAFSA," according to the settlement. In numerous media interviews, including with Insider, Javice has cast herself as a mold-breaking entrepreneur.

☆ Traders don't want to believe the Fed, so get used to a lot of choppiness
▼ + stars: | 2023-01-10 | by ( Bob Pisani | ) www.cnbc.com time to read: +3 min

Then Fed officials get on the tape say they're going to keep raising rates and keep them high until hell freezes over. Atlanta Fed President Raphael Bostic on Monday said the central bank should raise interest rates above 5% and stay there for "a long time." Inflation data continues to show signs of cooling, but it's still high, and the Fed doesn't want to declare victory so they keep jawboning the markets down. The source of tension is that the trading community doesn't want to believe the Fed, and many are arguing the Fed is using stale data. "Wall Street does not believe the story being spun by the Fed," Harry Katica from Saut Strategy told his clients.

☆ Markets have returned to 'old era' of investing where fundamentals matter, says JPMorgan's Santos
▼ + stars: | 2023-01-05 | 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 EmailMarkets have returned to 'old era' of investing where fundamentals matter, says JPMorgan's SantosGabriella Santos, JP Morgan Asset Management global market strategist, joins 'Squawk Box' to discuss Santos' investing theme, how investors should prepare for long-term high rates and why Santos likes the bond market.

☆ Watch CNBC's full interview with J.P. Morgan's Gabriella Santos on portfolio resolutions for 2023
▼ + stars: | 2023-01-05 | 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 EmailWatch CNBC's full interview with J.P. Morgan's Gabriella Santos on portfolio resolutions for 2023Gabriella Santos, JP Morgan Asset Management global market strategist, joins 'Squawk Box' to discuss Santos' investing theme, how investors should prepare for long-term high rates and why Santos likes the bond market.

☆ Egypt's currency weakens more in wake of latest devaluation
▼ + stars: | 2023-01-05 | by ( Patrick Werr | ) www.reuters.com time to read: +4 min

The pound closed at 27.11 per dollar, according to the central bank, after fluctuating more than usual. Currency flexibility was a key component of the 46-month, $3 billion financial IMF package. After the central bank allowed the pound to depreciate sharply last March and October, it soon resumed trading within a band, moving only about 0.01 pounds per dollar per day. Egypt's pound and bondsHUGE BACKLOGDespite last year's devaluations a shortage of foreign currency has continued to hamper imports in recent months. Deutsche Bank said in a note that Wednesday's devaluation and an interest rate hike by the central bank last month "clearly show an approach to re-attract (structural) foreign inflows into local markets".

Reuters Graphics3/ RE-EMERGING MARKETSWhisper it, but the emerging markets (EM) bulls are back after 2022 delivered some of the biggest losses on record. Credit Suisse particularly likes hard currency debt and DoubleLine's Jeffrey Gundlach, AKA the "bond king", has EM stocks as his top pick. Economists polled by Reuters expect headline U.S. inflation to decelerate to 3.1% by the end of 2023. Valentine Ainouz, fixed income strategist at the Amundi Institute, predicts the 10-year U.S. Treasury yield will end 2023 at 3.5% from around 3.88% currently. Reuters Graphics5/ EQUITIES: SELL NOW, BUY LATEREquity investors hope a V-shaped year for the global economy will see stocks end it comfortably higher.

It might not be a surprise that the three biggest financial institutions in the US are Bank of America, Chase, and Wells Fargo. Compare Bank of America and Chase and Wells Fargo Bank of AmericaChaseWells Fargo Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Editor's Rating 3.5/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Standout feature Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Bank of America Advantage Savings Account Chase Savings℠ Wells Fargo Kids Way2Save Savings Account APY 0.01% to 0.04% 0.01% effective as of 10/10/2022. Bank of America, Chase, and Wells Fargo are all FDIC insured.

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