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☆ Tech stocks are still sliding after closing out their worst month of 2023
▼ + stars: | 2023-10-03 | by ( Ari Levy | ) www.cnbc.com time to read: +2 min

Tech stocks are following up their worst month of the year with a rough start to October as a spike in interest rates pushes investors out of risky assets. Like most tech stocks that were viewed as growth engines during the Covid-19 pandemic, Airbnb rallied in 2021 — just after its Nasdaq debut — and then sank last year. It has bounced back in 2023 but rising interest rates and ongoing concerns about high energy prices and the potential for a recession have investors rotating out of the stock of late. Among mega-cap tech stocks, Amazon suffered the steepest drop, falling 3.7% to $124.72. Amazon is coming off its worst month since February as the company faces the potential of a disappointing holiday shopping season and a massive antitrust lawsuit from the Federal Trade Commission.

Persons: it's, Airbnb, — Organizations: Nasdaq, KeyBanc, Treasury, Federal Reserve, Amazon, Federal Trade Commission, Microsoft, Meta

☆ KeyBanc raises Nvidia price target, sees more than 65% upside
▼ + stars: | 2023-10-03 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +1 min

A shift toward higher-priced graphics processing units could further boost shares of Nvidia , according to KeyBanc. The firm raised its price target on the semiconductor maker to $750 from $670, implying a potential upside of 67% from Monday's close. Nvidia has been the poster child for this year's artificial intelligence-fueled run, rallying more than 200% during that time. NVDA YTD mountain NVDA ytd chart "We are seeing improving demand trends in smartphones, where multiple supply chain partners are seeing rush orders, and in PCs, where 3Q PC shipments are slightly better. Although near-term supply remains tight for Nvidia, Vinh still sees moderate upside to the firm's estimates given capacity expansions and strong demand for its L40S graphics processing unit.

Persons: KeyBanc, John Vinh, Vinh, — CNBC's Michael Bloom Organizations: Nvidia Locations: Monday's, Evs, 2H24, 4Q24

For Drock, a lobbyist who lives in Washington, DC, and his wife, the road to a $1 million net worth by 35 was littered with trade-offs. Drock told Insider there are three lifestyle tradeoffs that have had an outsized impact on his and his wife's ability to build wealth. "When I first asked her to consider moving, she literally cried," Drock wrote in a blog post. It turned out to be a "key decision for our financial life," he said. Their combined income stands at $300,000 a year, "which still seems surreal to me," Drock wrote on his blog.

Persons: Drock, Drock's, Read, they've, we've Locations: Washington ,, Mint, Europe

☆ KeyBanc downgrades Airbnb, says travel demand will ease after pandemic recovery
▼ + stars: | 2023-10-03 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

It's time to step to the sidelines on shares of Airbnb as the Covid-19 pandemic recovery bump fades, according to KeyBanc Capital Markets. ABNB 1D mountain Airbnb "Our call is that leisure travel has experienced a material recovery from 2021-2023E, resulting in outsized margin expansion, " Patterson wrote in a Monday note. "As these tailwinds fade, we see elevated risk to [room nights and experiences] and [average daily rate] growth." Airbnb has outperformed this year as a resilient consumer shelled out money for travel and experiences. "We believe this could create an overhang on shares as ABNB transitions from a growth to GARP investor base," Patterson said.

Persons: Justin Patterson, Patterson, Airbnb, — CNBC's Michael Bloom Organizations: KeyBanc, Markets Locations: Airbnb, New York City

It needs to translate into changes in economic outcomes," Bostic said in comments to reporters. "I don't think the degree of response to date has been out of bounds" of what would happen "in an ordinary tightening cycle." But even though he agreed that recent jumps in long-term yields have been unusual, Bostic joined several of his colleagues in downplaying their relevance to policy - at least so far. "There is a lot going on and I cannot say I have all the answers," Bostic said. The things we are looking at is the pace at which the economy slows," not the rates themselves.

Persons: Federal Reserve Bank of Atlanta Raphael, Bostic, Clodagh, Raphael Bostic, Howard Schneider, Paul Simao Organizations: Federal Reserve Bank of Atlanta, REUTERS, Rights, Treasury, Atlanta Fed, Thomson Locations: Dublin, Ireland, U.S, China

☆ Why we 'know we have to buy something' in this oversold market
▼ + stars: | 2023-10-03 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a Morning Meeting livestream at 10:20 a.m. That means "we know we have to buy something because of our discipline," Jim Cramer said Tuesday. "There are a lot of reasons to buy Amazon," Jim said Tuesday. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Emerson, it's, KeyBanc, Jim, Jim Cramer's Organizations: CNBC, Labor, Nasdaq, Emerson UBS, Emerson, Amazon JPMorgan, JPMorgan, Amazon Web, U.S . Federal Trade Locations: midmorning

☆ Here are Tuesday's biggest analyst calls: Nvidia, Rivian, Amazon, Airbnb, Warby Parker, HP, FedEx and more
▼ + stars: | 2023-10-03 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Here are Tuesday's biggest calls on Wall Street: KeyBanc reiterates Nvidia as overweight KeyBanc raised its price target on Nvidia to $750 per share from $670 and said it sees "outsized growth." Bank of America adds FedEx to the US1 list Bank of America added the stock to its top picks list. "Upgrading Clean Energy Fuels (CLNE) from Outperform to Strong Buy, with the company on the cusp of ramping up in-house RNG production." JPMorgan reiterates Amazon as a top pick JPMorgan said ignore the noise and buy the dip in shares of Amazon. Bank of America initiates Dycom as buy Bank of America said in its initiation of the telecommunications infrastructure company that it's uniquely positioned.

Persons: KeyBanc, Ally, Evercore, bode, Stifel, Churchill, CHDN, Raymond James, Baird, Vestis, Piper Sandler, Tesla, IBKR, Morgan Stanley, Rivian, it's, Warby Parker, Booz Allen Hamilton, Goldman Sachs, Wedbush Organizations: Nvidia, Aclaris Therapeutics, ISI, Citi, Arista Networks, Arista, " Bank of America, FedEx, Bank of America, FedEx Corp, Owl Capital, Swift Transportation, Evercore ISI, TAM, Energy Fuels, JPMorgan, FTC, DOJ, HP Inc, underperform Bank of America, HPQ, UBS, Booz, of America, Emerson Electric, Warner Music Group, Apple, Constellation Brands Locations: China, CY23

☆ Make these 9 investments now to capitalize on volatility and investor fears, according to a manager behind a top-7% fund in the last 15 years
▼ + stars: | 2023-10-01 | by ( James Faris | ) www.businessinsider.com time to read: +10 min

Criticisms of small caps abound, though Hartman doesn't see any of them as valid reasons to ignore the group entirely. But to Hartman, those perceived flaws can actually be sound reasons to invest in small caps. "In the small-cap and micro-cap market, there's a lot of volatility," Hartman said in a recent interview with Insider. The small-cap fund also seemingly has no limit on the number of stocks it can hold. Investors can play the industrials sector with commercial aerospace stocks, Hartman said.

Persons: Brendan Hartman, Royce, Hartman, there's, It's, aren't, Russell, Garrett, Modine, he's, Garrett Motion Organizations: Opportunity, Microsoft, Haynes International, VSE Corp, Modine Manufacturing, Honeywell Locations: Taiwanese, industrials

☆ McCarthy tells Republicans threatening to oust him to 'bring it' after House passes stopgap spending bill with mostly Democratic votes
▼ + stars: | 2023-09-30 | by ( John L. Dorman | ) www.businessinsider.com time to read: +2 min

Kevin McCarthy on Saturday forcefully defended House passage of a 45-day stopgap spending bill. The bill, if passed by the Senate, will fund the government through November and avert a shutdown. But the bill was backed by 209 Democrats and 126 Republicans, with 90 Republicans voting against the measure (only one Democrat voted against the bill). Funding for additional Ukraine aid and border security provisions were not included in the stopgap bill — which frustrated many Democrats and Republicans, respectively. AdvertisementAdvertisement"If someone wants to make a motion against me, bring it," the speaker said during an afternoon news conference.

Persons: Kevin McCarthy, McCarthy, —, Matt Gaetz Organizations: Senate, Service, Saturday, House, ultraconservative, Republicans, GOP, California Republican Locations: Florida, California

☆ What are zero-day options? Here's how they're taking over a key corner of the stock market and why they could pose a big risk
▼ + stars: | 2023-09-30 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

It's been one year since the CBOE launched zero-day options contracts and they're starting to take over the stock market. Zero-day options expire the same day they are issued and they now make up 50% of S&P 500 options activity. A new ETF has launched utilizing the options contracts, and with enough scale they could jolt the stock market in a big way. AdvertisementAdvertisementThere's a new options trading product that is taking over Wall Street, and it could ultimately pose a big risk for the stock market as it gains in scale. Defiance recently launched two ETFs that write puts via zero-day options on the S&P 500 and Nasdaq 100.

Persons: It's, —, CBOE, JPMorgan, JPMorgan's Marko Kolanovic Organizations: Service, JPMorgan, Nasdaq Locations: YOLO

☆ Stocks enter October in a 2-month correction as traders question the economy's resilience
▼ + stars: | 2023-09-30 | by ( Michael Santoli | ) www.cnbc.com time to read: +8 min

.SPX YTD mountain S & P 500 in 2023 The median stock in the index, though, is nearly 16% off its 52-week high and is flat year to date. The S & P also went nine straight sessions through Wednesday recording a lower low than the day before, something that had only happened a dozen times over the prior century, says SentimenTrader.com. But the raw numbers say the S & P 500 has dropped from 19.7-times the next 12 months' projection to 17.9-times in two months. The equal-weight S & P 500 is at 14.3-times forward earnings; it bottomed last October just under 13. The S & P 500's annualized total returns for the last three, five and ten years are all between 10-12%, slightly above the long-term average.

Persons: Bonds, Friday's, Johnson, handicapping, shutdowns Organizations: Federal Reserve, Treasury, Deutsche Bank, Target, American Express, Investment, CNN Locations: lockstep

☆ Europe is almost out of local olive oil supplies as extreme weather takes a toll on harvests
▼ + stars: | 2023-09-29 | by ( Aruni Soni | ) www.businessinsider.com time to read: +3 min

Wildfires and extreme heat have damaged olive harvests in Europe, leading to shortages of olive oil. To keep up with demand, olive oil is being imported from South America. AdvertisementAdvertisementIn the past couple of years, extreme weather, wildfires and droughts have damaged olive tree harvests to the point where Europe is now almost out of local supplies of olive oil. To keep up with demand, European companies are importing olive oil from South America, a necessity that the world's top producer noted. Countries like Tunisia, Turkey and Syria have announced export bans on olive oil to protect the commodity from high international prices.

Persons: —, Kyle Holland, Walter Zanre, Filippo Berio, It's, haven't Organizations: Service, Guardian, International Olive Council, International Oil Council, Olive, US Department of Agriculture Locations: Europe, South America, Spain, Greece, Morocco, Italy, Tunisia, Turkey, Syria, Olive, Córdoba

☆ Steep wage hikes for union workers mark the 'final echo' of the inflation surge, Goldman Sachs says
▼ + stars: | 2023-09-29 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Wage increases for union workers don't signal a coming resurgence of inflation, Goldman Sachs said. "We instead see the recent wage gains for union workers as a lagging indicator — the final echo of last year's inflation surge," the strategists said. Goldman SachsIt's possible that recent wage gains could push overall wage growth slightly higher, but the ultimate impact will remain small, in Goldman's view. Goldman data shows the latest union wage gains averaged around 6%. "Unsurprisingly then, wage growth for union workers is a lagging rather than a leading indicator."

Persons: Goldman Sachs, —, Jan Hatzius, Goldman Organizations: Service, Writers Guild, Unions, American Airlines, United Auto Workers

☆ CNBC Daily Open: September is ‘likely to remain messy’
▼ + stars: | 2023-09-28 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Brendan McDermid | ReutersThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. What you need to know todayThe bottom lineSeptember's story hasn't changed: High yields and oil prices are dragging down stocks. Rising Treasury yields aren't the only costs weighing on the economy — oil prices are surging again. Even though September's already ending, things, as BTIG's Jonathan Krinsky puts it, "are likely to remain messy."

Persons: Brendan McDermid, Treasury inched, that's, John Chambers, September's, Jonathan Krinsky Organizations: HK, New York Stock Exchange, Reuters, CNBC, Treasury, hobbling, Federal, AAA, AA Locations: New York City, U.S

☆ A financially independent, 32-year-old options trader who started investing in high school shares 2 strategies that helped him return 25% a year on average for the past 5 years — and 52% in his best y
▼ + stars: | 2023-09-28 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +8 min

Erik Smolinski started working odd jobs, anything from splitting wood to selling Christmas trees, as early as 12. Since he started trading as a teen in 2007, he's only posted two negative years: his first two years. Setting a specific return goal also helps keep him focused during his red-hot years. He created detailed trading logs and plansAs an active trader, Smolinski believes that having both a trading plan and a trading log are essential. It's titled "Wealth Development and Trading Plan" and is broken out into various sections, including "strategy outlines."

Persons: Erik Smolinski, Smolinski, —, Mel, he's, that's, I'm, he'll Organizations: Apple, Netflix, Marine Corps Locations: San Diego, San Diego , California

☆ Target citing crime for closing stores shows retailers are fighting an uphill battle
▼ + stars: | 2023-09-27 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +7 min

Industry experts say even a small increase in crime can have massive, cascading effects that cause retailers to close stores. And stolen items can have an outsized impact on store profitability, considering the razor thin profit margins many large retailers typically operate at. “Increasing store crime is another variable in play right now for retailers,” said Zak Stambor, senior retail & ecommerce analyst with Insider Intelligence. Organized retail crimeAt issue is a particular type of store theft that loss prevention experts classify as “organized retail crime” or ORC. Last month, Dick’s Sporting Goods warned that retail theft was damaging its business and would lead to lower annual profits.

Persons: New York CNN —, ”, Burt Flickinger, Zak Stambor, Jane Roh, Shawn Kelly, TJ, they’re, Read Hayes, criminologist, ” Stambor, Hayes, “ Organizations: New, New York CNN, Strategic Resource, Insider Intelligence, eBay, Facebook, Pennsylvania Liquor Control, Police, CNN, Philadelphia, Attorney’s Office, “, GS, Cheltenham Plaza, Pennsylvania Liquor Control Board, Dick’s Sporting Goods, TJX Companies, TJ Maxx, Goods, Nordstrom, Foods, University of Florida, Prevention Research Council, Walmart, Target, National Retail Federation, ”, Walgreens Locations: New York, Los Angeles, Chicago, Philadelphia, Cheltenham, Wyncote, Montgomery County, San Francisco

☆ Immigrants and students fueled Canada's population jump in 2023, StatsCan says
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +2 min

Statscan had already announced the population grew by 2.9% in the 12 months to July 1, 2023 but Wednesday's release provided more details. "Canada continued to lead G7 countries for population growth and was likely among the top 20 fastest growing countries in the world," Statscan said in a news release. As of July 1, 2023, an estimated 2,198,679 non-permanent residents lived in Canada, a 46% jump from July 1, 2022. "This represents the largest year-over-year increase in the population of non-permanent residents ... since comparable data are available (1971/1972), with the increase in work and study permits accounting for most of the change," said Statscan. "Near-record rates of population growth can also contribute to outsized employment growth, that could put upward pressure on consumer demand and ultimately drive further price increases," he said in a note.

Persons: Christinne, Statscan, Marc Desormeaux, Desjardins, David Ljunggren, David Gregorio Our Organizations: REUTERS, Rights, Statistics, Liberal, Thomson Locations: Montreal, Quebec, Canada, Statistics Canada, Canadian

Home prices rose 0.6% in July, holding their own amid high mortgage rates and a low supply of houses for sale, according to the S&P CoreLogic Case-Shiller Index released on Tuesday. On an annual basis, the national index is now up 1% from a year ago. “Areas in the Midwest continue to lead the national gains given their relative affordability. Markets that saw home prices reset following the recent surge in mortgage rates are expected to see stronger gains over the next 12 months, particularly those in the West,” Hepp added. While mortgage rates that have recently topped 8% for a 30-year fixed rate loan are dampening demand, a shortage of homes for sale is keeping prices high.

Persons: ”, Craig J, Lazzara, ” Selma Hepp, ” Hepp, Today’s, Danielle Hale, “ Locations: Chicago, Cleveland, New York

U.S. President Joe Biden joins striking members of the United Auto Workers (UAW) on the picket line outside the GM's Willow Run Distribution Center, in Bellville, Wayne County, Michigan, September 26, 2023. Democrat Biden traveled to a Belleville, Michigan, parts distribution center owned by General Motors (GM.N), and joined dozens of picketers outside. Auto company sources said Biden's support for a 40% pay hike may make it harder to reach a compromise with the UAW. Calling Biden's visit a "historic moment in time," Fain accused CEOs of taking the profits and leaving workers to "fight for scraps." Biden's Michigan visit represents the most support a sitting president has shown striking workers since Theodore Roosevelt invited striking coal workers to the White House in 1902, historians said.

Persons: Joe Biden, Evelyn Hockstein, Donald Trump, Democrat Biden, Biden, you've, Trump, Tesla, Elon Musk, autoworkers, Shawn Fain, Fain, Biden's, Dave Urban, Ronald Reagan, Jason Miller, Theodore Roosevelt, Jeff Mason, Nandita Bose, Jarrett Renshaw, Nathan Layne, David Shepardson, Heather Timmons, Nick Zieminski, Matthew Lewis Organizations: United Auto Workers, UAW, REUTERS, Rights, Tuesday, Republican, Democrat, General Motors, Companies, U.S, Auto, Biden, Twitter, Secret Service, Drake Enterprises, AFL, EV, Trump, GM, Ford, Chrysler, Detroit, Washington, Democratic, Michigan, White House, Thomson Locations: Bellville, Wayne County , Michigan, Rights BELLEVILLE , Michigan, Michigan, Belleville , Michigan, Detroit, U.S, Pennsylvania, Wisconsin, Biden's Michigan, Washington, Philadelphia, Wilton , Connecticut

Striking United Auto Workers (UAW) union workers picket outside the Ford Michigan Assembly Plant in Wayne, Michigan, U.S., September 23, 2023. Striking auto workers say they would like to see more support from elected officials as they push to get companies to share more of the profits. Republicans believe Biden's push to electrify America's vehicle fleet, by pumping billions of dollars of tax rebates into EV manufacturing, is unpopular with auto workers. In Michigan, Trump will criticize Biden's economic policies and incentives promoting EVs and say he would do a better job of protecting blue-collar workers if elected to a second term, Miller added. Biden's Michigan visit represents the most support a sitting president has shown striking workers since Theodore Roosevelt invited striking coal workers to the White House in 1902, historians said.

Persons: Nalio Chery, Joe Biden, Donald Trump, Biden, Shawn Fain, Fain, Dave Urban, Brandon Cappelletty, Trump, Robert Bruno, Ronald Reagan, Jason Miller, Miller, Karen Finney, Finney, Theodore Roosevelt, Nandita Bose, Jarrett Renshaw, Nathan Layne, David Shepardson, Heather Timmons, Jamie Freed Organizations: United Auto Workers, UAW, Ford Michigan Assembly Plant, REUTERS, Rights, Republican, Biden, Trump, General Motors, Ford, Chrysler, University of Illinois, Michigan, EV, Democratic, White House, Thomson Locations: Wayne , Michigan, U.S, Dieu, Michigan, Wayne County , Michigan, Detroit, Toledo , Ohio, Pennsylvania, Wisconsin, Biden's Michigan, Kansas City

☆ China's economic situation isn't as dire as it seems, and policymakers in Beijing were just expecting too much, economist says
▼ + stars: | 2023-09-25 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

China's economy isn't doing as bad as it seems, according to economist Nancy Qian. But Beijing has been disappointed due to outsized expectations for economic growth. Though it's weighed down by a bloated property sector and looming demographic problems, China's economic growth actually clocked in at 6.3% year-over-year over the second quarter, according to the Organization for Economic Cooperation and Development. That's the second-highest projected growth rate among countries tracked by the OECD, with the US, by comparison, slated to grow just 2.2% this year. AdvertisementAdvertisement"But is China's economy really in dire straits?

Persons: Nancy Qian, it's, That's, Qian Organizations: Service, Organization for Economic Cooperation, Development, OECD, Northwestern University, Northwester's, Research Lab, China Econ, Syndicate, Japan Locations: Beijing, Wall, Silicon, China, Italy, Spain, Sweden

☆ More than 6 in 10 say they disapprove of Biden's handling of immigration at the US-Mexico border
▼ + stars: | 2023-09-24 | by ( John L. Dorman | ) www.businessinsider.com time to read: +3 min

Biden continues to struggle with voters over his handling of immigration at the US-Mexico border. A new Washington Post-ABC News poll showed that 62% disapproved of his efforts on the issue. Biden's relationship with NYC Mayor Eric Adams has noticeably cooled as the city struggles to house migrants. In a newly released Washington Post-ABC News poll, only 23% of registered voters approved of Biden's handling of immigration at the southern border, compared to 62% of respondents who disapproved. AdvertisementAdvertisementIn February, 28% approved of Biden's handling of immigration, compared to 59% of respondents who disapproved, a reflection of the administration's continued struggles on the issue.

Persons: Biden, NYC Mayor Eric Adams, Joe Biden, Donald Trump, Greg Abbott of, Biden —, United States —, Eric Adams, Adams Organizations: Washington Post, ABC, NYC Mayor, Service, Republican Gov, Democratic, New York City Locations: Mexico, Wall, Silicon, Greg Abbott of Texas, Chicago, Los Angeles, New York, United States, Manhattan

☆ This Southern city is the No. 1 place to start your own business
▼ + stars: | 2023-09-24 | by ( Jennifer Liu | In Jljenniferliu | ) www.cnbc.com time to read: +4 min

The home of mega-corporations like Coca Cola and Delta Airlines is also the best place to start your own business, according to new LinkedIn data. 1 U.S. metro area with the fastest year-over-year growth, 92%, in people founding their own companies, per the job search site. 1 place for young professionals to start a career, according to a report from Wallethub, based on metrics like availability of jobs, average starting salary, unemployment rate, median annual income, housing affordability and family-friendliness. Elsewhere in the country, the only representative for Silicon Valley — San Francisco — comes in at No. "Though the San Francisco Bay Areas remains one of the world's leading places for tech startups, it's possible or perhaps likely that smaller 'Main Street' businesses aren't opening at a nation-leading pace," Anders says.

Persons: Austin, George Anders, LinkedIn's, Anders, San Francisco —, that's, Donna Kelley Organizations: Coca, Delta Airlines, Fox, Seattle, metros, LinkedIn, Atlanta, Atlanta Austin , Texas Seattle San, Atlanta Austin , Texas Seattle San Francisco Chicago Boston, Fort Lauderdale, Fort Lauderdale New York City Los Angeles Denver, San, Global Entrepreneurship Monitor, The Washington Post . Entrepreneurship, Babson College, Washington Post, CNBC Locations: Coca Cola, Atlanta, U.S, Wallethub, pricey, San Francisco and New York, Atlanta Austin , Texas, Atlanta Austin , Texas Seattle San Francisco, Atlanta Austin , Texas Seattle San Francisco Chicago Boston Miami, Fort Lauderdale New York, Fort Lauderdale New York City Los Angeles Denver Atlanta, Austin, Silicon, San Francisco, San Francisco Bay, New York City, Los Angeles, Chicago, Miami, United States, Montana

☆ 'There's a significant number of upside opportunities': A top-3% fund manager shares 9 of his favorite investments to make now — and why China's economy is in big trouble
▼ + stars: | 2023-09-23 | by ( James Faris | ) www.businessinsider.com time to read: +8 min

Leading fund manager Mark Costa operates in one of the toughest parts of global markets: the foreign small- and mid-cap value category. In the past decade, his Brandes International Small Cap Value Fund (BISAX) has outperformed 91% of its peers despite logging a modest 4.8% annual return in that span. Of the 11 years that Costa has co-managed the fund, 2023 is shaping up to be one of the best. His foreign-focused small-cap value fund is up 25.3% year-to-date compared to 6% for its index, which puts it in the top 3% of its category, according to Morningstar. The best opportunities Costa sees in Japan are in its regional banking and healthcare industries.

Persons: Mark Costa, he's, Brandes, Costa, Morningstar, Costa wasn't, we've, Yue Yuen, We've, they've Organizations: Costa, Value, PAX, Companies, Royce, C Locations: China, it's, Hong Kong, Indonesia, People's Republic, Europe, Japan, United Kingdom

Daibes is now a key figure in a sweeping bribery case brought against Menendez, his wife and multiple other associates. Menendez, according to the indictment, then badgered both Sellinger and the prosecutor who had been put in charge of Daibes case, calling them several times. Menendez also asked one of his political advisors to let Sellinger know he was upset with the way the Daibes case was being handled, according to the indictment. Last year, following a delayed trial, Daibes pleaded guilty in his bank fraud case. But his sentencing has been repeatedly delayed and is now scheduled to take place next month.

Persons: —, Sen, Bob Menendez, Philip Sellinger, Sellinger, Menendez, Fred Daibes, Daibes, ”, Tim Donohue, ” Daibes, James Delaney, “, Delaney's, Bridget Delaney, Joe Biden, Nadine, David Schertler, Nadine Menendez, ” Sellinger, Menendez's Organizations: Attorney, U.S, Edgewater, New, Commission of Investigation, Associated Press, Department of Justice, New Jersey U.S, Attorney’s Locations: New Jersey, Daibes, Egypt, Manhattan, U.S, Hudson, Edgewater , New Jersey, Union City, Edgewater, ”, Newark

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