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"While it appears to be a hot number on the actual number of people employed, the wage rate is not increasing as fast," said Kim Forrest, chief investment officer at Bokeh Capital Partners in Pittsburgh. The data brought relief to investors who mostly expect the Fed to pause hiking rates at its policy meeting on June 13-14. But some pointed to the much hotter-than-expected jobs data as a sign the Fed still has not yet tamed inflation. All 11 S&P 500 sectors advanced, with the materials index (.SPLRCM) leading, up 3.4%, and the consumer discretionary sector (.SPLRCD), housing Amazon, close behind, rising 2.2%. The S&P 500 posted 15 new 52-week highs and two new lows; the Nasdaq Composite recorded 74 new highs and 40 new lows.

Persons: Kim Forrest, Phil Orlando, Nobody’s, Michael Landsberg, Herbert Lash, Shreyashi Sanyal, Shristi, Shashwat Chauhan, Nivedita Bhattacharjee, Maju Samuel Organizations: Amazon, Nvidia, Reserve, Labor Department, Bokeh Capital Partners, Fed, Federal Reserve, Federated Hermes, Reuters Graphics Reuters, Dow Jones, Nasdaq, Dow, Verizon Communications Inc, T Inc, Mobile US Inc, Inc, U.S, Verizon, Mobile, Nvidia Corp, Landsberg Bennett, Wealth Management, NYSE, Thomson Locations: Washington, Pittsburgh, New York, Punta Gorda , Florida, Bengaluru

☆ Why Goldman Sachs' John Waldron Flagged This 'Young, Talented' Banker
▼ + stars: | 2023-06-02 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

Goldman Sachs' COO, John Waldron, gave a speech on Thursday touting the firm's growth opportunities. The shoutout comes as Goldman Sachs joins its Wall Street peers by seeking to boost its wealth business that caters to the rich. Waldron on Thursday admitted that Goldman has "underinvested" in the private wealth business. Goldman's wealth business Goldman Sachs has about 1,000 advisors overseeing $1 trillion for its ultra-high net worth clients with at least $10 million to invest. The unit works closely with moneyed entrepreneurs, prime targets for Goldman's private wealth business.

Persons: Goldman, John Waldron, Nishi Somaiya, Goldman Sachs, David Solomon's, Nishi, We've, Waldron, Somaiya, Marc Nachmann Organizations: Oxford, Private, Silicon Valley Bank, UBS's, Credit Suisse, Bloomberg, University of Oxford, Royal Ballet School Locations: Silicon, Europe, Americas, SVB

☆ As Wall Street pushes valuations of AI companies into the atmosphere, America's small businesses are getting more 'AI curious,' survey shows
▼ + stars: | 2023-06-01 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

"Small businesses are AI-curious," American Express said about its survey of 550 small business leaders. "Small businesses are AI-curious," American Express said about the results of its recently released survey of 550 small business leaders. The survey, which ran in March, showed that 41% of small businesses are prioritizing AI to help them make decisions. The findings come as Wall Street is in the midst of an investment frenzy set off by last year's introduction of natural-language chatbot ChatGPT. But AI stocks have jumped so much that some on Wall Street think it's time to reduce risk and capture some profits.

Persons: —, Michael Landsberg Organizations: Express, Service, Nvidia, Big Tech, Google, Microsoft, Landsberg Bennett, Wealth Management

☆ Parts of the market are getting pricey. But analysts like these 4 cheap stocks
▼ + stars: | 2023-05-30 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

But only a few stocks — namely mega-cap tech — are responsible for most of the gains , according to analysts. Some analysts, however, believe some parts of the markets are still worth buying. Stock picks In fact, some analysts and portfolio managers recently named stocks that are still cheap, including some in the tech sector. "What's not cheap — our growth stocks and tech stocks and they've had a massive rally here … And those stocks are trading at multiples of in excess of 30 times earnings," he told CNBC's "Street Signs Asia" last week. Look at what's out of favor — value stocks, and particularly cyclical stocks."

☆ How much of A.I. is just hype? A bull and a bear share their tips on how to invest
▼ + stars: | 2023-05-29 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

But it's also had its detractors , and some analysts have warned of the risks of investing in AI. One example is Meta, which has jumped over 100% this year partly as a result of its pivot from the metaverse to AI, Dietze said. How to invest Dietze and Ware agree on one thing: Avoid investing in pure-play AI companies. For such larger tech companies, AI is only going to be a small part of total revenues and profits — so it's safer, although returns will be more muted, he said. Ware added, "Forget making bets on 'pure play' AI companies with no earnings, no moat, and now [higher] costs of capital.

☆ Should investors buy into A.I? Watch the bull versus bear case
▼ + stars: | 2023-05-29 | 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 EmailShould investors buy into A.I? Watch the bull versus bear caseJason Ware of Albion Financial Group and David Dietze of Peapack Private Wealth Management discuss the bull and bear case for investing in artificial intelligence, and how to play the trend, including stock picks.

☆ The tech trade is back, driven by A.I. craze and prospect of a less aggressive Fed
▼ + stars: | 2023-05-26 | by ( Ari Levy | ) www.cnbc.com time to read: +5 min

Patrick T. Fallon | Bloomberg | Getty Imageswatch nowTo start the year, the main theme in tech was layoffs and cost cuts. But investors have shifted their focus to AI now that companies are showcasing real-world applications of the long-hyped technology. Google, meanwhile, is touting its rival AI model at every opportunity, and Meta CEO Mark Zuckerberg would much rather tell shareholders about his company's AI advancements than the company's money-bleeding metaverse efforts. The chipmaker, known best for its graphics processing units (GPUs) that power advanced video games, is riding the AI wave. The next three top gainers in the index are also tech companies: Meta, Advanced Micro Devices and Salesforce .

☆ Bank of America's Merrill names new leaders to head divisions
▼ + stars: | 2023-05-19 | by ( ) www.reuters.com time to read: +1 min

May 19 (Reuters) - Bank of America Corp's (BAC.N) investment and wealth management arm Merrill named insider Greg McGauley as the head of private wealth management, international and institutional, Merrill said on Friday. Merrill offers investment management services to its clients including, wealth planning, insurance, retirement and savings planning. McGauley joined Merrill in 1994 and has held several senior roles at the company, including leading private wealth services. Lydia DiClemente was also named as the head of Merrill Banking Enablement and Merrill Financial Solution Advisors. DiClemente, who has more than 20 years of experience in the wealth management industry, will also work in partnership with April Schneider, the head of wealth management banking and lending.

"Markets reacted positively because they saw the inflation data as a small positive," said Michael Harris, president at hedge fund Quest Partners LLC. The rate-sensitive S&P 500 technology sector index (.SPLRCT) went up 1.22% and the communication services (.SPLRCL) rose 1.69%. REUTERS/Brendan McDermidIndexes were choppy during the session, as investors digested the positive inflation print with concerns about the looming debt ceiling. Advancing issues outnumbered decliners on the NYSE by a 1.32-to-1 ratio; on Nasdaq, a 1.40-to-1 ratio favored advancers. The S&P 500 posted 18 new 52-week highs and 11 new lows; the Nasdaq Composite recorded 86 new highs and 152 new lows.

The Labor Department's Consumer Price Index (CPI) rose 4.9% in April from a year ago and compared with expectations of a 5% increase. The lower-than-expected inflation data drove the Nasdaq Composite Index (.IXIC) up as much as 1.17% to its highest intraday level in more than eight months. The rate-sensitive S&P 500 technology sector index (.SPLRCT) rose 0.82%, while communication services (.SPLRCL) was up 1.21%. Declining issues outnumbered advancers on the NYSE by a 1.17-to-1 ratio; on Nasdaq, a 1.03-to-1 ratio favored advancers. The S&P 500 posted 14 new 52-week highs and 11 new lows; the Nasdaq Composite recorded 71 new highs and 135 new lows.

☆ Family offices move to 'risk on' with plans to load up on stocks, private credit
▼ + stars: | 2023-05-08 | by ( Robert Frank | ) www.cnbc.com time to read: +2 min

At a time when many investors are pulling back, family offices are moving into "risk on" mode, with plans to buy more stocks and alternative investments this year, according to a new survey. Nearly half (48%) of family offices plan to buy stocks this year, according to Goldman 2023 Family Office Investment Insight Report. "Family offices, for the most part, are really risk-on for the next 12 months," said Meena Flynn, co-head of Global Private Wealth Management at Goldman. The family offices surveyed have 12% of their assets in cash, slightly higher than 2021 levels. "The concept of staying invested is very important to the family office community.

☆ An investment chief who manages $1 billion in assets shares 10 investments that will reduce your portfolio's volatility while this bear market lasts longer than expected.
▼ + stars: | 2023-05-03 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

Here are 10 ways to protect against losses and volatility in this long-lasting bear market. "It went beyond dodging a bullet," Steve Sosnick, the chief strategist at Interactive Brokers, said of first quarter earnings results in a late April interview with Insider. Weaker earnings raise valuation concernsBut some investors aren't impressed by Q1 earnings — at least not enough to get bullish. Besides weaker earnings growth and lofty valuations, another risk for stocks is that upcoming quarterly results will miss higher expectations in a shaky economy. "We're still looking at fairly high-single-digit earnings growth for the next couple of quarters overall," Sosnick said.

☆ Factbox: JPMorgan's deal for collapsed First Republic explained
▼ + stars: | 2023-05-01 | by ( ) www.reuters.com time to read: +2 min

May 1 (Reuters) - JPMorgan Chase & Co (JPM.N) will buy most of First Republic Bank's (FRC.N) assets in a last-ditch rescue led by U.S. regulators, marking the third major U.S. institution to fail in two months. The deal, announced early on Monday as regulators seized First Republic, will see the largest U.S. bank acquire $173 billion of loans, $30 billion of securities and $92 billion of deposits of the failed lender. Highlights from a presentation to investors by JPMorgan:Key terms:* JPMorgan Chase will pay $10.6 billion to the Federal Deposit Insurance Corp (FDIC)* Will not assume First Republic's corporate debt or preferred stock* FDIC to provide loss share agreements with respect to most acquired loans* JPMorgan will repay $25 billion of deposits large U.S. banks made in First Republic in March and eliminate the $5 billion deposit it made on consolidation* Deal has received all regulatory approvals and has closedTransaction assumptions:* JPMorgan expects one-time gain of $2.6 billion post-tax at closing, not including expected restructuring costs of $2 billion over the course of 2023 and 2024* Estimated to add roughly $500 million to net income and be accretive to tangible book value per share* Says FDIC loss share agreements reduce risk weighting on covered loansPlan for integration:* First Republic branches and offices will open as normal* Plans to convert certain First Republic branches into new J.P. Morgan wealth centers* Failed lender's loan portfolios will be transitioned to JPMorgan Chase's business segments and technology systems* First Republic's private wealth management platform will become part of J.P. Morgan AdvisorsDue diligence:* JPMorgan says over 800 employees participated in the due diligence* Conducted comprehensive data room review including loan and deposit tapes* JPMorgan says loan portfolio marks supported by due diligence processReporting by Manya Saini in Bengaluru; Editing by Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

☆ EQT tries tricky private-market fundraising puzzle
▼ + stars: | 2023-04-20 | by ( ) www.reuters.com time to read: +2 min

LONDON, April 20 (Reuters Breakingviews) - When one pot of cash seems to be running low, it’s rational to seek another. That’s why EQT’s (EQTAB.ST) boss Christian Sinding is right to try raising money from rich individuals, rather than just institutions. The $24 billion Swedish private equity and real estate investor said alongside first-quarter results on Thursday that it was preparing fund structures for private wealth investors. This usually refers to people who are well-heeled but not deep-pocketed enough to have a dedicated private wealth management firm, a family office, looking after their money. EQT itself spooked shareholders in January, when it said that the fundraising for its new 20 billion euro EQT X vehicle was not happening as fast as analysts had predicted.

☆ Market veteran says we may be 'a long way from a new bull market' and shares what to buy and avoid
▼ + stars: | 2023-04-06 | by ( Zavier Ong | ) www.cnbc.com time to read: +3 min

That puts the index in a technical bull market — widely defined as a gain of at least 20% from a 52-week low. That outperformance is getting investors excited and is prompting talk that a new bull market is in the cards. But market veteran David Dietze said he believes the stock market is getting ahead of itself. "Others have trouble calling a market movement a new bull market until the market at least attains its prior all-time high point. How he's positioning For starters, he said, investors should remain invested in the stock market, despite the appeal of higher-yielding money market funds and short-dated Treasurys.

☆ I foresee energy coming back, says KKM Financial's Jeff Kilburg
▼ + stars: | 2023-03-20 | 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 EmailI foresee energy coming back, says KKM Financial's Jeff KilburgJeff Kilburg of KKM Financial and Katerina Simonetti of Morgan Stanley Private Wealth Management join CNBC's Jon Fortt and the 'CNBC Special: Taking stock' to discuss the markets, their short-term outlooks and strategy for investing now.

☆ First Republic just got a $30 billion lifeline from JPMorgan and other Wall Street giants. Here's why its problems aren't over.
▼ + stars: | 2023-03-16 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +5 min

JPMorgan and 10 other banks are depositing $30 billion in First Republic Bank. A white knight has arrived to First Republic Bank's rescue. A consortium of America's biggest banks including JPMorgan Chase, Morgan Stanley, and Goldman Sachs are depositing a collective $30 billion in First Republic. This $30 billion lifeline may not be enough to reassure investors and depositors, and it may be a stopgap measure before a sale. The $70 billion lifeline from JPMorgan announced on Sunday did little to quell investors' concerns, Dahiya noted.

☆ Strategists say it’s a stock picker’s market right now — and name their top picks
▼ + stars: | 2023-03-08 | by ( Zavier Ong | ) www.cnbc.com time to read: +3 min

Against this backdrop, a slew of strategists are calling it a stock picker's market and advising investors to be particularly mindful of the companies they invest in. "You really do need to have discipline, but this is definitely a stock picker's market. The SOXX, which offers investors exposure to a basket of U.S.-listed semiconductor stocks, is up more than 20% this year. She believes the current macro backdrop is a "stock picker's scenario" that calls for "an active trading environment." The stock has a current dividend yield of 2.7%, higher than the industry average of 0.8%, according to FactSet data.

☆ Veteran investor says we're in another bear market rally — and names the stocks to trade it
▼ + stars: | 2023-03-07 | by ( Zavier Ong | ) www.cnbc.com time to read: +3 min

Despite the volatility, the Dow Jones Industrial Average , S & P 500 , and Nasdaq Composite all remain in positive territory — but market watchers are divided on whether this is the start of a new bull market or just another bear market rally. Michael Landsberg, partner and chief investment officer at Landsberg Bennett Private Wealth Management, is firmly in the latter camp. Several risks remain in the market, according to Landsberg. For example, short-duration fixed income is an "attractive" area of the market right now, according to Landsberg. One sector that Landsberg is avoiding is "profitless tech," as he believes earnings in the sector will continue to decelerate.

☆ Wall Street pros name the biggest risk to stock markets — and how to trade it
▼ + stars: | 2023-03-06 | by ( Zavier Ong | ) www.cnbc.com time to read: +3 min

Top of mind, however, is undoubtedly the path of interest rate hikes, with market pros nervously looking to the Federal Reserve's next rate decision on Mar. Anastasia Amoroso, chief investment strategist at iCapital, believes the "biggest market risk" right now is the Fed raising the terminal rate to a range of 6% to 6.5%. One obvious area fixed income, with Ma Yung-Yu, chief investment strategist at BMO Wealth Management, calling the asset class a "welcome relief and benefit to the portfolio." David Dietze, managing principal at Peapack Private Wealth Management, believes investors should "stay the course" in stocks. He noted that stock prices are "off their highs" — and the market has never failed to rebound to new highs.

☆ US stocks end mixed as investors brace for Powell's testimony to Congress
▼ + stars: | 2023-03-06 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

Equities appeared in a holding pattern until Fed boss Jerome Powell delivers testimony about monetary policy this week. The 10-year Treasury yield edged higher after pulling back at the end of last week. "I think we'll be in a holding pattern until we get that nonfarm payrolls report," said Mayfield, referring to jobs report due out this Friday. "But I do think nonfarm payrolls could be interesting to see if there's a revision or not to the January number. The whole shift in the tone of markets started at the beginning of February when we got that January nonfarm payrolls number," Mayfield said.

☆ All investors need a worldview. Here's mine and how to think about developing your own
▼ + stars: | 2023-02-26 | by ( Jim Cramer | ) www.cnbc.com time to read: +23 min

You need to know what you think will happen and then you can insert stocks into that worldview. I think this view, which Jay cares and is most likely going to get it right, is fundamental to my worldview. I think that's an absurd tradeoff and those who are making it, those who own 10-year Treasurys, are sorely ill-advised. Fortunately, I don't think the Fed has to go that far to break the trio. The companies you think might not make it I think aren't going to make it because they won't be able to raise cash.

☆ Time to buy the tech rally? Wall Street pros weigh in with their top stock picks
▼ + stars: | 2023-02-06 | by ( Zavier Ong | ) www.cnbc.com time to read: +6 min

Investors are flocking back into tech, after shunning the sector for the better part of 2022 amid broad risk-off sentiment. The tech-heavy Nasdaq Composite has been the best-performing Wall Street index in 2023, having gained about 15.6% since the start of the year. This could be the rebound," Wang told CNBC's "Street Signs Asia" on Thursday. " Some 87% of analysts covering the stock rate it a "buy," according to FactSet data, and give it average upside of 10.3%. Christopher Crawford, managing partner at Crawford Fund Management, told CNBC's "Street Signs Asia" on Tuesday that his firm is overweight tech "for the first time in our 10-year history."

☆ Jeff Erdmann has been the best wealth advisor in the US for 7 years running. The Merrill Lynch pro told us how he's keeping clients' money safe with a recession on the way.
▼ + stars: | 2023-01-31 | by ( Marley Jay | ) www.businessinsider.com time to read: +4 min

Forbes has named Jeff Erdmann the best wealth manager in the US every year since 2016. Erdmann's group at Merrill Private Wealth Management oversees $14 billion in assets. Erdmann, who is coming up on his 40th year at Merrill Private Wealth Management, has been named the best wealth manager in the country by Forbes every year since 2016. In stocks, Erdmann says he remains committed to dividends and dividend growth. Erdmann says allocating to the right sectors is vital, and right now, it's not clear what parts of the market offer the best long-term opportunities.

☆ Watch CNBC's full interview with Alli McCartney and Darrell Cronk
▼ + stars: | 2023-01-30 | 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 Alli McCartney and Darrell CronkAlli McCartney, UBS Private Wealth Management Managing Director, and Darrell Cronk, Wells Fargo CIO for wealth & investment management, join 'Squawk on the Street' to break down their thoughts on the market and Fed rate hike decision coming up this Wednesday.

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