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☆ 11 top tech stocks to buy for up to 41% upside as strong Q2 earnings spark another major rally
▼ + stars: | 2024-07-17 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

Few voices in markets have matched Ives' zeal for tech stocks in recent years. "The AI revolution is the strongest tech trend we've seen in 40 years," Ives said. "And anyone that thinks different will be proven wrong because the growth is so outsized in the tech sector." 11 tech stocks to buy nowWhile Wedbush is bullish about tech broadly, Ives and his colleagues are most excited about 11 stocks that are either exceptional tech giants or leading cybersecurity companies. Below are those 11 stocks along with the ticker, market capitalization, price target, and upside to that target for each.

Persons: —, Dan Ives, Ives, monetization Organizations: Service, Wedbush Securities, Business, Nvidia, Microsoft, Wall, Tech

☆ Sam Stovall sees double-digit correction – says rally gone too far and big caps expensive
▼ + stars: | 2024-07-17 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

The rotation trade likely won't save the S & P 500 from a double-digit correction ahead, according to Sam Stovall, chief investment strategist at CFRA Research. On the other hand, the mega-cap tech stocks have faltered. But Stovall is skeptical, saying he anticipates an S & P 500 pullback ahead, possibly in September, in the low double-digits. Expensive valuations Central to the strategist's concern is the overbought nature of large-cap tech stocks. Rotate into very attractive mid- and small-cap stocks or mid- and small-cap ETFs," Stovall said.

Persons: Sam Stovall, Stocks, Jerome Powell, Russell, Stovall Organizations: CFRA Research, Federal, Nvidia, CNBC Locations: Great

☆ Here are Tuesday's biggest analyst calls: Nvidia, Tesla, Meta, Shopify, Broadcom, IBM, Microsoft & more
▼ + stars: | 2024-07-16 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Tuesday's biggest calls on Wall Street: Morgan Stanley names Taiwan Semiconductor a catalyst driven idea Morgan Stanley said it said shares of the semis company have more room to run. " Morgan Stanley upgrades Chegg to equal weight from underweight Morgan Stanley said the risk/reward is balanced for the education company. Morgan Stanley upgrades Sweetgreen to equal weight from underweight Morgan Stanley said the restaurant chain's stock is starting to become compelling. Evercore ISI downgrades Yum and Starbucks to in line from outperform Evercore said in its downgrade of Yum and Starbucks that trends are softening. Evercore ISI reiterates Netflix as outperform Evercore said it's cautious heading into earnings later this week but that it's sticking with its outperform rating.

Persons: Morgan Stanley, Wolfe, it's, Jefferies, Wells, Goldman Sachs, Baird, Tesla, Bernstein, TD Cowen, Lamar, Cowen, Goldman, Piper Sandler, Piper, Evercore, IBM Evercore, Shopify, Jeff Hoffmeister, Mizuho downgrades Palantir, PLTR, Oppenheimer, we'd Organizations: Taiwan Semiconductor, Microsoft, Nvidia, Lamar Advertising, Nasdaq, TAM, Starbucks, Yum Brands, IBM, " Bank of America, of America, Mizuho, Bank of America, Broadcom, Evercore, Netflix, Bulls Locations: China

☆ Here are Monday's biggest analyst calls: Nvidia, Apple, Tesla, Microsoft, Amazon, Advanced Micro Devices and more
▼ + stars: | 2024-07-15 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Morgan Stanley reiterates Apple as overweight Morgan Stanley raised its price target on the iPhone maker to $273 per share from $216. Morgan Stanley downgrades BP to equal weight from overweight Morgan Stanley downgraded the oil major due to "weak earnings." Morgan Stanley reiterates Microsoft as overweight Morgan Stanley said it has "increased clarity" on AI monetization. Citi names KLA Corp. a top pick Citi raised its price target on the semiconductor equipment maker to $980 from $760. Morgan Stanley downgrades Rocket Lab to equal weight from overweight Morgan Stanley said it sees a "limited catalyst path" for the space company.

Persons: Morgan Stanley, Apple, Morgan Stanley downgrades, TD Cowen, Teck, Baird, CARR, Zeta, John Donovan, AAPL, Wells, Tesla, underperform Wells, it's, Evercore, it's bullish, DDOG Organizations: Netflix, Nvidia, Devices, AMD, Citi, Electronic Arts, College Football, BMO, Teck Resources, JPMorgan, Biosciences, Zeta Global, Citi downgrades Bank of New York Mellon, Bank, New York Mellon, Apple, IOL, Amazon, UW, CIO, Susquehanna, Caesars, MGM, PENN, Bank of America, KLA Corp, OW, Department of Defense Locations: 2H24, Dell, Teck, TSLA, Las Vegas

☆ China’s internet dominated by talk of Trump’s ‘luck’ and American ‘violence’ after attack
▼ + stars: | 2024-07-15 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +5 min

Discussion of the assassination attempt, in which a gunman opened fire at a Trump campaign rally in Pennsylvania on Saturday evening, dominated Chinese social media in the hours after the attack. Trump, who said he was shot in the ear, was declared safe following the incident. As shots rang out during his speech at the rally, the former president ducked to the ground and was covered by Secret Service agents. I bet (US President Joe) Biden would take ages to crouch down,” read one social media comment that got thousands of likes and appeared to allude to concerns about Biden’s age. There were also repeated links made between the attack and recurring instances of gun violence in the United States, which are often highlighted by Chinese state media as an example of the country’s failings.

Persons: Donald Trump, Trump, Trump’s, “, Joe, Biden, crouch, ”, Shinzo Abe, Xi Jinping “, ” Biden, …, what’s, “ Chuan, “ Trump Organizations: Hong Kong CNN, Trump, Weibo, Republican, Secret Service, China’s Ministry of Foreign Affairs, Trump . State, Beijing, Sunday, Global Times, Washington Locations: China, Hong Kong, Pennsylvania, United States, Weibo, Trump, ”, Beijing, Russia

☆ Mark Cuban worries algorithms will decide the president in 2024
▼ + stars: | 2024-07-15 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +1 min

Mark Cuban warned that social media algorithms could determine the president. "This is the first AI driven election season where policy and personalities mean nothing," he wrote. AdvertisementWill social media decide who becomes president? "This is the first AI driven election season where policy and personalities mean nothing and algorithms drive everything," Cuban wrote on X on Monday. Cuban argued that "narratives delivered by the algorithms" — whether factual or not — are now more important to voters than "actual events."

Persons: Mark Cuban, —, Cuban Organizations: Service, Business

☆ Here's the inflation breakdown for June 2024 — in one chart
▼ + stars: | 2024-07-11 | by ( Greg Iacurci | ) www.cnbc.com time to read: +6 min

They also generally like to examine "core" inflation readings. The monthly core CPI reading was 0.1% in June, the smallest increase in about three years, since August 2021. Shelter inflation has moderated much slower than expected, one of the big reasons inflation hasn't yet fallen back to target, economists said. There were encouraging signals in the latest CPI report: Monthly shelter inflation dropped to 0.2% after being stuck at 0.4% for four consecutive months. Services inflation is the trouble spotInflation for physical goods spiked as the U.S. economy reopened in 2021.

Persons: David Paul Morris, Mark Zandi, Zandi, Sarah House, Aubrey George, George, Joe Seydl, Olivia Cross Organizations: Bloomberg, Getty, U.S . Labor Department, Moody's, Wells, Wells Fargo Economics, U.S . Federal Reserve, CPI, Housing, of Labor Statistics, Morgan Private Bank, Capital Economics, BLS Locations: U.S, Wells Fargo, North America

watch nowHousing inflation has remained stubbornly high even as inflation in the broad U.S. economy has cooled significantly from peak levels during the pandemic era. At a high level, "shelter" inflation is a measure of U.S. rental prices, said Jessica Lautz, deputy chief economist at the National Association of Realtors. Why CPI shelter inflation has fallen slowlyThe pullback in shelter inflation has been slower than expected, economists said. How the CPI reflects homeownershipThe shelter inflation index is meant to measure the average cost of housing in the U.S. economy, J.P. Morgan's Seydl said. "When it comes to the CPI, [shelter] does not mean the cost for homes for purchase," said the NAR's Lautz.

Persons: Joe Seydl, Jessica Lautz, Olivia Cross, We've, Jerome Powell, Selma Hepp, Morgan's Seydl, Powell, Seydl Organizations: Morgan Private Bank, Housing, National Association of Realtors, of Labor Statistics, Capital Economics, Finance, Federal, CoreLogic, BLS, Olivia Cross North, Capital, CPI Locations: North America, U.S, Olivia Cross North America

☆ Microsoft's decision to give up OpenAI board observer seat doesn't quell key concerns
▼ + stars: | 2024-07-11 | by ( Hayden Field | ) www.cnbc.com time to read: +2 min

Microsoft CEO Satya Nadella (R) speaks as OpenAI CEO Sam Altman (L) looks on during the OpenAI DevDay event in San Francisco on Nov. 6, 2023. Microsoft has given up its observer seat on OpenAI's board. Apple , which was reportedly expected to take a similar observer position, will no longer pursue one, according to the Financial Times. "The timing of this move matters," Kak wrote in a message to CNBC. Kak told CNBC that regulators' pursuits are helping to get answers and deliver transparency.

Persons: Satya Nadella, Sam Altman, aren't, Amba Kak, Kak, Lina Khan Organizations: Microsoft, Apple, Financial Times, CNBC, Federal Trade Commission, FTC, Justice Department, Nvidia Locations: San Francisco

☆ Unscripted and Unbowed, Biden Seeks to Overcome Missteps With Policy Talk
▼ + stars: | 2024-07-11 | by ( Peter Baker | ) www.nytimes.com time to read: +1 min

Did President Biden really think that Donald J. Trump was his vice president instead of Kamala Harris? Did he actually believe that he was meeting with Vladimir V. Putin instead of Volodymyr Zelensky? But when it comes to his political future, did it matter that he mixed up those names in front of television cameras on Thursday? For nearly an hour, at the most anticipated news conference of his presidency, Mr. Biden held forth on the nation, the world and his political future. He demonstrated a grasp of the issues and seemed most comfortable during a long discourse on foreign policy.

Persons: Biden, Donald J, Trump, Kamala Harris, Vladimir V, Putin, Volodymyr Zelensky

☆ Here are Wednesday's biggest analyst calls: Nvidia, Apple, Netflix, Meta, Tesla, Eli Lilly, Walmart, Microsoft, Oracle & more
▼ + stars: | 2024-07-10 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

TD Cowen reiterates Meta as buy TD Cowen raised its price target on Meta to $600 per share from $530. Bank of America downgrades Visa & Mastercard to neutral from buy Bank of America said it sees "limited upside" for the payment stocks. Bank of America downgrades WK Kellogg to underperform from neutral Bank of America said it sees weakening industry trends for WK Kellogg. "We're initiating coverage of Bausch + Lomb (BLCO) with an Outperform rating and $19 price target." Bank of America initiates Composecure as buy Bank of America said it's bullish on shares of the metal payment card manufacturer.

Persons: Bernstein, Iris, it's bullish, Argus, Teva, Piper Sandler downgrades, Piper, Jefferies, Redburn, Goldman Sachs, Tesla, Goldman, Eli Lilly, Morgan Stanley, Needham, BTIG, it's, TD Cowen, Meta, WK Kellogg, Cobra Kai, Truist, Nomura, Raymond James, Bausch Organizations: Iris Energy, Walmart, Fox Robotics, Spotify, Oracle, Barclays, Microsoft, Citi, Quest, Bank of America, MKS, Southwest Citi, Southwest Airlines, Amazon, YouTube, Meta, " Bank of America, Visa, Mastercard, of America, SNAP, Netflix, Apple, Nvidia Locations: Mounjaro, Alaska, Southwest, underperform

☆ Archegos founder Bill Hwang convicted at criminal trial over fund's collapse
▼ + stars: | 2024-07-10 | by ( ) www.cnbc.com time to read: +4 min

Sung Kook (Bill) Hwang, the founder and head of the private investment firm Archegos, arrives at the Manhattan Federal Courthouse in New York City, U.S., July 9, 2024. The jury, which began deliberations on Tuesday, found Hwang guilty on 10 of 11 criminal counts and Patrick Halligan, his Archegos deputy and co-defendant, guilty on all three counts he faced. Hwang and Halligan sat flanked by their lawyers as the verdict was read by a soft-spoken foreperson. Hwang, 60, had pleaded not guilty to one count of racketeering conspiracy, three counts of fraud and seven counts of market manipulation. At its peak, prosecutors said Archegos had $36 billion in assets and $160 billion of exposure to equities.

Persons: Sung Kook, Bill, Hwang, Patrick Halligan, Halligan, Prosecutors, Andrew Thomas, Barry Berke, William Tomita, Scott Becker, Archegos Organizations: Archegos Capital Management, Prosecutors, U.S . Justice Department, U.S, Attorney's, Southern, of, Credit Suisse, UBS, Nomura Holdings Locations: Manhattan, New York City, U.S, of New York

☆ Forget AI: These 3 overlooked areas of the stock market have 'coiled spring' upside, JPMorgan says
▼ + stars: | 2024-07-09 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewInvestors are still overtaken by the frenzy for generative AI — but there are underappreciated areas of the market that could offer gains like "coiled springs," according to JPMorgan Asset Management. Related storiesBy the fourth quarter of 2024, JPMorgan expects earnings expansion for the other 493 S&P 500 stocks to match that of the Magnificent 7, a dynamic shown in the chart below. Earnings growth is expected to climb in the S&P 500, barring the Magnificent Seven stocks. These stocks are bound to see upside due to "unexpected resiliency" in the US economy and the rising need to transport materials.

Persons: —, Microsoft — Organizations: Service, Asset Management, Nvidia, Meta, Microsoft, Business, JPMorgan, JPMorgan Asset Management, Semiconductors

The relatively small town of Chasiv Yar has played an outsized role in the conflict and has been battered by months of intense fighting. The Russian Defense Ministry said on Thursday that its troops have taken over the easternmost district of Chasiv Yar. Medics prepare for transportation of a wounded Ukrainian serviceman inside a medical stabilization point near Chasiv Yar on July 1, 2024. Vadym Filashkin, the head of Donetsk regional military administration, said in May that some 679 civilians were still in Chasiv Yar, refusing to evacuate their homes. If Chasiv Yar was to fall to Russian hands, it could put bigger cities to the west at risk.

Persons: Chasiv Yar, Nazar Voloshyn, Ukraine’s, DeepState, Alina Smutko, Vadym Filashkin, ” Konrad Muzyka, Vladimir Putin, “ Chasiv Yar, ” Muzyka, Yar Organizations: CNN, Russian Defense Ministry, television, Kharkiv, “ Locations: Ukraine, Chasiv, Donetsk, Kramatorsk, Dnipropetrovsk, Chasiv Yar, Ukrainian, Kyiv, Moscow, ”, Russian, Russia

"We see softness in data — permits, starts, sales and prices all recently below expectations — potentially continuing in 2H," the analyst wrote. The bank initiated the health care tech stock with an overweight rating and a December 2025 price target of $24. "Waystar is a vertical, cloud-based software company focused on automating, digitizing, and enhancing revenue cycle management functions," wrote analyst Anne Samuel. Analyst Daniel Politzer reiterated his overweight rating on the casino and resort stock but lowered his price target to $58 from $60. The analyst wrote that he sees "the current valuation as an attractive entry point into what we view as one of the most durable companies in our coverage."

Persons: Piper Sandler, Mizuho, Piper Sandler downgrades CrowdStrike Piper Sandler, Rob Owens, Owens, CrowdStrike, Lisa Kailai Han, downgrades Goldman, Jim Mitchell, Goldman Sachs, Mitchell, Goldman, — Jesse Pound, Brandt Montour, Montour, VIK, — Hakyung Kim, Anthony Pettinari, Pettinari, — Lisa Kailai Han, Guggenheim, Tesla, Ronald Jewsikow, Keith Gill, Gill, he's, Kitty, Musk, Jewsikow, Waystar, Anne Samuel, Samuels, Jessica Reif Ehrlich, Ehrlich, Wells, Daniel Politzer, Politzer, GGR, WYNN est's, —, Mizuho Mizuho, James Lee, Lee, Fred Imbert Organizations: CNBC, Seaport, of America, downgrades Goldman Sachs Seaport Research, Bank of America, Barclays, Viking Holdings, American Baby Boomers, Citi, Federal, Securities and Exchange Commission, JPMorgan, Nasdaq, Spotify, Spotify Technology, Las Vegas, Vegas, Macau GGR, Intelligence, Amazon Locations: Amazon, SIEM, Lennar, 2H, Chewy, Europe, China, Las, Las Vegas Sands, Macau, Bay Sands, Singapore, Atlassian, Monday's

☆ AI images of Jesus are suspiciously handsome. We only have ourselves to blame
▼ + stars: | 2024-07-01 | by ( Aj Willingham | ) edition.cnn.com time to read: +9 min

Now, in the age of AI, Jesus can assume an infinite variety of roles with just a few keystrokes. While AI images of Jesus depict the Christian savior in innumerable situations, they often focus on his physical appearance as well. All of these handsome AI Jesus images are created from patterns a machine picks up from the information it is fed. Some AI images of Jesus contain inexplicable details that are neither Biblically nor historically informed. There are other complications that lead to the persistence of handsome AI Jesus.

Persons: Jesus Christ, Shepherd, Jesus, Instagram influencers, Jesus ’, ”, Brenda Sanderson, ” Sanderson, Michelangelo, Joseph Geefs, Geefs ’, Guillaume, “, Lucifer, Salustiano García Cruz, Saint Sebastian, Mary Magdalene, Morgan Haigh, Cristina Quicler, Christopher Framer, ” Framer, it’s Organizations: CNN, Facebook, St, Paul’s, BBC, Santa de Sevilla, Getty Locations: Liège, Belgium, Spanish, AFP, Petaluma , California

☆ Is the U.S. stock market too ‘concentrated’? Here’s what to know
▼ + stars: | 2024-07-01 | by ( Greg Iacurci | ) www.cnbc.com time to read: +6 min

David Paul Morris/Bloomberg via Getty ImagesThe U.S. stock market has become dominated by about a handful of companies in recent years. Some experts question whether that "concentrated" market puts investors at risk, though others think such fears are likely overblown. The so-called "Magnificent Seven" — Apple , Amazon , Alphabet , Meta , Microsoft , Nvidia and Tesla — make up about 31% of the index, it said. Why stock concentration may not be a concernThe S&P 500 tracks stock prices of the 500 largest publicly traded companies. When there were big market crashes, they generally don't appear to have been associated with stock concentration, he added.

Persons: Jensen Huang, David Paul Morris, Morgan Stanley, Charlie Fitzgerald III, John Rekenthaler, Rekenthaler, Elroy Dimson, Paul Marsh, Mike Staunton, We've, Goldman Sachs, Fitzgerald, Moisand Fitzgerald Tamayo, Charlie Fitzgerald Organizations: Nvidia Corp, Blackwell, Nvidia, Technology, Bloomberg, Getty, Microsoft, Tesla, U.S, Finance, Morningstar, Big U.S, Goldman, Goldman Sachs Research Locations: Orlando , Florida, U.S, Switzerland, France, Australia, Germany, South Korea, United Kingdom, Taiwan, Canada

☆ Here are our top 3 and bottom 3 stocks during a divergent second quarter
▼ + stars: | 2024-06-30 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

The Nasdaq was the big winner of the second quarter, adding 8.26% over the past three months thanks to an artificial intelligence-powered tech rally. Best Performers NVDA YTD mountain Nvidia YTD Nvidia continued to be the top-performing stock in the portfolio for the second quarter in a row, gaining 36.73%. AAPL YTD mountain Apple YTD The second big winner was Apple , which rose 22.82% in Q2. Worst Performers EL YTD mountain Estee Lauder YTD Estee Lauder was the worst name of the second quarter for the Club portfolio, losing 30.98%. DIS YTD mountain Disney YTD The second worst performer was Disney , which dropped 18.85% in April through June.

Persons: Dow, Blackwell, Jensen Huang, Lauder YTD Estee Lauder, Disney, Nelson Peltz, Disney's, Decker, Stanley Black, Jim Cramer's, Jim Cramer, Jim, Eduardo MunozAlvarez Organizations: Dow Jones, Nasdaq, CNBC, Club, Nvidia, Management, Apple, Apple Intelligence, iPhone, Broadcom, Investors, Asia Travel, DIS, Disney, Federal, Jim Cramer's Charitable, Corbis, Getty Locations: U.S, China, Asia, India, Square

☆ S&P 500 returns 15% in the first half in an unusually smooth ride
▼ + stars: | 2024-06-29 | by ( Michael Santoli | ) www.cnbc.com time to read: +8 min

A 15% year-to-date total return in the S & P 500 is the 21 st best run through June since 1900, according to Goldman Sachs. The S & P 500 since the October 2023 correction low is up 33% for an annualized total return pace of 56%. The S & P has gone eight sessions without a move of as much as half a percent. True in magnitude: The market-cap-weighted S & P 500 has outgained its equal-weighted version by more than ten percentage points this year. Not only haven't up days been broadly inclusive, the direction of the S & P 500 has been running inverse to the daily breadth over the past month.

Persons: Goldman Sachs, Sharpe, it's, we'd, I've, What's, Jeff deGraaf, Trump, We've, Poor's, what's Organizations: Nvidia, Walgreens, Nike, Apple, Technology, Communication Services Locations: hiccups

☆ Here are Friday's biggest analyst calls: Nvidia, Apple, Nike, First Solar, Deere, Alphabet, Amazon, ASML & more
▼ + stars: | 2024-06-28 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Wells Fargo reiterates Nvidia as overweight Wells said it's sticking with its overweight rating on the stock. "We initiate coverage of net lease REIT Essential Properties (EPRT) with a Buy rating and $33.00 12-month price target. Citi reiterates Apple as buy Citi moved the tech giant up a spot to its number 2 top pick. Wells Fargo reiterates Amazon as buy Wells raised its price target on Amazon to $239 per share from $234. "We initiate coverage of Intuitive Machines, Inc. (LUNR) with a Buy rating and a 12-month price target of $8 per share."

Persons: Raymond James, Deere, it's, Morgan Stanley downgrades Nike, Morgan Stanley, Wells, Goldman Sachs, Goldman, Oppenheimer, Riley, Piper Sandler, Piper, managements, it's bullish, Rosenblatt, ASML Organizations: Deutsche Bank, Deutsche, Nvidia, Properties Realty Trust, Apple, Citi, Xerox, JPMorgan, Realty Trust, Inc, Travelers, Susquehanna, Nextracker, BMO, SAP Locations: Americas, China

The third quarter starts on Monday with corporate earnings trends largely intact, but showing early signs of trouble in tech land. The good news: for the big-cap tech companies that are truly dominating the market ( Apple , Microsoft , Alphabet , Nvidia , etc.) Still no recession, in the economy or in earnings So far, we have a deceleration in big-cap tech earnings and clear signs the consumer wants lower prices. Earnings trends for tech may still be rising (even if it is decelerating), but the rest of the market is generally flattish on earnings. Earnings: rising Positive Tech earnings: rising but decelerating Negative Job growth: strong but moderating Positive Interest rates: moderating Positive Inflation: moderating Positive Consumer: increasingly cautious Negative

Persons: Jensen, Nick Raich, it's, Raich, Lori Calvasina, We've, I've, you've, Levi Strauss, General Mills, Tim Wentworth, Taco Bell, Mills Organizations: Apple, Microsoft, Nvidia, Big, Meta, Jensen Huang's, Scout, U.S, Equity, RBC Capital Markets, CNBC, Nike, Walgreens, Micron, FedEx, General, . Companies, Southwest Airlines, Pool Corp, Urban Outfitters, Yum Brands

☆ 4 investors share the strategies they're using to earn passive income and build wealth while they sleep
▼ + stars: | 2024-06-27 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +7 min

Whereas, with passive income, the idea is you do upfront work and then the gig pays you while you sleep. Insider has spoken with individuals and couples who have built passive income streams that are helping them build wealth without having to put in a ton of hours. "I 100% think that it can be a lucrative passive income stream," Erika said of investing in a franchise. That comes out to about $40,000 a month in just subscription revenue. "Everyone talks about passive income, but they keep growing.

Persons: —, Erika, Kareem Hall, Kareem, Erika Hall, Rachael Victoria, They've, , Kent, Liz Wilcox, Wilcox, I'm Organizations: Service, Business, Soccer Shots, Emory, Soccer, he's, LAX Locations: Georgia, Scottsdale , Arizona, Scottsdale

☆ How some venture capitalists are trying to lift the profile of LGBTQ+ founders
▼ + stars: | 2024-06-27 | by ( Kevin Schmidt | ) www.cnbc.com time to read: +7 min

Some venture capitalists are trying to change the equation and are backing minority founders to help them scale their companies and create jobs within their communities. The largest cities that lack any LGBTQ+ founders are Orlando, Florida; Charlotte, North Carolina; and Birmingham, Alabama. One organization trying such solutions is Chasing Rainbows, a venture capital fund that works with LGBTQ+ founders to connect them with capital. Stokes said the LGBTQ+ community historically has experienced some form of discrimination when trying to access these types of services. An angel investor himself, Stokes founded Chasing Rainbows in 2021 after recognizing that underrepresented founders are seen as riskier investments.

Persons: Charlotte ,, Brian Richardson, Richardson, Ben Stokes, Stokes, outsized, Bill No Organizations: Gallup, CNBC, StartOut, University of California Locations: StartOut's State, San Francisco , New York, Los Angeles, Denver, Austin , Texas, Orlando , Florida, Charlotte, Charlotte , North Carolina, Birmingham , Alabama, Texas, North Carolina, Alabama, Massachusetts, New York, California, Berkeley

☆ Citi Wealth's horrible tech is infuriating clients and employees and endangering its turnaround
▼ + stars: | 2024-06-25 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +11 min

But even clients who get through the door can be reluctant to park more assets with Citi, according to a wealth advisor. To understand the extent of Citi Wealth's tech woes and the stakes, Business Insider spoke with 14 current and former employees. Andy Sieg took over Citi Wealth in September after leaving Merrill Wealth Management. Citi Wealth clients are losing their patienceCiti receives 27,000 monthly complaints from wealth customers, according to the audit. Getting bank statements emailed is difficult for Citi private bank clients when it's a matter of checking a box at other major banks.

Persons: —, Andy Sieg, Roth, Ernst & Young, EY, Merrill Lynch, Sieg, Morgan Stanley, Kris, Wells, Mike Mayo, Jane Fraser, Shadman Zafar, Alois Pirker Organizations: Service, Revlon, Citi, Business, Ernst, Citi Wealth, Merrill Wealth Management, Morgan, Citigroup, Apple, Microsoft, Bankers, Employees, Work, Fidelity, Advisors

☆ How a Saudi pullback from a landmark US deal is bad news for dollar dominance
▼ + stars: | 2024-06-21 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

Saudi Arabia has not renewed a deal that ensures the use of US dollars in the oil trade. The end of this "petrodollar" agreement will dent dollar dominance, the Atlantic Council wrote. This month, Saudi Arabia did not renew a 1974 accord that mandates the exclusive use of greenbacks when selling its crude oil. What's more, US dependence on Saudi oil has slid considerably, given a historic explosion in US domestic production. "China has become Saudi Arabia's largest oil customer, accounting for more than 20% of the kingdom's oil exports.

Persons: —, nonresident, Hung Tran, Tran, What's Organizations: Atlantic Council, Service, Saudi Locations: Saudi Arabia, Europe, American, China, Saudi, Beijing, Riyadh

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