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☆ Fed is focused on labor market now, says BNY Mellon's Jake Jolly
▼ + stars: | 2024-10-24 | 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 EmailFed is focused on labor market now, says BNY Mellon's Jake JollyCharlie Bobrinskoy, Ariel Investments vice chairman, and Jake Jolly, BNY Mellon head of investment analysis, joins 'Closing Bell Overtime' to talk the day's market action.

Persons: BNY, Jake Jolly Charlie Bobrinskoy, Ariel, Jake Jolly, BNY Mellon Organizations: Fed

☆ Why a stock picking approach to small caps may boost performance right now
▼ + stars: | 2024-10-19 | by ( Krysta Escobar | ) www.cnbc.com time to read: +1 min

Stock picking may be the key to getting exposure to small caps. Rob Harvey, who's behind the Dimensional U.S. Small Cap ETF , uses an actively managed approach to buying the group. He's trying to avoid small caps that are underperforming and dragging down the index. "You remove those from your small cap universe, [and] you can do a lot for boosting returns." As of Friday's close, the Dimension U.S. Small Cap ETF is underperforming the Russell 2000 by more than one percent this year.

Persons: Rob Harvey, who's, Ben Slavin, BNY Mellon Organizations: U.S, Abercrombie, Fitch, Fabrinet, Dimensional Fund, BNY

☆ Why bitcoin has 12% upside in the weeks before the election, Standard Chartered says
▼ + stars: | 2024-10-15 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Bitcoin could hit a fresh all-time high ahead of the presidential election, Standard Chartered says. Standard Chartered estimates bitcoin could hit $73,800 in the next few weeks. In new research, head of digital asset research Geoff Kendrick estimated that the token could hit $73,800 before November's US presidential election, a 12% gain from current levels. Second, SAB 121 exemptions go hand-in-hand with MicroStrategy's announced plan to become a "bitcoin bank," offering bitcoin capital market instruments down the road. In Kendrick's mind, the outcome of the presidential election is secondary to these bullish forces, with both Trump and Harris victories boding well for the token.

Persons: Bitcoin, —, Geoff Kendrick, Kendrick, bitcoin, MicroStrategy, Geoffrey Kendrick, BNY Mellon, MicroStrategy's, Harris, Donald Trump Organizations: Chartered, Service, MicroStrategy, Standard, SAB, bitcoin, Kendrick, Trump, Republican, White Locations: lockstep

☆ ETF Edge: Getting active with small caps
▼ + stars: | 2024-10-14 | 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 EmailETF Edge: Getting active with small capsRob Harvey, Vice President of Dimensional Funds, and Ben Slavin, Global Head of ETFs for BNY Mellon, join CNBC’s Bob Pisani on the ‘Halftime Report’ to discuss the alternatives to small cap ETFs.

Persons: Rob Harvey, Ben Slavin, Bob Pisani Organizations: Dimensional Funds, BNY Mellon

☆ Big-cap bull market turns two, leaving small-cap stocks further behind
▼ + stars: | 2024-10-14 | by ( Bob Pisani | ) www.cnbc.com time to read: +3 min

Frustrated small cap investors are turning to companies with profits as the bull market in big cap stocks starts its third year. Not so with the small-cap Russell 2000 : it didn't bottom until October 2023, and is only 35% off the low, still 9% shy of its historic high in November 2021. Including 2024, the S & P 500 has outperformed the small-cap Russell 2000 in 12 of the past 15 years. A similar fund that also tracks the S & P SmallCap 600 Index is the iShares Core S & P Small-Cap ETF (IJR). Other small cap funds with a profitability tilt have also seen strong inflows recently, including the Dimensional U.S. Small Cap ETF (DFAS) and the Avantis Small Cap Value ETF (AVUV).

Persons: Russell, hasn't, it's, SPSM, Rob Harvey, Ben Slavin, BNY Mellon Organizations: Russell, Health Technology, Technology Services, Technology, Street Global Advisors, U.S, Value, Dimensional Funds, BNY

☆ Inflation reports from this week should allow the Fed to stay on track with rate cuts
▼ + stars: | 2024-10-11 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

Investors who fear stubborn inflation, if not an outright rebound, got a bit of a salve on Friday morning. Wholesale prices showed no change month over month for September, coming in below expectations. The producer price index report may help offset some of the slight concerns about Thursday's consumer price index report, which was a bit hotter than expected. The personal consumption expenditures price index for September will be released on Oct. 31. "We think the Fed is really still on track to cut 25 [basis points] at each of the next two meetings," Seif added.

Persons: David Seif, Seif, Wells Organizations: Nomura Securities, Fed, PPI, Traders, JPMorgan Chase, BNY Mellon Locations: Wells Fargo

☆ 8 tax-reducing steps to take before 2024 ends, according to $2 trillion wealth manager BNY Mellon
▼ + stars: | 2024-09-29 | by ( Christine Ji | ) www.businessinsider.com time to read: +5 min

As 2024 draws to a close, now is the time for investors to review their tax strategy. AdvertisementWith October coming into view, it's a good time to sit down and review your tax strategy for 2024. On the other hand, high earners may want to defer investment income to minimize their net investment income tax (NIIT). Retirement considerationsBNY Mellon also said to consider maxing out your retirement accounts, such as a 401(k), traditional IRA, Roth IRA, and other plans. While this means you'll owe income tax on the money you convert, your assets will accumulate tax-free in the Roth IRA going forward, according to the note.

Persons: BNY Mellon, —, Mellon, Roth Organizations: BNY, Service, Mellon Wealth Management, Investors, Roth IRA

☆ Why CTOs have the biggest job on Wall Street right now. Tech leaders from Goldman and Citadel open up about how the job is evolving in the age of AI.
▼ + stars: | 2024-08-02 | by ( Bianca Chan | ) www.businessinsider.com time to read: +8 min

"The most powerful part of the AI story thus far is the chief technology officer, chief information officer," Griffin said at the Milken Global Institute. At the most profitable hedge fund of all time, that person is Umesh Subramanian, Citadel's chief technology officer. But in the age of generative AI, the role of the CTO has evolved into something that reaches far beyond the back office. Nearly two years after OpenAI introduced ChatGPT, finance firms are still trying to figure out the best ways to leverage generative AI for their own businesses and workers. Related stories"The level of investment right now in AI, trickling down the whole value chain, is no longer only a technology investment," Argenti said.

Persons: —, Ken Griffin, Griffin, They've, Subramanian, OpenAI, it's, Andrew Chin, AllianceBernstein, Goldman Sachs, Marco Argenti, Chin, Wells, Bridget Engle, Engle, Keri Smith, Argenti, Citadel's Subramanian, Wall, Accenture's Smith, AllianceBernstein's Chin, Goldman's Argenti Organizations: Service, Citadel, Milken Global Institute, Business, BNY Mellon, Goldman, Amazon Web Services, Management, Accenture, Tech, Wall Locations: Wall

☆ Yen jumps on suspected intervention, sterling hits one-year high
▼ + stars: | 2024-07-17 | by ( ) www.cnbc.com time to read: +4 min

The yen rose sharply on Wednesday in what traders suspected was likely the result of yet another intervention from Japanese authorities to prop up the battered currency from multidecade lows. The euro was last down 0.8% at 171.15 yen, while sterling fell 0.76% to 203.75 yen. Combined with the estimated amount spent a day earlier, Japan is suspected to have bought nearly 6 trillion yen via intervention last week. That sent traders paring back bets of a rate cut from the Bank of England in August, providing a small boost to sterling , which was last up 0.43% to $1.3029. But the more important data is the inflation data, and that's telling the market that the Fed is in a position to cut fairly soon."

Persons: Geoff Yu, Masato Kanda, Michael Brown, Kyle Rodda Organizations: Mellon, Kyodo, Bank of Japan, Bank of England, Monetary, MPC, Tuesday's, Federal Reserve, New Zealand, Reserve Bank of New Locations: London, Tokyo, Japan, Reserve Bank of New Zealand

☆ The ultrawealthy can take loans to save millions on estate taxes. Here's the exclusive tactic they deploy to protect their inheritance.
▼ + stars: | 2024-07-05 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +7 min

Currently, a 40% federal estate tax applies to estate values topping $13.61 million for individuals and $27.22 million for married couples. When someone dies, their heirs have nine months to file a federal estate tax return if their inheritance meets those minimums. Here's how a Graegin loan could work in practice, according to Doyle:Related storiesHeirs of a $10 million estate could be on the hook for $4 million in federal estate taxes. The taxable estate is $1 million less, which means the family will save $400,000 in estate taxes considering the 40% tax rate. More households will be on the hook for estate taxes, and loans to pay them could become more popular.

Persons: —, Sam, Jere Doyle, Jose Reynoso, Doyle, Eric Mann, Neal Gerber Eisenberg, overallocated, Mann, John F, Koons, Robert Strauss, Weinstock Manion, Strauss, haven't Organizations: Service, Business, Mellon Wealth Management, Clarfeld, Wealth, IRS, Pepsi, Republican

☆ She interviewed for 15 AI roles before landing a Microsoft offer. It made her realize how the job market has changed.
▼ + stars: | 2024-07-04 | by ( Ana Altchek | ) www.businessinsider.com time to read: +5 min

Read preview29-year-old Supreet Kaur has interviewed at 15 companies over the last few months, and just received an offer from Microsoft. She said the job market for AI roles has changed drastically since she was on the hunt about two years ago. While Big Tech CEOs are fighting over AI talent, some candidates are fighting for a spot in the increasingly competitive job market. If you're looking for a job in AI, Kaur said these are the four key things you need to know. "The best way to look for a job is when you don't need a job," Kaur said.

Persons: —, Supreet Kaur, Morgan Stanley, Kaur, Google's, BNY Mellon Organizations: Service, Microsoft, Business, Big Tech, Summit New Locations: Summit New York, York

"The stock price has lagged but we don't see any other catalysts medium term, hence we are moving to the sidelines." Micron shares were down 5% in the premarket. The analyst reiterated a buy rating on Micron stock with a $175 per share price target, implying nearly 23% upside from Wednesday's $142.36 close. He raised his price target to $158 per share price from $138, calling for 11% upside. Arya maintained a buy rating on Micron stock with a $170 per share price target, or about 19% upside moving forward.

Persons: Vivek Juneja, — Brian Evans, TD Cowen, Cowen, John Blackledge, Keefe, David Konrad, Brian Evans, Christopher Danely, Goldman Sachs, Toshiya Hari, Hari, Vivek Arya, Arya, Caio Ribeiro, Ribeiro, Fred Imbert Organizations: CNBC, Micron Technology, Bank of America, Petrobras, JPMorgan downgrades U.S, Bancorp, JPMorgan, U.S . Bancorp, New York Mellon, Bank of New, Bank of New York Mellon, BK, Mellon, Micron, MU, Citi Locations: Brazil, U.S, Bank of New York, CY2025

☆ Fed cuts are on the horizon, 'even if they're pushed off', says BNY Mellon's Jake Jolly
▼ + stars: | 2024-06-27 | 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 EmailFed cuts are on the horizon, 'even if they're pushed off', says BNY Mellon's Jake JollyLori Calvasina, RBC Capital Markets head of US equity strategy, and Jake Jolly, BNY Mellon head of investment analysis, joins 'Closing Bell Overtime' to talk the day's market action.

Persons: they're, BNY, Jake Jolly Lori Calvasina, Jake Jolly, BNY Mellon Organizations: RBC Capital Markets

☆ Family offices are planning big investments in private companies
▼ + stars: | 2024-06-10 | by ( Robert Frank | ) www.cnbc.com time to read: 1 min

Family offices are increasingly becoming their own private equity funds and investing in companies directly, according to a new survey. A majority (62%) of family offices made at least six direct investments last year, where they buy a stake in a private company or provide lending, according to the survey of family offices by BNY Mellon Wealth Management. An even larger number of family offices (71%), plan to make the same number or more direct investments in 2024. With the number of family offices tripling since 2019, and their total assets reaching an estimated $6 trillion or more, the flood of family office money into private companies could reshape private markets and the private equity industry. "Direct investment presents exciting opportunities for family offices to leverage their unique competencies," according to the report.

Organizations: BNY Mellon Wealth Management

☆ It's time to take your cash out of CDs and money market funds as the Fed gets ready to cut rates, says a chief strategist at a $1.4 trillion firm. Here are 3 ways to earn attractive returns for years
▼ + stars: | 2024-06-05 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

The last year and a half has been the best period in more than 20 years to be sitting in cash. Related stories"We know those attractive cash rates aren't going to last forever. Just as the aggressive rate hiking cycle took Treasury yields higher, interest rate cuts will eventually take all cash rates lower as well," Gillum said. And third, investors can build a bond ladder, meaning they stagger their money in different bond durations. "Bonds offer an optionality that you don't get from cash.

Persons: Lawrence Gillum, Gillum, there's Organizations: Service, Federal Reserve, LPL, Business, Bloomberg, Aggregate Bond, BNY Mellon, Schwab U.S, Fed

☆ Dollar firm ahead of global inflation data
▼ + stars: | 2024-05-27 | by ( ) www.cnbc.com time to read: +4 min

The dollar made a steady start to the week, as investors were focused on U.S., European and Japanese inflation data to guide the global interest rate outlook. The euro , which gained 0.9% on the dollar last week, was in the middle of a range it has held for more than a year at $1.0846. German inflation on Wednesday and euro zone readings on Friday will be watched for confirmation of a European rate cut that traders have priced for next week. The dollar had fallen back after data showed a slowdown in consumer price rises in April and disappointing retail sales, before strengthening last week thanks to better-than-expected PMI survey data. China's yuan finished last week weaker than 7.24 per dollar, its lowest level since early May.

Persons: Sterling, Bob Savage, BNY, China's, Scott Gold, would've, Justin D'Anethan Organizations: New, U.S, Federal, Swiss, Tokyo CPI Locations: Britain, United States, U.S, Asia, New York

☆ Chinese companies are looking overseas for growth. Morgan Stanley says this is the stock to play the trend
▼ + stars: | 2024-05-26 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

A U.S.-listed Chinese company that makes most of its money overseas could soar more than 75%, according to Morgan Stanley's newly updated forecasts. "This is because the stock has traded off recently, making short term valuation much more compelling," the Morgan Stanley analysts said, noting Tuya's quarterly results last week. Tuya shares closed Friday at $1.99, down more than 13% for the year so far. "Key play on Chinese companies going overseas, with a global leading position," the analysts said. Tuya is just one of many China-based companies going overseas as their business capabilities improve and growth at home slows.

Persons: Morgan Stanley's, Yang Liu, Morgan Stanley, Tuya, Goldman Sachs, BNY Mellon Organizations: Management, Asia Pacific, Google, BNY, New Enterprise Associates Locations: U.S, Asia, China, Europe, India, Hong Kong

☆ Treasury launches ‘Project Fortress,’ an alliance with banks against hackers
▼ + stars: | 2024-05-09 | by ( Matt Egan | ) edition.cnn.com time to read: +6 min

The new public-private partnership, dubbed Project Fortress, underscores the real danger US officials and bank executives believe cyberattacks pose to the economy. But Project Fortress is not just about playing defense. Project Fortress has been in the works for several months, with Treasury rolling out various parts of the alliance in pieces, the source said. One of the key elements of Project Fortress is the cyber hygiene tool run by the Cybersecurity and Infrastructure Security Agency (CISA). The federal government has recently flexed its offensive capabilities, including ones that are part of Project Fortress.

Persons: Wally Adeyemo, Janet Yellen, Adeyemo, Jamie Dimon, Brian Moynihan, Jane Fraser, Robin Vince, ” Vince, Vince, Jerome Powell, ” Adeyemo, Sean Lyngaas Organizations: New, New York CNN, Treasury, CNN, Bank Policy, JPMorgan Chase, Bank of America, Citigroup, BNY, Washington, Industrial, Commercial Bank of China, Infrastructure Security Agency, JPMorgan Locations: New York, Washington

☆ 'Not surprising' that Fed doesn't yet have confidence to cut rates, says BNY Mellon CEO
▼ + stars: | 2024-04-16 | 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 Email'Not surprising' that Fed doesn't yet have confidence to cut rates, says BNY Mellon CEOCNBC's Leslie Picker sits down with Bank of New York Mellon CEO, Robin Vince, to discuss potential rate cuts, macro outlooks, and more.

Persons: Mellon, CNBC's Leslie Picker, Robin Vince Organizations: Bank of New York Mellon

☆ Watch CNBC's full interview with BNY Mellon CEO Robin Vince
▼ + stars: | 2024-04-16 | 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 BNY Mellon CEO Robin VinceCNBC's Leslie Picker sits down with Robin Vince, Bank of New York Mellon CEO, to discuss earnings, macro outlooks, and more.

Persons: BNY Mellon, Robin Vince CNBC's Leslie Picker, Robin Vince Organizations: BNY, Bank of New York Mellon

☆ BNY Mellon CEO: People sometimes underestimate the psychological impact of a higher stock market
▼ + stars: | 2024-02-28 | 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 EmailBNY Mellon CEO: People sometimes underestimate the psychological impact of a higher stock marketRobin Vince, BNY Mellon CEO, joins 'Money Movers' to discuss BNY Mellon's far reach, what Vince is seeing from capital flows, and the amount of investment into the economy despite the Federal Reserve's position.

Persons: Robin Vince, Vince Organizations: BNY Mellon, Mellon

☆ An abrupt exit at a Goldman Sachs-backed crypto bank spotlights the industry's tug-of-war with regulators
▼ + stars: | 2024-02-26 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +13 min

Read previewWhen the chief executive of cryptocurrency startup Anchorage Digital posted a message in the company's "announcements" Slack channel in late November about an executive's departure, employees started buzzing. Just over a year after it received the charter, the OCC issued a consent order against Anchorage in April 2022. Regulators are aggressively scrutinizing crypto players and prioritizing monitoring crypto compliance. Regulators' viewThe OCC is now led by Michael Hsu, the former Federal Reserve regulator and self-described crypto skeptic who has viewed crypto companies' regulatory compliance in some areas as inadequate. A crypto bank would face risks in safeguarding digital assets in its custody, maintaining appropriate hedges in crypto-lending, and adhering to capital requirements specific to crypto assets, said Kim, who studies crypto and blockchain technology.

Persons: —, Georgia Quinn, Nathan McCauley's, McCauley, Goldman Sachs, Andreessen Horowitz, Quinn, Brian Brooks, CoinDesk, Oliver Wyman, FTI, Brooks, Michael Hsu, Hsu, Evelyn Hockstein, Mark duBose, Seoyoung Kim, University's, Kim, Diogo Mónica, Axel Springer, Mark McCombe, Max Levchin, BNY, Seyfarth Shaw, Ellenoff Grossman, it's Organizations: Service, Anchorage, Business, Citadel Securities, Apollo Global Management, Visa, OCC, Regulators, Securities, Exchange, IBM, KPMG, Anchorage Digital Bank National Association, Federal Reserve, Reuters, Business Insider, Santander Bank, University's Leavey School of Business, KKR, BlackRock, BNY Mellon Locations: Anchorage, United States, Santa, San Francisco, Portugal

☆ Higher rates raising ‘downside risks’ for regional banks, warns Bank of America
▼ + stars: | 2024-02-14 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

The danger of higher rates for longer following the latest hot inflation reading raises the "downside risk" for regional banks, according to Bank of America. "Fewer and later Fed rate cuts pose downside risk to bank stocks," analyst Ebrahim Poonawala wrote in a Tuesday note. "We are especially concerned about the failure of the broader market to project the trajectory of interest rates – a consistent theme since the Fed began raising interest rates in March 2022." "We worry about the risk from no rate cuts in 2024 and a far more elevated level of interest rates across the UST yield curve," Poonawala added. Net interest margin is the difference between the interest banks earn on loans and pay on deposits.

Persons: Ebrahim Poonawala, Poonawala, Goldman Sachs, BNY Mellon, — CNBC's Michael Bloom Organizations: Bank of America, Federal, Treasury, Silicon Valley Bank, Fed, UST, Regional Banking, Regional Banking ETF, JPMorgan, BNY, U.S . Bancorp, First Bancorp Locations: Silicon, U.S, Puerto Rico

☆ One of Wall Street's favorite ways to control workers is under attack
▼ + stars: | 2024-02-08 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +9 min

One of Wall Street's favorite employee leverage tactics — non-compete agreements — is facing a major threat, and there could be far-reaching implications for how the financial industry does business. But it's also clear that Wall Street firms are under particular attention for the practice. With major Wall Street firms already having among the most unpopular back-to-work policies in the market, "Wall Street is already in a position where they are recognizing they don't have all the hands they had before," Chamberlin said. Shore recommends Wall Street firms undertake a thorough competitive analysis at every level in every department to ensure they are market competitive. Even if the FTC rule goes through, Wall Street firms still have options to protect their business.

Persons: Charles Scharf, Wells, Brian Thomas Moynihan, Jamie Dimon, JPMorgan Chase, Jane Fraser, Ronald O’Hanley, Robin Vince, BNY Mellon, David Solomon, Goldman Sachs, James Gorman, Morgan Stanley, General Mills, —, Wall, it's, Kathy Hochul, that's, Covid, Laurie Chamberlin, Chamberlin, Lina Khan's, Khan, It's, David Fisher, Gilbert, Fisher, Juan A, Crowell, Arteaga, Paul Webster, Matt Shore, Kareem Bakr, Webster, Leslie John, Ballard Spahr, John Organizations: Company, Bank of America, JPMorgan, Citigroup, BNY, Google, Apple, Pfizer, Exxon Mobil, General Electric, Procter, Gamble, Nike, Economic, Institute, Federal Trade Commission, North America, American College of Emergency Physicians, Davis, FTC, Supreme, Industry, Moring, Wall, Phaidon International, Wall Street Locations: Wells Fargo, Hart, Washington ,, New York, . California, U.S, Gilbert . Massachusetts, Oregon, Washington, Massachusetts

☆ These ETFs could help investors reduce Big Tech exposure
▼ + stars: | 2024-02-03 | by ( Josephine Rozzelle | ) www.cnbc.com time to read: +1 min

Big Tech's market dominance may push more investors to equal-weight exchange-traded funds, according to VettaFi's Todd Rosenbluth. Rosenbluth lists the Invesco S&P 500 Equal Weight ETF and the Invesco S&P 500 Equal Weight Technology ETF as options for investors who want to reduce exposure to the "Magnificent Seven." "You own the same companies that you'd find within the S&P 500 or in the technology sector. But instead of being dominated by Apple and Microsoft and Nvidia, you spread that risk around to the other companies," Rosenbluth said. CNBC's Magnificent 7 Index, which is comprised of Apple, Alphabet, Meta , Microsoft , Amazon , Nvidia and Tesla , soared almost 6% Friday.

Persons: VettaFi's Todd Rosenbluth, Rosenbluth, BNY Mellon's Ben Slavin, CNBC's Organizations: Nasdaq, Apple, Microsoft, Nvidia, Big Tech, Tesla

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