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☆ Smith: Some investors have trepidation heading into 2025 with markets at all-time highs
▼ + stars: | 2024-12-17 | 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 EmailSmith: Some investors have trepidation heading into 2025 with markets at all-time highsMark Smith of Wells Fargo Advisors discusses how investors can use dollar cost averaging to navigate potential market volatility, and why he favors the semiconductor sector.

Persons: Smith, Mark Smith, Wells Organizations: Advisors

☆ Stocks are not in a bubble, investors should keep buying, Wells Fargo says
▼ + stars: | 2024-12-17 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

For investors anxious about the market's stretched valuation, Wells Fargo said there is no bubble forming. The S & P 500 is currently trading about 25 times forward earnings after a 27% rally, which makes today's valuation seem expensive at first glance since the 30-year average price-to-earnings ratio is at 19 times, Wells Fargo said. Wells Fargo pointed out that profit margins of S & P 500 companies have nearly doubled over the past 15 years, while net debt to earnings have halved during the same time. .SPX YTD mountain S & P 500 The Wall Street bank expects the S & P 500 will advance to 6,600 by the end of 2025, equivalent to about a 9% gain next year. Wells Fargo believes deregulation under President-elect Donald Trump could help support earnings growth.

Persons: Wells Fargo, Austin Pickle, Wells, Donald Trump Organizations: CNBC Pro's

☆ Trump’s tariffs could usher in a worst-case economic scenario not seen since the 1970s
▼ + stars: | 2024-12-17 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +6 min

Now, Americans may have to actually brace for stagflation — something the nation’s economy hasn’t experienced in over half a century. Just over a month from now, Trump will have the power to levy tariffs on other nations at the flick of a pen. When the Fed responded to high levels of unemployment in the 1970s by cutting rates to relieve pressure businesses faced, it later had to contend with higher inflation. The path to stagflationThe tariffs Trump has floated aren’t inherently inflationary, Michael Feroli, chief US economist at JPMorgan, told CNN. But higher tariffs can quickly fuel cascades of price increases if Americans expect higher inflation because of them and demand higher wages, which, in turn, could result in businesses continuing to raise prices.

Persons: Jamie Dimon, JPMorgan Chase —, —, ” Dimon, Jerome Powell, “, Donald Trump, Trump, ” Powell, Marty Lederhandler, it’s, It’s, Michael Feroli, Feroli, Stagflation, Wells, ” Organizations: New, New York CNN, JPMorgan, Wall, Fed, Trump, CNN Locations: New York, stagflation, New York City, U.S

☆ Here are Tuesday's biggest analyst calls: Nvidia, Tesla, Meta, Dell, Nike, SolarEdge, Planet Fitness & more
▼ + stars: | 2024-12-17 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Truist reiterates Meta Platforms as buy Truist says the Instagram owner is a top pick in 2025. " Morgan Stanley initiates Elastic NV as overweight Morgan Stanley says it sees "sustained growth." Morgan Stanley upgrades Shoals to overweight from equal weight Morgan Stanley upgraded the solar tech company after a series of management meetings. Morgan Stanley initiates Hims and Hers at overweight Morgan Stanley called the telehealth company a "compounding machine." Morgan Stanley upgrades Quest Diagnostics to overweight from equal weight The firm said in its upgrade of Quest that 2025 is the "year of the labs."

Persons: Goldman Sachs, Goldman, Piper Sandler, Piper, it's bullish, MARA, Stifel, Truist, Meta, monetization, Trump, it's, Morgan Stanley, Brandon Moss, Hims, Jefferies, Wells, JPMorgan, Wolfe, Rosenblatt, MongoDB Organizations: & Mara Holdings, MARA Holdings Inc, Inc, Mizuho, UBS, Manchester United, League, Premier League, Champions, Nike, BMO, Amazon, Jefferies, Walmart, Quest, WillScot Holdings Corporation, Timken Company, JPMorgan, Catalyst Watch, Dell, Arista, DELL, Nvidia, Albertsons, Kroger, Barclays Locations: Manchester, GenAI, gym's, OW

☆ These growth stocks are attractively valued as 2025 approaches
▼ + stars: | 2024-12-17 | by ( Pia Singh | In | ) www.cnbc.com time to read: +3 min

Stocks such as Oracle and Micron Technology are among several growth plays left in a market that recently soared to records. Using FactSet, we found several companies that are considered to offer " growth at a reasonable price " (GARP). These stocks have strong growth prospects and are trading at an attractive valuation relative to their peer group, offering an alternative lens through which to look for buying opportunities, beyond simple growth and value screens. Several semiconductor makers — including Micron Technology, Advanced Micro Devices and Broadcom — are forecast to see strong growth levels next year, according to the screen. In the context of shares trading at a relatively low multiple compared to historical averages, we see significant room for appreciation," Chatterjee wrote.

Persons: Wells Fargo, hyperscalers, Goldman Sachs, Samik Chatterjee, Chatterjee, Yum Organizations: Oracle, Micron Technology, Bank of America, Devices, Broadcom, AMD, Nvidia, FactSet, Micron, JPMorgan, Adobe, Taco Bell, Brands Locations: Wells

☆ Christopher: Inflation may hover around 2.5-3.5% next year, and that's not bad for stocks
▼ + stars: | 2024-12-16 | 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 EmailChristopher: Inflation may hover around 2.5-3.5% next year, and that's not bad for stocksPaul Christopher of the Wells Fargo Investment Institute says the Fed will be watching next year, like the rest of us, what policies and tariffs get implemented by the incoming Trump administration.

Persons: that's, Paul Christopher, Trump Organizations: Wells, Investment Institute

☆ Expect broadening of the market rally and rotation next year, says JPMorgan’s Elyse Ausenbaugh
▼ + stars: | 2024-12-16 | 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 EmailExpect broadening of the market rally and rotation next year, says JPMorgan’s Elyse AusenbaughNewEdge’s Cameron Dawson, JPMorgan’s Elyse Ausenbaugh and Wells Fargo’s Sameer Samana, join 'Closing Bell' to discuss markets, the big winners in tech under Trump and their outlook on the sector.

Persons: JPMorgan’s, Ausenbaugh NewEdge’s Cameron Dawson, JPMorgan’s Elyse, Wells, Sameer Samana Organizations: Trump

☆ Watch CNBC’s full interview with NewEdge’s Cameron Dawson, JPMorgan’s Elyse Ausenbaugh and Wells Fargo’s Sameer Samana
▼ + stars: | 2024-12-16 | 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 NewEdge’s Cameron Dawson, JPMorgan’s Elyse Ausenbaugh and Wells Fargo’s Sameer SamanaNewEdge’s Cameron Dawson, JPMorgan’s Elyse Ausenbaugh and Wells Fargo’s Sameer Samana, join 'Closing Bell' to discuss markets, the big winners in tech under Trump and their outlook on the sector.

Persons: NewEdge’s Cameron Dawson, JPMorgan’s Elyse, Wells, Sameer Samana NewEdge’s Cameron Dawson, Sameer Samana Organizations: Trump

☆ Chipotle's new CEO is trying to keep robots out of your burrito assembly line
▼ + stars: | 2024-12-16 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +4 min

Chipotle's CEO Scott Boatwright said he values the human touch in the chain's assembly lines. Chipotle's CEO wants to make sure your burrito is made by hand for as long as possible. Advertisement"We still believe the best way to Chipotle is down the line with a team member, highly customized, great variety, big beautiful burritos and bowls down the line," he added. Boatwright's comments come as restaurants and fast food chains, including Sweetgreen and White Castle, increasingly use robots to handle human tasks. AdvertisementWhen asked by Yahoo Finance about whether he wants to increase automation in Shake Shack, the chain's CEO Danny Meyer said: "Personally, I don't."

Persons: Scott Boatwright, Brian Sozzi, Boatwright, Brian Niccol, Chipotle, Fortune, Wells, Danilo Gargiulo, Gargiulo, Adam Rymer, Danny Meyer, Meyer Organizations: Yahoo, Yahoo Finance Locations: Chipotle, San Jose, New York City, AllianceBernstein, White

☆ How to invest $50,000 in 2025 to generate safe income
▼ + stars: | 2024-12-16 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +5 min

Yields on cash are cooling, but investors who want to earn a little interest on money they need to keep safe still have options in 2025. A one-year certificate of deposit from Bread Financial – which once offered an annual percentage yield of 5.25% – now pays 4.3%. Bond yields and bond prices move in opposite directions so, for example, when prices rise, yields fall. Ultrashort bond funds have the benefit of limited duration exposure – meaning that their prices aren't very sensitive to rate fluctuations. For those with longer time horizons who are willing to go out on the yield curve a bit, short-term bond funds might also be a fit.

Persons: Wells, Michael Kaye, Adam Reinert, Banks, Arvind Narayanan, Vanguard's, Narayanan Organizations: Federal Reserve, Marshall Financial, Bond, SEC, Fund Locations: Doylestown , Pennsylvania

☆ China gears up for an uncertain 2025. How investors plan to prepare
▼ + stars: | 2024-12-15 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

"It is clear that China is setting the stage to increase stimulus in 2025, potentially to counteract any adverse trade policies from the incoming Trump administration," Costello said. Cambridge Associates is neutral on Chinese stocks, wanting to see more evidence of a pickup in growth. "With recovery of China's hospital procurement for medical equipment from September, we foresee a growth rebound for the China medical device sector in 2025," the HSBC analysts said. Snibe, traded in the Shenzhen market, can see 19% earnings growth, with Mindray profits expected to climb 15%. In contrast, this year's rally in Chinese stocks could snap multiple years of declines.

Persons: Aaron Costello, Stocks, Trump, Costello, Biden, Donald Trump, CNBC's Jim Cramer, Xi Jinping, Karoline Leavitt, Xi, Paul Christopher, Christopher, Wells, Downside, — CNBC's Michael Bloom Organizations: Cambridge Associates, Ministry of Finance, HSBC, Imaging, New York Stock Exchange, Fox News, Macro Research, Reuters, Citigroup, Wells, Wells Fargo Investment Institute Locations: Asia, Beijing, China, Shanghai, Shenzhen, U.S, Wells Fargo, Hong Kong

☆ From growth to gone: GM’s Cruise robotaxi business is latest growth initiative to falter
▼ + stars: | 2024-12-15 | by ( Michael Wayland | ) www.cnbc.com time to read: +9 min

Companies including GM are now focused on more "core" operations and adjacent business opportunities, including software, EVs and "personal autonomous vehicles." To GM's credit, Wall Street, which previously pushed for such growth businesses, applauded the decision to end Cruise's robotaxi ambitions. But it's hard to ignore that Cruise is GM's latest mobility venture or growth business to fold or not live up to expectations. Super CruiseOther than saving capital, GM's silver lining for canceling the Cruise robotaxi business was that it sees more promise in continuing to develop its Super Cruise hands-free advanced driver assistance system. Vogt was not enthusiastic about GM's decision to kill the robotaxi operations.

Persons: David Paul Morris, Mary Barra, Barra, You've, Cruise, Wall, Wells, Colin Langan, Mandel Ngan, GM's, It's, John Murphy, Murphy, GM wasn't, Kyle Vogt, Vogt Organizations: Bloomberg, Getty, General Motors, GM, Companies, Wall Street, Cruise, Wall, General, General Motors Factory, Afp, Cruise LLC, GM Energy, EV, GM Defense, GM's, Securities, Traffic Safety Administration, Chevrolet Locations: San Francisco , California, DETROIT, Barra, Detroit , Michigan, robotaxis, San Francisco

☆ Who got it right and wrong on Wall Street in their 2024 stock market outlook
▼ + stars: | 2024-12-13 | by ( Pia Singh | In | ) www.cnbc.com time to read: +3 min

Original 2024 outlooks for the S & P 500 ranged from a low of just 4,200 at JPMorgan by Dubravko Lakos-Bujas, to a high of 5,200 from Oppenheimer's John Stoltzfus. The S & P 500 closed Thursday at 6,051.25, more than 800 points above the highest forecast at the start of the year. With less than a month left to trade, the S & P 500 is ahead 26.9%, and that does not even include dividends. Goldman's team actually raised its 2024 forecast to 5,100 before the new year even began , after stocks took off heading into the end of 2023. Bank of America's Savita Subramanian originally had a year-end target of 5,000 for the S & P 500, which closed 2023 at about 4,770.

Persons: Dubravko Lakos, John Stoltzfus, Donald Trump's, Oppenheimer, Goldman Sachs, Julian Emanuel, David Kostin, Wells, America's Savita Subramanian Organizations: JPMorgan, Federal, Fed, ISI, UBS, Wells, Wells Fargo Investment Institute, Bank, America's, Survey Locations: U.S, Wells Fargo

☆ Worries of a Fed policy mistake are growing amid a hot economy and sticky inflation
▼ + stars: | 2024-12-13 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

There's a growing fear among market commentators the Fed will make a policy mistake. AdvertisementFrederic Mishkin, a former Fed Governor, said that cutting interest rates with inflation still above target could produce a harmful setup for the economy. Economists have warned that the Fed cutting rates too early could risk reigniting inflation. It could also risk inflation expectations becoming unanchored, which could prompt stagflation, a situation in which growth is sluggish while prices remain stubbornly high. AdvertisementDarrell Cronk, the chief investment officer of Wells Fargo's wealth and investment arm, said the Fed's decision to potentially cut interest rates in December could be a "mistake down the road."

Persons: Richard Fisher, Fisher, Frederic Mishkin, Darrell Cronk, Wells, Torsten Sløk, Sløk Organizations: Fed, Dallas Fed, Atlanta, CNBC

☆ S&P 500 is rarely this expensive heading into new year
▼ + stars: | 2024-12-13 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +1 min

The S & P 500 is looking at a strong – and notably expensive – finish to the year, but there may still be room to grow from here. Heading into 2025, the broad market index is trading at a historically expensive price-to-earnings ratio of 22.3, Wells Fargo found. However, Wells Fargo analyst Christopher Harvey is sticking to his 2025 S & P 500 target of 7,007, which indicates 15.8% upside potential from Thursday's close. The S & P 500 has become "growthier" since that period, according to Harvey. Investors also shouldn't be too disappointed by some companies' initial soft guidance for 2025, Harvey added.

Persons: Wells, Christopher Harvey, Harvey, Donald Organizations: Trump Locations: Wells Fargo

A new CFPB rule could cap overdraft fees to $5 for very large institutions starting next October. The best banks for avoiding overdrafts don't charge overdraft fees at all, but it's more common for banks to charge overdraft fees in the $20 to $40 range. Here's what you can expect to change and what you should do to take advantage of lower overdraft fees. AdvertisementFinancial institutions on the list that haven't eliminated overdraft fees have a couple of other options if they don't want to cap overdraft fees at $5. AdvertisementHow to mitigate overdraft fees nowWhile this rule would help you avoid high overdraft fees, there are ways you can lower the impact of overdraft fees on your budget regardless of whether the rule goes through.

Persons: overdrafts, Ally, Patrick O'Leary, Davidson, O'Leary, we've, Angela Moore, Moore, doesn't Organizations: Business, Service, Financial Protection, Bank of America, Ally Bank, Navy Federal Credit Union, Wealth Management, D.A, Modern Money Education Locations: Wells Fargo

☆ Stocks making the biggest moves midday: ServiceTitan, Adobe, Warner Bros. Discovery, Riot Platforms and more
▼ + stars: | 2024-12-12 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Adobe — The software company tumbled more than 12% after it announced lighter-than-expected revenue estimates for the fiscal first quarter. Discovery — Shares surged 15% after the legacy media company announced plans to restructure and split its business into linear and streaming segments. Constellation Energy — The energy company advanced 3% following an upgrade to buy from Bank of America, with the firm citing rising demand and tightening supply as catalysts for shares moving forward. Celsius Holdings — The energy drink maker surged 5% after JPMorgan initiated coverage at an overweight rating. ServiceTitan – Shares of the cloud software company surged more than 40% as ServiceTitan made its debut on the Nasdaq.

Persons: Adobe, Wells, Hershey, Keurig Dr Pepper, Steve Powers, FactSet, clawing, Prashanth Mahendra, Rajah, Uber, ServiceTitan, Alex Harring, Hakyung Kim, Sarah Min, Jesse Pound, Tanaya Macheel Organizations: Adobe, Warner Bros, —, Constellation Energy, Bank of America, JPMorgan, Hershey, Beverage, Cola, PepsiCo, Keurig, Deutsche Bank, Oxford Industries —, Oxford, Street Journal, Technologies, Barclays, Nasdaq

☆ Adobe shares plunge 13% on disappointing revenue guidance
▼ + stars: | 2024-12-12 | by ( Cj Haddad | ) www.cnbc.com time to read: +1 min

Adobe shares fell 13% on Thursday and headed for their steepest drop since March after the software vendor issued disappointing revenue guidance. Sales in the fiscal first quarter will be between $5.63 billion and $5.68 billion, Adobe said in its fourth-quarter earnings report late Wednesday. Analysts at TD Cowen downgraded the stock to hold from buy, while Wells Fargo kept its buy rating following what it called a "frustrating '24" for the company. Revenue in the fourth quarter increased 11% to $5.61 billion, beating the average estimate of $5.54 billion. Analysts at Deutsche Bank maintained their buy rating but lowered their target price from $650 to $600.

Persons: Shantanu Narayen, Cowen, Wells Fargo Organizations: CNBC, New York Stock Exchange, Adobe, Nasdaq, Revenue, Deutsche Bank Locations: LSEG

☆ Why investors should move out of excess cash in 2025, according to experts
▼ + stars: | 2024-12-12 | by ( Michelle Fox | ) www.cnbc.com time to read: +7 min

Yields on cash-equivalent investments like money market funds , certificates of deposit and Treasury bills follow the Federal Reserve 's interest-rate moves. A record $6.77 trillion is sitting in money market funds, as of the week ended Dec. 4, according to the Investment Company Institute . Money market funds, with 12-months yields about 5%, averaged around a 7.34% return during that same time period, Alvarado said. Locking in income Investors' portfolios should be tailored to their time horizon and risk profile, Queen said. UBS is also advising investors to shift excess cash into assets that provide higher and more durable sources of income.

Persons: Peter Crane, Crane, Donald Trump, Cash, Luis Alvarado, Alvarado, Mark Haefele, Haefele, John Queen, Queen, Wells Fargo Organizations: Federal, Investment Company Institute, Fed, Crane, Bureau of Labor Statistics, Vanguard, Wells, Wells Fargo Investment Institute, Morningstar U.S, Fund, UBS, UBS Global Wealth Management, Capital Group, Wells Fargo Investment Group Locations: Wells Fargo, Asia

☆ Here are Thursday's biggest analyst calls: Nvidia, Apple, Coca-Cola, McDonald's, Palantir & more
▼ + stars: | 2024-12-12 | by ( Michael Bloom | ) www.cnbc.com time to read: +10 min

Here are Thursday's biggest calls on Wall Street: UBS upgrades Diageo to buy from neutral UBS said it sees brand momentum for the beverage company. JPMorgan upgrades Brookfield Renewables to overweight from neutral JPMorgan said it's bullish on shares of the renewables company. Wells Fargo reiterates McDonald's as overweight The firm said it's a top idea heading into the holidays and 2025. " Bank of America upgrades Constellation Energy to buy from neutral The firm said shares of the energy company are "compelling." Goldman Sachs reiterates AT & T as buy The firm said the telecom company is a top idea in 2025.

Persons: Don Julio, Goldman Sachs, Nucor, Bernstein, Apple, it's, Morgan, Wells, Blackstone, TD Cowen downgrades Adobe, Cowen, KeyBanc, Mizuho, Morgan Stanley, Roblox, Hershey, it's bullish, Woodward, Goldman, bullish, TD Cowen, Baird, Palantir, Dr Pepper, Disney, Parsons, Jefferies Organizations: UBS, Diageo, Crown, Dynamics, Gulfstream, Apple, JPMorgan, Brookfield Renewables, Brookfield Renewable Partners, Brookfield Renewable Corp, Morgan Stanley, Alcoa, Mobile, Nvidia, Mizuho, MU, DELL, HSBC, Hershey, UW, EW, Citi, American Airlines, Benchmark, Penske, Penske Auto Group, AWS, Adv, Energy, Deutsche Bank, Pepsi, Deutsche, Beverage, Disney, " Bank of America, Inc, Holdings, Constellation Energy, Constellation Energy Group, DoD, Federal Civilian, Emerson Electric, Jazz Pharmaceuticals Locations: Western Australia, Wells Fargo, 1H25, CRDO, Mar

☆ Here are Wednesday's biggest analyst calls: Nvidia, Netflix, Tesla, Broadcom, Micron, Alphabet, Boeing, Reddit & more
▼ + stars: | 2024-12-11 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Here are Wednesday's biggest calls on Wall Street: Wells Fargo initiates Reddit as overweight The firm said it sees several "upside drivers" for Reddit. Goldman Sachs initiates OneStream as buy Goldman said it sees a "premium growth opportunity" for the cloud-based corporate performance management platform. Citi reiterates Coca-Cola as buy Citi said the beverage company is a top idea in 2025. Bank of America downgrades Duolingo to neutral from buy Bank of America downgraded the stock mainly on valuation. ... .While we have some reservations about the growth / growth synergy story, easy comparisons and other points should support this narrative in the next year."

Persons: Goldman Sachs, Tesla, Goldman, it's bullish, it's, Morgan Stanley, DAL, TD Cowen, Lam, Wells, Bernstein, Stifel, DR, PulteGroup, PHM, KeyBanc Organizations: Wells, Citi, " Bank of America, Bank of America, Alaska Airlines, JPMorgan, Boeing, Aero, Lam Research, Micron, MU, Broadcom, JPMorgan downgrades, Artificial Intelligence, Netflix, Barclays, Lennar, underperform Bank of America, Deutsche, Frontier, AMD Locations: OW, MPWR, NVDA

☆ Prepare for abundant liquidity to broaden opportunities in 2025, says Wells Fargo's Darrell Cronk
▼ + stars: | 2024-12-11 | 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 EmailPrepare for abundant liquidity to broaden opportunities in 2025, says Wells Fargo's Darrell CronkDarrell Cronk, Wells Fargo Wealth and Investment Management CIO, joins 'Squawk on the Street' to discuss the latest inflation data, what the restrictive federal funds rate is, and much more.

Persons: Wells Fargo's Darrell Cronk Darrell Cronk Organizations: Wells Fargo Wealth, Investment Management Locations: Wells Fargo

☆ What propelled the Nasdaq above 20,000 — plus, a few weak spots in the stock market
▼ + stars: | 2024-12-11 | by ( Jeff Marks | ) www.cnbc.com time to read: +6 min

Market moves: Tech stock strength on Wednesday pushed the Nasdaq up nearly 2% and above 20,000 for the first time ever. Both of the Club stocks made a strong move higher Wednesday, with Krispy Kreme revealing that it was hacked bringing further attention to the cybersecurity stocks. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. 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, Dow, Tesla, Thursday's, Eli Lilly, Wells, Charlie Scharf, Goldman Sachs, Scharf, Jim Cramer's, Donald Trump, haven't, Krispy, we'll, Jim Organizations: CNBC, Wednesday, Nasdaq, Dow, Apple, Broadcom, Myers Squibb, Utilities, Federal Reserve, Fed, Bank, Financial Services Conference, Palo Alto Networks, Club, Adobe, Jim Cramer's Charitable Locations: Bristol, U.S, Wells Fargo, Palo

☆ How tech's right-wing elite made 'debanking' claims into a political rallying point
▼ + stars: | 2024-12-10 | by ( David Ingram | David Ingram Is A Tech Reporter For Nbc News. | ) www.nbcnews.com time to read: +15 min

There is no guaranteed right to banking services, and Andreessen and Musk both have a history of making inflammatory political statements. Last week, in a victory for the crypto industry, Trump said he would appoint the venture capitalist David Sacks, an industry ally, as his “White House A.I. Tom Williams / CQ-Roll Call via Getty Images fileTrump during the campaign wooed crypto industry support in part by talking about debanking. Still, his comment prompted others to share personal stories about losing access to banking services with no explanation and despite having good credit. At least one bank industry trade group says debanking is a real issue — and one that’s caused by government regulators’ pressure.

Persons: Elon Musk, Marc Andreessen, Biden, debanked, ”, Joe Rogan, ” —, Musk, JPMorgan Chase, Donald Trump, Andreessen Horowitz, debanking, Rohit Chopra, Joe Biden, Trump, David Sacks, ” Sacks, Paul Atkins, Tom Williams, they’ve, Melania Trump, “, wouldn’t, Barron Trump, Donald Trump Jr, Ritchie Torres, cryptocurrency, they’d, ” Marisa Coppel, Rogan, Andreessen, Sid Kalla, Kalla, ” Kalla, Chase, Jamie Dimon, It’s, Sen, Kevin Cramer, ” Cramer, ” Donald Trump, Justin Sullivan, it’s, Obama, Sam Bankman, Paul Grewal, ’ ”, Banks Organizations: Netscape, Treasury Department, JPMorgan, Consumer Financial Protection Bureau, ”, debanking, The Free Press, PayPal, Securities and Exchange Commission, Republican National Convention, Getty, Trump, White House, Blockchain Association, Roll Labs, Turing Holdings, Chase, Labs, Bank Policy Institute, FBI, North Korean, Banking Act, NBC News, Justice Department, Federal Reserve, Federal Deposit Insurance Corp, FDIC, “ Locations: U.S, North Korea, Milwaukee, Nashville , Tennessee, America, New York, Brooklyn Heights, paychecks, North Dakota, Fargo, N.D

The study analyzed the paychecks of nearly 100,000 tip earners at full-service restaurants nationwide. In fact, consumers have said at least since this summer that they’re pulling back on how often they tip workers like waiters, hairstylists and drivers. And at full-service restaurants, tips averaged $21.48 per hour as of September, according to a report released Tuesday by the payments processor Toast. ADP found subminimum pay rules have indeed kept workers afloat at times when gratuities collapsed, just as the system is designed. But “as tips recovered, base wages fell quickly to pre-recession levels.

Persons: —, they’d, Nela Richardson, “, ”, Saru Jayaraman, ” Jayaraman, Jayaraman, unsustainably, gratuities, Donald Trump, Richardson, “ That’s Organizations: ”, “ Workers, D.C, Economic Policy Institute Locations: Wells, Michigan, Washington, “ Michigan, New York City, Los Angeles, Chicago, Illinois, Arizona

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