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☆ What Trump's proposed China tariffs could mean for Apple's profits
▼ + stars: | 2024-11-16 | by ( Sean Conlon | ) www.cnbc.com time to read: +6 min

Under a 25% tariff on goods from China, the Wall Street investment bank sees an EPS loss for Apple of 9.2%. Those estimates make Apple the fifth most vulnerable tech company to potential tariffs on goods from China in Morgan Stanley's research coverage. Bank of America analyst Wamsi Mohan agrees, seeing any tariff impact as "manageable." He sees a 60% tariff on Chinese goods possibly resulting in about a 4% hit to Apple's EPS. By contrast, Dell – which he noted looks positioned to be "most vulnerable" to tariffs – could see an EPS impact of up to about 90%, according to his model.

Persons: Donald Trump's, Tim Cook's Apple, Morgan Stanley, Erik Woodring, Trump, Tesla, –, Morgan, it's, Angelo Zino, Zino, Wamsi Mohan, Apple, Bernstein, Toni Sacconaghi, Sacconaghi, It's, BofA's Mohan, Mohan, Jason Snipe Organizations: Apple, Wall, CNBC, of, Bank of America, Dell, Odyssey Capital, Apple Intelligence Locations: China, U.S, India, Vietnam, Malaysia

☆ Inside the secretive operation helping manage billionaire Steve Schwarzman's vast fortune
▼ + stars: | 2024-11-15 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +14 min

Schwarzman has called Blackstone his family office, but he has another family office, BI has learned. Inside Schwarzman's secretive family office with a name that harkens back to his childhood. The concept of the family office can be traced to the 1838 founding of the House of Morgan to handle J.P. Morgan's fortune. Every family office, however, is just as unique as the wealthy family that's spawned it, he said. Advertisement"The term family office," Sharpe said, "is possibly the most misused, overused, and poorly used term in finance today."

Persons: Steve Schwarzman, Schwarzman, Blackstone, —, Averell Harriman, Harriman, Brown, Harry Truman, Donald Trump, Christine Hearst Schwarzman, Gwen Stefani, Theo Wargo, Pennypack, Steve Schwarzman's, Blackstone Schwarzman, Pete Peterson, Marc Sharpe, Michael Dell, Sharpe, they're, Stephen A, John Magliano, Magliano, Paul A ., LLCs, tony Easton, Hearst, Alexi Rosenfeld, Trump's, Stephen Schwarzman, Jabin, Tim Sheehy, Montana, Sheehy, Morgan Organizations: Service, Bloomberg, Ford Motor Co, White, New York Public Library, Metropolitan, Bank of America Securities Financial Services, Blackstone, Vanguard, Family Office Association, Dell Computer, BI, Getty, Schwarzman, LinkedIn, Hearst Schwarzman, Art, Federal Communications Commission, MIT, Humanities, Oxford, New York Public, Schwarzman Education Foundation, Tsinghua University, Policy, Washington, Getty Images Locations: New York, Vietnam, Manhattan, Philadelphia, Blackstone, Schwarzman, Pennypack, Delaware, Nantucket , Massachusetts, Nantucket, Schwarzman's, Newport , Rhode Island, Miramar, Wiltshire, England, Newport ., Beijing, China, North America

☆ Who Trump picks to fight his trade battles is apparently important to financial markets
▼ + stars: | 2024-11-11 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Chatter that President-elect Donald Trump could appoint former U.S. Trade Representative Robert Lighthizer to oversee trade policy is moving markets, from the dollar on currency exchanges to stocks that would be sensitive to tariffs. During Trump's first term as the president, Lighthizer was central to his protectionist policy and was U.S. trade representative role when Trump launched the trade war with China. "Any clues on Trump's appointments may be market moving," Jim Reid, research strategist at Deutsche Bank, said in a note. Trump's policy proposals to cut taxes and slap tariffs on imports are believed to undermine the currencies of some of America's biggest trading partners. Bank of America tracks a basket of consumer stocks with high exposure to China tariffs, and these companies plunged on Friday.

Persons: Donald Trump, Robert Lighthizer, Lighthizer, Trump, Jim Reid, Kamala Harris, hasn't Organizations: . Trade, Financial Times, Deutsche Bank, US Trade Representative, Trump, CNN, Reuters, Bank of America Locations: U.S, China

☆ 8 U.S. cities where people are moving to live cheaply: They'd 'rather pack their bags than pay a higher rent,' expert says
▼ + stars: | 2024-11-07 | by ( Celia Fernandez | ) www.cnbc.com time to read: +3 min

The Bank of America Institute found the top eight cities where people are moving for cheaper rent. "Consumers would rather pack their bags than pay a higher rent, and that can play out in two ways," Joe Wadford, an economist at the Bank of America Institute, tells CNBC Make It. Cleveland, Ohio Ken Redding | The Image Bank | Getty ImagesTop 8 U.S. cities where people are moving for cheaper rentCleveland, OhioIndianapolis, Ind. The state of Ohio had two cities land in the top 8 on the Bank of America Institute list. The city is home to major sports teams like the Cleveland Cavaliers, the Cleveland Guardians, and the Cleveland Browns.

Persons: Major metropolises, Joe Wadford, Wadford, Cleveland , Ohio Ken Redding, Bill Dickinson Organizations: of America Institute, Bank of America Institute, Bank of America, Las Vegas , Nevada Eyeem Mobile, Istock, Getty, CNBC, Bank, Cleveland, Cleveland Cavaliers, Cleveland Guardians, Cleveland Browns, Roll Hall of Fame, Cleveland Museum of Art, Columbus, Columbus Ohio Sky Locations: Las Vegas , Nevada, West, Northeast, New York, Boston, San Francisco, San Jose, Los Angeles, Cleveland , Ohio, Cleveland , Ohio Indianapolis, Ind, Las Vegas, Nev, Columbus , Ohio Jacksonville, Fla, Austin , Texas Phoenix, Ariz, Nashville, Tenn, Ohio, U.S, Columbus Ohio

☆ I'm a college student who pays nearly $1,000 in annual fees for 4 credit cards. It's worth it for good credit and travel perks.
▼ + stars: | 2024-11-06 | by ( Lauren Crosmedlicott | ) www.businessinsider.com time to read: +7 min

She got her first credit card as a freshman to build up her credit score and kept a strict budget. Griffin now uses her AmEx cards to earn points for travel costs and flew to Japan for free. I'd marked all the due dates in my calendar, and I was never late for a credit card payment. AdvertisementIn addition to all the benefits I've received when traveling, my credit cards helped me raise my credit score to 755. I never stop learning about financeI think college students should consider getting a student credit card with no fee.

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Capital One Quicksilver Student Cash Rewards Credit Card OverviewCapital One Quicksilver Student Cash Rewards Credit Card Apply now lock icon An icon in the shape of lock. Capital One Savor Student Cash Rewards Card ReviewCapital One Quicksilver Student Card vs. the Bank of America® Unlimited Cash Rewards Credit Card for StudentsThe Bank of America® Unlimited Cash Rewards Credit Card for Students is another strong option, offering a flat 1.5% cash back on all purchases, similar to the Capital One Quicksilver Student card. Bank of America Unlimited Cash Rewards Card for Students ReviewCapital One Quicksilver Student Card Frequently Asked QuestionsWhat is the difference between Quicksilver Rewards and Quicksilver Rewards for Student? The difference between the Quicksilver Rewards Card and the Quicksilver Rewards Card for Students is that the former offers more perks. Why You Should Trust Us: How We Reviewed the Capital One Quicksilver Student Cash Rewards Credit CardOur experts evaluated the Capital One Quicksilver Student Cash Rewards Credit Card relative to other student credit cards and cards for folks with fair or average credit.

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☆ More families making over $150,000 are living paycheck to paycheck
▼ + stars: | 2024-10-27 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +3 min

CNN —When considering who is living paycheck to paycheck, households with an income of six-figures or more likely aren’t the first to come to mind. But, as it turns out, about a fifth of US households that earn more than $150,000 a year are in that situation. Across all income levels, households that earn less than $50,000 a year saw the highest proportion, around 35%, of people living paycheck to paycheck so far this year. But at higher income levels, the portion of households living paycheck to paycheck falls slowly. For instance, the share of households living paycheck to paycheck and earning between $50,000 and $75,000 is only a few percentage points higher than households earning more than $150,000.

Persons: ” David Tinsley, Tinsley Organizations: CNN, Bank of America, Bank of America Institute, Labor Department

☆ Gold is the 'last safe haven' as Treasurys face risks from soaring US debt, Bank of America says
▼ + stars: | 2024-10-17 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Traders and central banks should increase exposure to gold, Bank of America says. The analysts see gold hitting $3,000 an ounce by the end of next year, implying 11% upside. AdvertisementGold is increasingly attractive as other traditional "safe haven" assets face mounting risks, Bank of America strategists said. "Gold looks to be the last 'safe haven' asset standing, incentivising traders including central banks to increase exposure," the strategists said in a Wednesday note. The Bank of America analysts note that gold now makes up 10% of central bank reserves, up from 3% a decade ago.

Persons: — Organizations: Bank of America, Service, International Monetary Fund, US Treasury, Investors, Federal Reserve

☆ Bank of America thinks this senior housing stock trouncing the market has another 50% run to go
▼ + stars: | 2024-10-14 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

Unappreciated aspects of Welltower , a real estate investment trust, or REIT, that invests in health-care infrastructure, are likely to translate into long-term growth ahead, according to Bank of America. Analyst Joshua Dennerlein reiterated his buy rating on the S & P 500 company, which owns senior housing as well as post-acute care and outpatient medical facilities. He also increased his price target by $61 to $190, the highest on the Street, according to FactSet, which implies nearly 52% upside from Friday's close. This year, the stock has been on a monster run, soaring about 41%, excluding reinvested dividends, versus 22.5% for the S & P 500. The Bank of America recommendation joins several other analysts on Wall Street who are bullish on Welltower.

Persons: Joshua Dennerlein, Welltower, Dennerlein, — Organizations: Bank of America, of, Wall Locations: Toledo , Ohio

☆ China's real estate stimulus could boost this stock, analysts say
▼ + stars: | 2024-10-13 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

While China's property development giants find their footing amid the ongoing real estate slump, several analysts have their sights on housing transaction and services platform KE Holdings . The stock also trades in Hong Kong. In contrast, an index of Chinese property stocks in Hong Kong has gained just under 3% for the year after a volatile three weeks. But China's giant property developers now face a market that's very different from the one they saw in their heyday. Goldman has a price target of 54 Hong Kong dollars ($6.95) and $21 for the company's U.S.-listed shares.

Persons: Jefferies, Xi Jinping, Richard Tang, Hong Kong, Julius Baer, Tang, Goldman Sachs, Goldman, — CNBC's Michael Bloom Organizations: KE, KE Holdings, Jefferies, CNBC, People's Bank of, Bank of America Securities, Bank of America, BofA Securities, Goldman, Hong Locations: U.S, Hong Kong, Friday's, China, People's Bank of China, Beijing, Hong

☆ Here's why this week's inflation report could be a big market mover
▼ + stars: | 2024-10-07 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

Inflation could be a market-driving fear again this week when September data is released, according to Bank of America. But last week's stronger-than-expected jobs report has shaken up the consensus outlook for the economy. "After the blowout jobs report, CPI is no longer a 'non-event.' The CPI report is due out before the opening bell Thursday. Economists surveyed by Dow Jones expect the CPI report to show a 0.1% increase in September and a 2.3% rise from 12 months earlier.

Persons: Dow Jones Organizations: Bank of America, Federal

Best Credit Cards for Amazon of 2024Compare the Best Amazon Credit CardsEarn 5% back at Amazon and Whole Foods Prime Visa Apply now lock icon An icon in the shape of lock. Best Credit Card for Amazon ReviewsPrime VisaThe best credit card for Amazon and Whole Foods purchases is the Prime Visa. Best Credit Card for Amazon Frequently Asked QuestionsWhat are the main benefits of credit cards for Amazon purchases? Compared to other rewards cards, Amazon credit cards offer higher cashback rates on purchases made at Amazon and Whole Foods. There are four personal Amazon credit cards: The Prime Visa, Amazon Visa, Amazon Store Card, and the Amazon Secured Card.

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The information for the following product(s) has been collected independently by Business Insider: U.S. Bank Shopper Cash Rewards™ Visa Signature® Card, My Best Buy® Visa® Card, U.S. Bank Cash+® Visa Signature® Card, Citi Custom Cash℠ Card, Citi® Double Cash Card. Introduction to Store Credit CardsStore credit cards can be incredibly enticing for shoppers looking to save at their favorite retailers. Closed-Loop Credit Cards vs. Open-Loop Credit CardsThere are two types of store cards: closed-loop cards that can be used only within a specific store (or website), and open-loop cards that can be utilized anywhere most credit cards are accepted. Ulta Credit CardUlta has a closed-loop Ulta Beauty Rewards™ Credit Card and the open-loop Ulta Beauty Rewards™ Mastercard® Credit Card. Store Credit Card Frequently Asked QuestionsWho is the Best Buy store card through?

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The information for the following product(s) has been collected independently by Business Insider: Bank of America® Customized Cash Rewards Secured Credit Card, Bank of America® Unlimited Cash Rewards Secured Credit Card, BankAmericard® Secured Credit Card, Bank of America® Customized Cash Rewards Credit Card for Students. Bank of America Customized Cash Secured Card ComparisonIf you're considering the Bank of America® Customized Cash Rewards Secured Credit Card, compare it to other secured credit cards such as the Capital One Quicksilver Secured Cash Rewards Credit Card and Discover it® Secured Credit Card. Bank of America® Customized Cash Rewards Secured Credit Card vs. Bank of America® Unlimited Cash Rewards Secured Credit CardBoth the Bank of America® Customized Cash Rewards Secured Credit Card and the Bank of America® Unlimited Cash Rewards Secured Credit Card have a $200 minimum security deposit, and both cards earn rewards. Bank of America® Customized Cash Rewards Secured Credit Card vs. Capital One Quicksilver Secured Cash Rewards Credit CardThe Capital One Quicksilver Secured Cash Rewards Credit Card could be a good alternative to the Bank of America® Customized Cash Rewards Secured Credit Card if you prefer its rewards structure. We're including this card comparison as a cautionary tale: If you're evaluating a Bank of America secured credit card, go with either the Bank of America® Customized Cash Rewards Secured Credit Card or the Bank of America® Unlimited Cash Rewards Secured Credit Card.

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☆ China's stock markets are partying like it's 2008, overwhelming systems
▼ + stars: | 2024-09-27 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

China's stock markets surged this week, marking the best weekly performance since late 2008. AdvertisementChina's stock markets closed sharply higher Friday, notching their best week in 16 years as investors joined the rally party. The stock market party overwhelmed tech systemsThe stock market party got too hot to handle. AdvertisementFurthermore, the US Federal Reserve has started cutting interest rates, which has historically benefited Chinese markets, they added. So even if Beijing's stimulus isn't enough for China's economy, a liquidity or leverage-driven market rally could still be "very powerful," they wrote.

Persons: —, Vishnu Varathan, Hong, Hao Hong, Pan Gongsheng, Data.TS, Freya Beamish, Rory Green Organizations: Service, Grow Investment, Shanghai Stock Exchange, of America, Bank of America, US Federal Reserve, People's Bank of China Locations: China, Beijing, Asia, Japan, Shanghai, India

These are the best credit cards for bad credit in 2024, according to Business Insider's team of credit card experts. Discover it Secured Credit Card ReviewBest for 1.5% Cash Back: Capital One Quicksilver Secured Cash Rewards Credit CardThe Capital One Quicksilver Secured Cash Rewards Credit Card is a secured credit card that earns a straightforward 1.5% cash back on all purchases with no limits. US Bank Altitude Go Secured Credit Card ReviewBest for Everyday Expenses: Bank of America® Customized Cash Rewards Secured Credit CardThe Bank of America® Customized Cash Rewards Secured Credit Card is another good option for maximizing your rewards earnings. Credit Cards for Bad Credit Frequently Asked QuestionsWhat are the main benefits of credit cards for bad credit? Upgrade to an unsecured credit card — Secured credit cards are meant to be a stepping stone to better financial products.

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☆ France's biggest lender says there are 'too many' European banks as UniCredit moves on Commerzbank
▼ + stars: | 2024-09-26 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +2 min

A sign on the exterior of a BNP Paribas SA bank branch in Paris, France, on Friday, Aug. 2, 2024. France's BNP Paribas on Thursday said there are simply too many European lenders for the region to be able to compete with rivals from the U.S. and Asia, calling for the creation of more homegrown heavyweight banking champions. Milan-based UniCredit has ratcheted up the pressure on Frankfurt-based Commerzbank in recent weeks as it seeks to become the biggest investor in Germany's second-largest lender with a 21% stake. UniCredit, which took a 9% stake in Commerzbank earlier this month, appears to have caught German authorities off guard with the potential multibillion-euro merger. Germany's position on UniCredit's swoop has prompted some to accuse Berlin of favoring European banking integration only on its own terms.

Persons: CNBC's Charlotte Reed, Lars Machenil, Germany's Commerzbank, Machenil, Olaf Scholz, Scholz, Berlin Organizations: BNP, SA, Bank of America Financials, Spain's BBVA, Banco Sabadell Locations: Paris, France, U.S, Asia, Europe, Milan, Frankfurt, Germany's

☆ It takes more than a year for monetary policies to come through, BofA strategist says
▼ + stars: | 2024-09-25 | 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 EmailIt takes more than a year for monetary policies to come through, BofA strategist saysSebastian Raedler, head of European equity strategy at the Bank of America, discusses the impact of the Fed monetary policy on the U.S. market at the BofA Financials CEO conference in London.

Persons: Sebastian Raedler Organizations: Bank of America Locations: London

☆ It's a big week for central banks around the world, with a slew of rate moves on the table
▼ + stars: | 2024-09-16 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +5 min

Kevin Dietsch | Getty ImagesA flurry of major central banks will hold monetary policy meetings this week, with investors bracing for interest rate moves in either direction. The U.S. central bank is widely expected to join others around the world in starting its own rate-cutting cycle. Elsewhere, Brazil's central bank is scheduled to hold its next policy meeting across Tuesday and Wednesday. Traffic outside the Central Bank of Brazil headquarters in Brasilia, Brazil, on Monday, June 17, 2024. The central bank delivered its first interest rate cut in more than four years at the start of August.

Persons: Jerome Powell, William McChesney Martin, Kevin Dietsch, John Bilton, CNBC's, Bilton, David Volpe, Volpe, 25bps, Wilson Ferrarezi, BOE, Ruben Segura Cayuela Organizations: Federal Reserves, Washington , D.C, Federal, Traders, The Bank of England, Norway's Norges Bank, South Africa's, Bank, Bank of Japan, Morgan Asset Management, European, Bank of England, ECB, Emerald Asset Management, Banco Central, TS Lombard, Central Bank of, Bloomberg, Getty, Reuters, Bank of America Locations: Washington ,, U.S, Brazil's, Brazil, Central Bank of Brazil, Brasilia, South Africa, Norway, Japan

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☆ Cautious Chinese travelers are taking more last-minute trips as economy struggles
▼ + stars: | 2024-09-10 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +1 min

HAIKOU, CHINA - SEPTEMBER 08: Passengers wait in line to check in at Haikou Meilan International Airport on September 8, 2024 in Haikou, Hainan Province of China. (Photo by Luo Yunfei/China News Service/VCG via Getty Images)Chinese travelers are taking more last-minute trips as they become more cautious with spending amid a lackluster economic recovery. Travelers are planning trips closer to departure as they try to "take advantage of last-minute deals," economists at Oxford Economics told CNBC, noting a shift in consumer preferences where "modern travelers prefer spontaneity in their travel plans." Chinese consumers have become more frugal on everything, from groceries to travel, as the world's second-largest economy grapples with a protracted property crisis and high unemployment. "While people still want to go on holiday, sentiment regarding incomes and consumption remains low," according to economists at Oxford Economics.

Persons: Luo Yunfei, Anthony Caputano, Patrick Body Organizations: China News Service, Getty Images, Marriott International, Bank of America, Lodging Conference, Oxford Economics, CNBC, Cheung Kong Graduate School of Business Locations: HAIKOU, CHINA, Haikou, Hainan Province, China

The information for the following product(s) has been collected independently by Business Insider: Bank of America Premium Rewards Elite, Bank of America® Premium Rewards® credit card. Introduction to the Bank of America Premium Rewards Elite CardAs a high-end travel rewards card, the Bank of America Premium Rewards Elite offers several ways to earn rewards and solid cardholder benefits. Bank of America Premium Rewards Elite Credit Card Cardholder InsightsMembers of online forums such as Flyertalk and Reddit generally give the Bank of America Premium Rewards Elite card positive reviews. Bank of America Premium Rewards Elite Card ComparisonSeveral premium rewards credit cards compete directly with the Bank of America Premium Rewards Elite card. Bank of America Premium Rewards Elite Frequently Asked QuestionsWhat are the main benefits of the Bank of America Premium Rewards Elite Credit Card?

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☆ Dell and Palantir to join S&P 500; shares of both jump
▼ + stars: | 2024-09-06 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Dell and Palantir both jumped about 7% in extended trading Friday after S&P Global announced that the companies would join the S&P 500 index. Software maker Palantir will take the place of American Airlines , and Dell is replacing Etsy , according to a statement. Dell told investors Aug. 29 that it saw $3.2 billion in AI server demand in the quarter ended Aug. 2, up 23% from the prior quarter. Palantir has a market cap of over $67 billion, while Dell is valued at over $72 billion. In an early Friday email, the Bank of America trading desk named Workday among its top candidates for S&P inclusion, alongside Palantir.

Persons: Dell, Palantir, Michael Dell, Lake, Alex Karp, it's, Karp, — CNBC's Ari Levy Organizations: P Global, American Airlines, Dell, Micro Computer, New York Stock Exchange, New York Times, Bank of America, & ' $

☆ American demand for international trips drives 'travel momentum' and overall spending
▼ + stars: | 2024-09-02 | by ( Greg Iacurci | ) www.cnbc.com time to read: +1 min

Travel spending among American households continues to outpace its pre-pandemic levels, a trend underpinned by a zeal for international trips, according to new Bank of America research. "A key part of travel momentum lies within vacationing abroad," Taylor Bowley and Joe Wadford, economists at the Bank of America Institute, wrote in a note Wednesday. Overall, travel spending is down slightly from 2023, yet it remains "much higher" than 2019 — up by 10.6% per household, they wrote, citing Bank of America credit and debit card data from January to mid-August. About 17% of Americans said in June that they intended to vacation abroad during the next six months, up from roughly 14% in 2018 and 2019, according to a recent Conference Board survey. "I do expect the demand to continue," said Hayley Berg, lead economist at travel site Hopper.

Persons: Taylor Bowley, Joe Wadford, Taylor, Wadford, Hayley Berg, Hopper Organizations: Bank of America, Bank of America Institute, Finance, Board

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