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☆ UBS chief Ermotti says resilient inflows and cost-cutting drove second-quarter profit beat
▼ + stars: | 2024-08-14 | 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 EmailUBS chief Ermotti says resilient inflows and cost-cutting drove second-quarter profit beatUBS CEO Sergio Ermotti discusses the Swiss bank's second-quarter results, including wealth management growth, asset derisking, the Credit Suisse integration and the macro outlook.

Persons: Ermotti, Sergio Ermotti Organizations: UBS, Swiss, Credit Suisse

☆ Investors need to be cautious about buying stocks amid real recession risk: Morgan Stanley's LaCamp
▼ + stars: | 2024-08-13 | 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 EmailInvestors need to be cautious about buying stocks amid real recession risk: Morgan Stanley's LaCampJim Lacamp, Morgan Stanley Wealth Management senior vice president, joins 'Money Movers' to discuss whether he is telling clients to buy stocks at today's levels, how to prepare for the risk of recession, and expectations for the Federal Reserve.

Persons: Morgan Stanley's, Jim Lacamp, Morgan Organizations: Morgan Stanley Wealth Management, Federal Reserve

☆ McKnight: Not convinced the small-cap rally will return
▼ + stars: | 2024-08-13 | 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 EmailMcKnight: Not convinced the small-cap rally will returnAlan McKnight, Chief Investment Officer of Regions Wealth Management, discusses inflation and the markets.

Persons: McKnight, Alan McKnight Organizations: Wealth Management

☆ BakerAvenue's King Lip says he's still overweight tech and growth
▼ + stars: | 2024-08-13 | 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 EmailBakerAvenue's King Lip says he's still overweight tech and growthKing Lip, BakerAvenue Wealth Management chief strategist, joins 'Closing Bell' to discuss Google's unveiling of new AI features.

Organizations: Wealth Management

☆ Watch CNBC's full interview with Morgan Stanley's Jim Lacamp
▼ + stars: | 2024-08-13 | 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 Morgan Stanley's Jim LacampJim Lacamp, Morgan Stanley Wealth Management senior vice president, joins 'Money Movers' to discuss whether he is telling clients to buy stocks at today's levels, how to prepare for the risk of recession, and expectations for the Federal Reserve.

Persons: Morgan Stanley's Jim Lacamp Jim Lacamp, Morgan Organizations: Morgan Stanley Wealth Management, Federal Reserve

☆ 'Volatility could remain elevated for quite a while,' strategist says
▼ + stars: | 2024-08-12 | 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'Volatility could remain elevated for quite a while,' strategist saysMatheus Dibo, managing director in the investment strategy group at Goldman Sachs Private Wealth Management, discusses what could lie ahead for markets after recent volatility.

Persons: Matheus Dibo Organizations: Goldman Sachs, Wealth Management

☆ Europe inflation may spike on Olympics and Taylor Swift, but UBS says it won't hit locals' wallets
▼ + stars: | 2024-08-11 | by ( Sean Conlon | ) www.cnbc.com time to read: +7 min

Kevin Voigt | Getty Images Sport | Getty ImagesThe Olympic Games are causing a surge in prices, but French consumers aren't likely to feel its pinch. "The Olympic Games or a Taylor Swift concert create a sudden demand shock," wrote Paul Donovan, chief economist at UBS Global Wealth Management, in a recent analyst note. But in the days after the closing ceremony, Paris hotel bookings are projected to drop from a year ago. Tourists pass near a banner with the Paris 2024 logo before the start of the Paris 2024 Olympic and Paralympic Games on June 17, 2024 in Paris, France. Paris 2024 may generate as much as $12 billion, or 11.1 billion euros, in long-term economic impact, a recent study from the Centre for Law and Economics of Sport estimated.

Persons: Kevin Voigt, Taylor, Paul Donovan, Taylor Swift, Kevin Mazur, Swift, Donovan, Matthias Hangst, it's, ove Organizations: Eiffel, Getty, UBS, UBS Global Wealth Management, Wembley, Olympics, City of Light, Games, CNBC, —, Olympic, Paralympic Games, Paralympics, Paris, Chesnot, Visa, Paris Olympics, Centre for Law, Sport, Olympic Committee Locations: Paris, France, London, City, Greater Paris, U.S, Triomphe, cardholders, Barcelona

☆ These low-volatility stocks have a winning record and are attractively valued
▼ + stars: | 2024-08-11 | by ( Pia Singh | In | ) www.cnbc.com time to read: +4 min

These stocks have low share price volatility over the past five years, and their total return — including share price gains and dividends — are greater than the S & P 500's over the past five years. Take a look at the names below: Health-care companies Amgen , UnitedHealth Group and AbbVie are among the names with low volatility and strong returns in recent years. Pharmaceutical company AbbVie's roughly 262% gain over the past five years is the highest of the stocks in the group. Amgen's share price has a 5-year total return of 104%, making it a steady grower, but still the slowest of the list. Other stocks with low volatility and attractive valuations include automotive replacement parts retailer AutoZone and insurance company Aflac .

Persons: Stocks, They're, Morgan Stanley, Wells, Mohit Bansal, TD Cowen, Kannan Venkateshwar, — CNBC's Christopher Hayes Organizations: CNBC, UnitedHealth, Pharmaceutical, Morgan Stanley Wealth Management, Humira, Barclays, Mobile

☆ Stock futures are little changed ahead of key inflation and retail data: Live updates
▼ + stars: | 2024-08-11 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

U.S. equity futures fell on Sunday evening as investors braced for key inflation data, after almost completely reversing its violent market rout last week. S&P 500 futures dipped 0.08% and Nasdaq 100 futures inched lower by 0.05%. Fear often works in our favor as stock market investors. "Another round of good [inflation] data could help calm fears that the Fed is potentially losing the plot," Cox said. "Retail sales and retailer earnings may show that fears of a job market slowdown are overblown," she added.

Persons: Callie Cox, they'll, Cox Organizations: Dow Jones, Nasdaq, Dow, Ritholtz Wealth Management, CNBC, Walmart

☆ Wealthy investors find opportunities in stock market sell-offs
▼ + stars: | 2024-08-09 | by ( Robert Frank | ) www.nbcnews.com time to read: +7 min

Wealthy investors and family offices shied away from stocks leading up to market swings this week, but many saw the drop in prices as an opportunity for tax savings and estate planning, according to wealth advisors. When stocks tumbled Monday, with the S&P 500 and Nasdaq down 3%, wealthy investors neither panicked nor jumped in to buy, according to several advisors. The drop in prices last Friday and Monday also offered a chance for wealthy investors to take advantage of tax benefits and gift strategies. With the gift and estate exemption amount scheduled to expire at the end of next year, many wealthy investors are working to give away the maximum before the expiration. “Most family offices are so invested in alternatives, hedge funds, PE and real estate, that they aren’t moving their investments around anyway,” said Geoffrey von Kuhn, an advisor to several of the nation’s largest family offices.

Persons: ‘, ’ ”, Sean Apgar, ” Apgar, BBR, —, William Sinclair, ” Sinclair, ”, Jennifer Povlitz, Geoffrey von Kuhn, Richard Weintraub, ” Weintraub, Buffett, Michael Pelzar, ” Pelzar, “, Jimmy Chang Organizations: UBS, Deloitte, Nasdaq, BBR Partners, Morgan Private Bank, Big Tech, “, UBS Wealth Management, Americas, Citi Private Bank, Bank of America Private Bank, ” Advisors, Rockefeller Global Family Locations: U.S, J.P

☆ JPMorgan Chase is giving its employees an AI assistant powered by ChatGPT maker OpenAI
▼ + stars: | 2024-08-09 | by ( Hugh Son | ) www.nbcnews.com time to read: +7 min

Rather than developing its own AI models, JPMorgan designed LLM Suite to be a portal that allows users to tap external large language models — the complex programs underpinning generative AI tools — and launched it with ChatGPT maker OpenAI’s LLM, said the people. ChatGPT banThe bank is giving employees what is essentially OpenAI’s ChatGPT in a JPMorgan-approved wrapper more than a year after it restricted employees from using ChatGPT. The number of uses for generative AI are “exponentially bigger” than previous technology because of how flexible LLMs are, Heitsenrether said. Ultimately, the generative AI field may develop into “five or six big foundational models” that dominate the market, she said. Heitsenrether charted out three stages for the evolution of generative AI at JPMorgan.

Persons: ” Teresa Heitsenrether, “, ChatGPT, Morgan Stanley, Jamie Dimon, Dimon, JPMorgan didn’t, Heitsenrether, ”, “ We’ve, ” Heitsenrether, it’s, — CNBC’s Leslie Picker Organizations: JPMorgan Chase, CNBC, JPMorgan, Apple, Accenture, Citigroup Locations: U.S

☆ Bitcoin plunged 28%. Institutional investors bought the dip
▼ + stars: | 2024-08-09 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +3 min

Up to this point, wealth management businesses have only facilitated trades if customers specifically requested exposure to these new spot crypto funds. Of Morgan Stanley's $1.5 trillion in assets under management, the bank disclosed in a May 13F filing that it held around $270 million in spot bitcoin ETFs. The expectation is that other wirehouses and asset managers, who have been on the sidelines performing in-house due diligence on spot crypto ETFs, might feel the pressure to soon follow Morgan Stanley's lead. The spot ether ETFs, which launched less than three weeks ago, have seen relatively tepid flows compared to the blockbuster launch of spot bitcoin ETFs in January. The bitcoin funds collectively hold $54.30 billion in assets under management, versus $7.25 billion across the spot ether funds.

Persons: Morgan Stanley, Morgan, Morgan Stanley's Organizations: BlackRock, Fidelity Locations: bitcoin, Japan, lockstep

☆ The market is not indicating a recession is imminent, says Charles Schwab's Kevin Gordon
▼ + stars: | 2024-08-09 | 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 EmailThe market is not indicating a recession is imminent, says Charles Schwab's Kevin GordonKevin Gordon, Charles Schwab senior investment strategist and Jose Rasco, HSBC Global Private Banking and Wealth Management Americas CIO, joins 'Closing Bell Overtime' to talk the day's market action.

Persons: Charles Schwab's Kevin Gordon Kevin Gordon, Charles Schwab, Jose Rasco Organizations: HSBC Global Private Banking, Wealth Management

☆ Banks are restricting employees from donating to the Harris-Walz campaign. Here's why.
▼ + stars: | 2024-08-08 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

Financial-services firms risk the wrath of the Securities and Exchange Commission if their employees make campaign contributions to state or local officials such as Walz. Donating to the campaign would violate the regulator's "pay-to-play" rule, which keeps firms from trying to sway politicians for favors such as managing their state's pension fund. Those employees are also required to get permission to donate to the Harris-Walz campaign. It is possible to sidestep the pay-to-play rule by donating to PACs or Super PACs that aren't directly tied to the relevant candidate. "The Pay-to-Play Rule, although well-intentioned, imposes unique, unquantifiable costs on individuals by impeding their ability to participate in the political process."

Persons: —, Joe Biden, Kamala Harris, Tim Walz, Walz, Harris, Donald Trump's, Wells, Mike Pence, Pershing, Patricia Crouse, Crouse, aren't, Hester Peirce Organizations: Service, Street, for Responsive, Democrat, Minnesota Gov, Financial, Securities and Exchange Commission, Business, Citigroup, Citi, JPMorgan, Bank of America, Trump, Pershing, SEC, University of New Locations: Wells Fargo, Indiana, Massachusetts, Tallahassee , Florida, University of New Haven

☆ What you should do with your 401(k) in a highly volatile market
▼ + stars: | 2024-08-07 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +3 min

But if you’re investing in a 401(k), daily market dramas are no reason to take dramatic actions with your portfolio. There will be days when the market is up and days when it’s down. What’s more, Ornstein said, “Typically, the best days in the market follow the worst days.” Over the past 20 years, he added, if you had stayed fully invested in the market throughout, your average annual returns would be nearly twice what they would have been had you missed the 10 best days. Say you set up a portfolio of 70% stocks and 30% bonds but now it’s morphed into a 60/40 portfolio. And since 1960 there have been far more positive annual returns on the S&P 500 than negative ones, Smith said.

Persons: Doug Ornstein, you’re, ” Quincy Krosby, Andy Smith, it’s, Ornstein, Smith Organizations: New, New York CNN, Investment, LPL, Edelman Locations: New York, What’s

☆ Trade Tracker: Josh Brown sells Corning
▼ + stars: | 2024-08-06 | 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 EmailTrade Tracker: Josh Brown sells CorningJosh Brown, CEO at Ritholtz Wealth Management, joins CNBC's "Halftime Report" to explain why he's selling Corning.

Persons: Josh Brown, Corning Josh Brown Organizations: Corning, Ritholtz Wealth Management Locations: Corning

☆ Markets are going through a growth scare but it's not as bad as people think, says Ritholtz' Cox
▼ + stars: | 2024-08-06 | 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 EmailMarkets are going through a growth scare but it's not as bad as people think, says Ritholtz' CoxCallie Cox, Ritholtz Wealth Management chief market strategist, joins 'Money Movers' to discuss how Cox would advise investors regarding the market's sharp pullback, the process for getting market rebalanced, and much more.

Persons: Ritholtz, Cox Callie Cox, Cox Organizations: Ritholtz Wealth Management

☆ 'Babies tossed out with the bath water': Why top strategists aren't scared during the wildest market since March 2020
▼ + stars: | 2024-08-06 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

Related storiesWhile those concerns served as the kindling, it was the July jobs report that sparked terror. A closer look at the jobs report reveals that while job additions underwhelmed, jobless claims were also minimal. AdvertisementSecond-quarter earnings growth has been impressive so far and seems set to rise by low single digits, according to UBS GWM. The bullish strategy chief remarked in a note Monday that six of the 11 market sectors have enjoyed double-digit earnings growth this quarter, while only three have seen declines. "Such sell-offs can offer an opportunity to 'catch babies tossed out with the bath water,'" Stoltzfus wrote.

Persons: —, Oppenheimer, Jonathan Golub, Oppenheimer Jason Draho, Americas Solita Marcelli, Marcelli, Beryl, Draho, That's, David Lefkowitz, John Stoltzfus, Stoltzfus Organizations: Service, Business, UBS, UBS Global Wealth Management, Labor, UBS GWM Locations: Americas

☆ India's ultra-wealthy club is booming — here's where the country's rich are investing
▼ + stars: | 2024-08-06 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +5 min

High-end real estateAbout 30% of India's UHNWI investments go into luxury real estate, including overseas projects, said Alok Saigal, president of wealth management firm Nuvama Private. People have moved away from investing in land as it is less liquid, and more wealth has been allocated to residential real estate since the pandemic, he added. Around 20% of Dubai's offshore real estate pie is owned by Indian investors. Startups' lureInvesting in startups is becoming increasingly popular, especially with the younger generation of rich Indians, wealth managers told CNBC. Bloomberg | Bloomberg | Getty ImagesAbout 17% of India's UHNWIs' wealth goes into luxury goods, with jewelry, art and watches as top preferences, findings from Knight Frank revealed.

Persons: Knight Frank, Alok Saigal, Alok, Chethan Shenoy, Anand, Saigal, Nitin Chengappa, India's, Chengappa, Anand Rathi Wealth's, LVMH Moet Hennessy Louis Organizations: Getty, India, Nuvama Private, Offshore, Nuvama, CNBC, Standard Chartered Bank, Shoppers, DLF, BMI, Bloomberg, Fitch Solutions, LVMH Moet Hennessy Louis Vuitton SA Locations: Mumbai, Beijing, New York, London, UHNWIs, Dubai, Delhi, New Delhi, India

☆ Nvidia, Super Micro Computer lead AI trade carnage with both stocks down more than 12%
▼ + stars: | 2024-08-05 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

With investors in a risk-off mood, AI shares with high valuations were among the first to be dumped from portfolios. Nvidia and Super Micro Computer shed about 12% each before the bell, while Advanced Micro Devices lost about 5%. Megacap technology stocks also sold off during premarket trading, with Alphabet , Meta Platforms and Amazon falling more than 5% each. Major technology stocks — with the exception of Nvidia — wrapped up a busy earnings stretch last week. Nvidia, Alphabet and Meta Platforms pulled back more than 5%, while Microsoft dropped more than 6%.

Persons: Tesla, Warren Buffett's Berkshire Hathaway, Nvidia —, Mark Haefele, Jefferies Organizations: Federal Reserve, Nvidia, Computer, Super, VanEck, Microsoft, Apple, UBS Global Wealth Management

☆ Market sell-off is a 'garden variety correction', says Morgan Stanley's Lisa Shalett
▼ + stars: | 2024-08-05 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarket sell-off is a 'garden variety correction', says Morgan Stanley's Lisa ShalettLisa Shalett, Morgan Stanley Wealth Management CIO, joins 'Closing Bell Overtime' to talk the day's market sell-off and what is driving it.

Persons: Morgan Stanley's Lisa Shalett Lisa Shalett, Morgan Organizations: Email, Morgan Stanley Wealth Management

☆ Trump's tech backers are 'making a big mistake,' Sequoia's Mike Moritz says
▼ + stars: | 2024-08-05 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +3 min

As leading tech investors continue to vocally take sides ahead of the 2024 presidential election, legendary venture capitalist Michael Moritz is making his preference clear. In a Financial Times opinion piece published Monday, Moritz wrote that those in the industry who are supporting Donald Trump "are making a big mistake." Moritz was referring to Trump's conviction, earlier this year, on 34 felony counts in New York State court. Other Trump backers include venture capitalists David Sacks and Joe Lonsdale as well as Doug Leone, Moritz's longtime partner at Sequoia. Moritz wrote in his op-ed that Trump's tech financiers and supporters were "making the same mistake as all powerful people who back authoritarians."

Persons: Michael Moritz, Moritz, Donald Trump, Moritz —, LinkedIn —, Trump, Andreessen Horowitz, Marc Andreessen, Ben Horowitz, Elon Musk, David Sacks, Joe Lonsdale, Doug Leone, Moritz's, He's, Reid Hoffman, Kamala Harris, Joe Biden, VCs, Harris, Kamala, Arnold Schwarzenegger, Mitt Romney, John Kasich's, OpenSecrets Organizations: Sequoia Capital, Google, PayPal, LinkedIn, Trump, Tesla, Sequoia ., Democratic, Trump Lincoln Project, Republican, Tech Locations: Sequoia, New York, Silicon Valley, California, Ohio

☆ Berkshire Hathaway cuts Apple position: Here's what you should know
▼ + stars: | 2024-08-05 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBerkshire Hathaway cuts Apple position: Here's what you should knowJosh Brown, CEO of Ritholtz Wealth Management, joins CNBC's "Halftime Report" to discuss Berkshire cutting its Apple position.

Persons: Berkshire Hathaway, Josh Brown Organizations: Berkshire, Ritholtz Wealth Management

☆ UBS says 'going into Japan now is like catching a falling knife,' warns stock sell-off will continue
▼ + stars: | 2024-08-05 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

watch nowGoing into the Japanese market at this moment is akin to catching "a falling knife," Kelvin Tay, regional chief investment officer at UBS Global Wealth Management, told CNBC's "Squawk Box Asia." Stock Chart Icon Stock chart icon"The only reason why the Japanese market is up so strongly in the last two years is because the Japanese yen has been very, very weak. It strengthened sharply after the BOJ raised its benchmark interest rate last week to around 0.25% and decided to trim its purchases of Japanese government bonds. A stronger yen pressurizes Japanese stock markets, which are heavily dominated by trading houses and export-oriented firms by eroding their competitiveness. Ueda also said the 0.5% interest rate level — Japan has not seen that since 2008 — was not a barrier, and rates could go even higher.

Persons: Kelvin Tay, CNBC's, Tay, Kazuo Ueda, Ueda, — Organizations: UBS Global Wealth Management, Nikkei, U.S, Bank of, Reuters Locations: Japan

☆ Why the Fed is being blamed for the historic stock-market plunge
▼ + stars: | 2024-08-05 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

The Federal Reserve is catching some heat for the historic stock market plunge. AdvertisementThe Federal Reserve is to blame for the historic stock market plunge since last week, according to a growing chorus of market experts. JPMorgan strategist Mislav Matejka said in a Monday note that the lack of Fed rate cuts in the first half of the year will weigh on economic growth in the second half, and that any coming interest rate cuts from the Fed likely won't be enough. AdvertisementRegardless of what the Fed's motivation might be with waiting until September to cut interest rates, the market is taking away a pretty clear message. "There is growing sentiment is that the Fed has waited too long to cut interest rates and is now behind the curve," Comerica Wealth Management CIO John Lynch said.

Persons: —, Wharton, Jeremy Siegel, Siegel, Jerome Powell, Powell, they've, we're, Kamala Harris, Mislav Matejka, Matejka, Paul Volcker, Volcker, DataTrek, Nicholas Colas, John Lynch Organizations: Federal, Service, Federal Reserve, Nasdaq, CNBC, Washington DC, JPMorgan, Fed, Comerica Wealth Management Locations: Iran, Japan, Washington

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