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☆ What office meltdown? Developers see a shortage of high-end space and are rushing to build it.
▼ + stars: | 2024-10-03 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +12 min

Much of the office market may be mired in a downturn, but demand has been strong for high-end space. New office construction has dropped off sharply, leading to a potential upcoming shortage. That demand has persisted even as office construction has been stifled by higher interest rates and inflation, which have pushed up costs. Worries over the health of the office market have also made lenders reluctant to finance new development. 8 million square feet of that is pre-leased, meaning that there is only about 10 million square feet of upcoming available top quality space.

Persons: —, Hilary Goldfarb, Goldfarb, Crowell, there's, Scott Rechler, Rechler, Vanderbilt, Philippe Visser, CBRE, Visser, Larry Silverstein, Norman Foster, Silverstein, Randolph St, Ross, Stephen Ross, Jordan Rathlev, Rathlev, Jessica Morin, Morin, Banks, RXR, I'm, you'd Organizations: Service, Rockefeller Development, Fifth St, RXR, Skidmore, Owings, Merrill, TF Cornerstone, Grand Central, Citadel, Yards, Companies, Oxford Properties, Hudson, Hudson Yards, KKR, Meta, World Trade Center, American Express, Trade, Related's, Central Locations: Washington ,, Washington, DC, New York, San Francisco, midtown Manhattan, Manhattan, Wells Fargo, BlackRock, Lower Manhattan, Chicago, Fulton, West Palm Beach , Florida, CBRE

☆ The big catalyst for the week: How to trade Friday’s job report
▼ + stars: | 2024-10-02 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

The best-case scenario for stocks is if Friday's jobs report comes in slightly above consensus, according to JPMorgan. Here are the bank's five scenarios: Above 200,000 jobs added: The S & P 500 trades flat or as much as 0.5% higher. Between 160,000 to 200,000 jobs added: The S & P 500 gains between 1% and 1.5%. Between 140,000 to 160,000 jobs added: The S & P 500 rises by 0.75% to 1.25%. Between 110,000 to 140,000 jobs added: JPMorgan traders see the S & P 500 sliding between 0.5% and 1.5%.

Persons: Jerome Powell, Dow Jones, JPMorgan's, Michael Feroli, nonfarm Organizations: JPMorgan, Investors, Federal Locations: U.S

☆ Here are Wednesday's biggest analyst calls: Nvidia, Apple, Tesla, Nike, Meta, Alphabet, Rio Tinto & more
▼ + stars: | 2024-10-02 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

JPMorgan upgrades Parr Pacific to overweight from neutral JPMorgan said the gas exploration and production company has overcorrected. JPMorgan downgrades MercadoLibre to neutral from overweight JPMorgan downgraded the online Latin American marketplace mainly due to valuation. Wells Fargo reiterates Meta as overweight Wells Fargo raised its price target on Meta to $652 per share from $647. JPMorgan upgrades SAIC to overweight from neutral The firm says it sees "profitable growth" for the IT company. Berenberg upgrades Rio Tinto to buy from hold Berenberg says the metals and mining company is a "medium-term diversified winner."

Persons: Roth, DA Davidson, Davidson, PARR, Wolfe, Raymond James downgrades, Raymond James, Guggenheim, Mizuho, it's bullish, tailwinds, Wells, Wells Fargo, Canaccord, Tesla, Berenberg, Baird downgrades Harley, Baird, Harley, Gordon, FANG, Bernstein Organizations: Iren Energy, Industries, JPMorgan, Parr, Northland, TAM, Raymond James downgrades GE, GE, Deutsche Bank, Nike, Absci Corporation, Mizuho, Kodiak, Kodiak Gas Services, Meta, SAIC, IT, Tesla, Mobile, T Bank, Buffalo, Rio Tinto, BHP, Home Depot, Barclays, Diamondback Energy, Nvidia, Apple Locations: OW, Asia, Vegas, Northland, Salesforce, Rio, American

☆ Watch CNBC’s full interview with Trivariate's Adam Parker, JPMorgan’s Jack Manley and Wealth Enhancement’s Ayako Yoshioka
▼ + stars: | 2024-10-02 | 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 Trivariate's Adam Parker, JPMorgan’s Jack Manley and Wealth Enhancement’s Ayako YoshiokaTrivariate's Adam Parker, JPMorgan’s Jack Manley and Wealth Enhancement’s Ayako Yoshioka, join 'Closing Bell' to discuss markets, earnings and China's stimulus impact on U.S. equities.

Persons: Trivariate's Adam Parker, JPMorgan’s Jack Manley, Yoshioka Trivariate's Adam Parker Organizations: Wealth

☆ What screams 'status' on Wall Street? Here's how the movers and shakers of finance are spending their money.
▼ + stars: | 2024-10-02 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +14 min

That said, everyone seemed to agree that the days of logo-forward purchases and other conspicuous signs of wealth are over — even on Wall Street. The industry's movers and shakers are still into name brands but are leaning into those that exude "quiet luxury." And where there are celebrities and influencers, there tend to be Wall Street dealmakers. It's not surprising that high-earners on Wall Street would have second homes (or, in many cases, multiple). The HamptonsThe beach towns of the Hamptons have long been a Wall Street favorite thanks to their proximity to Manhattan.

Persons: —, Ken Griffin, David Solomon, Goldman Sachs, Stephen Schwartzman, Blackstone, Jessica Cadmus, Cadmus, Marie Kondo —, I've, I'd, Zegna, Tom Ford, Claudio Lavenia, Van, Cartier, Jeremy Moeller, Hermes, Gucci, Jeremy Strong, Armani, Max Mara, Celine, Bottega, It's, it's, Sean Zanni, Wall Streeters Organizations: Service, Goldman, JPMorgan, Business, Paris Olympics, Bloomberg, Citadel, Anadolu, Getty, Wall Street, Street, BI, Wall, HBO, Hamptons Locations: Queens, New York, New York City, Africa, Costa Rica, Bottega Veneta, Manhattan, Montauk, Nantucket, Cape Cod, East Hampton , NY, Hudson

☆ A millennial woman says there are benefits to returning to the office, but it hasn't made her more productive
▼ + stars: | 2024-10-02 | by ( Samantha Grindell | ) www.businessinsider.com time to read: +6 min

Advertisement"I knew it was coming," Joy-Ann told BI. She told BI there's a lot to like about being back in a more traditional work environment, but it hasn't made her a more productive employee. Because she works in the office, Joy-Ann said it feels easier to step away from her desk. AdvertisementThat in-person connection can benefit people's careers, as Hannes Schwandt, an associate professor of Human Development and Social Policy, previously told BI. She hasn't seen a productivity boost — yetDespite the benefits, Joy-Ann told BI that working in the office has not made her more productive at her job — at least not yet.

Persons: Ann, —, Joy, hasn't, she's, Hannes Schwandt, Ann said, Ann doesn't, It's Organizations: Service, Amazon, JPMorgan, Apple, Disney, Human, Social Locations: New Jersey, New York City

☆ Biden and other government officials are telling port companies to get a better offer to striking workers ASAP
▼ + stars: | 2024-10-02 | by ( Lian Kit Wee | ) www.businessinsider.com time to read: +4 min

President Joe Biden called for port companies to offer fair deals to striking dockworkers. He and the acting labor secretary, Julie Su, urged dock workers and companies to negotiate. AdvertisementPresident Joe Biden and other government officials are urging port companies to offer stronger contracts to the 45,000 dockworkers on strike at East and Gulf Coast ports. The message from the Biden administration is clear: Companies need to offer a fair deal to the striking workers as soon as possible. Su said the port workers' sacrifices and importance during the pandemic and in helping communities recover from Hurricane Helene weren't fairly reflected in their salaries.

Persons: Joe Biden, Pete Buttigieg, Julie Su, —, Biden, Hurricane Helene, Buttigieg, he'd, she'd, Su, Hurricane Helene weren't, Taft, Hartley Organizations: Service, JPMorgan, Federal Maritime Commission, US Maritime Alliance, International Longshoremen's Association, Associated Press, dockworkers, Department of Labor, Department of Transportation, Business Insider Locations: East, Gulf Coast, Hurricane

☆ Here are JPMorgan's top stock picks heading into October
▼ + stars: | 2024-10-02 | by ( Sean Conlon | ) www.cnbc.com time to read: +4 min

For October, the additions include Best Buy and Carmax , while Wayfair , CarGurus and First Citizens BancShares are among those removed. The bank cited positive existing home sales, and an expansion in AI adoption, believing Best Buy will see continued growth in average selling prices . Analyst Christopher Horvers says Best Buy will increase its profitability over time, noting an uptick in operating margins to 5% from last year's 4.1%. He has an overweight rating on the stock, and his price target of $111 implies more than 9% upside from Tuesday's close. The bank's price target for Schwab implied about 22% upside and for Ulta Beauty about 18% potential appreciation, based on Tuesday's close.

Persons: JPMorgan's, Christopher Horvers, BBY, Eli Lilly, Lilly, Charles Schwab, Schwab Organizations: JPMorgan, Nasdaq, Dow Jones, Wall, AT, TPG Locations: Israel, Richland , Minnesota, Dallas, DirectTV, Lilly, Ireland

It also raised its price target to $210 from $187, suggesting shares could rise more than 17% from Tuesday's close. He maintained his $2,400 price target, which implies 16.2% upside potential from Tuesday's close. Bank of America's Lorraine Hutchinson reiterated her buy rating while trimming her price target to $100 from $104. Deutsche Bank analyst Krisztina Katai also maintained her buy rating and inched down her price target by $3 to $92. He also lowered his price target on shares to $40 from $42, implying upside of just 5.2% over the next 12 months.

Persons: Baird, Davidson, Raymond James, Pavel Molchanov, Molchanov, — Hakyung Kim, FANG, Betty Jiang, Jiang, Diamondback, John Pancari, Pancari, Marcelo Santos, Santos, LatAm, Santo, Elliott Hill, Bank of America's Lorraine Hutchinson, Hutchinson, Krisztina Katai, Katai, Matthew Boss, Boss, Baird downgrades Harley, Craig Kennison, Harley, Kennison, Fred Imbert Organizations: CNBC, GE, General Electric, Barclays, Diamondback, Diamondback Energy, Endeavor, Endeavor Energy Resources, Management, T, T Bank, Federal Reserve, ISI, EA, JPMorgan downgrades, JPMorgan, MercadoLibre, Nike, Bank of, Deutsche Bank, Harley Locations: Tuesday's, Bank of America's, Hill

☆ Beijing's stimulus measures do not appear to directly address country's problems: JPMorgan
▼ + stars: | 2024-10-02 | 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 EmailBeijing's stimulus measures do not appear to directly address country's problems: JPMorganJames Sullivan of JPMorgan explains why he is "cautious" about the big market rally in China.

Persons: JPMorgan James Sullivan, JPMorgan Organizations: JPMorgan Locations: China

☆ Here are the big things pulling the stock market in all different directions
▼ + stars: | 2024-10-02 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Apple Intelligence : Club stock Apple turned positive Wednesday, despite more analysts trimming their 2024 iPhone 16 estimates. Interestingly, Apple Intelligence is the sixth top reason someone would buy a new iPhone, according to a recent survey by JPMorgan analysts. 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, payrolls, Jensen Huang, Levi Strauss, Michelle Gass, Jim Cramer's, Jim Organizations: CNBC, ., U.S, Israel . Semiconductor, Broadcom, Nvidia, Accenture, Financial Times, Amazon, Apple Intelligence, Apple, JPMorgan, Club, Constellation Brands, Modelo, Jim Cramer's Charitable Locations: Iran, Israel, Corona, Pacifico

☆ The US dockworkers strike is here, and it's impacting more than just packages
▼ + stars: | 2024-10-01 | by ( Alex Bitter | ) www.businessinsider.com time to read: +5 min

A strike at ports along the US East and Gulf Coasts presents huge challenges for the economy. The strike could lead to billions in daily economic losses and stall imports ranging from mangoes to auto parts. The dockworkers are pushing for higher wages and a ban on automation at the ports. AdvertisementA major strike at US ports started on Tuesday and could snarl everything from holiday shopping to auto production lines. But the strike could halt shipments of those foods, including mangoes, bananas, and other fresh fruit from Central and South America.

Persons: —, Bruce Chan, Costamare, Alan Murphy, Jonathan Gold, Mia Ginter, Robinson, Joe Biden, Biden, Taft, Hartley, Sean M, O'Brien Organizations: Gulf Coasts, Service, Workers, International Longshoremen's Association, United States Maritime Alliance, JPMorgan, . Shipping, ZIM Integrated Shipping Services, FedEx, UPS, Intelligence, Jefferies, Retailers, National Retail, Joe Biden Trade, National Retail Federation, Teamsters Locations: Maine, Texas, Central, South America, East Coast, West Coast, Taft

☆ With shares at 10-year lows, Assassin's Creed maker Ubisoft faces questions over its future
▼ + stars: | 2024-10-01 | by ( Ryan Browne | ) www.cnbc.com time to read: +8 min

In this article UBI-FR Follow your favorite stocks CREATE FREE ACCOUNTUbisoft postponed the release of the next title in its popular "Assassin's Creed" game franchise — called "Assassin's Creed Shadows" — by three months to Feb. 14, 2025. The company, which produces the "Assassin's Creed" franchise, said in updated guidance last week that it has postponed the release of the next title in the popular game series — called "Assassin's Creed Shadows" — by three months to Feb. 14, 2025. "The revised targets are mainly a reflection of decisions taken for Assassin's Creed Shadows and the softer than expected launch for Star Wars Outlaws," Ubisoft said. Ubisoft said that its learnings from the Star Wars Outlaws release pushed it to give more time to polish Assassin's Creed Shadows. Yves Guillemot, CEO and co-founder of Ubisoft, speaks at the Ubisoft Forward livestream event in Los Angeles, California, on June 12, 2023.

Persons: John Keeble, —, Yves Guillemot, Robyn Beck, AJ, Tencent, George Brown, Daniel Kerven, David W Peat, Ubisoft's, Michael Pachter, Alicia Reese, Kade, James Lockyer, Peel Hunt, Covid, Lockyer Organizations: Ubisoft, Getty, Star Wars, Star, Valve, Games, AFP, AJ Investments, CNBC, Deutsche Bank, Deutsche, JPMorgan, Wedbush Securities, company's Star Wars, Outlaws Locations: Los Angeles , California, France, Montreuil , Paris

☆ Apollo just set a goal to manage $1.2 trillion in private loans by 2029. These 7 slides show how it will get there.
▼ + stars: | 2024-10-01 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +3 min

AdvertisementThe biggest player in non-bank loans has set a massive new goal for itself: more than doubling its $562 billion private lending business to $1.2 trillion in five years. At $1.2 trillion, Apollo will manage as much in loans as JPMorgan Chase last year, according to data tracker Statista. Apollo plans to more than double both its private credit and equity businesses by 2029, which would bring total assets under management to roughly $1.5 trillion. At its last investor day in 2023, it set a goal to hit $1 trillion in total assets under management, including private loans, by 2026. AdvertisementHere's how Apollo plans to grow to over $1 trillion in private lending alone.

Persons: Marc Rowan, —, Blackstone, Rowan, John Zito, JPMorgan Chase, Jamie Dimon Organizations: Service, KKR, Apollo's AG InBev, InBev, Intel, Apollo, JPMorgan

☆ This is how badly the port strike could wreck the US economy
▼ + stars: | 2024-10-01 | by ( Tim Paradis | ) www.businessinsider.com time to read: +5 min

A port workers' strike from Maine to Texas could deliver a major hit to the US economy. AdvertisementA strike involving port workers from Maine to Texas could inflict major damage to the US economy. The affected ports involve about half of the nation's ocean shipping. Analysts at JPMorgan have said the price tag for shutdowns related to the strike could reach $5 billion a day. Given that it's been decades since a major strike unfolded on the East Coast, he said, many companies were also likely caught off guard.

Persons: —, Adam Kamins, Kamins, Mirko Woitzik, Travis Tokar, Tokar, it's Organizations: Service, Moody's, Fed, JPMorgan, Texas Christian University's Neeley School of Business, kiwis Locations: Maine, Texas, Savannah , Georgia, Charleston , South Carolina, Norfolk , Virginia, New York, West Coast, East Coast

☆ Silicon Valley has a plan to save humanity: Just flip on the nuclear reactors
▼ + stars: | 2024-10-01 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

No, the tech that’s going to save humanity will be powered by the tech that very nearly destroyed it. The tech industry’s solution, for now, is nuclear energy, which is more stable than wind or solar and is virtually carbon-emission-free. Amazon is working on putting a data center campus right on the site of a Talen Energy nuclear power plant in Northeast Pennsylvania. And while AI doomer predictions often get brushed off as alarmist forecasts, you can’t as readily dismiss the folks who are concerned about nuclear energy. Bottom line: There’s no AI future without a serious uptick in our power supply, which makes the expansion of nuclear power practically unavoidable.

Persons: CNN Business ’, Sam Altman, Peter Thiel, Anna Erickson, ” Organizations: CNN Business, New York CNN, Nvidia, International Energy Agency, JPMorgan, Microsoft, Energy, Financial Times, Founders Fund, Georgia Tech, Big Locations: New York, Harrisburg , Pennsylvania, Northeast Pennsylvania, Idaho, Big Tech

☆ Here are Monday's biggest analyst calls: Nvidia, Amazon, Tesla, Meta, Disney, Apple, Uber, JPMorgan Chase & more
▼ + stars: | 2024-09-30 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Morgan Stanley upgrades Blackline to overweight from equal weight Morgan Stanley said the software company is undervalued. Morgan Stanley upgrades US Bancorp to overweight from equal weight Morgan Stanley said U.S. Bancorp is well-positioned going forward. Barclays reiterates Tesla as equal weight Barclays says it's not sure the EV maker's upcoming robotaxi day will be a game changer. Morgan Stanley reiterates Apple as overweight Morgan Stanley says the iPhone 16 cycle remains "unchanged" for now for Apple. Morgan Stanley downgrades JPMorgan to equal weight from overweight Morgan Stanley sees better value elsewhere than shares of JPMorgan.

Persons: Wolfe, Hess, Brent, Morgan Stanley, reprice, Cantor Fitzgerald, Cantor, Tesla, it's, Uber, Apple, Goldman Sachs, Goldman, JPMorgan, Piper Sandler, Piper, Forman, Gamble, TD Cowen Organizations: Chevron, Bancorp, U.S, MU, Autodesk, Barclays, Citi, Meta, Apple, Pro, Westlake, Resources, JPMorgan, DIS, Brown, Barclays downgrades Procter, Accenture, UBS, Brookfield, Partners Locations: AVGO, ASML, TER, OW, 4Q24

☆ America is facing a nightmare scenario with a looming strike and wrecked infrastructure after Hurricane Helene
▼ + stars: | 2024-09-30 | by ( Tim Paradis | ) www.businessinsider.com time to read: +5 min

A port strike and the effects of Hurricane Helene could slow the US's transport of goods. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . JPMorgan analysts have estimated that the costs of shutdowns related to the strike could reach $5 billion a day. "The timing of the strike is especially concerning, as the US economy has seen progress in lowering inflation," Mousavian said. Meantime, Angela Blanchard, Houston's chief recovery and resilience officer, argued on X that the response to and recovery from the hurricane would be "significantly impeded" by a strike.

Persons: Hurricane, —, Hurricane Helene, Jon Davis, Amir Mousavian, Mousavian, Jason Greer, haven't, We're, Greer, Angela Blanchard, Houston's, Blanchard Organizations: Service, Longshoremen's Association, JPMorgan, Federal Reserve, University of New England's College of Business, Shipping, Greer Consulting, National Labor Relations Board Locations: Hurricane, Asheville , North Carolina, East Coast, Gulf, Florida , Georgia, North Carolina, West

Elsewhere, TD Cowen raised its price target on Costco to $975. 7:04 a.m.: TD Cowen raises Costco price target TD Cowen is even more bullish on Costco after hosting the company's leadership for a post-earnings meeting. Analyst Brian Bedell reiterated his buy rating and lifted his price target by $3 to $27, implying about 13% upside. With that, analyst Stephen Scouten upgraded Amerant to overweight from neutral and raised his price target by 50 cents to $25.60. — Pia Singh 5:50 a.m.: TD Cowen upgrades Accenture Investors should buy shares of Accenture as the company's recovery gains steam, according to TD Cowen.

Persons: Morgan Stanley, TD Cowen, Cowen, Oliver Chen, Costco's, Chen, Gary Millerchip, — Pia Singh, Brian Bedell, Bedell, Robinhood, Wells, Donald Fandetti, Fandetti, Piper Sandler, Amerant, Stephen Scouten, Scouten, JPMorgan Chase, Betsy Graseck, Graseck, NIM, Bryan Bergin, Bergin, Fred Imbert Organizations: CNBC, JPMorgan Chase, Accenture, Costco, Deutsche Bank, American, Amerant, JPMorgan, Services Locations: Florida, Friday's

Patrick Lenihan, 33, JPMorgan Asset ManagementJP Morgan Asset ManagementAt JPMorgan Asset Management, Lenihan manages $21 billion in 8,000 customizable portfolios that provide generous tax advantages for the firm's clients. The dual role of fund manager and product developer combines his interest in finance with his engineering background. Lenihan led the development of a product that required buy-in from across internal tech teams, third-party partners, and operations. Lenihan also launched a mentoring program that seeks to build connectivity among different teams at the asset manager. "I have learned firsthand about how successful you can be with those close partnerships when you work together, " he said.

Persons: Patrick Lenihan, Lenihan, Ted Dimig Organizations: JPMorgan Asset, Asset Management, JPMorgan Asset Management, JPMorgan, Chrysler, University of Michigan, CFA, Wharton

☆ Jim Cramer sees Abbott becoming a buying opportunity — but says timing is key
▼ + stars: | 2024-09-30 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. A lower S & P 500 close Monday might break the Oscillator's overbrought streak of nine trading days. 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, we've, Jim, Louis, Abbott, St . Louis, Stocks, Jim Cramer's, ABT Organizations: CNBC, Wall, Nasdaq, Dow, Abbott Laboratories, JPMorgan, CVS Health, Ford, General Motors, PayPal Locations: St, St .

☆ Jamie Dimon says the 'Buffett Rule' approach to taxing the wealthy could solve America's debt problem
▼ + stars: | 2024-09-30 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

On PBS, Jamie Dimon described the Buffett Rule as a good idea for clamping down on US debt. AdvertisementJPMorgan CEO Jamie Dimon has put forth a solution to unrestrained US debt: Tax the rich at the same rate as middle-class people, or at a higher rate. It earned its name from the billionaire investor Warren Buffett, who famously criticized the fact that his secretary paid a higher tax rate than he did. If debt remains unchecked amid high interest rates, the government will face higher borrowing costs. AdvertisementOtherwise, higher borrowing costs mean Washington will have less to spend on social initiatives.

Persons: Jamie Dimon, Buffett, —, Dimon, Warren Buffett, Peter G Organizations: PBS, Service, Congressional, Peterson, Democrats, Republicans Locations: Washington

☆ Cramer's Stop Trading: JPMorgan Chase
▼ + stars: | 2024-09-30 | 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 EmailCramer's Stop Trading: JPMorgan ChaseCNBC’s Jim Cramer explains why he is keeping an eye on shares of JPMorgan Chase.

Persons: JPMorgan Chase, Jim Cramer Organizations: JPMorgan, JPMorgan Chase

☆ How Warren Buffett decides when to sell a stock, and why he might be dumping Bank of America
▼ + stars: | 2024-09-29 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

When Warren Buffett, the ultimate buy-and-hold investor, sells a stock, it often sends a negative signal about the underlying business and maybe even the entire industry. "We're more reluctant to sell them than most people," Buffett said of his large positions at Berkshire's annual meeting in 2009. Bank of America sales Many top holdings in Berkshire Hathaway's equity portfolio are decades old — Buffett has held Coca-Cola shares since 1988 and American Express since 1991. Buffett said bank failures in 2008 during the Global Financial Crisis , and again in 2023, lessened confidence in the system, made worse by poor messaging by regulators and politicians. At the time, Buffett foresaw more bank failures down the road , but stuck with his Bank of America investment, partly because he personally negotiated the original deal and admired CEO Brian Moynihan.

Persons: Warren Buffett, Buffett, — Buffett, Goldman Sachs, Wells, BofA, digitalization, fintech, It's, Brian Moynihan Organizations: Herald, Buffalo News, Bank of America, American Express, Oracle, JPMorgan, U.S . Bancorp ., Silicon Valley Bank, First, Signature Bank Locations: Omaha, Berkshire, BofA, Wells Fargo, U.S, U.S . Bancorp . Berkshire, Bank, Silicon, First Republic, saviors

☆ These 3 ugly duckling stocks will become beautiful swans as the Fed cuts rates
▼ + stars: | 2024-09-29 | by ( Jim Cramer | ) www.cnbc.com time to read: +14 min

Some of it had to do with the old joke being that Best Buy was nothing but an Amazon showroom. CEO Corie Barry is a no-nonsense heavyweight who mastered the supply chain for Best Buy during the pandemic. As the JPMorgan recent upgrade on Best Buy said, most investors don't realize how awful this period has been for Best Buy. It doesn't hurt, of course that Best Buy has a substantial dividend — 3.68%, down from 4% and 5% when we were buying it. We have watched Eaton and Dover go higher and that was without the rate cycle, just with the data center.

Persons: Stanley Black, Decker, —, couldn't, Corie Barry, Barry, don't, It's, Stanley, Trump, Helene, Hock Tan, Marc Benioff, Mike Sievert, Blackwell, Jim Cramer's, Jim Cramer, Jim, Melissa Repko Organizations: Empire, Circuit, Intel, HP Inc, HP, JPMorgan, Williams, Dick's Sporting Goods, Abercrombie, Fitch, Depot, Procter, Gamble, Linde, Honeywell, Quantum Computing, Tech, Broadcom, VMWare, Elon, Mobile, Nvidia, Jim Cramer's Charitable, CNBC, Microsoft Locations: Sonoma, Covid, China, Lowe's, Eaton, Dover, San Francisco, Secaucus, N.J

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