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☆ These stocks are looking mighty cheap going into earnings season
▼ + stars: | 2023-10-10 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

The third-quarter earnings season is set to kick off this week, with certain stocks trading at attractive valuations. Going into earnings, 76 companies in the S & P 500 have already issued negative earnings per share guidance for the third quarter, compared to 42 companies that have announced positive earnings per share guidance, FactSet data shows. With this in mind, CNBC Pro screened for stocks with growing earnings that are also trading at a discount. Growing earnings: Earnings per share have grown more than 20% over the past 12 months. The company's trailing 12 months P/E ratio is 6.3, significantly lower than the five-year average P/E of 22.61.

Persons: — CNBC's Michael Bloom Organizations: Delta Air Lines, Infosys, JPMorgan Chase, Citigroup, PNC Financial Services, Wells, CNBC Pro, Major U.S, Delta, United Airlines, Devon Energy, Semiconductor, Qualcomm Locations: Blackrock, Oil, Monday's, Israel

☆ After buying an oversold market last week, here are 3 things to watch next week
▼ + stars: | 2023-10-07 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Even with a modest bounce Friday, U.S. crude prices fell nearly 9% this week — their worst weekly performance since March. US10Y YTD mountain 10-year Treasury yield year to date performance Here are three major developments to watch in the week ahead. September headline PPI is expected to rise 0.3% month over month and 1.6% year over year. As for CPI, economists are looking for a September headline reading of up 0.3% month over month and 3.6% year over year. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Dow, —, We'll, Wells Fargo, Banks, we'll, Jamie Dimon, Morgan Stanley, Wells, JPMorgan Chase, Jim Cramer's, Jim Cramer, Jim, Daniel Acker Organizations: Labor Department, Nasdaq, Federal Reserve, Companies, CPI, JPMorgan Chase, PepsiCo, Air, DAL, Walgreens Boots Alliance, Commercial Metals, Infosys Tech, SMART, JPMorgan, Citigroup, PNC Financial, PNC, Jim Cramer's Charitable, CNBC, Bloomberg, Getty Locations: U.S, Wells Fargo, BlackRock

☆ Barclays says rates will keep going higher until there is a deeper stock sell-off
▼ + stars: | 2023-10-05 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

The steep decline in the bond market — and the accompanying move up in interest rates — will only stop if the sell-off in stocks accelerates, according to Barclays. "Despite the breathtaking sell-off in longer rates, we do not see a clear catalyst to stem the bleeding. Absent that, there is no sustained bond stabilization and, given how risk assets are finally responding to bonds, no stabilization in risk assets, either. Traders often look to the Federal Reserve in times of bond market stress, as the central bank has in the past stepped in to calm the Treasury market. "The only way the Fed could help longer yields is by hiking so aggressively that markets are convinced a recession is imminent and rush to buy longer rates.

Persons: Ajay Rajadhyaksha, Rajadhyaksha, — CNBC's Michael Bloom Organizations: Barclays, Treasury, Traders, Federal Reserve Locations: U.S

☆ A financially independent 32-year-old who grew up in a cash-strapped household shares the simple but life-changing money advice he received from a high school teacher
▼ + stars: | 2023-10-04 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +6 min

Without the encouragement of his teacher, he wouldn't have started investing as early as he did — and may not have even started at all. One of the most popular passive investing approaches is to buy an index fund. Insider has spoken to a handful of investors who have used index investing to build wealth . More than 95% of their stock-market money is in three index funds : the Vanguard Total Stock Market Index Fund ( VTSAX ), the Vanguard Total International Stock Index Fund ( VTIAX ), and the Vanguard Emerging Markets Stock Index Fund ( VEMAX ). But she learned through trial and error that investing in index funds is simple and effective.

Persons: Erik Smolinski's, Smolinski, wouldn't, He's, Erik Smolinski Smolinski, , that's, Brennan, Erin Schlagbaum, Chloé Daniels, That's Organizations: Apple, Netflix, Microsoft, Market Index, Vanguard, Index

☆ The benchmark for small cap stocks — the Russell 2000 — turned negative for the year
▼ + stars: | 2023-10-02 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

A major benchmark for U.S. stocks — the Russell 2000 index — turned negative for the year on Monday, an indicator of broader weakness occurring in the economy that's being masked by a few large cap tech equities. Lending is also often more difficult for small cap companies versus larger cap names, which are can negotiate lower lending rates. The Russell 2000 has higher sector weight in financials, which makes it more leveraged toward interest rate conditions, said Bespoke Investment Group co-founder Paul Hickey. "So if you put all those factors together, I wouldn't say that the Russell 2000 is a canary in the coal mine. The strategist believes that easing pressure on interest rates should result help the small cap index bounce back from its oversold period.

Persons: Russell, —, Jeff Corey, Corey, Paul Hickey, it's, Hickey Organizations: New York Stock Exchange, Nasdaq, Claro Advisors, Investment Group Locations: New York City, U.S, financials

☆ Here's how stocks typically do when the government shuts down
▼ + stars: | 2023-09-29 | by ( Fred Imbert | ) www.cnbc.com time to read: +1 min

That might not be bad news for the stock market after all. Data compiled by Raymond James shows the S & P 500 has averaged a 3.2% gain during government shutdowns going back to 1995. The most recent one, which took place between late 2018 and early 2019 and lasted 22 trading days, saw the S & P 500 rally more than 10%. In fact, the broad market index has posted gains in every shutdown period tracked by Raymond James. Bank of America economist Stephen Juneau also said, "the economic hit is usually modest," adding that shutdowns "do not impact market functioning."

Persons: Raymond James, shutdowns, Peter Boockvar, Stephen Juneau, — CNBC's Michael Bloom Organizations: Bleakley Financial, Bank of America

☆ History shows this pullback in Apple may have further to go
▼ + stars: | 2023-09-29 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Magnificent Seven member Apple has seen its stock come under pressure in recent weeks. Apple shares are down 14% after peaking in mid-July. While the company officially released the iPhone 15 line on Sept. 15 to lead times near all-time records, Morgan Stanley noted that investor sentiment remains "overwhelming[ly] bearish on Apple." "Over the past 5 years, there have been 7 times where Apple shares have fallen 15%+. Within three months after the stock trough, Apple has managed to outperform the broad market index by 10 to 15 percentage points on average, the analyst noted.

Persons: Morgan Stanley, Apple, Erik Woodring, Woodring, —, Michael Bloom Organizations: Apple, Huawei Locations: China, Asia

☆ History shows a September stock sell-off typically begets a fourth-quarter rally
▼ + stars: | 2023-09-28 | by ( Fred Imbert | ) www.cnbc.com time to read: +1 min

September's sell-off may have taken many investors by surprise after a hot start to the year. But history shows such pullbacks are actually pretty common. The broader market index typically rebounds following such sell-offs, averaging a gain of 5% between October and December, the bank said. The S & P 500 is down more than 6% since the end of July, losing more than 1.7% in August and 4.5% in September. The bottom line: The market has a history of losing steam between August and September after rallying to start a year.

Persons: September's, Ritesh Samadhiya, Samadhiya, — CNBC's Michael Bloom Organizations: Bank of America, Federal Reserve

☆ The U.S. is nearing a government shutdown. What that means for stocks and how we're playing it
▼ + stars: | 2023-09-28 | by ( Morgan Chittum | ) www.cnbc.com time to read: +7 min

The U.S. is just days from a federal government shutdown at 12:01 a.m. Goldman Sachs put the chances of a shutdown at 90%, saying it could last around two to three weeks. "In the seemingly unlikely event Congress passes a short-term extension, we would still expect a shutdown sometime later in Q4," which begins on Monday. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Morgan Stanley, Raymond James, Ed Mills, Jim Cramer, Jerome Powell, What's, Moody's, It's, Goldman Sachs, we've, Jim Cramer's, Jim, Brendan SMIALOWSKI, BRENDAN SMIALOWSKI, Brendan Smialowski Organizations: Capitol, United Auto Workers, General Motors, Chrysler, Ford, Reserve, Fed, Social Security, AAA, Jim Cramer's Charitable, CNBC, Republican, Getty, Afp Locations: Central, U.S, Washington ,, AFP

☆ A 30 year old who built up a net worth of more than $1 million and quit his day job says he primarily invests in 2 types of funds — and explains why he diversifies with real estate instead of bonds
▼ + stars: | 2023-09-27 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +9 min

He quit his day job in March 2022 to build his personal finance brand, Defining Wealth, and coaching business full-time. The 30 year old shared his investment strategy, including the types of funds he invests in and why he prefers buy-and-hold real estate. Most of his stock-market money is invested in two types of funds, he told Insider: a broad US fund and a broad international fund. He started investing in real estate in 2018 in Orlando, Florida, where he lived at the time. What Wright likes about investing in real estate is that "you're buying an asset that's producing income," he said.

Persons: Tyler Wright, I'd, Wright, I've, Tyler Wright Wright, I'm, he'd Organizations: University of Central, Vanguard, Fidelity, Index Fund, Facebook, Google, Apple Locations: University of Central Florida, cryptocurrency, Nashville, Orlando , Florida, Orlando, Tennessee

☆ Jamie Dimon says India optimism is 'completely justified'
▼ + stars: | 2023-09-26 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +2 min

I think the optimism of India is actually completely justified," Dimon told CNBC-TV18's Shereen Bhan at the conference Monday . LONDON — JPMorgan Chase Chairman and CEO Jamie Dimon struck a bullish tone at the India Investor Summit, saying the optimism surrounding the country at the moment is "completely justified." The bank has increased its employee numbers in India from around 6,000 in 2005 to 60,000 today, Dimon added. India became the world's most populous country in April, with a total of 1.4 billion citizens, according to the United Nations. In his interview with CNBC-TV18, Dimon emphasized that it wasn't just a lack of confidence in China that was turning businesses towards India.

Persons: Dimon, Jamie Dimon, Narendra Modi, We're, It's, Morgan Stanley, Goldman Sachs, Olaf Scholz, Scholz, Modi Organizations: CNBC, LONDON, JPMorgan Chase, India Investor Summit, Indian, Accenture, McKinsey, Tata, United Nations, P Global, European Union, TV18 Locations: China, India, Japan, Germany, U.S, New Delhi

☆ US new home sales tumble in August
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +3 min

New home sales plunged 8.7% to a seasonally adjusted annual rate of 675,000 units last month, the Commerce Department said on Tuesday. July's sales pace was revised higher to 739,000 units from the previously reported 714,000 units. Economists polled by Reuters had forecast new home sales, which account for a small share of U.S. home sales, falling to a rate of 700,000 units. New home sales are counted at the signing of a contract, making them a leading indicator of the housing market. At August's sales pace it would take 7.8 months to clear the supply of houses on the market, up from 7.0 months in July.

Persons: Octavio Jones, Freddie Mac, Lucia Mutikani, Andrea Ricci Organizations: REUTERS, Rights, U.S, Commerce Department, Reuters, Treasury, Federal Reserve, Data, National Association of Home Builders, Thomson Locations: Tampa , Florida, U.S, Wells Fargo, West, Midwest, Northeast

☆ There's a market index breaking down with an 'ominous precedent,' says a top chart analyst
▼ + stars: | 2023-09-25 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

An equal-weighted version of the S & P 500 has hit thresholds that have historically signaled trouble ahead, according to BTIG. Known as the SPW, the equal-weight S & P 500 measures performance by tracking all the stocks in the broad index at equal exposure. In the cap-weighed version, known in short as the SPX , more exposure is given to stocks with larger market caps. That has only happened five times in the last three decades and sets an "ominous precedent," said Jonathan Krinsky, chief market technician at BTIG. .SPX YTD mountain The cap-weighted S & P 500's ascent in 2023 Krinsky said the S & P 500 should test 4,200 points — which is 2.8% off its Friday close of 4,320.06 — if not lower.

Persons: BTIG, Jonathan Krinsky, Krinsky, — CNBC's Michael Bloom Organizations: CNBC

☆ Gulf stocks mixed amid rate hike woes; Egypt outperforms
▼ + stars: | 2023-09-24 | by ( Shamsuddin Mohd | ) www.reuters.com time to read: +1 min

The Qatari benchmark stock index (.QSI) fell 0.3%, dragged down by almost all the sectors with financials leading the declines. Qatar National Bank (QNBK.QA), the Gulf's biggest lender, was down 0.7% while heavyweight Commercial Bank (COMB.QA) dropped 1.3%. Kuwait's premier market index (.BKP) fell 1.6%, its 7th consecutive session of losses, as most of its constituents were in negative territory. Outside the Gulf, Egypt's blue-chip index (.EGX30), closed up 0.6%, hitting an all-time high. Reporting by Shamsuddin Mohd in Bengaluru; Editing by Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.

Persons: Shamsuddin, Emelia Sithole Organizations: Federal, Gulf Cooperation, greenback, Qatar National Bank, Commercial Bank, Chemical Industries, Misr Fertilizer, Stock, UAE bourse, Thomson Locations: Abu, Saudi Arabia, UAE, Bengaluru

☆ A key benchmark for smaller stocks could lose its 2023 gains, and that could mean trouble for bigger names
▼ + stars: | 2023-09-22 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

Whether that's just simply relative PE or our more complicated relative valuation model," DeSanctis said. Still, he added that small caps have struggled to escape the headwinds from the regional banking crisis earlier in the year. How to play small caps There's one sector both Wolfe's Ginsberg and DeSanctis like when it comes to small caps: energy. He added that small caps in the cyclicals market have traded under 13 times earnings — and better than secular growth names. "I think a lot of stuff has already been priced into small cap stocks," said DeSanctis.

Persons: Russell, BTIG, Wolfe, Rob Ginsberg, Ginsberg, We're, Jefferies, Steven DeSanctis, that's, DeSanctis, Wolfe's Ginsberg, Michael Bloom Organizations: Nasdaq, Wolfe Research, Energy

☆ ‘Everyone is in the same boat’: Is designing fashion worth going into debt?
▼ + stars: | 2023-09-20 | by ( Leah Dolan | ) edition.cnn.com time to read: +8 min

Kylie Jenner is a known favorite, too, choosing a Spring-Summer 2023 look to wear during Paris Fashion Week last September; as well as posing in custom pieces for her 399 million Instagram followers. It’s as simple as that,” Findikoglu told CNN during an interview outside her east London studio on the first day of London fashion week. While 31-year-old American designer Michael Halpern — who has received two British Fashion Awards in his career — announced just last week that not only would his label be skipping London Fashion Week, but that it plans to close for good. Findikoglu believes more financial help should be available to all brands on the London fashion week schedule. I’m not going to come to the studio in my knife dress, you know?”A model walks the runway at the Dilara Findikoglu show in the avant garde knife dress during London Fashion Week February 2023.

Persons: Dilara Findikoglu, Olivia Rodrigo, Findikoglu —, —, Lady Gaga, Madonna, Bella Hadid, She’s, Margot Robbie, Barbie, Hari Nef, Kylie Jenner, Cardi, MTV VMAs, Taylor Hill, “, ” Findikoglu, I’m, she’s, ” Margot Robbie's corseted, Findikoglu, Stuart C, Wilson, Steven Stokey, Daley, S.S Daley, Michael Halpern —, ”, Loewe, Louis Vuitton, Dior, Celine, Fendi, Marc Jacobs, Gucci, Balenciaga, Alexander McQueen, Saint Laurent, David M, it’s, I’ve, Cameron Smith Organizations: CNN, London CNN, MTV, Stone Magazine, Awards, London, Central Saint Martins, Savigny Partners, Brands, British Fashion Council, BFC, Getty Locations: London, Turkey, American, Savigny, Bottega Veneta, NEWGEN, Paris

☆ Home building sank in August amid crushing mortgage rates
▼ + stars: | 2023-09-19 | by ( Anna Bahney | ) edition.cnn.com time to read: +2 min

Washington, DC CNN —US home building sank in August, dropping 11.3% from July levels, as mortgage rates stayed elevated amid lingering inflation. After rising in July, new home starts dropped in August as mortgage rates climbed back to their late 2022 peak. “The combination of high interest rates, high pricing, and limited inventory has continued to plague the housing market,” said Kelly Mangold of RCLCO Real Estate Consulting. “In many cases, even repurchasing their same home at today’s mortgage rates would be out of a typical buyer’s price range.”More than 90% of homeowners have a mortgage rate under 6% and many have rates closer to 2% or 3%. Home builder confidence was lower in September, according to a separate report from the National Association of Home Builders / Wells Fargo Housing Market Index released Monday.

Persons: ”, Kelly Mangold, Mangold, “ Organizations: DC CNN, Housing, Census, Real Estate Consulting, “, National Association of Home Builders Locations: Washington, Wells Fargo

☆ US housing starts hit three-year low; surge in permits point to underlying strength
▼ + stars: | 2023-09-19 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

The decline in housing starts reported by the Commerce Department on Tuesday was the largest in a year and occurred across the board. Housing starts tumbled 11.3% to a seasonally adjusted annual rate of 1.283 million units last month, the lowest level since June 2020. Data for July was revised lower to show starts accelerating to a rate of 1.447 million units instead of the previously reported 1.452 million units. Single-family housing starts, which account for the bulk of homebuilding, dropped 4.3% to a rate of 941,000 units last month. They were boosted by a 14.8% surge in multi-family housing permits to a rate of 535,000 units.

Persons: Mike Blake, homebuilding, Daniel Vielhaber, Hilary, Freddie Mac, Goldman Sachs, Nancy Vanden Houten, Jeffrey Roach, Lucia Mutikani, Chizu Nomiyama, Paul Simao, Andrea Ricci Organizations: REUTERS, Commerce Department, Federal, Nationwide, Reuters, U.S, Treasury, National Association of Home Builders, Oxford Economics, Realtors, LPL Financial, Thomson Locations: Rancho, San Diego , California, U.S, WASHINGTON, Columbus , Ohio, homebuilding, Northeast, Midwest, Wells Fargo, New York, Charlotte , North Carolina

☆ Homebuilder sentiment goes negative for the first time in 7 months, thanks to higher mortgage rates
▼ + stars: | 2023-09-18 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

U.S. homebuilders are feeling pessimistic about their business for the first time in seven months, thanks to stubbornly high mortgage rates. Builder confidence in the single-family housing market fell 5 points in September to 45 on the National Association of Home Builders/Wells Fargo Housing Market Index. Current sales conditions fell 6 points to 51, and sales expectations in the next six months also dropped 6 points to 49. Builders cite weaker affordability due to higher mortgage rates. While builders are still benefiting from the lack of supply on the existing sales market, they are also facing hurdles other than higher interest rates.

Persons: Robert Dietz, NAHB's, Alicia Huey Organizations: National Association of Home Builders, Builders Locations: Wells Fargo, Birmingham , Alabama, Midwest, West

☆ Treasury yields rise as investor attention turns to upcoming Fed meeting
▼ + stars: | 2023-09-18 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury was up by 2.5 basis points to 4.347%. The 2-year Treasury yield was last trading more than 2 basis points higher at 5.056%. Markets are pricing in a 99% chance that the Fed will keep rates unchanged this week, according to CME's FedWatch tool, which gauges pricing in fed funds futures. The figures were followed by the University of Michigan's consumer sentiment report on Friday, which reflected a significant decline of inflation expectations. Before the Fed's rate decision on Wednesday, several reports from the housing sector are due, including September's Housing Market Index data on Monday, as well as building permit and housing starts data on Tuesday.

Organizations: Treasury, U.S, Federal Reserve, PPI, University of

☆ Homebuilder confidence continues to be weighed down by high mortgage rates
▼ + stars: | 2023-09-18 | by ( Anna Bahney | ) edition.cnn.com time to read: +3 min

Washington, DC CNN —Home builder confidence took a hit in September as average mortgage rates for a 30-year fixed-rate loan stayed above 7%. “The two-month decline in builder sentiment coincides with when mortgage rates jumped above 7% and significantly eroded buyer purchasing power,” said Alicia Huey of the NAHB. All three dimensions of the new housing market evaluated saw declines in September: The index gauging current sales conditions fell six points to 51. “High mortgage rates are clearly taking a toll on builder confidence and consumer demand, as a growing number of buyers are electing to defer a home purchase until long-term rates move lower,” said Robert Dietz, NAHB Chief Economist. As mortgage rates stayed above 7% over the last month, more builders cut prices to boost sales, according to NAHB.

Persons: ”, Alicia Huey, Huey, Robert Dietz, That’s Organizations: DC CNN —, National Association of Home Builders, “, NAHB Locations: Washington, Wells Fargo

☆ Inflation is expected to slow because of these trends
▼ + stars: | 2023-09-17 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

Washington, DC CNN —US inflation has slowed steadily from its four-decade peak last June, and it’s expected to cool further thanks to easing car prices and rents. Despite the expected inflation drop, she said investors anticipate the Fed will keep interest rates steady and not cut them anytime soon. “It may take a little bit longer than expected for inflation to come down to 2%, and inflation being in a 2-3% range next year is reasonable,” she said. Tuesday: Canada’s statistics agency releases August inflation data. The UK’s Office for National Statistics releases August inflation data.

Persons: we’re, ” José Torres, “, ”, Sarah House, Saira Malik, Michelle Toh, ” Read, General Mills, Christine Lagarde Organizations: CNN Business, Bell, DC CNN, Interactive Brokers, CNN, “, ”, United Auto Workers, CPI, San, San Francisco Fed, National Association of Home Builders, US Commerce Department, Japan’s Ministry of Finance, FedEx, General, National Statistics, Federal Reserve, Darden Restaurants, The Bank of England, US Labor Department, National Association of Realtors, The Bank of Japan, European Central Bank, Global Locations: Washington, Wells Fargo, San Francisco, China, Michelle Toh ., Japan’s

☆ Stock futures are little changed as Wall Street awaits Fed meeting: Live updates
▼ + stars: | 2023-09-17 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

U.S. stock futures inched up Sunday night as investors look toward the Federal Reserve's next policy decision. The broad market index and the Nasdaq both ended the previous trading week in the red, marking their second straight week of losses. However, Krosby believes higher prices could be ahead as the labor market remains strong. September's Housing Market Index data is scheduled to be released. The New York Fed will also be announcing September's Business Leaders Survey results.

Persons: Dow, it's, Quincy Krosby, Krosby Organizations: New York Stock Exchange, Federal, Dow Jones, Nasdaq, Fed, LPL, PPI, United Auto Workers, UAW, New Locations: Detroit, September's

☆ The Fed is expected to hold rates steady next week, but its guidance will be key for investors
▼ + stars: | 2023-09-15 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

The Federal Reserve is widely anticipated to hold rates steady in the week ahead, but key for investors will be the central bank's guidance on where it's headed from here. Investors are assessing a mixed batch of economic reports ahead of the Fed's September policy meeting. Meanwhile, August retail sales came in better than expected, jumping 0.6% against a 0.1% increase expected by economists. Housing data released in the week ahead could show whether housing demand remains solid. Week ahead calendar All times ET.

Persons: Bank's Rob Haworth, Jerome Powell, Powell, Hogan, Instacart, Arm's, Mills, Lisa Cook, —, Jeff Cox, Michael Bloom Organizations: Federal Reserve, Dow Jones, Dow, Nasdaq, Investors, PPI, Federal, Riley, FedEx, Housing, Philadelphia Fed, Darden, FactSet, Systems, National Bureau of Economic Research, Artificial Intelligence, PMI, SA, PMI Manufacturing SA, PMI Services SA Locations: NAHB, Toronto, Canada

☆ Most Americans aren't interested in AI tools like ChatGPT for money advice—why that's probably a good thing
▼ + stars: | 2023-09-15 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +2 min

Nearly 60% of Americans say they're not interested at all in using AI tools to help them manage their money, according to a new CNBC Your Money survey conducted by Survey Monkey. In fact, only about 4% say they've already used AI to help them with their finances. Americans are using artificially intelligent chatbots like ChatGPT to boost their resumes and accelerate their side hustles , but it doesn't look like they're turning to the tool for financial advice. Publicly traded companies publish quarterly earning reports, which can be a good source of information about the financial health of a company. Also, OpenAI warns users that ChatGPT may write "plausible-sounding but incorrect or nonsensical answers" and the tool isn't intended to give advice.

Persons: they're, Douglas Boneparth, it's, OpenAI, Warren Buffett Organizations: CNBC, Survey, Publicly Locations: U.S

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