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☆ Earnings could keep the market on edge in week ahead as investors wait for Fed
▼ + stars: | 2023-01-20 | by ( Patti Domm | In | ) www.cnbc.com time to read: +8 min

I do think that will happen even more in the week ahead as the Fed is in a blackout period. S & P Global PMI data is released for both services and manufacturing Tuesday. "The market continues to think the Fed does not have to administer as much medicine as the Fed tells us they plan to. Earnings, earnings, earnings Stocks were lower in the past week, with the S & P 500 off by 1.8%. "It's a mild earnings recession, but it's an earnings recession.

☆ The BoJ doesn't want to deliver a 'rate shock' to the economy: Investment management firm
▼ + stars: | 2023-01-18 | 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 BoJ doesn't want to deliver a 'rate shock' to the economy: Investment management firmAninda Mitra of BNY Mellon Investment Management says the Bank of Japan has "begun to shift in a direction … where the destination is quite clear."

☆ What's next for Goldman following deep cuts and organization overhaul
▼ + stars: | 2023-01-17 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

On tap we've got stories on JPMorgan's Jamie Dimon fielding questions about the bank's acquisition strategy, another bank plans to make cuts, and fast food options that won't completely crush your diet. On Wednesday the bank conducted a majority of its cuts, reducing its global workforce by about 6.5%. A few days later, on Friday, the bank reported losses of more than $3 billion since 2020 in the unit that houses the bank's consumer lending business. Meanwhile, some of the recently axed Goldman employees have been left in the dark on what's next for them, according to reporting from Hayley and Emmalyse Brownstein. Here are some fast food options that won't completely wreck your diet.

☆ BNY Mellon CEO: We've seen peak U.S. equity selling at the moment
▼ + stars: | 2023-01-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBNY Mellon CEO: We've seen peak U.S. equity selling at the momentBNY Mellon CEO Robin Vince joins 'Squawk Box' to discuss why the firm decided to cut jobs this year, where the company found room to reduce expenses and more.

☆ Who on Wall Street is making cuts, who's promoting, and who's hiring
▼ + stars: | 2023-01-16 | by ( Michelle Abrego | ) www.businessinsider.com time to read: +2 min

One thing that's apparent on Wall Street is that many people are worried about their jobs and compensation. We've already seen layoffs at Goldman Sachs, BlackRock, and BNY Mellon materialize, and there's likely more bad news to come. Wall Street bonuses are being handed out—but they're not going to be pretty. Here's when banks like JPMorgan, Goldman Sachs, and Morgan Stanley are expected to tell employees how much they made. College students still eyeing a job on Wall Street should look no further than our guide to landing a summer job at a top investment bank or asset manager.

☆ A chief investment officer overseeing $256 billion in assets shares the key market areas he's most bullish on to ride out the bumpy first half of 2023
▼ + stars: | 2023-01-15 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +4 min

Leo Grohowski believes that after a bumpy ride, markets should recover in the second half of 2023. After last year's stock market slump, it's understandable that investors want to leave 2022 far behind in the rearview mirror. On the other hand, Grohowski believes that high yield spreads, which look "very attractive" now, could weaken along with economic growth in 2023. Grohowski believes that high-quality companies with strong dividends and high cash flows will continue to thrive this year just like they did last year. Assets such as private investments, commodities, and real estate can also help investors hedge against inflation and potential market dislocations.

☆ ChatGPT used by mental health tech app in AI experiment with users
▼ + stars: | 2023-01-14 | by ( David Ingram | David Ingram Covers Tech For Nbc News. | ) www.nbcnews.com time to read: +11 min

But for a few thousand people, the mental health support they received wasn’t entirely human. About 4,000 people got responses from Koko at least partly written by AI, Koko co-founder Robert Morris said. Academics, journalists and fellow technologists accused him of acting unethically and tricking people into becoming test subjects without their knowledge or consent when they were in the vulnerable spot of needing mental health support. “There are millions of people online who are struggling for help.”There’s a nationwide shortage of professionals trained to provide mental health support, even as symptoms of anxiety and depression have surged during the coronavirus pandemic. In June, the World Health Organization included informed consent in one of its six “guiding principles” for AI design and use.

☆ Big U.S. banks continue to add jobs as Goldman Sachs cuts staff
▼ + stars: | 2023-01-14 | by ( ) www.cnbc.com time to read: +3 min

The chief financial officers of the two biggest U.S. banks said they would hire selectively despite waning economic growth. JPMorgan's Chief Financial Officer Jeremy Barnum said the bank is still hiring and "in growth mode" in a call with journalists to discuss the bank's fourth-quarter earnings. Bank of America also continues to hire, particularly in wealth management, while also remaining disciplined on its expenses, Chief Financial Officer Alastair Borthwick told reporters on Friday. Citigroup Inc's Chief Financial Officer Mark Mason told an earnings briefing "we're actively hiring to execute against our strategy. The banking giants stood by their hiring plans even as other lenders cut staffing in investment banking and mortgages.

☆ Risk to terminal rates in the UK still 'anchored firmly to the downside,' BNY Mellon says
▼ + stars: | 2023-01-13 | 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 EmailRisk to terminal rates in the UK still 'anchored firmly to the downside,' BNY Mellon saysGeoffrey Yu, senior EMEA market strategist at BNY Mellon, shares his views on the U.K.'s positive economic surprise and the outlook for the FTSE 100 after China's reopening.

[1/4] A Bank of America logo is pictured in the Manhattan borough of New York City, New York, U.S., January 30, 2019. The chief financial officers of the two biggest U.S. banks said they would hire selectively despite waning economic growth. JPMorgan's (JPM.N) Chief Financial Officer Jeremy Barnum said the bank is still hiring and "in growth mode" in a call with journalists to discuss the bank's fourth-quarter earnings. Bank of America (BAC.N) also continues to hire, particularly in wealth management, while also remaining disciplined on its expenses, Chief Financial Officer Alastair Borthwick told reporters on Friday. The banking giants stood by their hiring plans even as other lenders cut staffing in investment banking and mortgages.

☆ Stocks making the biggest moves midday: JPMorgan Chase, Wendy's, Virgin Galactic, Delta Air Lines, Tesla and more
▼ + stars: | 2023-01-13 | by ( Samantha Subin | ) www.cnbc.com time to read: +5 min

The New York-based bank said profit jumped 6% from the year earlier period to $11.01 billion, or $3.57 per share. Wells Fargo - The bank stock dipped 0.1% after the firm reported shrinking profits, weighed down by a recent settlement and the need to build up reserves amid a deteriorating economy. Lockheed Martin — The defense stock slipped more than 3% after Goldman Sachs downgraded shares to sell from a neutral rating. Northrop Grumman shares also dove 5% on Goldman's downgrade to a sell from neutral rating. Copa — Shares of the Latin American airline jumped 4.9% following an upgrade to overweight from a neutral rating by analysts at JPMorgan.

☆ BNY Mellon to cut 3% of workforce this year - source
▼ + stars: | 2023-01-13 | by ( Manya Saini | ) www.reuters.com time to read: +1 min

Jan 13 (Reuters) - Bank of New York Mellon Corp (BK.N) is planning to cut around 3% of its workforce this year, a source familiar with the matter told Reuters on Friday, joining a number of Wall Street firms in trimming headcount to cope with turbulent markets. The layoffs, first reported by the Wall Street Journal, translate to about 1,500 jobs of the bank's total reported headcount of 51,700 as of end-2022. Shares in BNY Mellon were up 2.4% in afternoon trading. BNY Mellon reported a 38% drop in fourth-quarter profit to $509 million. Chief Executive Robin Vince in a post-earnings call with analysts acknowledged that the company was facing inflationary headwinds, and added that the bank's expense growth was high.

☆ Morning Bid: Money in the bank
▼ + stars: | 2023-01-13 | by ( ) www.reuters.com time to read: +5 min

Kicking off the fourth-quarter corporate results season in earnest, JPMorgan, Citigroup, Bank of America, Bank of New York Mellon and Wells Fargo are among the countries biggest banks updating on Friday. It will take some twist to puncture the optimism on peak inflation and peak Federal Reserve interest rates, however. Futures markets still see rates topping out below 5% by midyear and pencil in a half point of rate cuts between then and yearend. The yen surged on speculation the Bank of Japan could revise its ultra-loose monetary policy again at next week's policy meeting. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Here are Thursday's biggest analyst calls: Meta, Apple, Tesla, Netflix, Roku, Disney, Exxon & more
▼ + stars: | 2023-01-12 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Here are the Thursday's biggest calls Wall Street: Credit Suisse upgrades AECOM to outperform from neutral Credit Suisse said the company is a key beneficiary of infrastructure stimulus. UBS reiterates Apple as buy UBS said it's sticking with its buy rating on the stock but is concerned about App Store revenue declines. Credit Suisse upgrades Boeing to neutral from underperform Credit Suisse said in its upgrade of Boeing that it sees "stronger aircraft deliveries." RBC names Meta a top 2023 pick RBC said it sees "multiple expansion" on the horizon for Meta shares. " Rosenblatt reiterates Disney as buy Rosenblatt said activist investor Nelson Peltz's push for a Disney board seat could help shares.

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☆ George Santos' deceit shows why you shouldn't lie on your resume
▼ + stars: | 2023-01-11 | by ( Rebecca Knight | Shana Lebowitz | ) www.businessinsider.com time to read: +4 min

Congressman George Santos has admitted making up parts of his resume and is facing calls to resign. It's not smart to misrepresent your work experience because "today you're going to get found out." Job applicants often exaggerate their work experience and skillsFudging one's resume is a common practice. "It's not okay to omit stints of employment on an application that requires all work experience for a period of time. "You're going to get into a job you can't do," she said.

☆ Watch CNBC's full post-market discussion with Virtus' Joe Terranova, BNY Mellon Wealth Management's Alicia Levine and CIC Wealth's Malcolm Ethridge
▼ + stars: | 2023-01-10 | 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 post-market discussion with Virtus' Joe Terranova, BNY Mellon Wealth Management's Alicia Levine and CIC Wealth's Malcolm EthridgeVirtus Investment Partners' Joe Terranova joins 'Closing Bell: Overtime' to discuss the markets and whether he believes there could be positive momentum building. With Alicia Levine, BNY Mellon Wealth Management and Malcolm Ethridge, CIC Wealth.

☆ BlackRock's mighty tech unit is a silver lining in an awful market. But competition and a recession could test its momentum.
▼ + stars: | 2023-01-09 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +7 min

In a tumultuous year for BlackRock, its powerful Aladdin business won record new mandates. "2022 was a good litmus test for the BlackRock model vis-a-vis Aladdin," said Cathy Seifert, a senior equity analyst at CFRA Research. Now Sudhir Nair, the longtime BlackRock executive who runs the Aladdin business globally, and his sprawling business face a test: Keeping that momentum. "To get new business, Aladdin may have to sharpen their pencils, despite the fact that I do think they still retain a best-in-class position," Seifert said. Influential rival money managers like Two Sigma, Pimco, State Street, and Amundi have been putting resources behind their own proprietary tech platforms.

☆ Has inflation finally peaked?
▼ + stars: | 2023-01-08 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +6 min

But for investors, consumers and the Federal Reserve, inflation remains a major economic concern, just as it was in 2022. The hope is that inflation pressures will cool even more dramatically as the year progresses. We believe inflation peaked in June,” said Nancy Tengler, CEO and chief investment officer with Laffer Tengler Investments, in a report. Inflation impact on the Fed and housingWhat’s more, lower levels of inflation should allow the Fed to keep slowing its pace of interest rate hikes. But if inflation pressures continue to abate – and the Fed acknowledges that by pulling back on rate hikes – then the housing market may rebound.

☆ Markets rally on signs inflation is abating, as investors look to next week's consumer price data
▼ + stars: | 2023-01-06 | by ( Zev Fima | ) www.cnbc.com time to read: +5 min

Later in the day, markets were also buoyed by the ISM's nonmanufacturing purchasing managers' index, which said the services industry contracted last month. The next big test will be December's consumer price index report, to be released Thursday. Meanwhile, the fourth-quarter earnings season kicks off next Friday, when the banks – including Club holding Wells Fargo (WFC) – are set to report. On Thursday, the December ADP employment report was released, showing an additional 235,000 jobs, well above the 153,000 expected by analysts. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Important inflation data and big bank earnings could create volatility for markets in week ahead
▼ + stars: | 2023-01-06 | by ( Patti Domm | In | ) www.cnbc.com time to read: +6 min

Other speakers include Atlanta Fed President Raphael Bostic Monday. On Thursday, Philadelphia Fed President Patrick Harker, Richmond Fed President Tom Barkin and St. Louis Fed President Bullard all speak at separate events. Minneapolis Fed President Neel Kashkari and Boston Fed President Susan Collins have appearances Friday. The most important inflation report in the week ahead is the consumer price index, released Thursday. Import prices 10:00 a.m. Consumer sentiment 10:00 a.m. Minneapolis Fed President Neel Kashkari 10:20 a.m. Philadelphia Fed's Harker 9:00 a.m. Boston Fed President Susan Collins

☆ Two fund managers who were the toast of Wall Street in 2022 told us how they've built a working 25-year partnership and consistently won at stock picking
▼ + stars: | 2023-01-05 | by ( Marley Jay | ) www.businessinsider.com time to read: +4 min

BNY Mellon mutual fund managers John Bailer and Brian Ferguson belong in the second camp. Over time they started to collaborate more closely thanks to their shared approach to value stocks. In time, the two began working together on coverage of large cap value stocks as well. Bailer has run the Income Stock Fund since the end of 2011. The Income Stock Fund has one additional criterion: the fund prioritizes dividends that are at least 50% greater than the yield of the average S&P 500 company.

☆ Citi strategist expects weakness in early 2023 is a buying opportunity. Here are his large-cap stock picks
▼ + stars: | 2023-01-05 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

With recession risks in focus for investors positioning for 2023, Citi strategist Scott Chronert refreshed his large-cap stock picks for the year ahead. According to a Tuesday note, the strategist projects the broader market index will hit 3,700 mid-year, while rising to 4,000 at year-end. For investors, that means any volatility in the first part of 2023 could be used to their advantage. Chronert added T-Mobile to the bank's large cap focus list, saying the telecommunications stock is a defensive pick. Meanwhile, HCA Healthcare is a defensive pick expected to benefit from "improving labor supply" this year, according to the note.

☆ Why now is the best time for Gen Zers to launch a business, and how they're taking advantage of the opportunity to change the workforce
▼ + stars: | 2023-01-05 | by ( Alexandra York | ) www.businessinsider.com time to read: +6 min

Here's why now is the best time for Gen Zers to start their own businesses. It helps that some successful Gen Zers are earning more than America's top CEOs. Here's why now is the best time to start a business for young people and two Gen Z entrepreneurs who have done it. New ventures in copywriting, social media management, and virtual assisting have been among some of the most successful, Mawhinney said. With this in mind, young founders have the opportunity to build brands that new workers resonate with.

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☆ Wolfe Research downgrades Goldman Sachs, sees greater upside in other banks such as Wells Fargo
▼ + stars: | 2023-01-04 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

There's "less compelling" upside for Goldman Sachs in 2023, according to Wolfe Research. The stock has done very well in that time (+72%), outperforming the S & P (+36%) and BKX (+8%)," Chubak wrote in a Wednesday note. "However, as we head in 2023, we see less compelling upside in shares, prompting us to move to the sidelines," Chubak wrote. Shares of Goldman Sachs declined 10% in 2022, outperforming the S & P 500, which was down about 19% in the same period. Shares of Goldman Sachs rose slightly in Wednesday premarket trading.

☆ The 10 easiest businesses to start in 2023, including freelance writing, user-generated content creation, and digital marketing
▼ + stars: | 2023-01-01 | by ( Alexandra York | Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +2 min

2023 is a hopeful time to start a business or side hustle, especially for solopreneurs. Digital marketing, content creation, and e-commerce are among those with the most potential. The gig economy is growing in size and specialty, said Lauren Russell, freelancer and founder of social media marketing agency Irresistibly Social LLC. "With the gig economy growing, there are a lot of micro niches so people can have a more custom, tailored service," Russell said. Insider spoke with economists and entrepreneurs about the best businesses to start in 2023.

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