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Watch CNBC's full interview with Marci McGregor & Brian Levitt
  + stars: | 2024-09-20 | 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 Marci McGregor & Brian LevittMarci McGregor, Merrill & Bank of America Private Bank head of CIO portfolio strategy, and Brian Levitt, Invesco global market strategist, join CNBC's 'Closing Bell' to discuss reactions to the Fed's decision to cut rates by 50 basis-points, market outlooks, and more.
Persons: Marci McGregor, Brian Levitt Marci McGregor, Brian Levitt, CNBC's Organizations: Merrill & Bank of America Private Bank
Read previewThe popularity of exchange-traded funds has skyrocketed over the past decade as more Americans have opted for them over mutual funds. Further, between 2014 and 2024, assets under management in ETFs were at 16%, versus 84% for mutual funds. Related storiesAn increased number of money managers are choosing to offer so-called model portfolios using ETFs as the main vehicles. This means managers opting for the ETF model portfolios have a range of active funds and expertise to choose from. It's a combination of ETFs, mutual funds, and separate accounts that are merged into a strategy.
Persons: , Matt Barry, Jon Maier, It's, Maier, Barry, Merrill Lynch's Organizations: Service, JPMorgan, Business, Touchstone Investments, Morgan, Management
And yet, the unemployment rate continues to inch up, job openings continue to fall, and payroll data continue to underwhelm. But how long that enthusiasm can continue to outweigh declining labor market indicators remains to be seen. AdvertisementThe first is declining job openings, which are down to 7.6 million from 2022 highs above 12 million. BullAndBearProfits.comAnother sign Wolfenbarger shared showing the labor market is turning sour is the Kansas City Fed's Labor Market Conditions Index, which is a composite of 24 job market indicators. BullAndBearProfits.comFinally, in a September 2 note, Wolfenbarger shared a chart from Bank of America showing the decline in private job growth as a share of all job growth.
Persons: , Jon Wolfenbarger, Merrill Lynch, Wolfenbarger, there's, BullAndBearProfits.com, John, Hussman, Stocks Organizations: Service, JPMorgan, Business, Kansas City Fed's Labor, BullAndBearProfits.com, Bank of America Locations: Kansas
I'm the managing director and head of the Merrill Center for Family Wealth. But often, they aren't sure what success means to those people, perhaps because family members feel uncomfortable talking about it. How can I build my own personal identity, both within and outside the family wealth? Many rising generation members are concerned about how to carve out a path for themselves. When rising generation members interact with friends and colleagues, it can lead to uncomfortable questions about wealth and privilege.
Persons: , Valerie Galinskaya, we've, I've, We've Organizations: Service, Bank of America, Business, Merrill Center, Family Wealth Locations: New York City, San Francisco
The information for the following product(s) has been collected independently by Business Insider: Bank of America Premium Rewards Elite, Bank of America® Premium Rewards® credit card. Introduction to the Bank of America Premium Rewards Elite CardAs a high-end travel rewards card, the Bank of America Premium Rewards Elite offers several ways to earn rewards and solid cardholder benefits. Bank of America Premium Rewards Elite Credit Card Cardholder InsightsMembers of online forums such as Flyertalk and Reddit generally give the Bank of America Premium Rewards Elite card positive reviews. Bank of America Premium Rewards Elite Card ComparisonSeveral premium rewards credit cards compete directly with the Bank of America Premium Rewards Elite card. Bank of America Premium Rewards Elite Frequently Asked QuestionsWhat are the main benefits of the Bank of America Premium Rewards Elite Credit Card?
Persons: , airfare, you'll, there's, Chase, isn't, You'll, Read, Chase Travel ℠, Chase Sapphire, Uber, Cardholders, Jason Steele, Jason, Guy, he’s Organizations: Business, Bank of America, Bank of, The Bank of America, of America, Bank of America Travel Center, Rewards Bank of America, Merrill, Avis ®, Hertz, American Express, TSA, U.S . Bank of America, Citi, Wells, Bank, America, Diamond, . Bank of America, Global, Chase, Chase Travel, Chase Sapphire, American, Saks Fifth, Uber, Walmart, Delta Sky, Bank of America Preferred, Conference, Credit Card Media, Forbes, USA, Newsweek, Street Journal, CNN, University of Delaware, Colorado ExperienceExperienceEducations Locations: Bank, U.S, , Colorado
A magician rarely reveals his tricks, but in a recent interview, Chan told BI about his simple but unconventional investing strategy. From breathtaking magic to eye-popping returnsAfter missing out on a once-in-a-lifetime opportunity, Chan took a harder route to striking it rich. Around the same time he joined PayPal, he started performing magic shows. AdvertisementFast-forward a few decades to March 2020, when stay-at-home orders threatened to sideline Chan's business. How to invest like a magician — and the company he's nearly all-in onThere's no smoke and mirrors behind Chan's returns.
Persons: , Dan Chan, Chan, Merrill Lynch, David Copperfield, David Blaine, Elon Musk, George Lucas, Paula Abdul, Green, he's, He's, Chan's, Chan doesn't, shouldn't, Jensen Huang, Jensen, I've, Mark Zuckerberg Organizations: Service, Business, PayPal, Costco, Nvidia, Facebook, Google, YouTube Locations: Bay, what's
"Incredibly, the Fed raised rates 500 basis points under a false presumption — by over one million — of just how robust the jobs market was," Rosenberg said. AdvertisementIn addition to the yearly revisions, monthly payroll revisions from the Bureau of Labor Statistics have also been poor more recently. Related storiesOne is a model that aims to enhance the yield curve as a recession indicator by taking into account US businesses' ability to repay debts and the Fed's National Financial Conditions Index. A soft-landing outcome, where the Fed avoids sending the economy into recession, is also still the consensus view on Wall Street. With inflation down under 3% and rate cuts almost surely on the way, such a scenario is still seemingly possible.
Persons: , David Rosenberg, Rosenberg, Merrill Lynch, Pascal Michaillat, Emmanuel Saez, Vane, Chuck Prince, Ian Shepherdson, Shepherdson, payrolls, Jerome Powell, Powell Organizations: Service, Federal Reserve, Rosenberg Research, Business, Bureau of Labor Statistics, Fed, Treasury, Pantheon, Labor Locations: Jackson Hole , Wyoming
In today's big story, it's out with the old and in with the new CEO at Starbucks. Starbucks announced CEO Laxman Narasimhan was stepping down after less than two years on the job . Chipotle CEO Brian Niccol was tapped to lead Starbucks' turnaround efforts. In the release announcing the news , Howard Schultz, Starbucks' chairman emeritus and three-time CEO, made no mention of Narasimhan in his statement. At Starbucks, Niccol won't need to navigate a brand crisis like he did with Chipotle in the wake of its E. coli outbreak.
Persons: , he's Benjamin Button'd, Chelsea Jia Feng, Laxman Narasimhan, Brian Niccol, it's, Grace Dean, Howard Schultz, Narasimhan, Ryan Miller, Rebecca Zisser, Alex Bitter, It's, we've, Katie Notopoulos, Tyler Le, Joe Quinlan, Berkshire Hathaway, Goldman Sachs, Greg Tuorto, Josh Edelson, Justin Sullivan, Timo Lenzen, Mercedes, unmotivated, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock Organizations: Service, Starbucks, Business, Elliott Management, Orange County Museum of Art, Taco Bell, Merrill, Bank of America Private Bank, Getty, BI, Benz, Mercedes, Dolce, Gabbana, Walmart, Walgreens, Cisco Systems, UBS Locations: Chelsea, Narasimhan, Mexican, Berkshire, AFP, Dubai, Miami, New York, London
Japan's low interest rates made its currency a cheap option to borrow and fund other trades in the US and worldwide. So there's $6 trillion sitting in money market funds that is being held hostage to politics, he added. Advertisement"We've had these episodes of market volatility in the past, and the only path was in and out of equities," Quinlan said. Remember, as interest rates come down, you lock in two-, five-, or 10-year yields. Those money market funds are going to come down as the interest rates come down."
Persons: , Joe Quinlan, Quinlan, it's, There's, You've, capex, Donald Trump, We've, Russell, We're Organizations: Service, Nasdaq, Dow, Merrill, Bank of America Private Bank, Business, Reserve, Big Tech, Labor Locations: China, Israel, Iran
President Joe Biden had banked on June’s presidential debate turning around a race that was slipping away from him. Now, Donald Trump may be laying a similar bet after reversing himself by agreeing to debate on ABC next month as his new Democratic opponent enjoys surging momentum. Tim Walz, Trump suddenly looks like old news — a crushing new experience for an ex-president who prides himself on driving the narrative. The clash also looms as an extreme test for Harris. The vice president has a mixed record in debates — she performed strongly in such events early in her failed 2020 presidential campaign.
Persons: Joe Biden, Donald Trump, Trump, Kamala Harris, Harris, Tim Walz, Biden, “ She’s, I’m, ” Trump, she’s Organizations: ABC, Democratic, NBC, Fox, Minnesota Gov, South Locations: Lago
A combination of technologies — from various forms of batteries to other energy storage methods — will likely be necessary to increase capacity. As shown in this render, energy storage company Energy Vault, along with Skidmore, Owens & Merrill, the architecture and engineering firm behind some of the world's tallest buildings, is integrating gravity energy storage technology into building designs. A view of the world's tallest building, the Burj Khalifa, in Dubai, in December 2022. Two energy storage experts contacted by CNN questioned if the economics of a skyscraper battery could work, given the space that would need to be used for energy storage and the structural changes that would be needed to support the extra weight. Energy Vault has already completed a project in China which it says is the world’s first commercial-scale, non-pumped hydro gravitational energy storage system.
Persons: Chicago’s Willis, Bill Baker, Abdelhadi Ramahi, Robert Piconi, Stefano Boeri, Daniel Safarik, Organizations: CNN, Skidmore, Owings, Merrill, Energy, Owens & Merrill, Trade Center, Sears, Burj, International Energy Association ., SOM, Reuters Locations: Burj Khalifa, Dubai, China, Milan, Italian
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBank of England to remain cautious on future interest rate cuts, economist saysSonali Punhani, chief U.K. economist at Bank of America Merrill Lynch, weighs in on the Bank of England's recent interest rate cut and the outlook for monetary policy moving forward.
Persons: Sonali Punhani, Bank of America Merrill Lynch Organizations: Email Bank of England, Bank of America, Bank of
The 79-year-old man sat silently in the back of the courtroom on Long Island, 20 miles from his home in Queens. Here the man, Robin Davis, settled in for what promised to be a strange trial in this mostly empty room. His lawsuit centered on the actions of a person long dead. His adversaries were Long Island bureaucrats who had never heard of that person or his reported misdeeds. Mr. Davis had long been widely known for his philanthropy on behalf of one cause: fighting child abuse.
Persons: Merrill Lynch, Robin Davis, Long, Davis, Eisenhower Organizations: Bank of America Locations: Queens, New York City
Best Credit Cards for Excellent Credit of August 2024Compare the Top Credit Cards for Excellent CreditBest mid-tier travel card Chase Sapphire Preferred® Card Apply now lock icon An icon in the shape of lock. Best Credit Cards for Excellent Credit ReviewsConsumers with excellent credit have a lot of options when it comes to credit cards. The Bank of America® Premium Rewards® credit card isn't flashy, but it offers unique long-term value for those who prefer cash back credit card rewards and have a broader banking relationship with Bank of America. The Capital One Venture X Rewards Credit Card is Capital One's entry into the premium credit card market. Credit Cards for Excellent Credit Frequently Asked QuestionsWhat is the best credit card to get with an 800 credit score?
Persons: Read, Merrill, Miles you've, Miles you’ve, Miles, There’s, Uber, Wiley, Julie Mehretu, Peacock, Uber Cash, Chase, Cardholders, cardholders, you've, you'll, You'll, It's, Peter Rothbart, he's, Peter, Angela Fung Organizations: FICO's, Chase Travel, Chase, Sapphire, Hotel, FDIC, Bank of America, Bank of America's, of America, Bank of America Travel Center, TSA, Travel Insurance, Discover's, Discover . Discover, Capital, One, Premier, Express, American Express, Hilton, Marriott, Saks, Entertainment, Disney, ESPN, The New York Times, Street, American, Walmart, Global, Saks Fifth, Saks Fifth Avenue, Business, Finance, TSA PreCheck, PreCheck, Resorts Locations: Hulu, Wells, Seattle , Washington, Vegas, Pacific
The information for the following product(s) has been collected independently by Business Insider: Alaska Airlines Visa Signature® credit card, Alaska Airlines Business Credit Card, Marriott Bonvoy Boundless® Credit Card, Marriott Bonvoy Bold® Credit Card, Marriott Bonvoy Bountiful™ Card. How to earn Alaska Airlines milesThere are two types of Alaska miles: Elite-qualifying miles and redeemable miles. Earn Alaska miles for car rentalsYou can opt-in to earn Alaska miles when you rent cars through Alamo, Avis, Budget, Dollar, Hertz, National, or Thrifty. Alaska Airlines Mileage Plan is a highly lucrative frequent flyer program even if you never actually fly on Alaska Airlines. Redeem Alaska miles for flights on partner airlinesUsing Alaska Airlines miles for award flights on partner airlines is perhaps the best way to use your Alaska miles.
Persons: Insider's, Merrill, You'll, you'll, Bilt, Marriott, Regis, Chase, we've, Alaska Miles, Finance Insider's, Read, it's, Miles, , Harlan Vaughn Harlan Vaughn, he’s, Harlan, Joseph Hostetler, Joseph, Guy Organizations: Business Insider, Alaska Airlines, Alaska Airlines Business Credit, Marriott, Oneworld, American Airlines, Alaska, of America, Bank of America, Bank of America Alaska Airlines, Alaska Airlines Visa, Bank of America Alaska Airlines Visa Business, Card Alaska Airlines Business, Alaska Airlines Business, Alaska Airlines Lounge, Alaska Airlines You'll, British Airways, Cathay, Qantas, Aer Lingus, Singapore Airlines, Aer Lingus Air Tahiti Nui, Airlines * British Airways, Condor, Al Fiji Airways, Japan Airlines, Air LATAM Airlines Malaysia Airlines, Mokulele, Southern Airways Express Qantas, Alaska Royal Air Maroc, Singapore Airlines Sri, Oneworld Connect, Marriott Bonvoy, Ritz, Carlton, TSA, Global, TSA PreCheck, American Express, Cell, New Hampshire Insurance Company, AIG Company, American, Navy, Hertz, Wine, Alaska Miles Worth ? Alaska Airlines, Finance, Fiji Airways, Emirates, Cathay Pacific, Nonprofit, Dream, Foundation, Nature Conservancy Locations: Alaska, Hawaii, Cathay Pacific, Emirates, Hainan, Iberia, Qatar, Royal Jordanian, Singapore, Marriott Bonvoy, IHG, Marriott, Alamo, Avis, Thrifty, Alaska Miles Worth ?, U.S, Australia, Fiji, East, Africa, Hong Kong, Dubai, Doha, Canada, Europe, Cathay, Asia, Dallas , Texas
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Persons: it's, you've, We're, You'll, Merrill Cash, you'll, Here's Organizations: Business, Bank of America, Card, Bank, of America, Cash, Quicksilver, Chevron, Capital, U.S . Bank, Cell, Sporting, EV, Merrill Cash Management, Credit Card Bank of America, Credit Card U.S, Card U.S, Rewards, Bank Cash Plus, Go Locations: Bank
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe tech pullback is healthy for the markets, says Merrill's Joseph QuinlanJoseph Quinlan, Merrill & BofA Private Bank head of CIO market strategy, joins 'Closing Bell' to discuss the market and economy.
Persons: Merrill's Joseph Quinlan Joseph Quinlan, Merrill Organizations: BofA, Bank
Experts say those stock moves and shuffling sectors are common during a bull market. But Bank of America is calling today's conditions something else — a buffalo market — which is still in the bull family. But unlike the bull market, it may get tired after a strong runup. "It might roam, it might wander in the summer months," said Marci McGregor, head of portfolio strategy at Merrill and Bank of America Private Bank. The firm's outlook sees markets finishing higher this year, based on factors including earnings, the investment cycle, financial conditions, interest rates and generative artificial intelligence.
Persons: Marci McGregor, McGregor Organizations: Financial, Bank of America, Merrill, Bank of America Private Bank Locations: New York City
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Persons: Merrill, You'll, you'll, There's, You've, Chase Organizations: Business Insider, Citi, Premier, Bank of America, of America, Bank of America's, Bank of America Travel Center, TSA, Travel Insurance, The, The Bank of America, Merrill, Bank, America, Travel, Citi Strata Premier ℠, Citi Premier, Chase, Chevron, Business
The Bank of America® Travel Rewards credit card is a good travel credit card for beginners or those who prefer simplicity in earning and redeeming rewards. Bottom LineIf you're in search of a no-annual-fee travel credit card that offers a straightforward points program, the Bank of America® Travel Rewards credit card is worth considering. Bank of America Preferred Rewards Tiers Preferred Rewards Gold: 25% more rewards on eligible Bank of America rewards credit card spending (earn 1.875 points per dollar)25% more rewards on eligible Bank of America rewards credit card spending (earn 1.875 points per dollar) Preferred Rewards Platinum: 50% more rewards on eligible Bank of America rewards credit card spending (earn 2.25 points per dollar)50% more rewards on eligible Bank of America rewards credit card spending (earn 2.25 points per dollar) Preferred Rewards Platinum Honors: 75% more rewards on eligible Bank of America rewards credit card spending (earn 2.625 points per dollar)One other way to boost your returns from the Bank of America® Travel Rewards credit card is by purchasing travel through the Bank of America travel center. No foreign transaction feesGood travel credit cards don't charge foreign transaction fees, and the Bank of America® Travel Rewards credit card is no exception. The Bank of America® Travel Rewards credit card is worth it if you're looking for a simple way to earn and use credit card rewards for travel without paying an annual fee.
Persons: It's, cardholders, you'll, Merrill, Miles you've, there's Organizations: Business, Bank of America, of America, Merrill, Bank, America, Airlines, Bank of, Google, Samsung, Wells, Cell, Mastercard, Chevron
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Persons: Merrill Cash, Merrill There's, Cash, Wells, Read, Merrill, you'll Organizations: Business, Bank of America, The Bank of America, of America, Merrill, Bank, America, Bank of America's, Apple, Google, Samsung, Wells, Chase, Chase Travel, Merrill Cash Management, Mastercard, Chevron Locations: Bank, Wells, U.S, Chevron
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Persons: it's, Cash, cardholders, Merrill, You'll, you've, doesn't, you'll, Uber Organizations: Business, Bank of America, of America, Students, Capital, Walmart, Card
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Persons: Cardholders, There's, That's, Sherwin, Williams, You'll Organizations: Business Insider, U.S . Bank, Citi, Bank of America, EV, of America, U.S . Bank Cash, Wells, Bank, American Express, CVS, Walgreens, IKEA, Lowe's, Bank of America Online Banking, Merill, Merrill, Card U.S, Citi Entertainment, Cash, Rewards Locations: Bath, Williams, Sonoma
When Charles Brill and Merrill Lyons bought land in upstate New York, they imagined building a weekend home there, an escape from their full-time life in Gowanus, Brooklyn. But that was before the pandemic made them rethink the way they lived. For years before they bought the property, said Mr. Brill, 40, a founder of the lighting company RBW, “we would seek out all the different farmers markets of the Hudson Valley and take day trips to different towns,” trying to figure out which places they liked best. They finally settled on an eight-acre lot outside Rhinebeck, N.Y., paying $123,000 in September 2019.
Persons: Charles Brill, Merrill Lyons, Brill Locations: New York, Gowanus , Brooklyn, , Hudson, Rhinebeck, N.Y
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Persons: don’t, you'd, cardholders, Merrill, You'll, you've, doesn't, you'll Organizations: Business, Bank of America, of America, Mobile Banking, Students, Amazon, Target, Walmart, Costco, Sam's, Merrill, Capital, Uber, Capital One Entertainment Locations: Capital
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