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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailA split Congress will be the most 'benign' outcome for markets: Javelin WealthStephen Davies, CEO of financial advisory firm Javelin Wealth Management, says that a split congress will be the most benign outcome for markets, adding a split government will temper some of the "wild spending promises" that have been made during the course of the election campaign
Persons: Stephen Davies Organizations: Wealth Management
Several U.S.-listed funds tracking global stocks pulled back in Wednesday's session as investors considered Donald Trump's victory harmful to international equities. "While the investing landscape remains favorable in the U.S., international markets are very exposed to tariff policy, " said Yung-Yu Ma, chief investment officer at BMO Wealth Management. These moves reflect the divergence between U.S. and international markets as investors around the globe take in America's election results. Still, the U.S.-listed iShares MSCI China ETF (MCHI) shed more than 2% on Wednesday. Indeed, the iShares MSCI Emerging Markets ETF (EEM) slid more than 1% on Wednesday.
Persons: Donald Trump's, Trump's, Yung, Yu Ma, Javier Milei, Adam Turnquist, Turnquist, , Sarah Min, Jesse Pound, Hakyung Kim Organizations: U.S, NBC, BMO Wealth Management, Dow Jones, Trump, Japan's Nikkei, American, ICE, greenback, LPL Financial Locations: Paris, France, Korea, Hong Kong, Taiwan, Chile, U.S, China, Europe, Asia, Pacific, Argentina
JPMorgan CEO Jamie Dimon congratulated Donald Trump on winning the White House. In a memo to staff, Dimon and other top JPM executives called for "bringing our nation together." On Wednesday, JPMorgan CEO Jamie Dimon weighed in to say the time has come to band together as a nation. In a memo to staff, members of the bank's operating committee, including Dimon, congratulated Trump before recalling Dimon's comments from Election Day about national unity. AdvertisementRead the full contents of the Wednesday memo from JPMorgan's Operating Committee about Trump's victory below.
Persons: Jamie Dimon, Donald Trump, Dimon, , Donald Trump's, Kamala Harris, Trump, Jamie, Diana Frost, Kraft Heinz, Judith Kent, Harris, Walz, Kent, Goldman Sachs, David Solomon, JD Vance, Ashley Bacon, Jeremy Barnum, Lori Beer, Tim Berry, Mary Erdoes, Wealth Management Stacey Friedman, Teresa Heitsenrether, Marianne Lake, Consumer & Community Banking Robin Leopold ,, Doug Petno, Global Banking Jenn Piepszak, & Investment Bank Daniel Pinto, JPMorgan Chase Troy Rohrbaugh, & Investment Bank Sanoke Viswanathan, Reed Alexander Organizations: White, Service, Wednesday, JPMorgan, Dimon, Wells, Wall Street, Wealth Management, Consumer & Community Banking, Human, Global Banking, & Investment Bank, International Consumer Locations: Wall, United States, Washington ,, Wells Fargo, Michigan
Goldman Sachs CEO David Solomon on Wednesday commented on Donald Trump's election victoryIn a memo to staff, he said that the bank looks forward to working with Trump on "sound policies." AdvertisementGoldman Sachs CEO David Solomon spoke out Wednesday on the election of Donald Trump as the 47th president of the United States. In a memo to the firm's workforce, Solomon congratulated Trump, who defeated Vice President Kamala Harris in a decisive victory. He said the firm was looking "forward to working with the new administration in support of sound policies that enhance economic growth and financial stability." Related Video How Twitter panic took down Silicon Valley BankMayo also expects a Trump administration to boost dealmaking, including M&A and IPOs — potentially to record levels.
Persons: Goldman Sachs, David Solomon, Donald Trump's, Trump, , Donald Trump, Solomon, Kamala Harris, Mike Mayo, Mayo, Read, , David, Emmalyse Brownstein, Reed Alexander Organizations: Trump, Service, Valley Bank Mayo, Global Banking, Markets, Asset, Wealth Management Locations: United States, Wells Fargo, Valley
But Shelby McFaddin, senior analyst at Motley Fool Asset Management, is looking beyond the end result. "Either potential administrations would bring an increase in infrastructure spending and inflation remains a concern." 'Success story' Looking past the election result, McFaddin named three stocks she likes right now, including shipping and parcel delivery giant United Parcel Service . Calling the company "really interesting," the analyst said it has "been a little bit of a success story," with a rebound in earnings and revenue. It's not necessarily the world's fastest grower, but it is a really reliable company with really strong management," she added.
Persons: Shelby McFaddin, CNBC's, Kenny Polcari, McFaddin, It's Organizations: United Parcel Service, UPS, CNBC, Mastercard Locations: U.S, Washington
Bitcoin, an asset tied to a Trump victory given the candidates courtship of the industry, soared to a record $75,000 . Heading into the election, investors and analysts pointed to several stocks and sectors that could benefit from a Trump win. Here's a roundup of some of those: Steel stocks If Trump regains the presidency, JPMorgan expects steel stocks to outperform . Related stocks that could outperform under a Trump victory include Nucor , Cleveland-Cliffs , Kaiser Aluminum and MP Materials , according to Peterson. Supporters of Trump have also used the stock as a way to invest in a Trump victory.
Persons: Donald Trump ., Trump, Kamala Harris, Here's, Bill Peterson, Peterson, UBS's, Goldman Sachs, Strategas, Lazard, Wolfe, Tesla, Elon Musk's, Marion Laboure, bitcoin, Nic Puckrin, David Zerzos, Zerzos, Marcelli, Seth Seifman, Russell, Joe Biden, IWM, , Halliburton, Trump's, ULTA, Michael Bloom, Sean Conlon, Alex Harring, Fred Imbert, Pia Singh Organizations: U.S, NBC, Stock, Dow Jones Industrial, Trump, JPMorgan, Aluminum, Financials Bank of America, of America, UBS's Trump, UBS, Swiss, Citigroup, Citizens, Wolfe Research, GOP, Trump Media & Technology, Trump Media, ISI, Deutsche Bank, Investors, Jefferies, Military, Strategas, Gas Energy, Evercore ISI, Exxon Mobil, Halliburton, Companies Locations: Nucor, Cleveland, U.S, China, U.S . Southern
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCNBC Trader Panel on post-election positioning regardless which candidate wins the presidencyJosh Brown, Ritholtz Wealth Management co-founder and CEO, Adam Parker, Trivariate Research founder and CEO, Courtney Garcia, Payne Capital Management senior wealth advisor, and Tom Lee, Fundstrat's head of research where investors should think about investing regardless of who wins the election.
Persons: Josh Brown, Adam Parker, Courtney Garcia, Tom Lee, Fundstrat's Organizations: CNBC, Ritholtz Wealth Management, Trivariate Research, Payne Capital Management
Still, investors don’t appear to be letting their jitters get to them — at least not entirely. “Valuations at the market level and individual stock level are always the key to long-term performance. You may have a lot of noise in the short term, but for long-term investors, it’s always going to be all about valuation,” he said. An election year analysis from Danny Noonan at Morningstar Wealth found that investors are significantly better off in the long run if they ignore politics. For investors, that suggests the best strategy may be to keep calm, trade on — and leave the politics at the polling place.
Persons: , Keith Lerner, Wall, Helene, Milton, Lerner, Kamala Harris, Donald Trump, Brent Schutte, Dave Sekera, it’s, Danny Noonan, Noonan Organizations: New, New York CNN, Federal Reserve, Northwestern Mutual Wealth Management Company, Morningstar, Morningstar Wealth, Democrat, Republican, they’d Locations: New York, United States
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCNBC's trading committee breaks down the future of the equity rally post-electionJosh Brown, Ritholtz Wealth Management co-founder and CEO, Adam Parker, Trivariate Research founder and CEO, Courtney Garcia, Payne Capital Management senior wealth advisor, and Tom Lee, Fundstrat head of research discuss the election's impact on equity markets.
Persons: Josh Brown, Adam Parker, Courtney Garcia, Tom Lee, Fundstrat Organizations: Ritholtz Wealth Management, Trivariate Research, Payne Capital Management
Generally, a Trump win is seen as positive for financials given a higher likelihood of deregulation for companies in the space. Traditional oil and gas names are also likely to benefit under a second Trump presidency. One is made up of stocks that benefit after a Harris win; the other would outperform under a second Trump presidency. However, a Harris win is expected to keep current regulation measures in place, and possibly introduce new ones. Private equity giants KKR and Blackstone would also benefit under a Trump win.
Persons: Kamala Harris, Donald Trump, Paul Gallant, Cowen, Gallant, Harris, Goldman Sachs, Daniel Clifton, Strategas, Andrew Garthwaite, Trump, Garthwaite, TAN, we've, Biden, Wells, Ike Boruchow, Boruchow, , Russell, Joe Biden, Morgan Stanley, Crypto, isn't, Nic Puckrin, bitcoin, Marcelli, Financials, Wolfe, Chris Senyek, Lazard Organizations: Congress, U.S ., Trump, U.S . Trump, GOP, Democratic, CNBC Pro, Wall, Strategas, Enterprise, of America, Ford, UBS, Apple, Enphase Energy, Technologies Enphase, Exxon Mobil, Chevron, Trump Media & Technology, Trump Media, Cadence Bank, Viking Therapeutics, Bureau, CNBC, Wolfe Research, Lazard, Private, KKR, Blackstone, Evercore Locations: Washington, of America Cleveland, Cleveland, China
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJosh Brown highlights two stocks poised for breakout: Delta Air Lines and MarriottJosh Brown, CEO of Ritholtz Wealth Management, joins CNBC's 'Halftime Report' to discuss why he sees these two stocks breaking out.
Persons: Josh Brown, Marriott Josh Brown Organizations: Delta Air Lines, Marriott, Ritholtz Wealth Management
Trade Tracker: Josh Brown buys Reddit
  + stars: | 2024-11-04 | 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 EmailTrade Tracker: Josh Brown buys RedditJosh Brown, CEO of Ritholtz Wealth Management, joins CNBC's 'Halftime Report' to discuss why he's buying Reddit here.
Persons: Josh Brown, Reddit Josh Brown Organizations: Ritholtz Wealth Management
Mortgage rates may affect payoff calculusThe mortgage payoff calculus may change based on whether people can outearn their mortgage rates with safe, guaranteed investments, Benz said. For mortgage rates that are 6% or more, paying that balance off will provide a guaranteed return. Admittedly, the argument over whether to pay off mortgages is "much more emotional and psychological than it is financial," Jenkin said. The big money questions people ask themselves to prepare for retirement are just as important as the emotional ones. What brought you joy while you were working may change in retirement, Michael Finke, a professor of wealth management at The American College of Financial Services, tells Benz.
Persons: Jessica Lautz, Benz, JL Collins, Collins, Robert Daly, Ted Jenkin, Jenkin, Michael Finke Organizations: Joint Center for Housing Studies of Harvard University, National Association of Realtors, Benz, Getty, CNBC, CNBC FA, The American College of Financial Services Locations: Atlanta
AdvertisementWhen Morgan Stanley and OpenAI announced their blockbuster partnership at the beginning of 2023, it signaled a competitive advantage for the Wall Street bank. Morgan Stanley, since then, has co-developed a handful of generative AI tools with the AI powerhouse for its lucrative wealth-management business. Morgan Stanley is far from the only financial firm using OpenAI. In his new role, Manahan oversees the bank's innovation council, which launched at the beginning of the year. The council is dedicated to identifying the bank's technology focuses.
Persons: Sean Manahan, Morgan Stanley's, , Morgan Stanley, OpenAI, Andy Saperstein, Jeff McMillan, Manahan, Morgan Stanley execs Organizations: Service, York, Tech, Big Tech, Morgan Locations: Silicon Valley, Manhattan, Manahan, New York
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Big Tech drags down marketsMajor U.S. indexes slumped on Thursday, weighed down heavily by losses in Big Tech shares. While the company's cloud division missed revenue expectations, it's growing faster than it had in the same period last year. CNBC Pro checked in with Teng again to find out how his picks have performed, and if he has changed his mind on the stocks he's betting on.
Persons: Kevin Teng, Teng Organizations: CNBC, Big Tech, U.S, Japan's Nikkei, CSI, Apple, Amazon, P Global, PMI, Boeing, Wrise Private Singapore Locations: Asia, Pacific, Cupertino, China
Dow closes up 563 points as investors shake off jobs report
  + stars: | 2024-11-01 | 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 EmailDow closes up 563 points as investors shake off jobs reportJose Rasco, HSBC Global Private Banking and Wealth Management CIO, and Scott Wren, Wells Fargo Investment Institute senior global market strategist, join 'Closing Bell Overtime' to talk the day's market action.
Persons: Dow, Jose Rasco, Scott Wren Organizations: HSBC Global Private Banking, Wealth Management, Fargo Investment Institute Locations: Fargo
Trade Tracker: Josh Brown buys Baker Hughes
  + stars: | 2024-11-01 | 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 EmailTrade Tracker: Josh Brown buys Baker HughesJosh Brown, CEO of Ritholtz Wealth Management, joins CNBC's 'Halftime Report' to discuss why he's buying the energy name.
Persons: Josh Brown, Baker Hughes Josh Brown Organizations: Ritholtz Wealth Management
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe would expect markets continue to gain in the event of a Trump victory: RBC Wealth ManagementFrederique Carrier, head of investment strategy at RBC Wealth Management, discusses the impact of the upcoming U.S. election on markets.
Organizations: RBC Wealth Management
ESPN President Jimmy Pitaro , who I spoke with this week in an exclusive interview, doesn't shy away from that. Other media companies buy sports rights too, but ESPN buys more, and its entire existence is predicated on it. Yes, ESPN+ has existed since 2018, but ESPN+ has always been ESPN Lite, as I discussed in a CNBC documentary we put out earlier this year. "If that deal delivers for us in terms of growing our ratings, growing our reach – we got Flagship rights. "If that deal delivers for us in terms of growing our ratings, growing our reach – we got Flagship rights.
Persons: Alex Sherman, Jimmy Pitaro, doesn't, Pitaro, That's, it's, There's, Pitaro hasn't, Venu, Fubo, , He's, Shams Charania, Pat McAfee, he's, Zach Lowe, Max Kellerman, Suzy Kolber, Robert Griffin III, Steve Young, Jalen Rose, We're, Alex, you've, Morgan, Cooper Flagg, Flagg, CNBC's Jess Golden, hasn't, Erik, Hag, Ruud van Nistelrooy, Ruben Amorim, Shohei, — Dwyane Wade, Wade, Michelangelo's David, Dwyane Wade Organizations: CNBC, ESPN, Walt Disney Company, Cable, Warner Bros . Discovery, Paramount Global, Disney, ESPN –, Monday, Football, NBA, WNBA, NHL, MLB, College Football, ACC, Masters, Wimbledon, UFC, Revenue, Flagship, CNBC Sport, Morgan Stanley Wealth Management, Gatorade, Manchester United, archrival Manchester City, English Premier League, Sky Sports News, Los Angeles Dodgers, Major League Baseball, Kaseya, Union of European Football Associations, The, Pickleball, CBS, Fox Sports, December's APP, ESPN Headquarters, Washington Post, The Washington Post Locations: Duke, Los Angeles, Dallas, Atlanta, Portuguese, Japan, Miami, Europe, Fort Lauderdale , Florida
Currently, more than 80% of India's energy needs are met by coal, oil and solid biomass, according to the International Energy Agency. On the demand side, the Indian government has aggressively pushed policies that favor vehicles powered by compressed natural gas (CNG), a derivative of liquified natural gas (LNG). Meanwhile, the number of households that could receive piped natural gas is more than 300 million. For instance, natural gas is a crucial ingredient for making fertilizers, and manufacturing it domestically helps increase food security. Seth is also optimistic about India's growth rate for its third and fourth quarters despite slower capital expenditure in some states.
Persons: Punit Paranjpe, Francis Mascarenhas, They're, Maruti Suzuki, GAIL, MGL, of Home Affairs Amit Shah, David Morrison, Shah, Ajay Seth, Seth, Aravind Maiya, Embassy REITs, Maiya, Landsberg Bennett, Michael Landsberg, Landsberg Organizations: Gas, Private, Afp, Getty, International Energy Agency, Energy, Reuters, Maruti, Institute for Energy Economics, Rystad Energy, Citi, JPMorgan, Gujarat Gas, of Home Affairs, Foreign, Department of Economic, Reserve Bank of India, CNBC, Embassy, Fortune, Wealth Locations: Dhamra, Bhadrak district, India's Odisha, India, Europe, Ukraine, Moscow, Russia, Iraq, Saudi Arabia, Pune, Gujarat, Canada, U.S
High-net-worth sports fans can now invest in an index of companies tied to their favorite league. AdvertisementSports fans with money to spare can now reap returns from their favorite leagues thanks to a new investment offering from Morgan Stanley. The Parametric Custom Core Sports League strategy is a portfolio that allows high-net-worth fans to invest a minimum of $250,000 in an index of companies tied to major sports leagues. The offering involves 13 of the biggest sports leagues, from the NFL and NBA to the US Open and Formula 1. Last year, Goldman Sachs unveiled a new unit of dealmakers to pitch investments in teams and stadiums to wealthy clients.
Persons: Morgan Stanley, , Sandra Richards, Morgan Stanley's, Richards, Marc Lasry, Steve Cohen, Goldman Sachs Organizations: Wall, Service, League, NFL, NBA, US, Women's, Morgan Stanley's Global Sports, Entertainment Division, CNBC, Nielsen Sports, Sports, PGA, Yankees, Citi, JPMorgan
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUBS Global Wealth Management: market still 'supportive for equities', but not overpricedBrenda O'Connor Juanas expects solid earnings in the tech space, adding that the macro environment remains supportive for equities, and financials and utilities look attractive from a valuation standpoint.
Persons: Brenda O'Connor Organizations: UBS Global Wealth Management
Morgan Stanley is introducing a new portfolio for investors tied to the most prominent sports leagues. Morgan Stanley is hoping to change that. The idea for the new offering first came about when a Morgan Stanley client asked the bank to design a portfolio made up of the companies that support a specific sport. "This one person represents many, and multiples of many that are looking to invest in sports as a fan looking to get engaged." Morgan Stanley says the portfolio will mimic the risk characteristics of the S&P 500.
Persons: Morgan Stanley, Sandra Richards, Morgan Stanley's, Richards Organizations: Thursday, League, Sports, Morgan Stanley's Global Sports, Entertainment, Nielsen Sports
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGoldman Sachs' Meena Flynn expects earnings growth of 8 to 10 percent in 2025Meena Flynn, Goldman Sachs global private wealth management co-head, join 'Closing Bell' to discuss why she expects the 'Mag 7' to be more muted heading into year-end.
Persons: Goldman Sachs, Meena Flynn
Standard Chartered on Wednesday upgraded its 2024 income guidance as it posted profits in the third quarter that beat expectations, driven by record performance in its wealth management business. After its second quarter earnings report, Standard Chartered in July announced its largest-ever share buyback of $1.5 billion. Standard Chartered said its operating expenses rose 3% to $2.9 billion caused by inflation and business expansion efforts, although efficiency savings did offset some costs. The London-headquartered bank also lifted its 2024 income guidance on Wednesday with operating income to increase towards 10% in 2024. In July, the bank had upgraded the operating income projection to more than 7%, from 5% to 7%.
Persons: LSEG, Bill Winters, that's Organizations: Chartered, HSBC Locations: Asia, London
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