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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed will put off policy action until at least June: Dreyfus and Mellon's Vincent ReinhartVincent Reinhart, Dreyfus and Mellon chief economist and former Fed economist, joins 'Money Movers' to discuss what to expect from the Federal Reserve in March, the risks to inflation, and clues to see an incrementally weaker job market.
Persons: Dreyfus, Mellon's Vincent Reinhart Vincent Reinhart Organizations: Mellon, Fed, Federal Reserve
JPMorgan initiates Light & Wonder as outperform JPMorgan initiated the Australian gambling company with an overweight and said it has earnings momentum. Evercore ISI reiterates Meta as outperform Evercore said it's bullish on Meta heading into earnings later this week. " Evercore ISI reiterates Amazon as outperform Evercore said it's bullish heading into Amazon earnings later this week. We are upgrading Bank of America (BAC) to OW from EW, upgrading Citigroup (C) to OW from UW, upgrading Goldman Sachs (GS) to OW from EW, and upgrading BNY Mellon (BK) to EW from UW. Bank of America reiterates Uber as buy Bank of America raised its price target on the stock to $73 per share from $68.
Persons: Oppenheimer, Raymond James, CrowdStrike, Mizuho, Evercore, it's, Morgan Stanley, Instacart, Morgan, Goldman Sachs, Raymond James downgrades, McDonald's, Wells, Baird, Tesla, TSLA, BTIG, Jefferies, Masimo, MASI, Uber Organizations: Accenture, Mizuho, JPMorgan, Morgan Stanley, Bank of America, Citi, Citigroup, BNY Mellon, BK, UW, Trust, AMD, Salesforce Inc, UBS, Spotify, sss, Western Alliance, WAL, Boeing, Olema Oncology, Breast Cancer, " Bank of America, Netflix, Seaport Locations: OW, UW, Wells Fargo
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvestors are looking to buy spot bitcoin ETFs in the next four to six months: VettaFi's head of researchBen Slavin, BNY Mellon's global head of ETFs, and Todd Rosenbluth, VettaFi's head of research, join CNBC's Bob Pisani on 'ETF Edge' to discuss investing in spot bitcoin ETFs.
Persons: Ben Slavin, Todd Rosenbluth, Bob Pisani
Investing opportunities beyond the Magnificent 7
  + stars: | 2024-01-29 | by ( Bob Pisani | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvesting opportunities beyond the Magnificent 7Ben Slavin, BNY Mellon's global head of ETFs, and Todd Rosenbluth, VettaFi's head of research, join CNBC's Bob Pisani on 'ETF Edge' to discuss how investors are expanding beyond the Magnificent 7 stocks.
Persons: Ben Slavin, Todd Rosenbluth, Bob Pisani
How to best position for rate cuts
  + stars: | 2024-01-29 | by ( Bob Pisani | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow to best position for rate cutsBen Slavin, BNY Mellon's global head of ETFs, and Todd Rosenbluth, VettaFi's head of research, join CNBC's Bob Pisani on 'ETF Edge' to discuss how investors are investing amid rate cuts, bond flows and more.
Persons: Ben Slavin, Todd Rosenbluth, Bob Pisani
ETF Edge: Alternatives to the 'Magnificent 7'
  + stars: | 2024-01-29 | 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 EmailETF Edge: Alternatives to the 'Magnificent 7'Ben Slavin, BNY Mellon's global head of ETFs, joins CNBC's Bob Pisani on 'Halftime Report' to discuss the state of spot bitcoin ETFs and the alternative stocks to the 'Magnificent 7'.
Persons: Ben Slavin, Bob Pisani
Mark Cuban once pictured himself running a major corporation — until he started his first job out of college. The experience "sealed" something he probably already knew, Cuban told CNBC Make It via email: If he wanted to run a company, he'd likely have to build his own. "I was a lousy employee because I was a know-it-all," Cuban told Wired last year. But not every prospective entrepreneur is as successful as Cuban, who launched a software company called Microsolutions in 1983 and kept it afloat through some turbulent early years. Cuban's second business, Broadcast.com, was acquired by Yahoo for $5.7 billion in 1999.
Persons: Mark Cuban, Cuban, Trevor Noah's, unkindly, he's, didn't, he'd Organizations: , University of Indiana, Mellon Bank, CNBC, Software, Wired, Yahoo Locations: Pittsburgh, Cuban, America, Dallas
The researchers tested Binoculars on large sets of data compiled of news writing, creative writing, and student essays. As generative AI tools like ChatGPT explode in popularity, concerns have grown about students using AI to complete academic work while passing it off as their own. At the same time, many students have been wrongly accused of using AI, based on results of AI detection tools. Last year, schools and universities began disabling such AI detection tools. The researchers claimed Binoculars' method corrects for the role a person prompting an AI tool plays in the output, which has been pointed to as a cause for false positives in AI detection tools.
Persons: they've, Abhimanyu Hans, Dustin Moskovitz, Abu Dhabi's Falcon, Hans, Perplexity Organizations: Business, University of Maryland, Vanderbilt University, Carnegie Mellon University, New York University, Tübingen AI, Capital, Amazon Research
The end of workplace loyalty
  + stars: | 2024-01-22 | by ( Aki Ito | ) www.businessinsider.com   time to read: +16 min
Do that, and you generate the kind of trust and loyalty that leads to high productivity and low turnover. A world in which the psychological contract is profoundly broken. In the three decades following World War II, as Rick Wartzman documents in his book " The End of Loyalty ," a booming economy made American companies rich. Today, disillusioned workers might assume that the norm of workplace loyalty was nothing but a capitalistic ruse, a way for companies to exploit their employees. But the new loyalty would recognize that employees have to uphold their end of the bargain.
Persons: I've, Gen Xers, Gen Zers, they'll, Rick Wartzman, Wartzman, Denise Rousseau, Rousseau, who's, Mark, , it's, I'm, he's, quitters, Nick Bloom, Stanford University who's, Anthony Klotz, Klotz, they're, It's, Aki Ito Organizations: Companies, Kodak, GE, Carnegie Mellon University, Stanford University, University College London, Employers, Business
It went across all visual types.”Elizabeth Alexander recites a poem during President Obama's swearing-in ceremonies at the US Capitol on January 20, 2009. She had grown up in DC, and that inauguration day was a homecoming for her. “I’m sure that some people expected too much,” says Wear, the former Obama campaign worker, of Obama’s vision. The fact of the matter is, that (inauguration) day happened, and millions of people were there. We will have a better idea on another inauguration day — in January of 2025.
Persons: Elizabeth Alexander, Barack Hussein Obama, Alexander, ” Alexander, Muhammad Ali, Aretha Franklin, Elie Wiesel, John Lewis, Colin Powell, , , , Obama's, Ron Edmonds, Obama, Obama’s, Martin Luther King Jr, Donald Trump’s, , Trump's, Joe Biden, Jon Cherry, Ed Wolf, Wolf, Barack Hussein Obama —, Barack Obama, Alex Wong, ‘ Hussein, “ Wolf, Clifford L, Alexander Jr, George W, Bush, Laura, Michelle, Tannen Maury, Ronald Reagan, Trump, ” Vivek Ramaswamy, Donald Trump, Alexi J . Rosenfeld, Thomas Sowell, speck, it’s, Shepard, Robert Daemmrich, ” Obama, Michael Wear, John McCain, McCain, ” McCain, we’ve, Mandel Ngan, ” Trump, Nehisi Coates, Coates, Hope ’, ” Coates, , didn’t, ” Wolf, Emmanuel Dunand, “ We’re, hasn’t, Obama — we’re, Rebecca Solnit, John Blake Organizations: CNN, Yale University, Capitol, AP, Confederate, Trump, Rochester Institute of Technology, Metro, Washington, Army, Getty, United, White, Whites, GOP, Republican, Obama, Democratic, Mellon Foundation Locations: Washington ,, America, Russia, Japan, Kenya, American, New York, United States, AFP, Kansas, New York City, Balkans, Minnesota, Arizona, Washington, San Francisco, Michigan, Norfolk , Virginia, Hope
Musk appeared to give Tesla's board an ultimatum on Monday, saying he wants 25% voting control at Tesla or he'll stop growing AI development at the electric-car maker. One way of getting that would be via a dual-class stock structure. This isn't uncommon and could mean Musk wouldn't necessarily get more shares but that the ones he held would deliver more voting power. The company's dual-class stock structure provides Zuckerberg and select executive managers and directors with them. "Zuckerberg probably wouldn't have gone public without a dual-class structure," White said.
Persons: , Elon Musk, Mark Zuckerberg, Musk, he's, Tesla, Zuckerberg, It's, Chester Spatt, Joshua Tyler White, doesn't, White, Ofer Eldar, Michael Dell, Anat Alon, Beck, Erik Gordon, Sam Altman's, Gordon Organizations: Service, Meta, Tesla, Business, Carnegie Mellon University, SEC, Vanderbilt, SpaceX, The Boring Company, UC Berkeley, Western Reserve University, University of Michigan's Ross School of Business Locations: Delaware, OpenAI
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThis market is still really sensitive to Fed expectations, says BNY Mellon's Jake JollyCharlie Bobrinskoy, Ariel head of investment group, and Jake Jolly, BNY Mellon Investment Management head of investment analysis, join 'Closing Bell Overtime' to talk the day's market action.
Persons: BNY, Jake Jolly Charlie Bobrinskoy, Ariel, Jake Jolly Organizations: Mellon Investment Management
For the vast majority of the mission, the Peregrine lander has been controlled solely by its attitude control thrusters, which are tiny engines mounted to the side of the lander and designed to maintain stability or make precision movements. What Peregrine could and couldn’t accomplishAstrobotic was able to power on some of the science instruments and other payloads on board the lander. The Peregrine lander was also able to activate a new sensor, developed by NASA, that was designed to help the spacecraft land on the moon. Likewise, an array of other payloads designed specifically to operate on the moon remain trapped aboard the Peregrine lander. The Peregrine spacecraft is also carrying various mementos, letters and even human remains that customers paid to fly on the mission.
Persons: , Peregrine’s, Peregrine, , John Thornton, Astrobotic, Joel Kearns Organizations: CNN, Payload Services, Astrobotic Technology, Peregrine, NASA, U.S . Government, LRA, Carnegie Mellon University, Mexican Space Agency Locations: Pittsburgh
CAPE CANAVERAL, Fla. (AP) — A U.S. company’s lunar lander will soon burn up in Earth’s atmosphere after a failed moonshot. Astrobotic Technology said its lander is now headed back toward Earth from the vicinity of the moon. Company officials expect the mission to end Thursday. Political Cartoons View All 253 ImagesNASA paid more than $100 million to fly experiments on the Peregrine lander. Another U.S. company, Intuitive Machines, is up next with its own lunar lander due to launch next month.
Persons: Astrobotic, Peregrine, rocketed, Gene Roddenberry, Arthur C, Clarke Organizations: , Astrobotic Technology, ., NASA, Cape Canaveral, Peregrine, Carnegie Mellon University, , Associated Press Health, Science Department, Howard Hughes Medical Institute’s Science, Educational Media Group, AP Locations: CAPE CANAVERAL, Fla, U.S, Cape
BNY Mellon Wealth Management's chief investment officer explained why stocks have limited upside. Sinead Colton Grant has hit the ground running in her new role as the chief investment officer at BNY Mellon Wealth Management. What to expect in the economy this yearThe theme of BNY Mellon Wealth Management's 2024 outlook report is "a healthy slowdown." However, Colton Grant acknowledged that there are serious discrepancies between how high- and low-income households experience the economy. 5 top places to invest nowBNY Mellon Wealth Management may be neutral on equities broadly, but it has a bullish overweight rating on US stocks.
Persons: Sinead Colton Grant, BNY, she's, BNY Mellon, Colton Grant, David Kelly, Colton, Kelly, Colton Grant's Organizations: BNY Mellon Wealth, BNY Mellon Wealth Management, BNY Mellon, BNY, JPMorgan Asset Management, Business, Mellon Wealth Management, Federal Reserve, Mellon, Management, Asset Management, BMO Capital Markets Locations: BlackRock, Invesco
Tiger Woods splits with Nike
  + stars: | 2024-01-08 | by ( Jordan Hart | Madeline Berg | Meredith Cash | ) www.businessinsider.com   time to read: +4 min
Tiger Woods and Nike are splitting up. Woods thanked the Nike cofounder Phil Knight in his statement on the departure. Woods and his son, Charlie Woods, sport matching Nike apparel at the 2022 PNC Championship. AdvertisementDespite the incredibly lucrative nature of its deal with Woods, Nike has increasingly moved out of the golf business in recent years. Andrew Redington/Getty ImagesKnight's company has continued selling golf clothing and shoes — including Woods' apparel line — in the years since.
Persons: Tiger Woods, Woods, Phil Knight, , he's, Forbes, Charlie Woods, Mike Ehrmann, Knight —, Andrew Redington Organizations: Nike, Service, Business, Oregonian, Carnegie Mellon, Riviera Country Club Locations: Los Angeles, LA
This ETF offering could become next year's hot product
  + stars: | 2023-12-16 | by ( Emily Glass | ) www.cnbc.com   time to read: 1 min
BNY Mellon's global head of ETFs suggests exchange-traded funds using options overlays could become next year's hot product. "We are absolutely going to see more of these options-based products come to market," Ben Slavin told CNBC's "ETF Edge" on Monday. "We see it in our own book." Options overlays are a way for investors to hedge against downside. "Ultimately, there's going to be more issuers that are continuing to chase this trend that we're seeing," Slavin said.
Persons: Ben Slavin, CNBC's, there's, Slavin
The ETF flowdown: 2023 is back on pace to be a solid year
  + stars: | 2023-12-15 | by ( Kirsten Chang | ) www.cnbc.com   time to read: +4 min
watch nowDespite a sluggish start to the year, a record number of product launches and a red-hot November have put 2023 back on pace to be a solid year for ETFs. Roughly $1 trillion has gone into money market funds this year, but some are questioning whether the solid year-end stock rally will attract some of those flows back into equities. "You saw that enormous cash pileup going into money markets, and ETF flows were muted. "We talked about the money market funds," he said. He pointed to strong inflows into high-yield ETFs such as the iShares iBoxx $ High Yield Corporate Bond ETF (HYG) and SPDR Bloomberg High Yield Bond ETF (JNK) and SPDR Bloomberg Short Term High Yield Bond ETF (SJNK) — along with dividend ETFs such as the Pacer U.S. Cash Cows 100 ETF (COWZ).
Persons: Ben Slavin, BNY Mellon, CNBC's, Andrew McOrmond, McOrmond, it'll, SPDR, Slavin Organizations: BNY, WallachBeth, SPDR Bloomberg, Pacer, Cash, Tech, RSP Locations: outflows
Tesla is recalling around 2 million of its vehicles in the U.S. to fix Autopilot features that auto safety regulators found to be confusing to drivers, or too easy for them to misuse and abuse. The NHTSA opened an investigation into 11 incidents involving Tesla cars where Autopilot and Autosteer were involved in 2021, a probe which ultimately led to today's voluntary recall. He hopes Tesla and NHTSA will pay special attention to roads with cross traffic, because there have been multiple fatal crashes with trucks in that situation involving Tesla vehicles with Autopilot engaged. If people need to steer, for instance, they must pay attention. The Autopilot system will still be helpful if it just does the accelerating and braking but people could not not pay attention."
Persons: Elon, Twitter —, Tesla, Autosteer, Philip Koopman, Koopman, hasn't, Erik Vinkhuyzen Organizations: SpaceX, Twitter, New York Times, National, Traffic, NHTSA, Federal Reserve, Carnegie Mellon University, CNBC, King's College London, CNBC PRO Locations: New York City, U.S
RFK Jr. backer to spend $15 million to get him on 2024 ballots
  + stars: | 2023-12-05 | by ( ) www.reuters.com   time to read: +2 min
Robert F Kennedy Jr. announces his entry to the 2024 presidential race as an independent candidate in Philadelphia, Pennsylvania, U.S. October 9, 2023. REUTERS/Mark Makela/File Photo Acquire Licensing RightsWASHINGTON, Dec 5 (Reuters) - American Values 2024, a fundraising "Super PAC" supporting third party presidential candidate Robert F. Kennedy Jr., said on Tuesday it plans to spend up to $15 million getting him on the ballot in 10 states that will be important to winning the 2024 race. AV24 was on track to raise nearly $30 million after Kennedy, son of the Democratic senator who was assassinated in 1968, said in October he would run as an independent, AV24 co-founder Tony Lyons told Reuters. Millions have come from a former donor to Donald Trump, Timothy Mellon. Reporting by Heather Timmons Editing by Frances KerryOur Standards: The Thomson Reuters Trust Principles.
Persons: Robert F Kennedy Jr, Mark Makela, Robert F, Kennedy Jr, Kennedy, AV24, Tony Lyons, Donald Trump, Timothy Mellon, Deirdre Golffard, Heather Timmons, Frances Kerry Organizations: REUTERS, Rights, Republican, Democratic, Super PAC, Reuters, Thomson Locations: Philadelphia , Pennsylvania, U.S, Arizona , California , Colorado , Georgia , Illinois , Indiana , Michigan, Nevada , New York, Texas
But the tech powering it has limitations and may struggle to make AI that is as smart as humans. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. This means the public gets to see research faster, but it isn't necessarily reliable. AdvertisementHe gave "kudos" to Dao and Gu "for pushing on alternative sequence architectures for many years now." ChatGPT was a landmark cultural event that sparked an AI boom.
Persons: ChatGPT, , Bill Gates, abut, Albert Gu, we've, vXumZqJsdb — Albert Gu, Gu, Dao, JAX, Jim Fan Organizations: Service, Google, Carnegie Mellon, Tri Dao, SSM, Nvidia Locations: AGI, Tri, pretraining
Since June, the quarterly "dot plot" of policymakers' projections of the appropriate path of policy has shown rates rising another quarter point this year. Investors will be eager for the boost a rate cut would give to markets, and consumers will be relieved by lower mortgage and credit rates. Indeed, in remarks last week Fed Chair Jerome Powell noted that over the last six months inflation had averaged around 2.5%. Investors, meanwhile, have become increasingly fixed on March as a starting point for rate cuts. Between falling inflation and a modest slowdown in growth, Powell said: "We are getting what we wanted to get."
Persons: Vincent Reinhart, Dreyfus, Reinhart, Donald Trump, Michael Gapen, Gapen, Jerome Powell, Powell, Christopher Waller, Howard Schneider, Andrea Ricci Organizations: . Federal Reserve, Mellon, WE, Republican, Bank of America, Fed, Spelman College, Thomson Locations: U.S, Atlanta
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed rate cuts won't happen until second half of 2024, says BNY Mellon's MeskinSonia Meskin, BNY Mellon head of U.S. macro, joins 'Squawk on the Street' to discuss where the markets are relative to the Federal Reserve, the difference between rate cuts and an actual easing cycle, and what risk looks like with what's priced into markets.
Persons: BNY Mellon's, Sonia Meskin, BNY Mellon Organizations: Federal Reserve
Dec 4 (Reuters) - Pando Asset AG, a digital asset management firm based in Switzerland, last week became the latest issuer to submit an application to the U.S. Securities and Exchange Commission to launch an exchange-traded fund (ETF) tied to spot bitcoin prices. Pando becomes the 13th company vying for a share of what the cryptocurrency world believes could become a multi-billion dollar product, SEC filings showed. Others range from asset management giants like BlackRock and Fidelity to more specialized ETF providers like ARK Investments. Pando is a latecomer to the U.S. spot bitcoin race, but already has three other spot crypto exchange-traded products (ETPs) on the SIX Swiss Exchange. Its ETF proposal included Bank of New York Mellon as the administrator of the Pando Asset Spot Bitcoin Trust.
Persons: Pando, Suzanne McGee, Ira Iosebashvili Organizations: Pando Asset AG, U.S . Securities, Exchange Commission, SEC, BlackRock, Fidelity, ARK Investments, SIX Swiss Exchange, Bank of New York Mellon, Pando isn't, ARK Investment Management, Thomson Locations: Pando, Switzerland, U.S
Spokespeople for the banks declined to provide comment ahead of the hearing or did not respond to requests for comment. Kevin Fromer, president of the Financial Services Forum, which represents the CEOs, said he expected Basel to be a focus. Big bank CEOs have been appearing before Congress for several years after the 2007-09 financial crisis and subsequent scandals thrust the industry into Washington's crosshairs. Former Wells Fargo CEO Tim Sloan, meanwhile, resigned in March 2019 after stumbling during a hearing about the bank's regulatory woes. But after years of playing defense, the CEOs are expected to be more assertive, this time backed by Republicans critical of red tape.
Persons: Andy Cecere, William Demchak, Jamie Dimon, Jane Fraser ,, Brian Moynihan, William Rogers, Wells, Bank of America's Brian Moynihan, Citi's Jane Fraser, Wells Fargo's Charles Scharf, Goldman Sachs, David Solomon, Morgan Stanley's James Gorman, Ronald O'Hanley, BNY Mellon's Robin Vince, Sherrod Brown, Brown, Kevin Fromer, Dimon, Elizabeth Warren, Tim Sloan, meanwhile, Tim Scott, Pete Schroeder, Nupur Anand, Tatiana Bautzer, Saeed Azhar, Lananh Nguyen, Michelle Price, Nick Zieminski Organizations: U.S . Bancorp, PNC Financial Services Group, JPMorgan Chase, Co, Citigroup, Jane Fraser , Bank of America, Truist Financial, JPMorgan, Bank of America, Bank of America's, Democratic, Silicon Valley Bank, Financial Services, Big, Former Wells, Republicans, Thomson Locations: WASHINGTON, Wells Fargo, Silicon, Basel, New York
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