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☆ Schonfeld is leading its peers a year after the $11.6 billion firm ended tie-up talks with Millennium. How the industry's biggest funds did in October.
▼ + stars: | 2024-11-04 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +3 min

Schonfeld is up by 15.5% for the year in its flagship fund. They said the flagship fund had been up in 17 of the past 18 months. AdvertisementOctober was a strong month generally for the large multistrategy managers that have dominated industry headlines in recent years. Ken Griffin's Citadel was up by 1.2% last month in the firm's flagship Wellington fund, a person close to the Miami-based fund told Business Insider. AdvertisementMillennium, meanwhile, made 0.4% last month, pushing its annual return to 10%, a person close to Izzy Englander's firm said.

Persons: Schonfeld, —, Ken Griffin's, Izzy Englander's Organizations: Citadel, Service, Schonfeld Strategic Advisors, Partners, Equity, Microsoft, Business, Ken Griffin's Citadel Locations: York, Wellington, Miami

☆ Presidential election offers opportunities — and risks — for ETF investors, experts say
▼ + stars: | 2024-11-04 | by ( Jessica Dickler | ) www.cnbc.com time to read: +3 min

Bloomberg | Bloomberg | Getty ImagesRegardless of the outcome of the U.S. presidential election, there could be some clear winners for exchange-traded funds, or ETFs, experts say. Potential winners and losersIn the months ahead, some ETFs or funds could outperform depending on the election outlook. Exchange-traded funds have steadily gained popularity among investors, with ETF assets crossing the $10 trillion mark in September — a trend experts say is largely due to advantages like lower tax bills and fees relative to mutual funds. Exchange-traded funds are generally known for passive strategies, but there has also been a surge in actively managed ETFs, with the goal of beating the performance of broader markets. watch nowHowever, most financial advisors caution against making hasty changes to your investment portfolio based on the outcome of this election.

Persons: Donald Trump, Kamala Harris —, Kim Wallace, Anu Ganti, Dow, Kristina Hooper, Harris, Invesco's Hooper, Hooper, Trump, Biden, 22V's Wallace, Wallace Organizations: Bloomberg, Getty, U.S, Democratic, ETF.com, Dow Jones Indices, Big Tech, Trump, Congress, Exchange, Federal Locations: Washington, U.S, —

☆ Gen Z, millennials are using AI for personal finance advice, report finds
▼ + stars: | 2024-11-04 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +1 min

A new report by Experian found that 67% of polled Gen Zers and 62% of surveyed millennials are using artificial intelligence to help with their personal finances. Users say that generative AI tools like ChatGPT have helped in areas including saving and budgeting (60%), investment planning (48%) and credit score improvement (48%). The Gen Z respondents were ages 18 to 27 while millennials were ages 28 to 43. According to data Experian provided to CNBC, 98% of Gen Z adults and 98% of millennials had a positive experience with the software. While using generative AI can help as a first step to drawing up a budget or figuring out how to increase your credit score, always verify the information through external resources, experts say.

Persons: Experian, Gen Zers, Christina Roman, millennials, Xers Organizations: Finance, CNBC

☆ Market's set up for a very good rally into year-end no matter who wins election: Fundstrat's Tom Lee
▼ + stars: | 2024-11-04 | 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 EmailMarket's set up for a very good rally into year-end no matter who wins election: Fundstrat's Tom LeeTom Lee, Fundstrat Global Advisors managing partner and head of research, joins 'Squawk Box' to discuss the latest market trends, state of the 2024 election, and more.

Persons: Fundstrat's Tom Lee Tom Lee Organizations: Fundstrat Global Advisors

☆ TGI Friday’s operator files for Chapter 11 bankruptcy amid financial woes
▼ + stars: | 2024-11-02 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +1 min

TGI Fridays, an American casual dining chain, said on Saturday that it has filed for Chapter 11 bankruptcy protection after grappling with prolonged financial challenges and a collapsed deal with UK-based Hostmore. Privately owned by TriArtisan Capital Advisors, TGI Fridays has been a beloved dining destination since its inaugural bar opened in Manhattan, New York, over five decades ago, in 1965. TGI Fridays, owner and operator of 39 domestic “Thank God it’s Friday!” restaurants, said it maintains operations across its corporate-owned ‘happy hour’ dining places in the U.S., adding that it has secured a financing commitment to support operations. Rohit Manocha, executive chairman of TGI Fridays, said: “The primary driver of our financial challenges resulted from COVID-19 and our capital structure. Hostmore, which operated TGI Fridays in Britain through its unit Thursdays (UK), saw its shares crash 90% after the news, and later announced its intention to enter administration, overwhelmed by debt.

Persons: God, Rohit Manocha, ” Organizations: U.S, Northern, Northern District of, TriArtisan Capital Advisors Locations: American, Northern District, Northern District of Texas, Manhattan , New York, U.S, COVID, British, Britain

☆ TGI Fridays files for bankruptcy
▼ + stars: | 2024-11-02 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —TGI Fridays Inc., the American casual dining chain, filed for Chapter 11 bankruptcy protection Saturday. The bankruptcy affects TGI Fridays’ parent company, which operates 39 restaurants, and not the franchisees that control the remaining locations. TGI Fridays is privately owned by TriArtisan Capital Advisors, a private equity firm, so financial results aren’t released. In September, TGI Fridays’ operations in the United Kingdom also ran into trouble. TGI Fridays joins Red Lobster and Buca di Beppo chains, both of which filed for Chapter 11 bankruptcy protection in recent months.

Persons: ”, “, Rohit Manocha, ” John Bringardner, Tiffany, aren’t Organizations: New, New York CNN, CNN, TriArtisan Capital Advisors, It’s Locations: New York, Manhattan, United States, United Kingdom

☆ How a free meal cost an investor his retirement savings
▼ + stars: | 2024-11-02 | by ( Laila Maidan | ) www.businessinsider.com time to read: +9 min

George Wilson learned the hard way that there's no such thing as a free lunch — or, in his case, a free dinner that cost him a chunk of his retirement savings. He also met David Escarcega, one of the hosts and a broker who would eventually advise him to invest in so-called non-correlated, fixed-income alternative products from the now-bankrupt firm GWG. AdvertisementBut those meals aren't really free, Murray said. They're referred to as "free lunch seminars," said Adam Gana, a securities attorney who worked on Wilson's case. In 2017, he decided to renew his investment, according to documents viewed by Insider.

Persons: George Wilson, Wilson, Chris Steak, David Escarcega, Michael Murray, Murray, Adam Gana, Gana, I've, Jean, Escarcega, we're, Wilson wasn't, FINRA, Craig McCann, McCann, he's, Outsized Organizations: GWG, GWG Holdings, Financial, SEC, ADV, CPA, Treasury Locations: GWG

☆ 'The reversion will eventually come': A chief strategist says Goldman Sachs and JPMorgan are right to warn of weak returns for the S&P 500 over the next decade
▼ + stars: | 2024-11-02 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

Goldman Sachs and JPMorgan predict relatively muted S&P 500 returns over the next decade. AdvertisementMuch has been said about the gloomy outlook for the S&P 500 that some of Wall Street's largest investment banks conveyed in recent weeks. Goldman Sachs said in October that the S&P 500 would return 3% annually, on average, over the next 10 years, underperforming current 10-year Treasury yields. Goldman Sachs"There is little argument that U.S. stock market valuations are elevated compared to historical averages. Investors appeared to do that, with the S&P 500 rising 0.4% on Friday to 5,728, 2.3% below all-time highs.

Persons: Goldman Sachs, Lance Roberts, Roberts, —, It's, Goldman, Sam Kuhn Organizations: JPMorgan, RIA, Service, Bank of America, RIA Advisors, Bureau of Labor Statistics Locations: Wall

☆ U.S. election result may come down to just three states this time: APAC Advisors CEO
▼ + stars: | 2024-11-01 | 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 EmailU.S. election result may come down to just three states this time: APAC Advisors CEOSteve Okun, the CEO of APAC Advisors, discusses the final stretch of the U.S. presidential campaign.

Persons: Steve Okun Organizations: APAC, APAC Advisors, U.S

☆ Three Buys and a Bail: Microsoft, Eli Lilly, Peloton, and Snap
▼ + 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 EmailThree Buys and a Bail: Microsoft, Eli Lilly, Peloton, and SnapGina Sanchez, Lido Advisors chief market strategist, joins CNBC's 'The Exchange' to discuss these stocks: Microsoft, Eli Lilly, Peloton, and Snap.

Persons: Eli Lilly, Gina Sanchez Organizations: Microsoft, Lido Advisors

☆ Expect the unexpected in the jobs report
▼ + stars: | 2024-11-01 | by ( Alicia Wallace | ) edition.cnn.com time to read: +11 min

In any other month, the finishing touch would be a clean reading on the labor market from the official jobs report. However, a common thread among economists is that the strikes and hurricanes could take a 100,000-job bite out of the October jobs report. The last time there were back-to-back major hurricanes — Harvey and Irma in 2017 — the forecasts for the following month’s jobs report were for a loss of 33,000 positions. And each contribute to two of the biggest numbers in the monthly jobs report. A key date to keep in mind for the jobs report is October 12, as it anchors the “reference period” for both surveys.

Persons: ’, Claudia Sahm, “ It’s, That’s, aren’t, FactSet, Joe Brusuelas, — Harvey, Irma, Sahm, Oliver Allen, Milton, ”, Harris, Kamala Harris, Donald Trump’s, We’re, Biden, Jared Bernstein, Joe Biden’s, “ Organizations: CNN, Boeing, Reserve, New Century Advisors, Labor, Survey, Bureau of Labor Statistics, of Labor, Challenger, ADP, BLS, RSM, Pantheon Macroeconomics, Republicans, The New York Times, Siena College, Associated Press Locations: Washington and Oregon

☆ Morgan Stanley says ‘this is the most important election’ in a long time for these tax-free assets
▼ + stars: | 2024-11-01 | by ( Michelle Fox | ) www.cnbc.com time to read: +8 min

Next week's presidential election could have a big impact on municipal bonds, according to Morgan Stanley. In that case, the federal tax exemption becomes worth more, said Dan Close, head of municipals at Nuveen. However, studies have shown a move of just a couple percentage points "doesn't really move the needle" for muni demand, Brandon said. The TCJA increased the AMT exemption and raised the income level at which the exemption would phase out. That's because banks and insurance companies in the U.S. own about a quarter of all outstanding muni bonds, he explained.

Persons: Morgan Stanley, Donald Trump, Kamala Harris, Craig Brandon, Harris, Dan Close, Brandon, MOrgan Stanley, munis, Nuveen's, —, Close, Trump, Morgan Stanley's Brandon, Byron Anderson, He's Organizations: taxpers, AMT, Trump, muni, munis, Republican, Medicare, Democratic, AAA, Investments Locations: Nuveen, U.S

☆ Election next week holds big implications for stock market, especially the control of Congress
▼ + stars: | 2024-11-01 | by ( Sarah Min | ) www.cnbc.com time to read: +8 min

But the true implications for investors monitoring the election may lie in which party controls Congress, rather than who will sit in the White House. .SPX YTD mountain S & P 500 The importance of whichever party controls Congress was highlighted by Trump's recent trips outside battleground states such as New Mexico , a state that hasn't voted for a GOP presidential nominee in roughly 20 years. On the other hand, Evercore ISI's Emanuel expects a Harris victory, with a Democratic sweep of Congress, could result in the S & P 500 falling to roughly 5,700. The S & P 500 slid 1%, while the Nasdaq dipped 0.5%. Earnings season continues with about 100 S & P 500 companies confirmed to report.

Persons: Donald Trump, Kamala Harris, Trump, Nanette Abuhoff Jacobson, I'm, Abuhoff Jacobson, hasn't, Brian Burrell, Jay Hatfield, Harris, Hatfield, Evercore ISI's Julian Emanuel, Evercore ISI's Emanuel, Jerome Powell's, Ralph Lauren, Warner, Alex Harring Organizations: NBC, Congress, House, Democratic, Republican, Hartford Investments, GOP, Thornburg Investment Management, Infrastructure Capital Advisors, Senate, Wednesday, Regional Banking, Treasury, Federal Reserve, Dow Jones, Nasdaq, National, Marriott International, Diamondback Energy, Wynn Resorts, Palantir Technologies, NXP Semiconductors, PMI, PMI Services, Services PMI, Petroleum, Brands, Technology, Computer, CVS, Howmet Aerospace, Gilead Sciences, Labor, Consumer, Moderna, Molson Coors Beverage, Halliburton, Hershey Co, Warner Bros, Expedia, Akamai Technologies, Paramount Locations: New Mexico, Albuquerque, Santa Fe , New Mexico, Hartford, Albemarle, Qualcomm, Michigan

☆ Record numbers of wealthy Americans are making plans to leave the U.S. after the election
▼ + stars: | 2024-11-01 | by ( Robert Frank | ) www.cnbc.com time to read: +2 min

A growing number of wealthy Americans are making plans to leave the country in the run-up to Tuesday's election, with many fearing political and social unrest regardless of who wins, according to immigration attorneys. While talk of moving overseas after an election is common, wealth advisors said this time many of the wealthy are already taking action. Volek said that for the first time, wealthy Americans are far and away the company's largest client base, accounting for 20% of its business, or more than any other nationality. He said the number of Americans making plans to move abroad is up at least 30% over last year. A survey by Arton Capital, which advises the wealthy on immigration programs, found that 53% of American millionaires say they're more likely to leave the U.S. after the election, no matter who wins.

Persons: Robert Frank, We've, Dominic Volek, Volek, David Lesperance, Lesperance, it's Organizations: Henley & Partners, Associates, Arton

☆ Jobs report impacted by temporary negative factors, says CEA chair Jared Bernstein
▼ + stars: | 2024-11-01 | 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 EmailJobs report impacted by temporary negative factors, says CEA chair Jared BernsteinJared Bernstein, Council of Economic Advisors chair, joins CNBC's 'Money Movers' to discuss how to understand the most recent jobs data, gas prices, and more.

Persons: Jared Bernstein Jared Bernstein Organizations: Economic Advisors

☆ Biden hosts formal ceremony to celebrate federal support for Hispanic-serving institutions
▼ + stars: | 2024-10-31 | by ( The Associated Press | ) www.nbcnews.com time to read: +4 min

President Joe Biden hosted a formal ceremony Wednesday to publicly celebrate his executive order establishing an initiative to increase funding for Hispanic-serving institutions and create a board of advisors on HSIs. Flores said the executive order shows a federal understanding of how crucial HSIs are to the future of the nation. The more than 500 HSIs in the U.S. and Puerto Rico serve more than 4.7 million students every year, according to federal data. Many students are low-income, and nearly a third are eligible for Pell grants, which are federal scholarships for students in need. “The president’s executive order will strengthen these critical institutions and build their capacity to provide economic mobility for all their students.”

Persons: Joe Biden, Education Miguel Cardona, Biden, Antonio R, Flores, ” Flores, Pell, ”, Neera Tanden Organizations: Census, Education, Hispanic Association of Colleges, Universities, House, Associated Press Locations: U.S, Puerto Rico, American

☆ Key inflation rate hits 2.1% in September, as expected, closing in on Fed target
▼ + stars: | 2024-10-31 | by ( Jeff Cox | Jeff Cox Is A Finance Editor With Cnbc.Com Where He Covers All Aspects Of The Markets | Monitors Coverage Of The Financial Markets | ) www.nbcnews.com time to read: +3 min

Inflation increased slightly in September and moved closer to the Federal Reserve’s target, according to a Commerce Department report Thursday. The personal consumption expenditures price index showed a seasonally adjusted 0.2% increase for the month, with the 12-month inflation rate at 2.1%, both in line with Dow Jones estimates. Fed officials target inflation at a 2% annual rate, a level it has not achieved since February 2021. The annual rate was 0.1 percentage point higher than forecast but the same as in August. Consumer spending rose 0.5%, topping the outlook by 0.1 percentage point.

Persons: Dow Jones Organizations: Commerce Department, Fed, Energy, Labor Department, of Labor Statistics

☆ Intel shares jump 9% on earnings beat, uplifting guidance
▼ + stars: | 2024-10-31 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Intel shares rose 9% in extended trading on Thursday after the chipmaker reported better-than-expected earnings and issued quarterly guidance that topped estimates. Intel called for fiscal third-quarter adjusted earnings of 12 cents per share and revenue between $13.3 billion and $14.3 billion. Analysts had expected 8 cents in adjusted earnings per share and $13.66 billion in revenue. During the quarter, Intel announced the launch of Xeon 6 server processors and Gaudi artificial intelligence accelerators. As of Thursday's close, Intel shares were down about 57% in 2024, while the S&P 500 index had gained 20%.

Persons: Pat Gelsinger, Dave Zinsner, Gaudi, Harvest's Paul Meeks Organizations: Intel, CNBC, Qualcomm, Computing, StreetAccount, Revenue, Data Center Locations: Taipei, Taiwan

☆ Expect the unexpected in Friday’s jobs report
▼ + stars: | 2024-10-31 | by ( Alicia Wallace | ) edition.cnn.com time to read: +10 min

☆ GMO's Tom Hancock on why he favors semiconductor equipment companies
▼ + stars: | 2024-10-31 | 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 EmailGMO's Tom Hancock on why he favors semiconductor equipment companiesLee Munson, CIO for Portfolio Wealth Advisors, and Tom Hancock, portfolio manager for the GMO U.S. Quality ETF, join CNBC's 'The Exchange' to discuss how to play tech trade, winners and losers in AI, and more.

Persons: Tom Hancock, Lee Munson, CNBC's Organizations: Wealth, Quality

☆ Friday's jobs report is expected to show the slowest pace of hiring in years
▼ + stars: | 2024-10-31 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Goldman Sachs estimates that Helene could shave as much as 50,000 off the payrolls count, though Hurricane Milton probably happened too late to impact the October count. The Boeing strike, meanwhile, could lower the total by 41,000, added Goldman, which is forecasting total payrolls growth of 95,000. Data has been solidYet indicators leading up to the much-watched jobs report show that hiring has continued apace and layoffs are low, despite the damage done from the storms and the strikes. Still, the White House is estimating that the events cumulatively may hit the payrolls count by as many as 100,000. The "disruptions will make interpreting this month's jobs report harder than usual," Jared Bernstein, chair of the Council of Economic Advisers, said Wednesday.

Persons: Angus Mordant, Dow Jones, Milton, Michael Arone, Arone, Goldman Sachs, Helene, Hurricane Milton, Goldman, Jared Bernstein Organizations: Bloomberg, Getty, of Labor Statistics, Hurricanes, Boeing, State Street Global Advisors, of Economic Advisers Locations: Catskill , New York, U.S, Hurricane

☆ Market Navigator: Opportunities in China’s economy
▼ + stars: | 2024-10-31 | 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 EmailMarket Navigator: Opportunities in China’s economyJason Hsu, Rayliant Global Advisors founder, joins 'Power Lunch' to discuss China’s better-than-expected PMI and if it's time to invest in the economy.

Persons: Jason Hsu Organizations: Rayliant Global Advisors

☆ Private job creation totaled a stunning 233,000 in October, far more than expected, ADP says
▼ + stars: | 2024-10-30 | by ( Jeff Cox | Jeff Cox Is A Finance Editor With Cnbc.Com Where He Covers All Aspects Of The Markets | Monitors Coverage Of The Financial Markets | ) www.nbcnews.com time to read: +2 min

ADP said it was the best month for job creation since July 2023. “Even amid hurricane recovery, job growth was strong in October,” ADP chief economist Nela Richardson said. Job creation was strongly concentrated in companies with 500 or more employees, which added 140,000 of the total. The ADP report traditionally tees up the more closely watched nonfarm payrolls count from the Bureau of Labor Services. The BLS report showed private job gains of 223,000 in September and 254,000 total payrolls growth.

Persons: Dow Jones, Nela Richardson, Helene, Milton — Organizations: North Carolina, Boeing, Federal Reserve, Manufacturing, Bureau of Labor Services, ADP, BLS Locations: U.S, Florida, North

☆ The U.S. economy grew at a 2.8% pace in the third quarter, less than expected
▼ + stars: | 2024-10-30 | by ( Jeff Cox | Jeff Cox Is A Finance Editor With Cnbc.Com Where He Covers All Aspects Of The Markets | Monitors Coverage Of The Financial Markets | ) www.nbcnews.com time to read: +2 min

The U.S. economy posted another solid though slightly disappointing period of growth in the third quarter, propelled higher by strong consumer spending that has defied expectations for a slowdown. The economy accelerated at a 3% pace in the second quarter. Personal consumption expenditures, the proxy for consumer activity, increased 3.7% for the quarter, the strongest performance since Q1 of 2023. The release comes with the Federal Reserve poised to lower inflation rates further despite the seemingly strong economy and inflation that remains above target, though far from its peak in mid-2022. Markets widely expect the Fed to cut another quarter percentage point off its benchmark short-term borrowing rate when policymakers conclude their two-day meeting on Nov. 7.

Persons: Dow Jones Organizations: Gross, Commerce Department, Federal Reserve Locations: U.S

☆ Why the October jobs report on Friday could sink the market's soft-landing narrative
▼ + stars: | 2024-10-30 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

September's payrolls report exceeded expectations, but economists see weak gains for October. Even with lower expectations, a poor print could reset the market's narrative around a soft landing. AdvertisementThe narrative around ongoing labor-market strength revived with September's payrolls report, which topped economists' expectations by over 100,000 jobs. "The October jobs report will likely show a severe but short-lived hit from hurricanes Helene and Milton," Adams said. Another sign that September's jobs numbers may have been overstated is that other employment indicators haven't started to trend upwards.

Persons: September's, —, Hurricanes Milton, Helene, Tom Essaye, Ben McMillan, McMillan, Goldman Sachs, there's, Goldman, Claudia Sahm, Michael Cuggino, Bill Adams, Milton, Adams, Neil Dutta, David Rosenberg, Rosenberg, Dutta Organizations: Service, Bureau of Labor Statistics, Hurricanes, Boeing, IDX Advisors, of Labor Statistics, Comerica, Funds, Federal Reserve, Macro, BLS, PMI

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