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Goldman Sachs analysts upgraded their growth forecast for China from 4.7% to 4.9% for this year. AdvertisementChina may not fall too short of its growth targets this year after all, Goldman Sachs analysts said. The analysts also upgraded their growth forecast for next year, from 4.3% to 4.7%. Advertisement"The '3D' challenges - deteriorating demographics, a multi-year debt deleveraging trend, and the global supply chain de-risking push are unlikely to be reversed by the latest round of policy easing," they added. China's recent stimulus pushes have aimed to prop up its weak economy, which has been plagued by a struggling property sector and weak domestic demand.
Persons: Goldman Sachs, , Goldman, China's Organizations: Service, Ministry of Finance, National Development, Reform Locations: China, Beijing
Wells Fargo stock hit new multi-year highs on Monday after Wall Street analysts praised the bank's third-quarter earnings report. Investors are mulling a slew of positive analysts' calls after Wells Fargo's better-than-expected quarterly earnings . WFC 5Y mountain Wells Fargo 5 years In response, Barclays raised Wells Fargo's price target to $75 apiece from $66 on Sunday, implying roughly 23% upside from Friday's prior close. In fact, in Jim's Sunday column , he argued that Wells Fargo's earnings report may be the best of the batch so far. Wells Fargo bank signage is seen on Broadway on April 12, 2024 in New York City.
Persons: Wells, Wells Fargo, That's, Wells Fargo's, Charlie Scharf, Piper Sandler, JPMorgan Chase, Jamie Dimon, Goldman Sachs, Morgan Stanley, Jim, we're, dealmaking, Jim Cramer, Charlie Scharf's, Piper Sandler's, Jim Cramer's, Michael M Organizations: Wall, Barclays, Wells, Federal Reserve, JPMorgan, Bank of America, Citigroup, Wall Street, Club, CNBC, Broadway, Santiago, Getty Locations: Wells Fargo, Wells, New York City
The Intuit Dome, the new home of the LA Clippers, opened with over 1,400 toilets to cut down on lines. Ex-Microsoft CEO Steve Ballmer spent $2 billion on the arena, which opened in August. AdvertisementThe Intuit Dome — the new home of the LA Clippers — opened two months ago, and team owner Steve Ballmer is particularly proud of the bathrooms. Related storiesThe Intuit Dome also features a massive, double-sided "Halo" screen at its center, which is made up of over 70 LED displays. The massive double-sided "Halo" display at the Intuit Dome arena, home of the LA Clippers.
Persons: Steve Ballmer, , Ballmer, he's Organizations: Intuit, LA Clippers, Microsoft, Service, NBA, Clippers
CNN —Sunday marks one month since members of the International Association of Machinists began their strike against Boeing. The cost: nearly $5 billion, according to a new analysis by Anderson Economic Group, shared exclusively with CNN. Boeing’s workers and shareholders make up the bulk of the strike losses, at $3.7 billion, the new analysis shows. “Suppliers, Seattle-area businesses, and Boeing customers are paying part of the price,” said Patrick Anderson, CEO of Anderson Economic Group. Boeing’s customers — the airlines — are also feeling the financial pain, with $285 million in losses to Boeing customers worldwide.
Persons: , Patrick Anderson, Anderson, ” Kelly Ortberg, ” Stephanie Pope, Pope, , John Holden, ” Holden Organizations: CNN, International Association of Machinists, Boeing, Anderson Economic Group, IAM, “ Suppliers, Anderson Economic, FAA, Department Locations: Everett , Washington, Seattle, Boeing Seattle
He lives on a farm, and says farm work shows his sons delayed gratification. I continued to build my real estate portfolio, and also created software to support others in the real estate business. I invest in real estate and run multiple companies, including a real estate investing course that uses software I developed. My middle son enrolled in college and completed two years before realizing college wasn't for him. He took my real estate investing courses, and I gave him free access to our software (which normally costs $100 a month) so he could build his real estate portfolio.
Persons: Greg Clement, Clement, , I've, it's Organizations: Service, Health Locations: Ohio
At the same time, the brand's popularity may have peaked and is "on the way out," teens said in the firm's annual survey. While Stanley's multi-colored insulated cups still have considerable caché, upper-income teens told Piper Sander that the products could soon see the same fate as skinny jeans. Upper-income male teens surveyed ranked Stanley cups as their fifth-most fashion trend on the way out. Keith told Business Insider the survey's fashion trend question is open-ended, meaning that respondents are not prompted by a list of options. "They really kind of struck gold with these larger, thick cups, with the handle and a straw," Keith told BI.
Persons: Piper Sandler, Stanley, , Piper Sander, Peter Keith, Alexia Morgan, Keith, doesn't, weren't, Piper Sandler's, Morgan, hasn't, Dominick Organizations: Service, CNBC, PMI
Contradictory messages about inflation and the labor market have investors on guard. Price growth is slowly falling from its peak, but it exceeded expectations in September after a hot reading in August. AdvertisementInflation is a threat that won't sink the economyWhile there's plenty of economic data to get excited about, persistent price growth is a problem. "If we're going to be data dependent, we have to at least look at the data," Sosnick said. Higher-than-hoped inflation is rarely compatible with an economic downturn, so if price growth does persist, it likely won't be in an earnings-crushing contraction.
Persons: , Steve Sosnick, they've, John Kerschner, Janus Henderson, Sosnick, Preston Caldwell, Morningstar's, Jim Baird, Plante, Baird, Joe Quinlan —, Skyler Weinand, Regan, Weinand, We've Organizations: Service, US, of Labor Statistics, Federal Reserve Bank of Atlanta, Interactive Brokers, Business, Manufacturing, Index, Janus, Janus Henderson Investors, Equity, Financial, Merrill, Private Bank, Bank of America, Regan Capital, Fed Locations: China
And they are long-shot races, especially during a presidential election, when ticket-splitting isn’t as common as it used to be. In Florida and Texas, Democrats are focusing on state abortion bans to try to push beyond their recent losses in those states. Cruz’s campaign spent almost $5 million on ads in September and $4 million in the first 10 days of October. The spending disparity is less stark in Florida, where in September Mucarsel-Powell’s campaign spent $8.6 million and Scott’s campaign spent $2.1 million. In Maryland, the Senate race features a similar dynamic, with the race rated by Cook as “Likely Democrat,” even though Harris is expected to win there easily.
Persons: Donald Trump, Kamala Harris, Larry Hogan, Colin Allred, GOP Sen, Ted Cruz, Debbie Mucarsel, Powell, Rick Scott, Sen, Andrew Harnik, Allred, Cruz, Scott, “ There’s, they’ve, Scott “, , , ” Cruz, Angela Alsobrooks, Michael Ciesielski, haven’t, Amy Walter, Dan Osborn, Deb Fischer, Cook, Harris, Hogan, Alsobrooks, ” Alsobrooks, ” Sen, Anna Rose Layden, Osborn, ” Osborn, Bernie Sanders ’, Pete Ricketts, Fischer, Derek Oden, Dan Osborn isn’t, Oden Organizations: Senate, Republicans, Gov, Democratic Senatorial, Democratic, GOP, Lone Star State, Sunshine State, Capitol, PAC, state’s Republican Party, Republican, NBC News, Democrats, Texans, Democrat, Maryland Public Television, AP, , “ Lean Republican, Prince George’s, National Republican, Committee Locations: Florida , Texas , Nebraska, Maryland, Florida, Texas, Nebraska, ” In Texas, Cruz, Cancun, Harris County, America, Owings Mills, Md, Montana and Ohio, Michigan, Arizona, Pennsylvania
I took my kids to a family-centric, all-inclusive resort in Mexico this summer. My kids had fun, but I was the one who needed to be taken care of, and I loved it. There was only one option that made sense: An all-inclusive resort. The magic of an all-inclusive resort is that when your kids don't eat their steak or their $20 chicken nuggets, it doesn't make you want to cry inside. While I can't live at an all-inclusive resort or afford to hire a personal butler to take care of my needs 24/7, I am worth investing in.
Persons: I'm, , tasker, Kitty, Yari Organizations: Service, resort's Kids Locations: Mexico, Caribbean, American
The classic American dream of owning a home with a white picket fence has never looked more different. But when buyers get creative, is it worth the money? From converting an abandoned high school to luxury apartments, to decommissioning an airplane and setting it up in the woods, these homeowners defy all odds of convention. Take a look inside all of the unique homes in this special abandoned properties episode of Unlocked.
This time of year typically tests nerves, more so when — as now — an election is onrushing and the S & P 500 was already up 20% for the year. Since June 30, the equal-weighted S & P 500 has gained 9.5%, more than triple the Nasdaq 100's rise. A buyer at the mid-July S & P 500 peak of 5667 sustained a quick 8% tumble in three weeks. Goldman Sachs calculated VIX being this elevated with the S & P 500 calmly clicking to record highs is essentially unheard-of. Cash that's still yielding well more than inflation and bonds holding their value allow investors to shoulder higher equity exposures rather than rotating out.
Persons: isn't, it's, Goldman Sachs, Cash, Friday's Organizations: Federal Reserve, Nasdaq, American Association of, Deutsche, , Bank
Now that the Federal Reserve has started to cut the federal funds rate, those yields are moving lower. Lincoln Financial's analysis shows that cash yields have historically fallen by 2%, on average, twelve months after the start of a Fed cutting cycle. What to do with excess cash Instruments like CDs, high-yield savings accounts and money market funds are a good place to stash cash for emergencies and upcoming expenses. However, the forward market implies that they should start to look appealing relative to money funds in about six months, Abate wrote. "We expect investors to rotate from money funds into IG only if compensated for the risk," he noted.
Persons: Joe Boyle, Sallie Mae, Goldman Sachs, Marcus, Michael Kaye, Jayson Bronchetti, Lincoln, Boyle, Lincoln Financial's Bronchetti, Bronchetti, we've, Joseph Abate, Abate Organizations: Hartford Funds, Investors, Federal Reserve, American, Financial, Synchrony, Fed, Lincoln Financial, Bloomberg U.S, Barclays, Reserve, IG Locations: Wells Fargo, U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCIO says 25 basis point cuts by the Fed seem likely but don't rule out another surpriseFabiana Fedeli, chief investment officer for equities, multi-asset and sustainability at M&G Investment, comments on the Federal Reserve's next moves.
Persons: Fedeli Organizations: G Investment, Federal
Beijing Reuters —China will “significantly increase” government debt issuance to offer subsidies to people with low incomes, support the property market and replenish state banks’ capital as it pushes to revive sputtering economic growth. “There is still relatively big room for China to issue debt,” he said. Reuters reported last month that China plans to issue special sovereign bonds worth about 2 trillion yuan ($284.43 billion) this year as part of fresh fiscal stimulus. Separately, Bloomberg News reported that China is also considering injecting up to 1 trillion yuan ($142 billion) of capital into its biggest state banks to increase their capacity to support the economy, primarily by issuing new sovereign bonds. Swedish furniture retailer Ikea, whose 39 stores in China have felt the spillovers from the property crisis, urged Beijing on Thursday to deploy further stimulus.
Persons: Lan Foan, , Zheng Shanjie, , Lan Organizations: Beijing Reuters, Finance, National Development, Reform Commission, Communist Party’s, Reuters, Bloomberg News, Local, Investment, Ikea Locations: Beijing, China, China’s, Swedish
Elon Musk surprised viewers with the unveiling of Tesla's Robovan at the 'We Robot' event Thursday. Musk shared on X that the Robovan's design was inspired by Art Deco trains. But the Robovan's exterior aesthetic appears to be inspired by the early 20th century Art Deco design period. In response to a user who asked about what inspired the design, Musk replied, "Art Deco trains." Art Deco trains were a product of the Art Deco era, which took place in the 1920s and 1930s.
Persons: Elon Musk, Tesla's Robovan, Musk, , Tesla, — Tesla, Robovan, 🎯, ike Organizations: Art Deco, Service, Art Locations: lon, usk, ehicles
Internal research accidentally revealed this week indicates TikTok knew its algorithm was harmful. Lawyers for children harmed by social media say the apps have long known they are hurting kids. According to NPR, TikTok's internal documents show officials at parent company ByteDance discussing internal studies that show the app can harm children. According to NPR, the unredacted internal documents show that TikTok touted its tools for limiting teens' screen time despite knowing from its own research that these features had "little impact." Matthew Bergman, a founding attorney of the Social Media Victims Law Center, which represents over 3,000 plaintiffs in cases of adolescents harmed by social media, told BI that the unsealed information is "certainly consistent with what we're seeing" across TikTok and other social media.
Persons: TikTok, , Adam Wandt, John Jay, Wandt, Jayne Conroy, Simmons Hanly Conroy, Conroy, it's, Matthew Bergman, Bergman Organizations: Service, Kentucky Public Radio, NPR, John, John Jay College of Criminal, Social Media, Law Center
AdvertisementThe small Swiss town of Gstaad, nestled in the Bernese Alps, looks like a setting ripe for a Sound of Music-inspired fairytale. Longevity Investors Conference/David BiedertThis is where longevity seekers come each fall for an intimate conference connecting investors to entrepreneurs and scientists. AdvertisementYes, there is still some Swiss cheese, wine, and desserts on offer at the Longevity Investor's Conference for those who wish to indulge. Longevity Investors Conference/David BiedertInvestment is flowing into early-stage longevity companies that are bringing tests and products to market. Longevity Investors Conference/David BiedertEquipped with Starlink satellite internet, the boat is designed for "floating coworking."
Persons: , David Biedert, Moritz, Marc Bernegger, Longevity.Technology, who've, Bryan Johnson, Nir Barzilai, Alex Colville, Emil Kendziorra, Tobias Reichmuth, rapamycin, berberine, nature's, Reichmuth, David Furman, who'd, Julie Andrews, Madonna, Valentino Organizations: Business, Service, Longevity, Conference, Academy for Health, David, Bold, Michelin Locations: Switzerland, Gstaad, Bernese, St, Singapore, Tel Aviv, Age1, San Francisco, Antarctica, Sardinia, Italy, Okinawa, Japan, Zurich
“I am the hopey changey guy so I understand people feeling frustrated, feeling we can do better,” Obama said. Obama slams Trump over false hurricane conspiracy theoriesThe former president on Thursday accused Trump of violating basic American values. “When did that become OK?”But the Trump campaign is not letting go of claims that were debunked even by many Republican state and local officials. At a Harris campaign office, Obama wondered whether the reticence of some “brothers” to support the Democratic nominee came down to sexism. But Democratic concerns about Harris’ campaign are palpable.
Persons: Barack Obama, Kamala Harris, , Obama, Donald Trump, ” Obama, , , Bill Clinton, Trump, Harris, , Joe Biden, Obama’s, CNN’s Kayla Tausche, Birtherism, Biden, “ You’ve, ” Sen, JD Vance, CNN’s Edward, Isaac Dovere, He’s, he’s, Hillary Clinton, Quinn Glabicki, Howard, Will Trump Organizations: CNN, White, Democratic, Republican, GOP, , Univision, Trump, Pittsburgh Locations: Ohio, Pennsylvania, Pittsburgh, America, Iowa, US, United States, Nevada, Arizona, Michigan , Wisconsin, Georgia
The picturesque event marked the official transition from "Brat summer" to "Brat autumn." We were there to celebrate "Brat and It's Completely Different But Also Still Brat," a remixed version of, you guessed it, "Brat," Charli's sixth studio album and bonafide phenomenon. Charli XCX threw a listening party to celebrate the release of her "Brat" remix album. Related storiesThe remix album rollout proves that 'Brat' can outlast the changing seasonsThe "Brat summer" campaign was clever and undeniably successful — not to mention lucrative. Charli herself has acknowledged this, posting "goodbye forever brat summer" on X (formerly Twitter) on Labor Day.
Persons: Charli XCX, , Charli, Henry Redcliffe, Troye Sivan, Barack, she'll, Jenna Adler, Henry Redcliffe That's, Charli could've, It's, Mark di Suvero, Alexander Calder, Ariana Grande, Storm King Organizations: Storm King Art Center, Service, Pitchfork, Storm, Billboard, CAA, Labor Locations: New York, Hudson Valley, Madison, Los Angeles, Manhattan, Brooklyn
In the past five years, four other alums have either shuttered or stopped trading hedge fund strategies. It's the latest spinoff from long-running Tiger Cub Lone Pine Capital to shutter. Lone Pine, the $16 billion firm led by co-chief investment officers Kelly Granat and David Craver, was founded in 1997 by billionaire Steve Mandel. Inside the Lone Pine family treeGaonkar's experience is far from the norm for Lone Pine alums though. Firms like Lone Pine, Tiger Global, Coatue, Viking Global, Maverick, Light Street, and others have lasted for decades and minted billionaires along the way.
Persons: Scott Coulter's, Mala Gaonkar, , Coulter, Cowbird, Pine, Kelly Granat, David Craver, Steve Mandel, Mandel, Julian Robertson's, Lone, Coatue, redemptions, Gaonkar, David Byrne, SurgoCap, Abobe, David Stemerman's, Scott Phillips, Matt Iorio's, Li Ran's, Brian Eizenstat's, Paul Eisenstein's, Nikhil Trikha, Arthur Wit, that's, Andreas Halvorsen's, Dan Sundheim's, Ben Jacobs, Ning Jin, Marco Tablada, Robertson, Tom Purcell Organizations: Service, Business, Lone Pine, Julian Robertson's Tiger Management, Cubs, Roberston's Tiger Management, Tiger, CNBC, Nvidia, GE, Figma, Pine, Latimer, Elm, Sky Capital, CenterBook Partners, Ampersand Capital Group, Global, Fund Research, Tiger Cub, Tiger Management, Viking Global, Viking Locations: Lone, Lone Pine, Granat, Texas, Li Ran's London, California, Viking
From Side Hustle To Multi-Million Dollar Business
  + stars: | 2024-10-10 | 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 EmailFrom Side Hustle To Multi-Million Dollar BusinessOn this episode of Millennial Money, we talked with a mom who negotiated for a better salary and found more work life balance, a software engineer who used obsessive budgeting to buy a five bedroom house, and a power couple with businesses earning over $2 million in revenue. Watch the show Sundays at 5pm ET on CNBC.
Organizations: CNBC
A tip from the SEC led federal prosecutors to set up a fake company to bust crypto market manipulators. The firms are charged with "wash trading," artificially increasing trade volume to boost token prices. The case marks the first such charges against crypto firms, prosecutors say. The charges are the first in the crypto industry related to "wash trading." The sting charged ZM Quant, CLS Global, and MyTrade with wash trading related to their communications with NexFundAI.
Persons: , Jodi Cohen, cryptocurrency –, Joshua Levy Organizations: SEC, Service, Securities and Exchange Commission, FBI, CLS Global, NexFundAI, Boston, United Locations: Boston, Saitama
Wealthy millennials and Gen Z are redefining philanthropy
  + stars: | 2024-10-10 | by ( Robert Frank | ) www.cnbc.com   time to read: +3 min
Wealthy millennials and Gen Zers are redefining the world of charitable giving, seeing themselves more as activists than donors, according to a new study. Older donors give from of a sense of responsibility. Those over the age of 44 were more than twice as likely to give due to "obligation" than younger donors. Those under 43 were more likely to cite self-education and the influence of their social circle as drivers of their philanthropy. The younger wealthy are still building their fortunes and inheriting their wealth, so they're more likely to give their time and help fundraise.
Persons: Robert Frank, millennials, Zers, Gen Xers, Dianne Chipps Bailey, fundraise, Bailey, They're Organizations: Bank of America Private Bank
Some of the best deals we've come across are $100 off the Garmin Epix Pro, the top Garmin watch we've tested. These Prime Day Garmin watch deals are expected to last until the sale ends at midnight PT. View at Amazon What we like Check mark icon A check mark. Tracks a wide variety of activitiesCheck mark icon A check mark. Check out our roundup of all of the best Prime Day deals , or browse Amazon's website for the full selection.
Persons: Price Organizations: Business, Deal, Garmin, Apple Watch, Garmin Epix, Price Garmin, Amazon
Learn moreThe October Prime Day event is almost over, and there are only a few hours left to get the best Amazon Prime deals. Below, we've compiled the 100+ best Prime Day deals you can get right now. Tech and gaming Prime Day dealsWhether you're an Apple aficionado looking for a good deal or a gamer yearning for a PS5, Prime Day has you covered. View at AmazonFor more highlights of Prime Day sales on Amazon products, check out our roundups of the best Prime Day Fire TV Stick deals and best Prime Day Amazon Echo deals. You can find the top sales in our guides to the best women's Prime Day clothing and shoes, men's Prime Day clothing and shoes, and Prime Day coach bags.
Persons: we've, there's, Bose, Apple, We've, it's, shams, Dyson, OmniForce, Bissell, Ashley Caitbrook, Ashley, you've, recyclables, callouts, Dyson Airwrap, , Gabrielle Chase, , wardrobes, Tabby, clogs, Pullover Organizations: Business, Amazon Prime, Apple, Samsung, PlayStation, LG, Amazon, Apple AirPods, Amazon Bose, Amazon LG, Tech, Sony, Google, Slim, Air, MacBook, Amazon Apple, Amazon Samsung Galaxy Watch, Galaxy Watch, Garmin, Amazon Samsung, Galaxy, Alexa, Kindle, Casper, Pillow, Dyson, Upright, Bissell, AMD, futon, Amazon Philips, Chatelet Air, DELTA, Delta, Philips, Adidas Locations: Amazon, Keurigs
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