JPMorgan Chase & Co. has been the best performing big bank stock since the Federal Reserve started hiking interest rates more than two years ago. But as the US central bank begins to unwind those moves, Morgan Stanley says it’s time for investors to wait before they buy more shares.
US stocks will outperform the nation’s government and corporate bonds for the rest of this year as the Federal Reserve keeps cutting interest rates, the latest Bloomberg Markets Live Pulse survey shows.
Just as the industrial revolution changed the way goods are manufactured and consumed, so the technological revolution will do for services. Once something can be made at scale, the market for it can expand and be segmented. The same goes for financial planning.
Gold is what you buy when everything isn’t goldilocks. Inflation, deflation, war, pestilence — gold is a certain anxious state of mind made tangible in a seductive but mostly useless metal. In a weird spin, gold has been enjoying a goldilocks period itself, hitting a new record last week. More that that, it seems almost immune to things that would usually drag it down.
Chief executive officers are no longer trying to be all things to all people.
Costco Wholesale Corp. posted higher-than-expected profit as moderating prices fueled consumer spending and store traffic climbed.
Rupert Murdoch has so far made it easy for Rightmove Plc to resist his takeover bid.
If on-field success is a measuring stick, Appaloosa Management co-founder David Tepper’s 2018 purchase of the Carolina Panthers has been a disaster.
Assets held by exchange-traded funds in the US hit $10 trillion for the first time as the investor-friendly products continue their relentless takeover of Wall Street.
On Tuesday, congressional leaders spent two hours taking to task Novo Nordisk Chief Executive Officer Lars Fruergaard Jørgensen over the high price of the company’s diabetes and obesity drugs, Ozempic and Wegovy. Now the question is whether those prices will change.
Since the beginning of the year, the OPEC+ countries that are subject to output caps have pumped together more than 600,000 barrels a day above their self-imposed limits.
So far, so good. The Federal Reserve’s efforts to engineer a soft landing for the economy are going well.
If investors had known in advance the size of the Federal Reserve’s latest interest-rate cut, would they have made big money on stocks and bonds trading on this market-moving intel?
A new exchange-traded fund attempting to carve out a slice of the $6.3 trillion sitting in traditional money-market funds is launching Wednesday.
At a finance conference in London this summer, four senior investment bankers set about persuading the room that the $1.7-trillion private credit market isn’t a threat to Wall Street. Barely three months later, two of them have jumped ship to seek their fortunes in the upstart asset class.
Vice President Kamala Harris’ recent proposal to ban price gouging in the grocery industry has raised tricky questions about the recent history of grocery prices, inflation and market power. Markups in grocery stores appear to be persistently higher than before the pandemic. But don’t rush to the conclusion that market power is the only explanation here.
That is much clearer and far more accurate. On Wednesday, Reuters first reported that the company is set to announce a restructuring under which its nonprofit board will lose control over the company’s core business.
Buyout heavyweights are increasingly resorting to the old-fashioned way of making money — actually running the companies they’ve bought.
Financial services companies are office hunting on one of New York City’s fanciest addresses, Park Avenue, and the biggest beneficiary may be a once-beleaguered real estate investment trust that happens to find itself in the right place at the right time.
Sam Altman has his hands in countless projects while also building “mankind’s last invention”: artificial general intelligence, or AI systems that surpass our own cognitive abilities. These galactic aspirations were reinforced on Monday when Altman published a dramatic blog post reminding us that superintelligence will bring prosperity for everyone. It’s just a “few thousand days” away, he added.
Financial services, like many institutions, are losing Americans’ trust. That’s a problem. Economies depend on a healthy financial system, as became painfully evident during the 2008 financial crisis, and that system operates largely on trust — confidence that people can access the money in their bank accounts, that their investment accounts are secure, and that their trades will be filled at quoted market prices, to name just a few everyday financial interactions.
America’s financial industry has long had trust issues. Never mind the Great Financial Crisis of 2007-08; mistrust of the markets dates back to at least 1929, if not the Dutch East India collapse of 1769. But this history has an upside: Financial institutions have a lot of experience creating systems to build, maintain and restore trust — and have learned lessons that can be applied across the economy.
A surprising trend has emerged when it comes to discussing inheritance. While very and ultra-high-net-worth clients often engage in these conversations, they tend to occur far less frequently with other segments.
Care about being a financial “doctor” and don't assume all is well because you have addressed the surface issue. Here are some ways to avoid delivering a poor bedside manner when clients need help.
With the advent of artificial intelligence (AI) in financial services, the pressure to move away from the AUM model is mounting. Has the time come for you to rethink your approach to compensation?
OpenAI has pitched the Biden administration on the need for massive data centers that could each use as much power as entire cities, framing the unprecedented expansion as necessary to develop more advanced artificial intelligence models and compete with China.
The global market for AI-related products is ballooning and will hit as much as $990 billion in 2027, as the technology’s quick adoption disrupts companies and economies, Bain & Co. said.
They say if there’s ever a Silicon Valley Mount Rushmore, the first face to be chiseled into the stone would be that of Gordon Moore. The Intel Corp. co-founder’s famous prediction about the rate at which semiconductors would improve has provided the bedrock to American technology leadership.
At risk of understatement, let’s call it a big deal. Microsoft Corp.’s agreement with Constellation Energy Corp. to reopen the Three Mile Island nuclear plant in Pennsylvania could prove highly consequential — for the green-energy transition and much else besides.
Retail investors have won the battle of fees. Brokerage accounts are free. Trading commissions are history. Anyone can own the entire stock market through a single exchange-traded fund for basically nothing. It’s a huge win for investors and terrible for the investment industry.
In today’s fast-paced digital world, where cyber threats are always lurking, safeguarding your personal and professional information is no longer optional – it’s essential. One often-overlooked strategy in the realm of cybersecurity is the simple yet effective practice of using multiple email accounts.
The truth is, relationship-building and trust-building are mutually exclusive, like two parallel planes that don’t intersect.
If you select appropriate colors that are most appealing to your target market, you’ll have an influential edge over your uninformed competitors.
Investors poured money into exchange-traded funds that buy emerging-market bonds last week as optimism around the Federal Reserve’s easing cycle fueled risk appetite.
US stocks can soar to fresh highs thanks to the Federal Reserve’s aggressive half-point interest rate cut last week, but it also could cause inflation to resurface if central bankers don’t tread carefully, according to Wall Street strategist Ed Yardeni.
A handful of Federal Reserve officials on Monday left open the door to additional large interest-rate cuts, noting that current rates still weigh heavily on the US economy.
Gary Gensler, chief US securities regulator, enlisted Scarlett Johansson and Joaquin Phoenix’s movie “Her” last week to help explain his worries about the risks of artificial intelligence in finance. Money managers and banks are rushing to adopt a handful of generative AI tools and the failure of one of them could cause mayhem, just like the AI companion played by Johansson left Phoenix’s character and many others heartbroken.
MassMutual Head of Annuity Distribution Matt DiGangi recently sat down with VettaFi to discuss the increasing demand he is seeing for annuities, and how MassMutual has sought to meet client investor needs.
Cliff Asness, co-founder of AQR Capital Management, made the news recently with the provocative claim that financial markets are getting less efficient. I worked at AQR for 10 years, but long before that I spent nearly two decades as the only mentee the renowned economist Fischer Black ever had. Fischer had a very different view of market efficiency and would, I think, have reached a different conclusion from Cliff’s data.
What is your personal financial code of conduct? Whether you’re consciously aware of it or not, chances are you have an internal set of standards and taboos that guide the way you handle money.
While the stock market rallied after the long-awaited Federal Reserve rate cut last week, there’s a sense of unease accompanying the gains.
Federal Reserve Bank of Atlanta President Raphael Bostic said starting the central bank’s cutting cycle with a large move will help bring interest rates closer to neutral levels as the risks between inflation and employment become more balanced.
The Federal Reserve’s interest rate cut last week has led many to wonder what it means for mortgage rates. The housing website Redfin noted that some would-be homebuyers aren’t aware that we’ve already seen a steep decline, while others are waiting for mortgage rates to fall more.
A popular rebuttal of the idea that the US ought to worry about its surging public debt is, “What about Japan?” America’s taxpayers are currently on the hook for 123% of gross domestic product, exceeding the previous record of 118% in the aftermath of the second world war, and the number is going up.
There’s opportunism — and there’s Qualcomm Inc.’s approach to buy Intel Corp. The acquisitive semiconductor giant has an opening to attempt such a momentous deal thanks to the yawning gap between their market capitalizations. The snag is that many obstacles remain to a successful transaction.
Not surprisingly, Donald Trump and Kamala Harris are floating opposite approaches to modifying the corporate tax code. If enacted, both proposals would significantly impact corporate profits and, thus, share prices. Currently, the plans are only campaign promises
The ERISA Advisory Council is conducting hearings on Qualified Default Investment Alternatives (QDIAs), seeking recommendations for improvements. The big challenge is making better decisions for people who do not want to engage.
Today, I’m going to share stories about my best and worst investment decisions. Don’t worry, this isn’t just a brag-and-cringe session about making or losing money. These stories are about the valuable lessons learned, and how these adventures in investing helped shape my current approach.
Former Treasury Secretary Lawrence Summers said inflation will probably prevent the Federal Reserve from lowering interest rates as much as expected in coming years.
Jay Powell: Federal Reserve Chair, soft-landing pilot … car dealer extraordinaire?
