For most of this year, investors have flocked into small caps to diversify away from the concentrated AI trade. Rising interest rates are threatening to put a damper on that.
Novo Nordisk A/S is eyeing the hair-loss market as the maker of Ozempic seeks to expand its direct-to-consumer pharmaceuticals business.
Family offices now see inflation as their No. 1 worry, underscoring how rising costs of goods and services are vexing even the richest investors.
Confused by the Singularity and the impending AI apocalypse? Theoretical physicist turned science writer Adam Becker is here to help with “More Everything Forever: AI Overlords, Space Empires, and Silicon Valley’s Crusade to Control the Fate of Humanity,” a jaundiced tour d’horizon of the peculiar end-times stories that IT visionaries — particularly the richest and most powerful ones — tell themselves.
The combination of prior Fed inaction followed by relatively significant market tightening raises a question: If long-maturity yields were already weighing on economic activity, did the bond market already do the Fed’s job?
Bitcoin surged near $85,000 to its highest since late-January, extending a sharp rebound as falling oil prices and a broader return of risk appetite helped cryptocurrencies move past setbacks on US crypto legislation and monetary policy.
Investors in the US Treasury market are shifting their focus to owning shorter-dated government bonds, a bet that the Federal Reserve will eventually emerge victorious in its fight against inflation.
Like it or not, we are all betting on AI taking over the economy. In the last 40 years, the US has become a nation of stock investors. On the whole, it has made Americans rich. Now the stock market is soaring on the hopes that AI will make everyone more productive — and if that doesn’t work out, we all may learn the definition of a bad tail risk.
US and Chinese officials offered upbeat assessments of their talks on artificial intelligence, trade and investment, signaling a mutual desire to steady ties ahead of this week’s summit between leaders Donald Trump and Xi Jinping.
Better clarity about the Federal Reserve’s resolve to fight inflation is giving investors reason to be bullish, and yet risks associated with oil prices and artificial intelligence keep them from fully committing.
Traditional performance attribution shows which active exposures added value to a portfolio and which detracted value. But for ESG mandates, it can lead to a misleading interpretation because it doesn’t explain why certain exposures exist.
Gold rallied alongside Treasuries as a slump in oil prices helped ease concerns about inflation, following the Federal Reserve’s first interest-rate hike since 2023.
After years of trying to convince developers and investors that it’s a viable alternative to Miami and Palm Beach, Fort Lauderdale’s pitch is starting to resonate.
A spinout from the family office for the billionaire owners of US construction giant Michels Corp. is expanding its public equities strategy with a fund focused on US infrastructure.
Berkshire Hathaway Inc. founder Warren Buffett is stepping down as the company’s chairman to be replaced by his son Howard, effectively ending roughly six decades at the helm of the conglomerate.
The Commodity Futures Trading Commission is delivering on its promise to swiftly move forward with crypto rules after a landmark digital asset bill failed to advance in the Senate this week.
Federal Reserve Chairman Kevin Warsh had ground to make up on Wednesday — and, for the most part, did what was necessary.
Much about the global AI panic — could it really “kill us all by the end of the decade”? — is genuinely new, and thus extra-scary. Then again, the specter of human-engineered extinction is hardly novel; we have about eight decades of experience in thinking about it.
Gold clawed back some losses alongside Treasuries as markets stabilized following the Federal Reserve’s first interest-rate hike since 2023.
Huawei Technologies Co. is accelerating the debut of its next-generation AI chip in 2027 by several months as it aims to replace Nvidia Corp. in China and compete on the global stage.
Investors should continue to treat bonds with caution even as the selloff bolsters the case for holding them in multi-asset portfolios, according to strategists at Goldman Sachs Group Inc.
What does Tina Turner have in common with a US Treasury bond? They both show that the meaning of safety is not always straightforward.
Federal Reserve Chair Kevin Warsh on Wednesday presided over the first US interest rate increase since 2023, and rate hikes are generally a package deal, as the aphorism goes.
Clients value advisors who are knowledgeable about philanthropy as well as those who collaborate with philanthropic specialists when deeper expertise is needed. Advisors who coordinate deliberately with specialists, rather than working around them, are best positioned to meet those expectations.
With mass AI adoption across nearly every industry, a new challenge is emerging: When everyone has access to the same technology, everything starts to look and sound the same. Once you stop standing out and creating genuine connections with prospects, you face a big marketing problem.
In my years working with advisors, teams, and firms, I’ve had to confront the topic of compensation many times. It’s hard to grow when you don’t have the right incentives in place to encourage people to focus on actually doing it and hard to team effectively when people may think they are being treated unfairly.
US retail sales rose by the most in five months in a broad advance, showing consumers continued to spend despite rising gasoline prices.
One fear over the past few days is that an artificial-intelligence slowdown, whatever that looks like, might harm the stocks of chipmakers. If AI development takes a breather, the insatiable appetite that has propelled component makers to unprecedented heights would dissipate. Will AI companies still need all those data centers?
Every single sector in the S&P 500 is expected to deliver earnings growth for the third quarter, the first time since 2021, when corporate America emerged from the pandemic slump, Bloomberg Intelligence data shows.
Ed Yardeni, one of the biggest stock bulls on Wall Street, is slashing his year-end forecast for the S&P 500 Index a month after raising it, citing increasing risks of a downturn in the next three to six months.
Morgan Stanley’s investment manager secured $1.3 billion in capital commitments for a growth equity fund that’s already invested in startups including Databricks, Anduril Industries Inc. and Ramp.
In what is a good sign, many discussions around automation generally and AI specifically are increasingly moving to questions about compliance and liability. Basically, people are asking whether the agentic coworker they just hired is smart enough to trust.
I’ve written before about why the federal debt may be less dire than the headlines suggest, and I still think much of that argument holds. You cannot know whether a national crisis is coming. You can, however, assess the risk of a crisis for your own budget and take action to reduce that risk.
Anthropic PBC is pitching financial advisers on a version of Claude that blends the chatbot with financial analytics and risk management technology run by BlackRock Inc., Vanguard Group Inc. and other firms.
An essay from Anthropic PBC’s Dario Amodei saying artificial intelligence companies must “pace the frontier” has got the world talking about a slowdown in their most cutting-edge research. OpenAI’s Sam Altman and SpaceX’s Elon Musk publicly agreed with the post.
Treasury yields are closing in on an inflection point where, historically, stocks and bonds have reinforced losses in one another. That points to a regime shift of higher bond and stock volatility and wider credit spreads.
Kevin Warsh has rightly called into question the effectiveness of the Federal Reserve’s communications — but his arrival as chairman only seems to have made the problem worse. To put this right after the next Fed meeting this week, he’ll need to rethink his approach to explaining where things stand.
The future of retirement planning is not a new model replacing an old one, but a more holistic approach that blends rigorous analytics with important client input. Advisors who adopt this integrated model will find that it deepens client conversations, clarifies tradeoffs, improves long-term decision-making.
The latest inflation report points to a hard truth: The US is not going back to a 2% inflation rate anytime soon. At least not easily.
Periods like this can feel especially tense, with higher stakes and more urgent headlines. Yet over time, markets have shown they are forward-looking and resilient, absorbing uncertainty rather than freezing in it. While today’s geopolitical backdrop may feel unsettling, it fits a long history of disruptions that markets have ultimately navigated.
As I go through the strengths and weaknesses of each model, my goals are to point out where the models are strong and to point out potential weaknesses such as conflicts of interest, which are important to be aware of in working with clients. Although we are all fiduciaries, financial incentives matter because we are all human. I know great advisors across all fee models.
Heading into the September 16 FOMC meeting, the debate over whether the Fed should raise rates or hold is heated. To help you appreciate the range of views, I present this article as a courtroom exercise. I will let the prosecution make its case for a rate hike, and the defense for a hold.
ETF share classes represent a structural innovation that combines the benefits of mutual funds and exchange-traded funds (ETFs) within a single pooled portfolio. This evolution expands investor choice, offering both ETF and mutual fund shares under a unified investment strategy.
Market madness has never been hard to diagnose. It’s almost two centuries since Charles Mackay published Extraordinary Popular Delusions and the Madness of Crowds. Benjamin Graham pioneered value investing in the 1930s by inviting everyone to think of “Mr. Market” as a manic-depressive who makes mistakes that can be exploited.
America’s data center boom will need $110 billion to build 45 gigawatts of new power generation through 2030, according to an analysis by Moody’s Ratings.
The list of challenges confronting Wall Street piled up this week. Oil firmly above $100. Inflation refusing to disappear. A defiant bond market that all but dared Scott Bessent to bring more policy firepower.
China criticized warnings from leading US technology executives to put the brakes on artificial intelligence development and claims that Chinese progress posed a dire security threat to the world.
The bond selloff has driven a key Treasury yield to the verge of 5%, worsening angst from Wall Street to Washington about higher borrowing costs hitting the US economy.
US convertible bond sales have reached their highest annual total on record, according to data compiled by Bloomberg, as companies look to fund heavy artificial intelligence-related spending.
Wall Street has a rule for how equity bull markets end: the economy rolls over or the Fed tightens until something breaks. Neither is in place right now, but rate risk is creeping back.
