Month: September 2024
The Fed won’t save stocks, sell the first rate cut, says Stifel
Think rate cuts will save the bull market? Think again, according to Stifel. “Fed cuts are a red herring,” Stifel strategists said in a note to clients. “We have our doubts about the currently widespread belief that ‘Fed Cuts = Buy Stocks.’” Markets are expecting the central bank to lower benchmark rates by at least […]
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Family offices are about to surpass hedge funds, with $5.4 trillion in assets by 2030
Colleagues working together in the office. Aja Koska | E+ | Getty Images A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. Family offices are expected to add more than $2 trillion […]
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Healthy Returns: Eli Lilly could soon become the first $1 trillion health-care stock
A sign with the company logo outside the headquarters of Eli Lilly and Company in Indianapolis, Indiana, March 17, 2024. Scott Olson | Getty Images A version of this article first appeared in CNBC’s Healthy Returns newsletter, which brings the latest health-care news straight to your inbox. Subscribe here to receive future editions. Earlier this […]
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Thoma Bravo founder vows to ‘never touch’ crypto again after disastrous bet on FTX
A little over three years ago, private equity investor Orlando Bravo called FTX the “most cutting-edge, sophisticated cryptocurrency exchange in the world,” as his buyout firm helped lead a $900 million investment in the company at a valuation of $18 billion. Bravo now tells CNBC that he and his firm, Thoma Bravo, are permanently out […]
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With Musk’s X banned in Brazil, its users carve out new digital homes
A man hangs flags with a portrait of tech tycoon Elon Musk during a demonstration called by former Brazilian President Jair Bolsonaro at Copacabana Beach in Rio de Janeiro, Brazil, on April 21, 2024. Mauro Pimentel | AFP | Getty Images As billionaire Elon Musk’s clash with a Brazilian Supreme Court justice came to a […]
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Friday’s jobs report for August is going to be huge. Here’s what to expect
Andreypopov | Istock | Getty Images Wall Street is gearing up for one of the most important economic releases of the year Friday, when the Labor Department puts out a jobs report expected to go a long way in determining the future of Federal Reserve policy. The Wall Street consensus is for nonfarm payrolls growth […]
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JPMorgan top economist says the Fed should cut rates by a half point this month
Key Points JPMorgan’s top economist Michael Feroli believes the Federal Reserve should cut interest rates by a half point this month. Traders are pricing in a 39% chance that the Fed’s target range for the federal funds rate will be lowered by a half percentage point, per the CME FedWatch Tool. Feroli’s remarks come as […]
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How high earners can funnel money to a Roth IRA, the ‘gold standard’ of retirement accounts
Key Points Investors with high incomes may not be able to contribute to a Roth or make deductible contributions to a traditional individual retirement account. However, a strategy called the “backdoor Roth IRA” lets high earners access Roth accounts. Investors would make a nondeductible contribution to a traditional IRA, and then convert those funds to […]
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Trump adopts Elon Musk plan for government reform, lays out economic blueprint ahead of Harris debate
President Trump speaks at the Economic Club of New York on November 12, 2019. Adam Jeffery | CNBC NEW YORK — Former President Donald Trump on Thursday unveiled a new batch of economic policy proposals that include Tesla CEO Elon Musk’s idea of creating a government efficiency commission to eliminate wasteful federal spending, a shot […]
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Stocks making the biggest moves midday: JetBlue, Hewlett Packard Enterprise, Tesla, G-III Apparel and more
Check out the companies making headlines in midday trading. JetBlue Airways — The New York-based airline popped more than 8% after hiking its forward guidance for third-quarter revenue. JetBlue now expects revenue to be in a range of down 2.5% to up 1% compared to the same period a year ago. Previously, a loss between […]
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