President Joe Biden, as you’ve no doubt heard, has had a rough few weeks. Yet on Tuesday, he signed a bill into law that could well prove transformative for America’s energy future. Here’s hoping — whatever happens in November’s election — that more progress lies ahead.
Thursday’s wildly encouraging consumer price index report shows that the Federal Reserve should be cutting policy rates at its meeting later this month. Unfortunately, they’ll probably keep us waiting until September.
The boom in portfolio trading is starting to creep into the market for state and local government debt.
As Pete Stavros addressed the private equity industry’s yearly shindig in Berlin last month, the KKR & Co. executive’s words were slightly less headline grabbing than those of Apollo Global Management’s co-president Scott Kleinman. But they were just as troubling.
Bond investors who’ve been positioning for a rally in the Treasury market are now looking for an endorsement from Thursday’s US inflation data.
Investors are growing increasingly concerned that US technology megacaps are spending too much on artificial intelligence, according Goldman Sachs Group Inc. strategists.
Bain Capital and Reverence Capital Partners have agreed a deal to take Envestnet Inc., a provider of wealth-management software, private.
One after another, the money-making trading formulas for China’s quantitative hedge funds are disappearing.
European stocks edged higher, extending gains into a second day, ahead of a key US inflation print that’s expected to show price pressures continuing to ease.
By some metrics, the US financial system is in great shape. All 31 banks that underwent the Federal Reserve’s stress tests this year maintained adequate capital even in a “severe” economic scenario.
Investors attach a $2.3 trillion valuation to Alphabet Inc. for its status as an internet search behemoth and AI innovator. Yet even that massive figure underplays YouTube’s true worth, according to analysts at Needham & Co.
Life has been getting busier for investment bankers, but dealmakers aren’t cashing any checks yet. A stream of big-ticket merger and acquisition announcements this year bodes well for future revenue and bonuses, but no one gets paid until deals are completed. And that might not happen until late 2024 or even next year.
Piper Sandler & Co. is eliminating its price target for the S&P 500 Index. Its Wall Street counterparts should follow suit.
Tracking down those in the technology industry cautious about artificial intelligence is much like looking for Republicans in San Francisco: There’s plenty of them out there, if you’d care to ask. And lately, they seem to be growing in number.
Microsoft Corp. and Apple Inc. dropped plans to take board roles at OpenAI in a surprise decision that underscores growing regulatory scrutiny of Big Tech’s influence over artificial intelligence.
Trust is a precious commodity and the importance of authenticity cannot be overstated. Whether in healthcare, education, or business, being genuine and transparent is essential for building strong, lasting relationships. However, nowhere is this truer than in the financial advisory industry.
I love questions like this one – the chance to think creatively and brainstorm “what could be” without the stress of having to do something right now. I have some suggestions to start thinking about what you could do when you have more latitude and less financial responsibility.
AI and automation will revolutionize the financial advisory industry. These technologies enhance efficiency, improve client communication, and enable data-driven decision-making. By 2035, AI will be integral to most advisory firms.
As RIAs and broker-dealers consider how to allocate future spending, they would be wise to recognize how technology designed to support fee-for-service financial planning can help them meet their most immediate goals while also allowing them to grow and nurture next-generation wealth management clients.
Implementing the net wealth mindset in practice involves developing detailed financial plans that align with each client's needs and priorities, and crafting a client-centered service model.
Traditional selling has always been about persuasion and creating forward momentum in the sales conversation. Ironically, although your prospects have specific agendas, they won’t allow you into their world if they sense you’re operating with one.
Traders should brace for a significant pullback in the stock market as uncertainty swirls around the US presidential campaign, corporate earnings and Federal Reserve policy, according to Morgan Stanley’s Mike Wilson.
Struggling under the weight of interest rates, highly-levered assets within private equity and real estate are promising distressed investors some of the best opportunities in more than a decade, according to Howard Marks, co-chairman and co-founder of Oaktree Capital Management.
If the companies that derive revenue from products and services that help reduce carbon emissions were taken as a single industry group, they would have had the second-best financial performance of any equity sector over the past decade.
The world’s largest technology stocks drove a banner first half for the S&P 500. The question for the rest of the year is whether their strength continues.
America’s housing crisis is often portrayed as a matter of supply. Depending on whom you ask, the shortfall is anywhere from 1.5 million to 7 million homes. Much of the policy debate focuses on how to close that gap.
Markets today pose a new existential question: Can there be a bubble in something if it has no price?
Despite the Fed’s “significant progress” in lowering inflation, most citizens are outraged and confused by economists’ relatively rosy inflation observations. Most citizens believe inflation is still rampant.
Large-cap U.S. stocks, as measured by the S&P 500, have dominated in both absolute and risk-adjusted terms. They are soaring. It’s the Roaring ’20s again!
Those wishing to explore the gap between the nation’s apparent macroeconomic success and its microeconomic malaise would do well to consult Ruchir Sharma’s What Went Wrong with Capitalism.
The oil company declared its traditional business was all but over. “The demand for fossil oil products will continue to decline,” it said in late 2020 as the pandemic slashed consumption. Even when Covid-19 is over, consumption wouldn’t “recover to previous levels.”
Taiwan Semiconductor Manufacturing Co. rose to a record intraday high in Taipei after Morgan Stanley joined a list of brokers boosting price targets on the chipmaker before its earnings.
The bond trade that some of Wall Street’s biggest banks say will dominate the rest of 2024 is gaining steam before a crucial inflation reading that will help seal the wager’s fate.
Jerome Powell will face pressure this week from lawmakers growing impatient for the Federal Reserve to cut interest rates and others who are unhappy with its latest plan to boost capital requirements for Wall Street lenders.
Hedge funds piled into short bets against Tesla Inc. right before the electric vehicle maker unveiled a set of numbers that triggered a hefty share-price rally.
The Canadian labor market unexpectedly lost jobs for the second time in four months, keeping the central bank on track to further cut rates this year.
Last week, the Supreme Court overturned a decades-old legal doctrine that gave federal regulators the power to interpret unclear laws. This touched off a lot of wild rhetoric about the end of the administrative state.
Worried that inflation is coming down too gradually? The Romans had a not-so-subtle solution: Anyone suspected of ratcheting up prices faced execution. If you’re currently anxious about declining fertility across today’s major economies, they had an answer for that, too: Celibacy was discouraged among women, Vestal Virgins excluded. Offenders might forfeit their inheritance.
On the surface, the US employment report for June looked pretty good. Some 206,000 jobs were added, which exceeded the 190,000 median estimate of more than five dozen economists surveyed by Bloomberg. Also, wage growth continued to moderate, easing concern that fast-rising earnings would underpin inflation.
New British Prime Minister Keir Starmer promised a government of “stability and moderation” after leading his Labour Party to a landslide election victory that ended 14 years of Conservative rule that became characterized by turmoil and infighting.
Between McDonald’s $5 value meal, Taco Bell’s $7 cravings box and budget breakfasts from Starbucks and Wendy’s Co., fast food chains are fighting hard to win over hungry Americans this summer. Why now? It comes down to price-sensitive customers voting with their wallets and forcing companies to chase traffic to grow revenue and profits.
MegazoneCloud Corp. has selected firms including a unit of JPMorgan Chase & Co. to help it kickstart an initial public offering that could value one of Asia’s biggest cloud and AI services companies at several billion dollars.
Tesla Inc. shares are set to extend gains for an eighth consecutive session on Friday, putting the stock of the world’s most valuable automaker on track to turn positive for the year.
US Treasuries gained, pushing yields lower, after a mixed report on the US labor market left traders holding tight to bets that Federal Reserve officials will lower interest rates this year.
In trying to block China’s climb up the ladder of technological sophistication, the US may inadvertently be giving its rival a hand up.
US hiring and wage growth stepped down in June while the jobless rate rose to the highest since late 2021, bolstering prospects that the Federal Reserve will begin cutting interest rates in coming months.
Ever since Rishi Sunak’s rain-sodden announcement to call a general election on July 4, one question has hung over British politics: Will Labour win by a landslide or just a regular majority?
A US-led effort to gradually disconnect trade ties with China, rising costs, and a broader understanding of the need to diversify production is driving manufacturers to invest in alternative locations.
Gold headed for a back-to-back weekly gain on expectations that the Federal Reserve will trim interest rates before year-end, with traders looking ahead to US payrolls data for the next batch of clues on the outlook.
Federal Reserve Bank of New York President John Williams said that while inflation has cooled recently toward the Fed’s 2% target, policymakers are still some distance from their goal.
