Author: arthursheikin@gmail.com

[ad_1] The US minted over half a million new millionaires in 2024, driven by strong equity markets and a favorable interest rate environment, according to Capgemini’s World Wealth Report 2025.The number of high-net-worth individuals (HNWIs) in the US rose by 7.6% last year, equivalent to about 562,000 people, while their collective wealth increased by 9.1%.That growth made the US the single largest contributor to global millionaire expansion, as the country’s stock market surged and economic growth exceeded expectations.”Even in an environment of low interest rates, geopolitical tensions, and trade policy uncertainty, the wealth management sector will continue to grow in…

[ad_1] This isn’t the NBA Finals many imagined, but the league sees opportunity nonetheless.The series will be a small-market showdown between the mighty Oklahoma City Thunder and the upstart Indiana Pacers. And betting markets have the Pacers at 5-to-1 odds to upset the Thunder, who won a staggering 68 regular-season games.That combination means TV ratings for these Finals may sag. Even some at the league office acknowledge that this year’s Finals ratings could take a hit without marquee teams.But NBA marketing chief Tammy Henault told Business Insider she wasn’t worried, and sees the series as an opportunity to showcase the…

[ad_1] (This is a wrap-up of the key money moving discussions on CNBC’s “Worldwide Exchange” exclusive for PRO subscribers. Worldwide Exchange airs at 5 a.m. ET each day.) Investors on Wednesday are looking at cybersecurity stocks as a way to play the next phase of the artificial intelligence trade. Plus, one investors breaks down his bond market forecast as hopes for Federal Reserve rate cuts in 2025 grow. Worldwide Exchange Pick: Cloudflare Sevasti Balafas, CEO Goalvest Advisory sees Cloudflare as a broader way to play the AI an tech trade. “A big part of the reason that we like them…

[ad_1] Here are the biggest calls on Wall Street on Wednesday: Goldman Sachs upgrades XP to buy from neutral Goldman says it sees “operating leverage” for the Brazilian investment company. “We are upgrading XP to Buy from Neutral with a $23 price target, as we see the company well positioned to benefit from operating leverage, with possible upside risks if revenue growth accelerates further.” UBS reiterates Netflix as buy UBS raised its price target on the stock citing strong viewership trends. “We believe secular trends and competitive dynamics remain supportive of Netflix’s ability to drive stronger monetization and operating leverage.…

[ad_1] Dollar General has emerged as one of Oppenheimer’s favorite defensive plays heading into a potential economic slowdown. The investment firm upgraded the discount retail chain to an outperform rating from perform. Analyst Rupesh Parikh also set a price target of $130, which points to a 15% advance from current levels. Parikh called Dollar General’s valuation “accommodative” with room for further multiple expansion on the horizon, despite the stock already being up 49% in 2025. DG YTD mountain DG YTD chart Shares of Dollar General surged 16% on Tuesday after the company beat first-quarter earnings and revenue expectations. The company…

[ad_1] Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The European Commission has finally given Bulgaria the green light to join the Eurozone in 2026, making it the 21st country to join the single currency bloc.“Today we have reached a crucial milestone on our path to join the euro, marked by years of continuous efforts and strict fiscal discipline,” Bulgaria’s Prime Minister Rosen Zhelyazkov told the Financial Times.“The introduction of the euro will improve economic stability and create stronger fundamentals for investments and economic growth,” he added.Brussels and the European…

[ad_1] Reuters  —  Hackers are tricking employees at companies in Europe and the Americas into installing a modified version of a Salesforce-related app, allowing the hackers to steal reams of data, gain access to other corporate cloud services and extort those companies, Google said on Wednesday. The hackers – tracked by the Google Threat Intelligence Group as UNC6040 – have “proven particularly effective at tricking employees” into installing a modified version of Salesforce’s Data Loader, a proprietary tool used to bulk import data into Salesforce environments, the researchers said. The hackers use voice calls to trick employees into visiting a…

[ad_1] UBS singled out Snowflake as a potential beneficiary of the artificial intelligence trend. The bank updated the cloud-based data storage company to buy from neutral. Analyst Karl Keirstead also raised his 12-month price target to $265 from $210, signaling upside of 27% from Tuesday’s close. Despite shares of Snowflake rallying 35% this year, Keirstead said “it’s not too late to get more constructive.” SNOW YTD mountain SNOW YTD chart “We’re becoming increasingly confident in the prospect that we’re just a few quarters into what could prove to be a multi-year enterprise investment cycle in the data layer, based on…

[ad_1] Music startup Sesh began with a question: How do we help artists connect with fans outside social media? While some musicians are natural influencers, others are bad at TikTok, or just don’t want to spend time there.”Artists are not content creators,” Sesh’s CEO Pepe del Río told Business Insider. “They create music and they like to perform.”At its core, Sesh is a platform for artists to stay in touch with fans and manage data about their audiences.When users sign up to follow an artist on Sesh, they provide information like their age, location, and email. In exchange, they get…

[ad_1] Apple’s valuation is starting to look expensive, and investors should steer clear, according to Needham. The investment firm downgraded the iPhone maker and “Magnificent Seven” stock to hold from buy. Analyst Laura Martin also removed her $225 price target, which implied upside of 10.7%. “We move to the sidelines for AAPL owing to its expensive relative valuation, increasing fundamental growth headwinds, and rising competitive threats,” she wrote. “We believe that, for AAPL shares to work, they must have the catalyst of an iPhone replacement cycle, which we do not foresee in the next 12 months. Until then, we believe…