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The Latest Breaking News from UBS

One out of every 15 Americans is a millionaire, UBS says

The U.S. has 22 million people worth at least $1 million, according to UBS, about the same as Western Europe and China combined.

Fortune

Where are the world’s millionaires and how is wealth divided globally?

Almost half of the world’s wealth, or $213 trillion, is held by just 1.5 percent of the global adult population.

Al Jazeera

Tesla's Energy Business Shines Amid Electric Vehicle Slowdown

Tesla's energy business thrives amidst EV sales slowdown, showing resilience and growth potential in sustainable energy solutions.

Top News

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Tesla Stock Dives As Analysts Weigh In After Earnings Miss. EV Giant Not A 'Trump Trade.'

Tesla got several price target cuts and a downgrade after its earnings miss. The EV giant is not a "Trump trade," an analyst noted.

Investors Business Daily

A new round of Trump tariffs on China would drastically slow its economy

Donald Trump has said he could impose a 60% tariff on Chinese imports if he returns to the White House.

Fortune

1 Gold ETF to Consider Ahead of the Fed's First Rate Cut

Gold remains a top investment option in 2024, given the yellow metal has historically outpaced inflation and created significant wealth for long-term investors.

Barchart

Is Andrew Forrest’s energy dream in peril? The future of green hydrogen in Australia explained

Fortescue announced 700 job cuts this week in a bid to remain ‘lean’. So what does it mean for green hydrogen?

The Guardian - AU

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Nvidia Stock Surges As TSMC Reports Strong AI Chip Demand Despite 'Damaging' Statement From Donald Trump

Nvidia's stock price jumped nearly 3 percent on Thursday. This bounce back comes after the industry's worst day since 2020.

International Business Times UK

Is Tesla Stock a Buy or Sell on Robotaxi Delay?

Down 39% from all-time highs, Tesla stock still trades at a premium to consensus price target estimates in July 2024.

Barchart

Tesla's AI dreams may ‘materialize on a longer time horizon (or not at all),’ UBS warns

“While TSLA is investing heavily in AI and the tech is making progress, investment is costly, pace of improvement may slow and the payoff is long dated,” UBS analyst Joseph Spak warned.

Fortune

Tesla Stock Gets Sell Rating After Snapping 11-Day Win Streak

UBS downgraded Tesla stock to a sell rating on Friday, giving a tempered view of the EV giant's AI growth opportunities.

Investors Business Daily

Millennials and Gen Z will inherit $83.5 trillion in the next two decades—but not before spouses of the wealthy obtain their $9 trillion

The report from UBS also had some good news for consumers. Not only is it easier to climb the wealth ladder than it is to fall back down it, but in the U.S., individuals across the income spectrum are set to get wealthier.

Fortune

Archegos speculator Bill Hwang could spend the rest of his life behind bars after his disastrous bets ushered in the demise of Credit Suisse

Federal jury finds Hwang lied to lenders over the size and scope of his bets on stocks like ViacomCBS in order to juice returns, causing $10 billion in combined losses.

Fortune

U.K. has 'far more millionaires than it deserves' as 500,000 to flee to Italy and Spain

The U.K. will lose 17% of its millionaires in the coming years, but the country's government shouldn't worry.

Fortune

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The Guardian - AU

AI datacentres to strain Australia’s energy supply, spike prices without change, expert says

UBS analyst says tech firms must ensure datacentres have ability to power up and down like aluminium smelters

Barchart

Stocks Finish Higher on Balanced Comments from Fed Chair Powell

The S&P 500 Index ($SPX ) (SPY ) Tuesday closed up +0.07%, the Dow Jones Industrials Index ($DOWI ) (DIA ) closed down -0.13%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed up +0.07%. Stock indexes settled mixed on Tuesday, with the S&P 500 and Nasdaq 100 posting...

Barchart

Chip Stock Strength Pushes the S&P 500 and Nasdaq 100 to Record Highs

The S&P 500 Index ($SPX ) (SPY ) today is up +0.22%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is down -0.27%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.28%. Stock indexes today are mixed, with the S&P 500 and Nasdaq 100 posting new...

Investors Business Daily

Nvidia AI Chip Demand Called 'Exceedingly Robust' After Channel Checks

Demand for Nvidia's next-generation AI processors and systems is "exceedingly robust," a Wall Street analyst said Monday.

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Investors Business Daily

Tech Leader Stock Pure Storage Slides After Downgrade. AI Getting 'Too Much Credit.'

Pure Storage stock fell Tuesday after UBS analyst David Vogt downgraded his view of the company to a sell rating.

Kiplinger

Boeing to Acquire Spirit AeroSystems: What to Know

Boeing will buy Spirit for $4.7 billion in stock as it looks to improve the safety and quality of its airplanes. Here's what you need to know.

Investors Business Daily

Analysts Cut Views On Sliding Nike Stock After Sales Miss, Soft Outlook

Nike stock tumbled early Friday amid analyst downgrades, price target cuts. The Dow retailer missed sales views for Q4

Barchart

3 Stocks Set to Rise if Trump Wins the 2024 Election

If Donald Trump wins the 2024 election, stocks like Cheniere Energy, General Motors, and Nucor Corporation could benefit from White House policies favoring deregulation, domestic manufacturing, and higher tariffs.

Fortune

Carnival shares rise as flood of demand for cruise bookings bolsters record quarterly results

The momentum is driven by record booking volumes for 2025 sailings, the cruise company announced on Tuesday.

Fortune

Slowing online sales can boost brick and mortar stores thanks to their singular advantage, say UBS analysts

The percentage of U.S. consumers buying online fell 3% year-over-year, according to a recent survey.

Barchart

Forget GameStop, Here's the Old-School Retail Stock Analysts Are Betting On

After its well-received earnings report, analysts at UBS upgraded Best Buy, predicting more upside ahead for the big-box retailer.

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