Charles Schwab reported record third quarter profits of $2.36% billion dollar riding that surge in retail investing. Revenue jumped 27% to 6.14% billion. That's also an all-time high.Schwab >> joining us right now for a look at what's ahead is Charles Schwab president and CEO Rick Worster. And Rick, thank you for coming into set to talk to us this morning. >> It's an honor to be here.Thanks for having me. >> You like when I do that. You said you >> I love when you do it because it's very hard to remember fi ...

Core Insights - Charles Schwab reported record third quarter profits of $2.36 billion, with revenue increasing by 27% to $6.14 billion, marking an all-time high for the company [1] - Total client assets rose by 17% year-over-year to a record $11.59 trillion [3] - The company experienced a significant increase in daily average trades, which were up 30% year-over-year [4] Client Engagement and Growth - Schwab added over one million new brokerage accounts for the fourth consecutive quarter, indicating strong client acquisition [4] - The company attributes its growth to delivering value to clients through a combination of digital services and personal support, including 7 million client calls in the last quarter [5][6] - A notable demographic shift is observed, with one-third of new households being Gen Zers under the age of 28, who seek engagement and guidance in their financial lives [10] Competitive Landscape - Schwab leads the retail trading market with 7.4 million daily average trades, significantly outpacing competitors like Robinhood and Morgan Stanley [7] - The company emphasizes its commitment to client service and the provision of a comprehensive trading experience, including live coaching and a robust trading platform [8][9] Market Trends and Client Behavior - Active traders are engaging in strategies such as buying dips and selling rips, while long-term investors are advised on diversification and market timing [13] - The concentration of the S&P 500 index is at a historical high, with the top 10 stocks comprising 38% of the index, prompting discussions on the importance of diversification [14] Investment Opportunities - Schwab is expanding its offerings to include crypto ETFs and private investments, responding to client interest in alternative assets [16][18] - The company reports a 90% increase in visits to its crypto site over the past year, indicating high engagement in this area [17] Credit and Economic Outlook - Schwab's banking operations are designed to lend only against client assets, mitigating credit risk, and the company has not experienced credit issues historically [20][21] - Current economic indicators suggest that there are no systemic credit issues, with low unemployment rates contributing to a stable outlook [22]

Core Viewpoint - Harmony Gold Mining Company Limited is positioning itself as a strong investment opportunity as gold prices rise, particularly following its acquisition of MAC Copper Limited to diversify into copper mining [1][3]. Group 1: Acquisition Details - Harmony Gold acquired MAC Copper Limited for approximately AU$1.08 billion, which represents a 20% premium over MAC's recent share price [1][2]. - The acquisition involves purchasing 100% of MAC Copper's issued share capital at AU$12.25 per share in cash [1]. Group 2: Strategic Importance - The principal asset of MAC Copper is the CSA Copper Mine in New South Wales, Australia, known for its high-grade copper production, yielding about 41,000 metric tons in 2024 [2]. - This acquisition marks a significant step in Harmony's strategy to diversify away from gold, as copper is increasingly essential for global electrification, renewable energy, and decarbonization efforts [3]. Group 3: Management Perspective - Harmony's CEO, Beyers Nel, emphasized that copper provides counter-cyclical diversification to the company's portfolio, acknowledging the cyclical nature of gold [3].

Core Insights - Diversification in the shipping industry is a common strategy, as demonstrated by Danaos (DAC) entering the dry bulk sector through direct vessel investments and a stake in Eagle Bulk [1] Group 1 - Danaos has expanded its operations by investing in dry bulk vessels, indicating a strategic move to diversify its portfolio [1] - The company has previously invested in Eagle Bulk, showcasing its commitment to growth in the shipping sector [1]

Core Insights - The cost of living crisis and inflation in Singapore have heightened the importance of dividends as a source of income for households [1][2] - The article examines four dividend-paying companies on the Singapore Exchange to assess their ability to provide sustainable dividends amid inflation [1] Group 1: CapitaLand Integrated Commercial Trust (CICT) - CICT, the largest retail and office REIT in Singapore, reported a 3.5% year-over-year increase in distribution per unit (DPU) to S$0.562 for 1H2025, with a portfolio occupancy rate of 96.3% [4] - The REIT's retail properties and Grade A office buildings provide stable rental income, supported by redevelopment plans for long-term growth [5] - Potential risks include rising interest rates affecting financing costs and the long-term impact of e-commerce on physical retail [5] Group 2: DBS Group - DBS Group has benefited from elevated interest rates, achieving distributions between 5% to 6% since 2022, with a quarterly dividend of S$0.60 and special dividends totaling S$3 per share for a yield of approximately 5.7% [7][8] - The bank's diversified revenue streams and strong capital position support its dividend capacity, although future earnings may be impacted as interest rates decline [7][8] - Management anticipates annual dividend increases of S$0.24, contingent on maintaining a return on equity of 15% to 17% [9] Group 3: OCBC - OCBC has shown steady earnings growth, driven by wealth management and insurance, and plans to return S$2.5 billion through special dividends and share buybacks, with a payout ratio near 60% [10] - Historical dividends have increased from S$0.82 in 2023 to S$1.01 per share in 2024, with an interim dividend of S$0.41 for 1H2025 [11] - The bank's earnings are sensitive to interest rate cycles and economic conditions in Greater China [11] Group 4: Parkway Life REIT - Parkway Life REIT generates stable revenues through long master lease agreements indexed to inflation, with a DPU yield of around 3.6% [12] - For 1H2025, the DPU was S$0.0765, reflecting a 1.5% increase from the previous year, supported by a solid financial position with a gearing ratio of 35.4% [13] - The REIT's revenue has grown at a compound annual growth rate (CAGR) of approximately 4.2% over the past decade, making it an attractive defensive investment [13] Group 5: Investment Strategy - Diversification is essential for offsetting inflation, combining dividend stocks with different drivers such as property markets, interest rates, and inflation indexation [14][15] - CICT offers exposure to the property market, while DBS and OCBC provide higher yields but are sensitive to interest rate changes [14] - Parkway Life REIT offers inflation protection through indexed leases, albeit at lower yields [14]

Core Insights - Apple is positioning the M5 chip as a platform that spans across multiple products, indicating a shift from introducing devices with chips to having a chip that supports various devices [2][3] - The new MacBook, particularly the 14-inch model, is aimed at premium users, focusing on enhanced performance and battery life, while also supporting AI architecture [4] - The iPhone 17 emphasizes battery life and camera capabilities, with the latter being a significant driver for consumer upgrades, especially in the Chinese market [6][9] Product Diversification - Apple is diversifying its product family beyond just the iPhone, with significant developments in the Mac, iPad, and Vision Pro, indicating a broader strategy for future growth [10][11] - The company is rumored to be securing F1 rights for the US, showcasing its intent to expand its services portfolio [10] - The diversification strategy is crucial for Apple, as it aims to align with market expectations and consumer needs [12] Market Presence - The iPhone 17 is well-positioned to meet the upgrade demands of consumers in China, which is a critical market for Apple [8][9] - Apple's historical relationship with China and its ability to respond to technical and design upgrades are seen as advantageous in navigating current geopolitical tensions [8]

Core Viewpoint - The market is currently experiencing a rally, with investors encouraged to stay invested despite ongoing US-China trade tensions and elevated valuations in the stock market [2][4][6]. Market Dynamics - The US-China trade relationship remains a critical factor for global tariffs and trade, with both countries relying on each other's resources [2]. - Recent market movements indicate a tendency to overlook trade tensions, as evidenced by a relief rally following a pullback [3][5]. Investment Strategy - Investors are advised to adopt a "buy the dip" strategy, as the market is close to record highs and opportunities may arise during pullbacks [5]. - Diversification is emphasized, with a focus on sectors such as aerospace, defense, and AI infrastructure spending [9][12]. Sector Insights - Companies like IEES Holdings and Comfort Systems are highlighted for their significant stock performance, with increases of nearly 97% and over 100% year-to-date, respectively [10][11]. - The utility sector is noted as a strong performer, providing stability and dividends amidst market volatility [14][15]. Earnings Outlook - Earnings growth is projected at approximately 8% year-over-year, marking the ninth consecutive quarter of growth, which is a positive indicator for the economy [23]. - The consumer sector is regaining strength, contributing significantly to GDP alongside AI infrastructure spending [24]. Federal Reserve Influence - Historical data suggests that after the Federal Reserve cuts interest rates, the market tends to rise, with an average increase of 8% over six months and 15% over the next year in cases where the economy does not enter a recession [7][8]. - The Fed's anticipated interest rate cuts are expected to support continued economic growth and market performance [28]. Risk Considerations - There are concerns about market complacency and the sustainability of current spending levels, suggesting a need for investors to reassess their portfolios and consider diversification [29][30].

Core Insights - The S&P 1500 index is heavily influenced by large technology companies, similar to the S&P 500, indicating a concentration of market power within the tech sector [1] - Small-cap stocks are currently experiencing a significant rally, suggesting potential for sustained growth and investment opportunities in this segment [1] Group 1 - The dominance of Big Tech in the S&P 1500 reflects broader market trends and investor sentiment towards large-cap technology firms [1] - The recent performance of small-cap stocks may indicate a shift in market dynamics, providing a contrasting investment avenue to large-cap stocks [1] - Analysts suggest that the rally in small-cap stocks could have substantial momentum, potentially leading to increased investor interest and capital inflow [1]

Core Insights - A record $1 trillion has been invested in US ETFs in 2025, indicating a significant shift from traditional mutual funds to ETFs [2][3] - The ETF industry is projected to reach $1.4 trillion by year-end, surpassing last year's record and solidifying ETFs as a dominant investment vehicle in the US [3] - Total US ETF assets reached $12.7 trillion by the end of September, with a 23% year-to-date growth rate and 41 consecutive months of net inflows [3] ETF Performance - Bond and gold ETFs have shown exceptional performance, with $39 billion in inflows for fixed-income ETFs last month and SPDR Gold Trust ETF attracting $15.97 billion as gold prices exceeded $4,100 per ounce [4] - The current market environment is characterized by a risk-on sentiment and persistent inflation, which are driving these inflows [4] Investor Behavior - BlackRock's iShares and Tidal Financial Group anticipate continued inflows into ETFs, as mutual fund outflows have reached $481 billion this year [5] - Investors are increasingly favoring ETFs for their cost efficiency, transparency, liquidity, and diversification, which are reshaping global investment behavior [5] Growth in Crypto ETFs - A parallel boom in crypto-linked funds and Asian ETF markets is expected, with significant growth anticipated in crypto ETFs over the next five years, potentially capturing 10-20% of all assets [7][8] - The cost-effectiveness of ETFs compared to traditional crypto services is highlighted, with exposure available for as low as 25 basis points [8]

Diversification spreads investments across assets, sectors, and regions—reducing risk and smoothing returns over time.Learn more: https://t.co/iKpj3Vcmam https://t.co/QfKsHlPfhc ...