Category: 3. Business

The mounting problems facing poorer Americans are leaving the world’s most important economy exposed to risks of a downturn, a top Federal Reserve official has warned, highlighting the “balancing act” facing central bankers as they consider whether to cut interest rates again in December.

John Williams, president of the New York Fed, said data and conversations with community leaders highlighted that many poorer households were facing an affordability crisis.

“There is quite a bit of evidence . . . that lower and moderate-income households are facing some constraints from an affordability point of view,” Williams told the Financial Times. “From the cost of living, the housing costs and basically many families living month to month.”

Meanwhile, wealthier Americans were benefiting from the stock market “booming near all-time highs”.

With the US jobs market cooling, Williams signalled that what he dubbed the “disaggregated” behaviour of US households could be a factor in determining whether or not he thinks the Fed should cut borrowing costs in December — a vote he described as a “balancing act”.

While US growth overall had proven much more resilient than many economists had anticipated and inflation remained above the Fed’s 2 per cent goal, the pain felt by more vulnerable households because of the high cost of living meant the US economy could be knocked off course.

“Something could happen that cuts into confidence, or consumer spending growth that we’re seeing at the aggregate level may not be as robust, if you will, as it would be otherwise, given that a lot of folks are really, again, living month to month,” said Williams, who is also vice-chair of the rate-setting Federal Open Market Committee.

Fed officials — including chair Jay Powell and influential governor Christopher Waller — have started to focus more on how a labour market which Williams described as lacking “a lot of strength and momentum” could affect the economic prospects of normal Americans.

Powell and Waller have noted strong consumer spending is being disproportionately driven by the highest earners.

The pain felt by poorer and middle-income American households is also affecting the political climate, propelling Zohran Mamdani to victory in the race for New York mayor, where he ran on a platform of lowering living costs.

The poor showing of candidates backed by US President Donald Trump in the city’s mayoral race and votes for the governorships of Virginia and New Jersey has also been linked to a crisis in affordability similar to that which plagued Joe Biden’s presidency.

The Fed has cut borrowing costs by a quarter-point at each of its past two policy votes because of evidence the US labour market was weakening.

Investors expected another move next month — up until late October when Powell said further cuts were far from a “foregone conclusion”.

“It’s really a balancing act,” the New York Fed president said in reference to the December vote. “These facts are fundamentally true — inflation is high, and it’s not showing signs of coming down right now. And at the same time, the economy is showing some resilience.”

While the US labour market was still “gradually cooling”, it was “not shifting more dramatically”. Unlike earlier in the year, “no one’s really talking about recession”, he said.

The US economy has performed better than many, including Williams, had feared. In April, he said Trump’s tariffs could drive inflation up as high as 4 per cent — and growth to “somewhat below 1 per cent”.

Much of the rebound in confidence has been down to gloom over trade tensions being replaced by optimism over a boom in artificial intelligence and AI-related investment.

Williams said projections that AI could substantially lift productivity growth were not “outlandish”, but reserved judgment on just how much impact he expected the technology to have.

While AI-related investments have spurred growth, soaring equity prices have sparked some concerns of a bubble.

“Is there going to be excessive investment? Are there going to be investments that company X succeeds or company Y doesn’t? Yes. But I think it’s happening because there’s something real going on, something fundamental going on,” he said. “And it doesn’t worry me, as long as it’s not highly leveraged, and a lot of it’s equity financed.”

At its October meeting, the Fed called time on its three-year quantitative tightening experiment — a policy which shrunk the central bank’s balance sheet by about $2tn — amid signs of funding strains in money markets.

Williams acknowledged funding pressures in the “past few weeks are definitely sending us pretty clear signals that the level of reserves have come down”.

However, he pushed back against some market calls to end QT ahead of the December 1 target set by the FOMC last week, saying allowing it to run through November “makes perfect sense”.

He also opposed Dallas Fed president Lorie Logan’s calls for the central bank to shift its benchmark interest rate from the federal funds target range to a rate more reflective of borrowing costs in repo markets.

“I’ve been on the FOMC a while now, so we’ve discussed this at length, I think, a few times, and we looked at it very carefully and thought about it carefully, and each time we have decided to stay with the federal funds rate as the policy rate,” he said.

The New York Fed president did not subscribe to Powell’s view that a lack of official economic data — the result of the continuing government shutdown — would make a cut less likely.

“We will get more information regardless of the state of the government shutdown,” Williams said. “We have developed over, I would say, over 100 years, a remarkable set of indicators and measures of this state of the US economy.”

Unlock the Editor’s Digest for free

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.

An increasing number of wealthy Chinese people are trying to set up family offices and secure residency in the Gulf, a reflection of growing frustration with the increased difficulty of establishing themselves in Singapore, long a popular destination for rich Asians.

In the past year, there has been a rise in enquiries from Chinese nationals eager to relocate to Dubai and Abu Dhabi, according to private bankers and advisers to the ultra rich. Setting up family offices can ease the process of securing citizenship or residency.

“They are attracted [to the Gulf] by the ability to get residency status and live and enjoy stability,” said Mike Tan, Standard Chartered’s Singapore-based global head of wealth planning and family advisory, of those enquiring about setting up family offices in the Gulf.

Tan said the number of enquiries about Dubai that Standard Chartered had received from east Asian clients had surged in the past year, though the bank declined to provide numbers.

The UAE golden visa, which offers residency for 10 years and is available to investors, some family members and some high skilled workers, “is very attractive, and it is stable and benign from a tax perspective,” he said. Authorities in the United Arab Emirates said they issued nearly 80,000 golden visas in 2022 in a sharp increase from 47,000 the previous year, the latest figures to be made publicly available.

The number of family-related entities in Dubai’s offshore financial centre hit 1,000 at the end of the first half of this year, according to official figures, compared with 800 at the end of last year and 600 at the end of 2023. There is no breakdown on origin, but advisers say that much of the rise can be attributed to Chinese individuals.

Such is the influx of wealthy customers to the Gulf, said Prashant Tandon, managing director of wealth manager Lighthouse Canton’s UAE business, that there is a shortage of financial professionals who speak Chinese.

Tandon said he had seen the greatest movement towards the United Arab Emirates among those with assets of $50mn-200mn — “the mid-segment” of high net worth individuals — who are “a lot more entrepreneurial” and may be feeling business pressures in mainland China or Hong Kong. 

“A lot of families have sold Singaporean real estate to reinvest in the UAE,” said Yann Mrazek, managing partner at M/HQ, which assists with setting up structures for fund managers and family offices in Dubai and Abu Dhabi. Harsh Covid lockdowns in places such as China and Singapore had first triggered the interest in Gulf hubs, he said.

“Singapore has very restrictive immigration rules — they want to ensure the right people come in,” said an adviser to wealthy families in the city-state. “It is relatively easy to set up a family office and get employment passes, but much harder to get residency and citizenship.”

But while Dubai’s family office market is growing fast, it has years of catching up to do with Singapore.

Government incentives prompted many wealthy foreigners to consider setting up family offices in Singapore in recent years as part of a pathway to becoming permanent residents. The number of family offices in Singapore rose by 43 per cent last year to more than 2,000.

“For a while, people were setting up family offices as a status symbol in Singapore — if your friend had one, you should have one too,” said Kevin Teng, chief executive of wealth manager Wrise Private Singapore. “But it meant a lot of these entities weren’t doing very much.”

Singapore granted an average of 33,000 permanent residencies and 21,300 citizenships a year over the past five years, according to the Immigration & Checkpoints Authority, which does not disclose the number of applicants. Immigration consultants report the approval rate can be as low as 8.25 per cent.

A money-laundering case, believed to be the city state’s largest, involving individuals linked to a gang from China’s Fujian province prompted greater scrutiny of individuals and flows.

More crypto entrepreneurs from China are also looking to set up in the Middle East, said Teng. There are now 39 cryptocurrency companies fully licensed by VARA, Dubai’s special regulator for the sector.

“In the crypto and digital asset space, they [Chinese clients] are looking at how friendly the local regulators are,” said Teng. “A lot of the time it can be down to how much risk appetite the different jurisdictions have and Singapore is being a bit more risk averse, certainly compared to Dubai.” 

The Monetary Authority of Singapore has granted 36 licences for digital payment companies, though it began cracking down on unlicensed crypto exchanges this summer. “Clients are increasingly going to the Middle East,” said Teng. “That is definitely a growing business segment for us.”

Sophia Mendelsohn recalls her days as an intern when she had to photocopy electricity bills and highlight them in yellow, before typing the costs into a spreadsheet.

Now the chief sustainability officer and commercial officer at German multinational software group SAP, she is again tracking and documenting energy use and environmental information — although with rather more sophisticated AI systems.

Mendelsohn is one of the few executives in her position to remain vocal about the benefits of corporate sustainability, almost a year after US President Donald Trump came into office describing climate change as a “hoax” and started to reverse green policies.

She says the backlash has made justifying the commitment in commercial terms even more crucial for companies, and sees it as a “window of opportunity”.

“It’s the opportunity we’ve been building for over a decade — to show there is a business case for sustainability, to show there is either a cost curve going down or a profit margin going up,” she says.

SAP is one of a shrinking number of global companies sticking to a science-based plan to cut emissions by 90 per cent by 2030. Mendelsohn is blunt about the new pressures on her peers to deliver more accurate financial information about companies’ climate plans.

“[We’re] being asked and tasked to rise to the occasion with something much more fundamental,” says Mendelsohn. That means grappling with questions core to company strategy: how products or services generate growth, use natural resources and create unwanted costs and consequences.

Katy Jarratt, who oversees sustainability recruitment in the UK for Spencer Stuart, says chief sustainability officers were until recently often hired as “strategic storytellers” — generalists able to influence broad strategy, rather than as “technical experts”.

The change in the political climate has made those executives “ineffectual”, says Jarratt, and many have been let go. Instead, ESG teams that provide specific and essential reporting data are being merged with other functions, such as finance and audit, risk and compliance or investor relations.

“It kills two birds with one stone by ensuring audit-ready ESG metrics and messaging consistency,” Jarratt notes. “In cases where the CSO can ‘roll their sleeves up’ they are being kept on and the bulk of the ESG team let go. In cases where they can’t, the CSO is being let go.”

It is a swift halt to what was a rapid ascendance for sustainability careers in the boardroom. Just a few years ago, the existential crisis of Covid, rising awareness of climate change and threat of regulation meant the CSO role was considered key.

There are still rare instances of progression: the newly appointed chief executive of Hawaiian Airlines, for example, is the former head of sustainability for Alaska Airlines, Diana Birkitt Rakow. But many companies have fallen silent about the role and are reconsidering its positioning.

Financial Times’ analysis of more than 220 US companies with CSOs at the start of this year shows a marked change in the status of the role since Trump’s inauguration. Financial institutions, targeted by a group of Republican US states for restricting funding for fossil fuel companies, were among the first to downgrade or change reporting lines.

Wells Fargo did not replace its chief sustainability officer, Robyn Luhning, after she left the US bank last year. It instead promoted an existing staff member to the role of “head of sustainability” after an eight month gap.

HSBC has downgraded the role from board level and Standard Chartered cut the team led by its chief sustainability officer by more than a third.

Since 2023, the number of CSOs in the US reporting through a company’s legal function has doubled from 10 per cent to 21 per cent, according to the US specialist recruiter Weinreb Group. Many of these executives previously held legal roles, usually as general counsel, before becoming CSO.

This shift followed an increase in the risks of potential litigation, new compliance rules in the EU, and the fallout from rapidly changing US regulations and policies in the second Trump era.

Chipmaker Nvidia, for example, recruited Josh Parker as head of corporate sustainability from data storage company Western Digital, where he was assistant general counsel with a background in IP law and engineering.

Double-badging is also on the rise. In some cases, sustainability responsibilities have been added to the chief strategy or chief operating officer jobs, as environmental risks rise in prominence.

When UBS’s head of sustainability Michael Baldinger left this year, the bank gave the CSO role to Christian Leitz, who is also its corporate historian.

Unilever’s former CSO, Rebecca Marmot, has recently left, less than a year after her role was merged with the chief corporate affairs job.

Vicky Moffat, chief executive of climate-focused board network Chapter Zero, says the majority of company directors still recognise sustainability as central to their fiduciary duties. But she believes the function will be increasingly folded into other management roles.

In a new survey of Chapter Zero members, including FTSE 100 chairs and non-executive directors, about three quarters of boards still saw sustainability as a driver of innovation and growth, and part of core business strategy — but were not talking about it as much.

“[In future] sustainability may not actually exist as a function at executive level itself,” Moffat says.

A smaller group of C-suite executives are expected at the UN COP30 climate summit taking place in the South American country over the next fortnight — in part a result of the difficulties of the location at the gateway of the Amazon rainforest. Their topics of conversation are expected to be more about energy security and costs than the drivers of climate change.

Jarratt argues that less rhetoric around ESG does not mean there is less appetite for evidence. Large asset managers, she says, are explicitly requesting that ESG data is integrated into company strategy and reporting. “The CSOs who survive are those who from the very beginning can demonstrate they have explicitly created value,” she says.

SAP’s Mendelsohn, who held the CSO position at airline JetBlue and IT consulting group Cognizant before joining SAP in 2023, agrees, saying: “Before, the CSO was really tasked with two things: one, reduce the ‘bad’ for as cheap as possible, then two, put it in a pretty PDF report and make sure the board and the audit committee are happy.” Now, political and trade pressures show “why it is so important that sustainability data and product carbon footprint be based on ‘actuals’ — not estimates,” she adds.

She describes the contemporary CSO as not merely a consultant or policy architect, but a multitasker capable of influencing other senior officers and also gathering specific financial, operating and carbon footprint data at a localised level.

She says businesses are demanding details from suppliers to assess their own risks. Investors, too, are “ready for the details”. “They want to get into the nitty gritty . . . We have sometimes misinterpreted the lack of questions on a C-suite level as a lack of interest. The dialogue has shifted towards higher quality, and in different rooms.”

Climate Capital

Where climate change meets business, markets and politics. Explore the FT’s coverage here.

Are you curious about the FT’s environmental sustainability commitments? Find out more about our science-based targets here

Stay informed with free updates

Simply sign up to the Cryptocurrencies myFT Digest — delivered directly to your inbox.

Crypto investors worried about their tokens getting hacked are boosting demand for secure devices and wallets that keep customers’ tokens safely offline.

As hack attacks on companies and individuals have hit a record, Ledger, which sells hardware devices resembling USB drives that help investors securely store their cryptocurrencies, said it was having its best year yet.

Pascal Gauthier, chief executive of Ledger, founded in Paris in 2014, said revenues have hit triple-digit millions so far in 2025. “We’re being hacked more and more every day . . . hacking of your bank accounts, of your crypto, and it’s not going to get better next year and the year after that,” he told the Financial Times.

About $2.2bn worth of crypto was stolen in the first half of this year, according to data firm Chainalysis, more than was taken in the whole of 2024. About 23 per cent of hacks targeted individuals’ wallets, in what Chainalysis called an “increasingly significant” form of theft.

Hack attacks on both crypto companies and individuals are becoming increasingly common, especially as the price of bitcoin and other tokens has hit new record highs this year, propelled by Donald Trump championing the industry. North Korean hackers stole $1.5bn worth of crypto tokens from exchange Bybit in February, in the biggest heist ever. 

“As we’ve seen a record-setting year in lawful crypto activity, we’ve also seen a record-setting year in unlawful crypto activity,” said Ari Redbord, global head of policy at blockchain intelligence company TRM Labs.

The jump in demand for Ledger’s devices comes ahead of the boost the company typically gets from Black Friday and Christmas sales, and Gauthier said Ledger will fundraise probably next year.

Smartphones and computers have been designed for communication and entertainment, not security, he said, adding that the company’s growth is coming from “the realisation that hackers are getting more aggressive and so you need to upgrade your security”.

Other companies such as Czech Republic-based Trezor and Switzerland-based Tangem also offer so-called cold storage wallets, allowing crypto holders alternatives to holding their tokens directly on an exchange such as Coinbase or Binance.

Redbord added that digital asset holders are rightfully looking for ways to safely hold their assets, and as the crypto industry grows, “people are going to have more and more need for these devices”.

Ledger secures about $100bn worth of bitcoin for its customers, and was valued at $1.5bn in 2023 after raising money from investors including 10T Holdings and Singapore’s True Global Ventures. 

Gauthier is eyeing future fundraising, either a listing in New York, or a private round, and is boosting headcount in New York. “Me spending more time in New York is with the understanding that money is in New York today for crypto, it’s nowhere else in the world, it’s certainly not in Europe.”

Rising crypto prices has led to rising criminality around holders of the virtual currency. As well as crypto hacks, kidnappings are also prevalent as criminals try to physically seize traders’ funds. Ledger’s own co-founder and his wife were kidnapped in France earlier this year and criminals sought a ransom paid in crypto. The criminals were later arrested, and the funds traced and frozen. Chainalysis said that rising crypto prices will probably trigger “additional opportunistic physical attacks against known crypto holders”.

The national consumer price index (CPI), a key gauge of inflation, rose 0.2 per cent year on year last month, according to data released by the National Bureau of Statistics on Sunday.

The reading beat market expectations after a poll by financial provider Wind forecast a 0.04 per cent drop. In September, the CPI was down 0.3 per cent year on year.

Premier Li Qiang has called for more efforts to unleash potential consumption by removing restrictions on spending and accelerating the development of new growth drivers such as service industries and new forms of consumption at a meeting of the State Council, China’s cabinet, in August.

“CPI inflation rose in October. It is a surprise to the market,” said Zhang Zhiwei, chief economist at Pinpoint Asset Management in Hong Kong, noting that “it is too early to conclude the deflation is over”.

At a time when AI software and applications have become commonplace in daily life and businesses around the globe, ChatGPT’s maker, OpenAI, has written a cautionary note on AI and how it might be progressing faster than expected.

OpenAI tries to distinguish between AI as conventional technology and the potential emergence of “superintelligence,” which OpenAI believes could pose a catastrophic risk. “The potential upsides are enormous; we treat the risks of superintelligent systems as potentially catastrophic,” OpenAI said.

In a detailed blog post, OpenAI’s artificial intelligence lab has argued that there is a significant gap in the way AI is perceived and its true, rapid advancements.

While the majority of the population can only utilise AI in the form of Chatbots, OpenAI has stated that its systems can already outperform humans in “challenging intellectual competitions.”

In order to mitigate any potential risks originating from AI, OpenAI’s artificial intelligence has called for new safeguards, urging frontier AI companies to agreed on a shared safety principle. This is quite similar to the way society developed building codes.

OpenAI also advocated for an “AI resilience ecosystem”, comparing the need to the creation of the cybersecurity field. It added that no “superintelligent systems” should be deployed without robust methods to align and control them.

Despite the cautionary note, however, OpenAI admitted that AI can be revolutionary in the fields of drug development, climate modelling, and personalised education.

“AI systems will help people understand their health, accelerate progress in fields like materials science, drug development, and climate modelling, and expand access to personalised education for students around the world,” the post read.

OpenAI’s cautionary note on AI comes at a time when the company is gearing up for its debut on the stock market, with the Silicon Valley giant already gobbling up a valuation of half a billion dollars.

ABB (SWX:ABBN) has attracted investor attention recently, with shares trading at 56.12 CHF after a month of mostly sideways movement. Given the company’s steady revenue and profit growth, many are revisiting its long-term prospects.

See our latest analysis for ABB.

ABB’s share price has cooled slightly after its strong year-to-date climb. The recent dip reflects shifting sentiment following a robust run. Still, long-term performance has been remarkable, as highlighted by a 14.43% total shareholder return over the past year and an impressive 171.58% gain over five years. This signals that momentum remains clearly positive even as the stock takes a short breather.

If you’re interested in uncovering more opportunities with strong growth and committed insiders, now is a great time to broaden your search and discover fast growing stocks with high insider ownership

With ABB’s strong fundamentals and only modest recent price shifts, investors face a familiar dilemma: is this a rare window to invest at fair value, or are future gains already reflected in the current price?

The most popular narrative places ABB’s fair value in line with its latest closing price of CHF56.12. While some variance exists in analyst projections, the narrative’s consensus casts ABB as trading close to what its future earnings growth justifies.

ABB’s robust order intake, particularly in electrification, utility, and data center demand, reflects structural increases in global electricity consumption and grid upgrades as industries and urban infrastructure transition away from fossil fuels. This supports visible multi-year revenue growth and an expanding order backlog.

Read the complete narrative.

Curious about why analysts think revenue visibility and recurring income are only part of the story? Discover what ambitious growth assumptions and bold profitability forecasts are driving this razor-sharp valuation call. The secrets behind the numbers might just surprise you.

Result: Fair Value of $55.45 (ABOUT RIGHT)

Have a read of the narrative in full and understand what’s behind the forecasts.

However, persistent weakness in key end-markets and intensifying competition, especially in China, could still trigger earnings volatility and test ABB’s growth assumptions.

Find out about the key risks to this ABB narrative.

Switching lenses, our DCF model suggests ABB may actually be trading above its estimated fair value of CHF49.86 per share. This implies the current price could reflect more optimism than future cash flows might justify. Does this point to hidden downside, or is the market seeing strengths that models cannot capture?

Look into how the SWS DCF model arrives at its fair value.

If our take doesn’t align with your view or if you prefer digging into the numbers yourself, start building your own ABB story in under three minutes. Do it your way

A great starting point for your ABB research is our analysis highlighting 2 key rewards and 1 important warning sign that could impact your investment decision.

Don’t let your next big opportunity slip through the cracks. Expand your possibilities with fresh themes and new angles; the smartest investors look beyond the obvious.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include ABBN.SW.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

Morningstar (MORN) shares have taken investors on a ride over the past year, with returns down nearly 38% in that span. Market watchers are looking closely at recent performance to gauge where value opportunities might emerge.

See our latest analysis for Morningstar.

After a tough year for Morningstar, the share price is showing some early signs of stabilizing, climbing 1.82% over the last trading day after months of negative momentum. While the company’s long-term total shareholder returns have held up better than recent dips might suggest, there is no denying that short-term sentiment remains cautious as investors look for signals of a turnaround.

If you’re on the lookout for other stocks that may be gaining ground under the radar, now is a great time to broaden your search and discover fast growing stocks with high insider ownership

With shares trading well below long-term analyst price targets and recent results showing some signs of progress, the key question is whether Morningstar is undervalued at current levels or if the market is anticipating growth ahead.

Morningstar’s price-to-earnings ratio of 23.6x puts it just below the Capital Markets industry average, suggesting the market sees value but is not pricing in outsized upside. At the last close price of $215.49, this signals Morningstar trades at a slightly lower valuation than its peers, though not at a dramatic discount.

The price-to-earnings (P/E) ratio reflects how much investors are willing to pay today for a dollar of earnings tomorrow. For financial services firms like Morningstar, the P/E ratio is often used as a barometer of growth expectations and profitability.

In this case, the P/E multiple is lower than the average for similar companies in the sector, meaning investors are not overpaying relative to the industry. However, compared to the estimated “fair” P/E of 14.1x, the current valuation could be seen as stretched if the company does not deliver higher earnings growth to justify the market’s premium. The current level is above what might be expected if the market consensus shifts closer to intrinsic value.

Explore the SWS fair ratio for Morningstar

Result: Price-to-Earnings of 23.6x (ABOUT RIGHT)

However, continued earnings volatility or slower revenue growth could pressure the stock, particularly if broader market sentiment remains defensive in the near term.

Find out about the key risks to this Morningstar narrative.

Taking another approach, our SWS DCF model presents a very different picture for Morningstar. Based on future cash flows, the model finds the current price of $215.49 is well above its fair value estimate of $93.05. This suggests Morningstar could be significantly overvalued at the moment. How do investors reconcile these sharply opposing signals as they look ahead?

Look into how the SWS DCF model arrives at its fair value.

Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out Morningstar for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 875 undervalued stocks based on their cash flows. If you save a screener we even alert you when new companies match – so you never miss a potential opportunity.

If you have a different perspective or prefer to dive into the numbers yourself, you can easily assemble your own narrative in just a few minutes. Do it your way

A good starting point is our analysis highlighting 4 key rewards investors are optimistic about regarding Morningstar.

Keep your portfolio ahead of the curve by uncovering top stocks in booming sectors and fast-changing markets. Now is your chance to stay a step ahead.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include MORN.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com