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A 10-year initiative in Boston has helped narrow the gender wage gap by 30%.
Across the country, the difference between the earnings of men and women has remained stubbornly consistent.
Despite recent progress in Boston, the model may be hard to replicate in other cities.

Tomasz Szulczewski | Moment | Getty Images

Women continue to make great strides in the workforce, achieving increasing levels of education, and advancing into senior leadership positions. However, the gender pay gap — the difference between the earnings of men and women — has barely budged in recent years.
In the U.S., women who work full time are typically paid about 80 cents for every dollar paid to their male counterparts, nearly the same disparity that existed two decades earlier.

There is no single explanation for why progress toward narrowing the pay gap has stalled, according to a recent report by the Pew Research Center, although women are still more likely to pursue careers in lower-paying industries and take time out of the labor force or reduce the number of hours worked because of caretaking responsibilities — often referred to as the “motherhood penalty.” Systemic bias has also played a role.
In Boston, however, change is happening despite those headwinds.
New research shows the gender wage gap decreased by 30% over the last two years, according to the Boston Women’s Workforce Council, which was formed a decade ago in partnership with the Boston mayor’s office to address this challenge.
To be sure, in Boston, women still only earn 79 cents for every dollar a man earns. However, that marks a 9-cent improvement from the gap reported by the organization in 2021.

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“This is the first time we’ve seen a real decrease,” said Kimberly Borman, executive director of the Boston Women’s Workforce Council.

Two factors have helped move the needle, according to the council: Salaries for women overall rose 6% between 2021 and 2023, and more women advanced into higher-paying senior positions.
The council’s annual report also found that the racial/ethnic wage gap did not improve over the same time period. Women of color remain overrepresented in lower-paying industries and positions and rigid workplace practices don’t accommodate for the needs of working parents, the report found, in addition to persistent bias in hiring and promotion practices.

Equal pay for equal work

The council recruits companies in Boston to sign the 100% Talent Compact, a pledge to work toward fixing wage and advancement inequities and a commitment to share their payroll data. More than 250 employers have joined the initiative.
The idea is that pay transparency will bring about pay equity, or essentially equal compensation for work of equal or comparable value, regardless of worker gender, race or other demographic category.

Other cities have reached out in the hope of achieving similar success, but the model may be hard to replicate, Borman said. In Boston, major employers such as MassMutual and Mass General were early co-signers.
“There’s a general feeling among CEOs that this is something that has to be paid attention to,” Borman said.
Those companies have also worked closely with the mayor, she added, noting that “the public and private partnership has helped.”

Equal opportunities for advancement

Going forward, having more women in the C-suite is key to further progress. “There’s a wage gap but there’s also something called a power gap,” Borman said.
Even in a city in which slightly more than half of all professional employees are women, women are often prevented from getting the same opportunities to advance, according to a separate Women in the Workplace study from Lean In and McKinsey.
“We need employers to continue their efforts to address the power gap by advancing women into positions of power, and therefore higher pay, at the same rate as men,” Borman said.
That’s where progress often falls short, the Lean In report found.
“The ‘broken rung’ is the biggest barrier to women’s advancement,” Rachel Thomas, Lean In’s co-founder and CEO, recently told CNBC.
“Companies are effectively leaving women behind from the very beginning of their careers, and women can never catch up,” Thomas said.
Ultimately, that is the biggest obstacle to success. Even moving “closer to equity isn’t enough,” Borman said. “We are working towards complete elimination but it’s going to take promoting women into higher-paying jobs.” More

The U.S. economy avoided the recession forecast for 2023.
Experts now say a soft landing or mild recession is possible in 2024.
These tips can help investors prepare for the unexpected.

Grocery items are offered for sale at a supermarket on August 09, 2023 in Chicago, Illinois. 
Scott Olson | Getty Images

Heading into 2023, the predictions were nearly unanimous: a recession was coming.
As the year comes to a close, the forecasted economic downturn did not arrive.

So what’s in store for 2024?
An economic decline may still be in the forecast, experts say.
The prediction is based on the same factors that prompted economists to call for a downturn in 2023. As inflation has run hot, the Federal Reserve has raised interest rates.
Typically, that dynamic has triggered a recession, defined as two consecutive quarters of negative gross domestic product growth.
Some forecasts are optimistic that can still be avoided in 2024. Bank of America is predicting a soft landing rather than a recession, despite downside risks.

More than three-fourths of economists — 76% — said they believe the chances of a recession in the next 12 months is 50% or less, according to a December survey from the National Association for Business Economics.

“Our base case is that we have a mild recession,” said Larry Adam, chief investment officer at Raymond James.
That downturn, which may be “the mildest in history,” may begin in the second quarter, the firm predicts.
Of the NABE economists who also see a downturn in the forecast, 40% say it will start in the first quarter, while 34% suggest the second quarter.
Americans who have struggled with high prices amid rising inflation may feel a downturn is already here.
To that point, 56% of people recently surveyed by MassMutual said the economy is already in a recession.
Layoffs, which made headlines at the end of 2023, may continue in the new year. While 29% of companies shed workers in 2023, 21% of companies expect they may have layoffs in 2024, according to Challenger, Gray & Christmas, an outplacement and business and executive coaching firm.
To prepare for the unexpected, experts say taking these three steps can help.

1. Reduce your debt balances

More than one third — 34% — of consumers went into debt this holiday season, down from 35% in 2022, according to LendingTree.
The average balance those shoppers are taking away is $1,028, well below last year’s $1,549 and the lowest since 2017.
But higher interest rates mean those debts are more expensive. One-third of holiday borrowers have interest rates of 20% or higher, LendingTree reports.
Meanwhile, credit card balances topped a record $1 trillion this year.
Certain moves can help control how much you pay on those debts.
First, LendingTree recommends automating your monthly payments to avoid penalties for late payments, including fees and rate increases.
If you have outstanding credit card balances that you’re carrying from month to month, try to lower the costs you’re paying on that debt, either through a 0% balance transfer offer or a personal loan. Alternatively, you may try simply asking your current credit card company for a lower interest rate.
Importantly, pick a debt pay down strategy and stick to it.

2. Stress-test your finances

Much of how a recession may affect you comes down to whether you still have a job, Barry Glassman, a certified financial planner and founder and president of Glassman Wealth Services, told CNBC.com earlier this year. Glassman is also a member of CNBC’s Financial Advisor Council.
An economic downturn may also create a situation where even those who are still employed earn less, he noted.
Consequently, it’s a good idea to evaluate how well you could handle an income drop. Consider how long, if you were to lose your job, you could keep up with bills, based on savings and other resources available to you, he explained.
“Stress-test your income against your ongoing obligations,” Glassman said. “Make sure you have some sort of safety net.”

3. Boost emergency savings

Even having just a little more cash set aside can help ensure an unforeseen event like a car repair or unexpected bill does not sink your budget.
Yet surveys show many Americans would be hard pressed to cover a $400 expense in cash.
Experts say the key is to automate your savings so you do not even see the money in your paycheck.
“Even if we do get through this period relatively unscathed, that’s all the more reason to be saving,” Mark Hamrick, senior economic analyst at Bankrate, recently told CNBC.com.
“I have yet to meet anybody who saved too much money,” he added.
Another advantage to saving now: Higher interest rates mean the potential returns on that money are the highest they have been in 15 years. Those returns may not last, with the Federal Reserve expected to start cutting rates in 2024. More

Many student loan borrowers are not finding it easy to resume their payments.
Fortunately, struggling borrowers have options, including continuing to pause their bills or enrolling in a more affordable repayment plan.

Blackcat | E+ | Getty Images

Many student loan borrowers are struggling to resume their payments.
When the bills restarted after a more than three-year-long reprieve, just 60% of people with federal education loans had made a payment by mid-November, U.S. Department of Education data shows.

“The fact that so few borrowers have been able to make a payment is unfortunately unsurprising,” said Persis Yu, deputy executive director at the Student Borrower Protection Center. “[People] were struggling to make payments before the pandemic.”
Outstanding education debt in the U.S. has surpassed $1.7 trillion. In fact, education debt burdens Americans more than credit card or auto debt. The average loan balance at graduation has tripled since the 1990s, to $30,000 from $10,000. Around 7% of student loan borrowers owe more than $100,000.
To help cushion the blow of resuming payments, the Biden administration is implementing a 12-month “on ramp” to repayment, during which borrowers are shielded from the worst consequences of falling behind. President Joe Biden also said his administration is still trying to figure out a way to cancel student debt after the Supreme Court struck down its first plan.
Here are the other options for borrowers unable to pay their bills.

1. Deferments

Struggling borrowers should first see if they qualify for a deferment, experts say. That’s because their loans may not accrue interest under that option, whereas they almost always do in a forbearance.

If you’re unemployed when student loan payments resume, you can request an unemployment deferment with your servicer. If you’re dealing with another financial challenge, meanwhile, you may be eligible for an economic hardship deferment.
Those who qualify for a hardship deferment include people receiving certain types of federal or state aid and anyone volunteering in the Peace Corps, said higher education expert Mark Kantrowitz.
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With both a hardship and an unemployment deferment, interest generally doesn’t accrue on undergraduate subsidized loans. Other loans, however, will rack up interest.
The maximum amount of time you can use an unemployment or hardship deferment is usually three years, per type.
Other, lesser-known deferments include the graduate fellowship deferment, the military service and post-active duty deferment, and the cancer treatment deferment.

2. Forbearances

Student loan borrowers who don’t qualify for a deferment may request a forbearance.
Under this option, borrowers can keep their loans on hold for as long as three years. However, because interest accrues during the forbearance period, borrowers can be hit with a larger bill when it ends.
Kantrowitz provided an example: A $30,000 student loan with a 5% interest rate would increase by $1,500 a year under a forbearance.

If a borrower uses a forbearance, he recommends they at least try to keep up with their interest payments during the pause to prevent their debt from increasing.
“A deferment or forbearance should be a last resort, but they are better than defaulting on the loans,” Kantrowitz said.
Betsy Mayotte, president of The Institute of Student Loan Advisors, a nonprofit, recommends borrowers only use a forbearance or deferment for a short-term hardship, including a sudden big medical expense or period of joblessness.
Borrowers are best off finding a payment plan they can afford, Mayotte said. 

3. Income-driven repayment plans

Income-driven repayment plans can be a great option for borrowers who are worried they won’t be able to afford their bills, experts say.
Those plans cap your monthly payments at a percentage of your discretionary income and forgive any of your remaining debt after 20 or 25 years.
The Biden administration recently introduced a new repayment option under which borrowers could pay just 5% of their discretionary income toward their undergraduate student loans, with some people having a $0 monthly bill.
Some of the benefits of the Saving on a Valuable Education (SAVE) plan, however, won’t fully go into effect until the summer of 2024 because of the timeline of regulatory changes. More

ETF Strategist

Investors await approval for the first U.S. spot bitcoin exchange-traded fund, which would be a milestone for cryptocurrency investors.
Discussions between the Securities and Exchange Commission and asset managers with pending spot bitcoin ETF applications have advanced.
Still, bitcoin “remains an extremely volatile and speculative asset,” said Bryan Armour, director of passive strategies research for North America at Morningstar.

Marco Bello | Reuters

The price of bitcoin has surged in 2023 as investors await approval for the first U.S. spot bitcoin exchange-traded fund, which would be a milestone for cryptocurrency investors, experts say.
In early December, the digital currency topped $44,000 for the first time since April 2022, and year-to-date gains were above 160%, as of Dec. 21, mostly fueled by optimism for a spot bitcoin ETF.

Meanwhile, discussions between the Securities and Exchange Commission and asset managers hoping to list bitcoin ETFs have advanced to technical details, signaling to some experts that an approval could be imminent.
More than a dozen firms — including BlackRock, WisdomTree, Valkyrie and others — are waiting for the green light from the SEC, which could come in early January.

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“For ETF investors, this would be the best product on the market,” said Bryan Armour, director of passive strategies research for North America at Morningstar. “All the other options right now have flaws to varying degrees.”
Currently, U.S. investors can buy bitcoin futures ETFs, which own bitcoin futures contracts, or agreements to buy or sell the asset later for an agreed-upon price. The long-awaited bitcoin spot ETF would invest in the digital asset directly.

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If the SEC signs off on a spot bitcoin ETF, Armour anticipates a “batch approval,” with multiple ETF listings on the same day. “I would expect them to rule on spot ETFs holistically because most issuers are taking similar approaches” with applications, he said.

“There are a lot of good signs that the SEC is taking the most recent batch of filings more seriously,” Armour said. “I’m more optimistic about a bitcoin ETF than ever before.”
Some crypto investors expect a bitcoin rally upon approval, but it’s also possible the price will dip as investors sell to collect profits, Armour said.

Cryptocurrency remains an ‘extremely volatile’ asset

While SEC approval of a spot bitcoin ETF may make the asset class more accessible to the masses, experts urge investors to consider their risk tolerance and goals before piling in.
“I think it depends on the investor,” said certified financial planner Ben Smith, founder of Cove Financial Planning in Milwaukee. If you’re a more aggressive investor with an appetite for higher risk, a spot bitcoin ETF could fit into a diversified portfolio, he said.

Still, experts often suggest limiting cryptocurrency exposure, such as 1% to 5% of your allocation, to minimize downside exposure. “It still remains an extremely volatile and speculative asset,” Armour added.
Some 72% of financial advisors said they would be more likely to invest in crypto if spot ETFs were approved in the U.S., according to a 2022 Nasdaq survey of 500 advisors. More

Your Money

As a personal finance reporter at CNBC, most days of the year, I’m at my desk talking to people about money.
Here’s some of the advice that has stuck with me.

Jack Hollingsworth | Tetra Images | Getty Images

As a personal finance reporter at CNBC, most days of the year, I’m at my desk talking to people about money.
Although the general topic stays the same, so many of the conversations I have with sources leave me with a new perspective.

When I got the idea to do a roundup of some of the most interesting and helpful money insights I’d heard in 2023, I knew right away the points I wanted to bring back. Maybe that’s one definition of good advice? Guidance you may ignore but can’t forget?
Well, here are some of the ideas and recommendations that stuck.

1. ‘When we don’t talk about money, we’re shielding ourselves from knowing reality’

“I find people are more private about money than their sex life,” psychoanalyst Orna Guralnik, who stars on the Showtime documentary series “Couples Therapy,” told me in May.
It can take years of therapy sessions, Guralnik said, for people to get around to the subject. I was amazed by that! Money is an unavoidable daily part of our lives, and so how could we not talk about it?

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Even more interesting was how Guralnik articulated the dangers of this avoidance.

“Money is a very important point of contact with reality,” she said. “People can have all sorts of fantasies and ideas about themselves. But money is feedback from the real world. So, when we don’t talk about money, we’re shielding ourselves from knowing reality.”
This really resonated. I’ve heard friends say they’ve gone months without checking their credit card balances, and I’ve noticed how I always underestimate my spending when I draw up a budget.

Psychoanalyst Orna Guralnik, who stars on the Showtime documentary series “Couples Therapy.”
Source: Showtime

Guralnik pushes people to be more real.
“You can’t take care of yourself if you don’t deal with reality,” she said. “We learn from reality. We grow from reality.”

2. How to still have $1 million at 100

Bill Stovall is a stellar example of how keeping expenses in line with income can pay off.
At 100, he still has more than $1 million saved. What’s more, throughout his career in the steel industry, he said he never had an annual salary beyond $40,000. But each year he salted away 2% of his income for his old age — and his employer usually matched that.
“That compounded over the years,” Stovall said in our November interview.

Bill Stovall and his wife, Martha.

The only debts he ever took on, he said, were for his mortgages. To this day, he looks for discounts at the grocery store and orders the cheaper dishes on restaurant menus. He enjoys following the stock market but almost never buys or sells individual stocks.
His life story illustrates the benefits of consistency and frugality, two of the most effective financial habits.
“I always lived within my means,” Stovall said. “I’m not a gambler.”

3. Money struggles aren’t just on you

When I interviewed Pulitzer-prize winning author Matthew Desmond in March about his new book “Poverty, by America,” we talked about a story from his own childhood. When his father lost his job and the bank took their house, Desmond originally blamed his family for their struggles.
“When you’re in the middle of something, you often grasp at the explanation that is closest to you, which is often about shame and guilt,” Desmond said. When he interviewed people facing evictions for his first book, he said they often believed it was their fault they were losing their homes.

Arrows pointing outwards

“But I think it’s the sociologist’s job, to quote C. Wright Mills, to turn a personal problem into a political one,” Desmond said. “Millions of people are facing this every year. This is not on you.”
Desmond’s wisdom applies to so much of the financial hardship people endure today in the U.S.
Whether it’s a layoff or food insecurity, understanding when your struggle is the product of a larger societal problem helps you to be less hard on yourself — and hopefully more compassionate with others.

4. Tiny financial changes are powerful

I’ll end at the beginning.
In January, I interviewed financial experts about the money moves people should make at the start of a new year. I told my sources that I didn’t believe people could make big changes overnight. And so, I asked them, were there small things they could do that would still make a difference?
They had a lot of ideas.

Rita Assaf, vice president of retirement with Fidelity Investments, provided one example. For someone age 35 who is making $60,000 a year, upping their retirement saving contribution by 1%, or less than $12 a week, could generate an additional $110,000 by retirement, assuming a 7% annual return.
More recently, as student loan payments restarted, higher education expert Mark Kantrowitz illustrated the same lesson with paying down debt. If a borrower owed $10,000, and had a 5% interest rate, an additional $50 a month would shave nearly four years off a 10-year repayment timeline.
Those numbers have stayed with me, as a reminder of the power of tiny changes we can work toward in the new year.
Good luck! More

ETF Strategist

ETFs have kicked open the door to opportunities for countless investors who have typically remained on the margins of lucrative asset management.
Diversification is a cornerstone of sound investment strategies, and ETFs naturally lend themselves to this principle.
ETFs’ liquidity and transparency also offer investors the flexibility they need to react to market movements.

Westend61 | Westend61 | Getty Images

As we stand on the cusp of the new year, one trend on the investment landscape that has brought significant changes in past years appears unshakeable: exchange-traded funds.
The ongoing popularity of ETFs is no coincidence. Historically speaking, stock portfolio and asset management were much like exclusive clubs, since investing in diverse assets, such as stocks, commodities or bonds, required hefty capital.

However, ETFs, which are traded on exchanges just like individual stocks, have kicked open the door to a myriad of opportunities for countless investors who have typically remained on the margins of lucrative asset management.
Beyond accessibility, ETFs boast many other merits. Diversification, for one, is a cornerstone of sound investment strategies, and ETFs naturally lend themselves to this principle.

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ETFs also offer price updates throughout the trading day, allowing people to make informed decisions based on present market conditions. Finally, ETFs’ liquidity and transparency are two more feathers in their cap, allowing individuals to buy or sell them throughout the trading day. This offers investors the flexibility they need to react to market movements.
The versatile ETF spectrum, covering various sectors, regions and strategies, provides investors with extensive opportunities to customize investments to their financial goals and risk levels. As we move into 2024, the potential for growth and innovation within the ETF space is substantial, presenting exciting opportunities for portfolio diversification and capitalizing on ETF benefits.

Growth ETFs have the potential for higher returns

Let’s start simple: growth ETFs.

As a fund that focuses on companies expected to grow at an above-average rate compared to others in the market, growth ETFs provide multiple benefits for investors. Number one is the potential for higher returns.
Second, many growth ETFs are invested in sectors such as technology, health care and renewable energy, which are the driving forces of innovation. Investing in these sectors can provide exposure to emerging trends and technologies.
Growth ETFs are great at diversifying a portfolio. By including them, individuals can balance other investments that may have different risk and return characteristics, such as value stocks or bonds, and improve the overall performance of their portfolio.

Fixed-income ETFs can diversify bond holdings

Fixed-income ETFs have been garnering significant interest from investors, with inflows expected to continue the 2023 trend well into 2024.
Fixed-income ETFs offer an effective way to diversify portfolios. They provide exposure to different types of bonds, such as corporate or municipal bonds, helping reduce overall portfolio risk. They also offer the flexibility of being traded on stock exchanges, which allows for liquidity and lets investors buy or sell shares easily.
Moreover, with expectations that the Federal Reserve may be nearing the end of its rate hiking cycle, it might be a great time to consider fixed-income ETFs, more so for those with an overweight cash position.

Alternative ETFs offer exposure to new asset classes

Alternative ETFs are ETFs that provide exposure to alternative asset classes or investment strategies, ranging from hedge fund tactics to antiques and collectibles. They offer unique chances for diversification by exposing people to asset classes that may have low correlations with traditional investments such as stocks and bonds. This way, they can help reduce overall portfolio risk.
Moreover, they generally have lower expense ratios, unlike actively managed alternative options, such as private equity funds. This cost efficiency can result in improved net returns for investors.

As with any other investment security, it’s important to thoroughly research and understand alternative ETFs before considering them for one’s profile, but it’s hard to deny their potential in safeguarding a portfolio against market volatility while ensuring investors remain on their paths to prosperity.
From high returns and exposure to cutting-edge sectors to stability and robust diversification, the potential ETFs carry is immense — and this sphere is only expected to keep evolving, presenting a wealth of brand-new opportunities. As we welcome the next year, investors would greatly benefit from harnessing the power of ETFs to meet — exceed even — their financial goals.
After all, a well-diversified strategy is key to successful risk management and achieving long-term financial success.
— Christopher J. Day, founder of Days Global Advisors, a Houston-based advisory firm that offers wealth management and private portfolio services. More

Year-end Planning

While tax breaks are not the main reason for charitable giving, some strategies can help investors optimize their donations.
“We encourage people to start thinking about charitable giving in June,” said Julie Goodridge, founder and CEO at NorthStar Asset Management, which ranked No. 44 on the 2023 CNBC FA 100 list.
It might be too late to execute some of these money moves as the end of 2023 approaches, but now is a smart time to start planning for the 2024 tax year.

Sdi Productions | E+ | Getty Images

While tax breaks are not the main reason for charitable giving, some strategies can help investors optimize their donations.
It’s too late to execute some strategies with the end of 2023 just days away.

“We encourage people to start thinking about charitable giving in June,” said Julie Goodridge, founder and CEO at NorthStar Asset Management, which ranked No. 44 on the 2023 CNBC FA 100.
But now is a smart time to start planning for 2024.
“You might benefit from taking care of these things sooner rather than later. It gives you more time to think about what you’re doing, be more thoughtful and make sure you’re not missing opportunities,” said certified financial planner Stephen Cohn, co-president and co-founder of Sage Financial Group, ranked No. 22 on the FA 100 list.

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Your early planning can also benefit the nonprofits you want to aid.
“It really helps a lot of organizations spread out and get [donations] earlier in the year anyway,” said CFP Shaun Williams, partner and private wealth advisor of Paragon Capital Management. The firm ranked No. 57 on CNBC’s FA 100.

Here are three strategies to optimize your charitable contributions from some of this year’s top advisors:

1. Open a donor-advised fund 

One of the most common strategies for increasing deductions for charitable donations is to open a donor-advised fund, said Cohn.
These accounts let a taxpayer donate a lump sum upfront to claim the deduction in that tax year, and then dole out the money to nonprofits over time. A significant contribution can enable the taxpayer to itemize deductions, rather than take the standard deduction, and receive a tax benefit for their charitable giving, he said.
Consider opening a donor-advised fund within your last working years and contribute enough money to donate throughout your early retirement.
“A tax deduction is more powerful the higher the bracket you’re in,” said Williams. 

Mladenbalinovac | E+ | Getty Images

2. Donate appreciated stock

Investors can do “significant charitable giving by looking at your portfolio and giving away appreciated stock,” Goodridge said.
Donating appreciated stock gives investors the opportunity to shelter the gains from taxes, Cohn said. If you have held the stock for at least a year, you can generally take its fair market value as a deduction.
“That’s a significant opportunity and benefits people that are looking to donate funds to a charity,” he said. 
Donating appreciated stocks also complements use of a donor-advised fund.
“Give those shares either to a donor-advised account or directly to a nonprofit organization,” Goodridge said.

3.Make qualified charitable distributions

A “qualified charitable distribution,” or QCD, is a direct distribution from a pretax individual retirement account or a 401(k) to a charity, Cohn said.
Retirees who must take required minimum distributions, or RMDs, from such retirement accounts can benefit from fulfilling a portion with a QCD. Doing so helps satisfy the RMD, and the transfer isn’t counted toward their adjusted gross income.

Make sure to take advantage of these breaks in 2024. Most laws around charitable giving may change as provisions in the Tax Cuts and Jobs Act “sunset” by the end of 2025, Williams said.
“Next year’s election is a pretty pivotal year. Whatever happens with these elections would have very long-term effects on taxes overall and charitable giving,” he added. More

The logo of Uber is seen at a temporary showroom at the Promenade road during the World Economic Forum 2023, in the Alpine resort of Davos, Switzerland, on Jan. 20, 2023.
Arnd Wiegmann | Reuters

The Federal Reserve’s forecast for three rate cuts in 2024 has lifted investor sentiment, but macro uncertainty can weigh on investment decisions.
Wall Street’s analysts can dig into the details to find out which stocks are most resilient heading into the new year.

Here are three names favored by Wall Street’s top pros, according to TipRanks, a platform that ranks analysts based on their past performance.

Uber Technologies

Shares of ride-hailing platform Uber Technologies (UBER) have rallied this year, with investors appreciating the improvement in the company’s profitability and its recent inclusion in the S&P 500.
Recently, JPMorgan analyst Doug Anmuth called Uber one of his top picks for 2024. He reaffirmed a buy rating and raised the price target to $76 from $62. The analyst highlighted that Uber has a leading position in two secular growth industries: ridesharing and food delivery.
The analyst expects the company to navigate the ongoing macro challenges and emerge stronger, backed by its dominant position in the ridesharing market and growing food delivery adoption. He is also optimistic about Uber’s ability to expand into other areas with huge total addressable markets like grocery, convenience and alcohol delivery.
Anmuth also sees the possibility of significant earnings before interest, taxes, depreciation and amortization and free cash flow generation, driven by incremental margins on gross bookings of 10% for the mobility business and more than 5% for the delivery business.

“In terms of profitability, supply tailwinds should persist & support continued efficiency gains, further aided by ramping advertising, product improvements, defect leverage, and tighter headcount,” said Anmuth.
Anmuth holds the 100th position among more than 8,600 analysts on TipRanks. His ratings have been successful 61% of the time, with each delivering a return of 17.5%, on average. (See Uber Hedge Funds Trading Activity on TipRanks).

CyberArk

We now move to cybersecurity company CyberArk (CYBR), which specializes in identity security. Last month, the company reported better-than-anticipated third-quarter results, with annual recurring revenue (ARR) increasing 38% to $705 million.   
On Dec. 15, Mizuho analyst Gregg Moskowitz picked CyberArk, along with Microsoft (MSFT) and Adobe (ADBE), as his top picks in the software space for 2024. The analyst expects these companies to gain from key trends like digital transformation, generative artificial intelligence, next-gen security, contact center cloud migrations and more.
The analyst said that he is impressed with CyberArk’s solid and consistent execution despite a challenging macro backdrop. The analyst is optimistic that CYBR’s successful shift to a recurring revenue model would drive even stronger financials in the times ahead. 
“We also view CYBR as the primary beneficiary of a heightened threat landscape that has amplified the need for privileged access, and identity and secrets management,” said Moskowitz.  
In line with his bullish stance about CyberArk’s growth prospects, Moskowitz boosted his price target for the stock to $250 from $195 and reiterated a buy rating.
Moskowitz ranks No. 95 among more than 8,600 analysts tracked by TipRanks. His ratings have been profitable 63% of the time, with each delivering an average return of 16.9%. (See CyberArk Financial Statements on TipRanks) 

Costco Wholesale

Warehouse chain Costco (COST) recently announced better-than-expected fiscal first-quarter earnings, as customers continued to look for value deals on groceries and essentials. Moreover, the company saw improvement in non-food categories.
Baird analyst Peter Benedict noted that while Costco’s earnings per share exceeded Wall Street’s consensus estimate, it lagged his expectations due to lower interest and other income and a higher tax rate.
That said, the analyst highlighted that member engagement KPIs, or key performance indicators, remain robust, with paid membership growing 7.6%. Also, management said that a membership fee hike remains a matter of “when, not if,” he added.
Benedict also drew attention to the improvement in the company’s core e-commerce growth to 6.1% compared to a decline of 0.6% in the sequentially prior quarter, thanks to omni-channel initiatives that continue to fuel higher digital engagement. The analyst added that Costco’s solid balance sheet has plenty of room for funding its nearly $1 billion debt maturity (scheduled in May) with cash even after paying the special dividend of $15 per share. 
“When combined with encouraging commentary around holiday sales trends, COST’s model continues to resonate with consumers and shareholders alike,” said Benedict and reiterated a buy rating on COST stock with a higher price target of $675, up from $600. 
Benedict holds the 84th position among more than 8,600 analysts on TipRanks. His ratings have been successful 68% of the time, with each delivering a return of 13.9%, on average. (See Costco Technical Analysis on TipRanks) More