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Henry Schein shares climbed about 7.5% in Monday trading, clinching their best day since 2022.
Financial firm Gordon Haskett said Robert F. Kennedy Jr.’s advocacy for removing fluoride in public water can help demand for companies like Henry Schein that make dental hygiene products.

Robert F. Kennedy Jr. attends a campaign event for Republican presidential nominee and former U.S. President Donald Trump in Milwaukee, Wisconsin, U.S. November 1, 2024. 
Joel Angel Juarez | Reuters

Dental care supplier Henry Schein advanced in Monday trading as investors bet that Robert F. Kennedy Jr., President-elect Donald Trump’s pick for Health and Human Services secretary, could recommend removing fluoride from the U.S. water system, a move that would lead to a boom in dental visits.
Shares of Henry Schein shares jumped about 7.5%, notching its best day since 2022. Fellow dental product makers Dentsply Sirona and Envista also rose in the session.

Monday’s moves come as investors ready for public health changes under a second Trump administration. Kennedy posted on X before the presidential election this month that a “Trump White House will advise all U.S. water systems to remove fluoride from public water.”

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Fluoride has long been shown as an effective method for fighting cavities. But the mineral has found itself at the center of a nationwide fight that’s led some local communities to end programs centered on its insertion into public water.
While Kennedy will need to win Senate approval to take the job, market participants are already zeroing in on a group of stocks that make dental hygiene products as potential beneficiaries of his policies. That’s because taking fluoride out of water would actually put the tooth cleaning industry in higher demand as consumers look elsewhere to fight cavities, according to firm Gordon Haskett.

A general view of the Henry Schein Inc. building a distributor of health care products and services with a presence in 32 countries, as photographed in Melville, New York.
Bruce Bennett | Getty Images

“The thought here is RFK will bring to HHS a voice that is in favor of reducing, or eliminating, the amount of fluoridation that is added to drinking water,” Don Bilson, Gordon Haskett’s head of event-driven research, told clients in a Monday note. “This will, in turn, lead to an acceleration of tooth decay and more dental visits.”
Henry Schein shares took a leg up in afternoon trading following a Reuters report that activist investor Ananym Capital was calling for changes at the company. The newly launched firm, which is led by Charlie Penner and Alex Silver, believes the board should be shaken up and costs should be cut, among other ideas.

Henry Schein and other stocks in the space offer a bright spot within a sector that has largely struggled since the election. The Health Care Select Sector SPDR Fund (XLV) has tumbled more than 3% in November, putting it on track for its first three-month losing steak since last year. By comparison, the broad S&P 500 has climbed more than 3% in the month.
Gordon Haskett’s Bilson also pointed out that dental stocks were some of the few “spared” health-focused equities as investors responded to the announcement of Kennedy’s nomination last week. Pharmaceutical names were under pressure given Kennedy’s reputation as a vaccine skeptic, while processed food stocks took a hit as traders geared up for increased scrutiny of so-called junk food.
“It caused widespread selling across the healthcare landscape,” Bilson said of the decision to select Kennedy. “Drugmakers, contract research organizations, and health insurers all felt the quake. Rather than stop there, the damage spilled into packaged foods. And advertising.”
While the market appears to be moving on Kennedy’s nomination, Bilson said that regulatory changes would likely take years to come into effect. He also noted that drinking water should fall more under the Environmental Protection Agency than Health and Human Services. More

President-elect Donald Trump’s return to the White House is poised to have big impacts on consumer health care.
Here’s what to know about potential changes coming to Medicaid and Affordable Care Act plans.

U.S. President-elect Donald Trump arrives on November 13, 2024 at Joint Base Andrews, Maryland. 
Andrew Harnik | Getty Images

President-elect Donald Trump’s return to the White House is poised to have big impacts on consumer health care.
Republicans may face few legislative roadblocks with their goals of reshaping health insurance in the U.S., experts said, after the party retained its slim majority in the House of Representatives and flipped the Senate, giving it control of both Congress and the presidency.

Households that get health insurance from Medicaid or an Affordable Care Act marketplace plan may see some of the biggest disruptions, due to reforms sought by Trump and Republican lawmakers, according to health policy experts.
Such reforms would free up federal funds that could be used to help pay for other Republican policy priorities like tax cuts, they said.

Just under 8% of the U.S. population is uninsured right now — the lowest rate in American history, said Michael Sparer, a professor at Columbia University and chair of its Department of Health Policy and Management. That figure was 17% when the Affordable Care Act was enacted more than a decade ago, he said.
“That rate will start going up again,” Sparer said.
Trump announced on Nov. 14 that he wants to tap Robert F. Kennedy Jr. to run the Department of Health and Human Services, which includes the Centers for Medicare & Medicaid Services. CMS, in turn, administers the Affordable Care Act marketplace and the Children’s Health Insurance Program, or CHIP, among other endeavors.

Robert F. Kennedy Jr. speaks with Republican presidential nominee former President Donald Trump at a Turning Point Action Rally in Duluth, GA on Wednesday, Oct. 23, 2024. 
The Washington Post | The Washington Post | Getty Images

Kennedy, a vaccine skeptic who’s been accused of spreading conspiracy theories, has vowed to make big changes to the U.S. health-care system.
A spokesperson for Trump’s transition team did not respond to a request from CNBC for comment about the president-elect’s health policy plans.
Here’s how health care could change for consumers during the incoming Trump administration, according to experts.

Affordable Care Act marketplace

A lab technician cares for a patient at Providence St. Mary Medical Center on March 11, 2022 in Apple Valley, California.
Mario Tama | Getty Images News | Getty Images

‘Betting’ premium subsidies will expire
Based on how the election went, the enhanced subsidies on the Affordable Care Act will likely not be renewed once they expire at the end of 2025, said Cynthia Cox, vice president and director of the ACA program at KFF, a health policy research organization.
“If I was going to place a bet on this, I’d be much more comfortable betting that they are going to expire,” Cox said.
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That government-backed aid, originally passed during the pandemic under the American Rescue Plan in 2021, has significantly lowered the costs of coverage for people buying health insurance plans on the ACA marketplace. Those customers include anyone who doesn’t have access to a workplace plan, such as students, self-employed consumers and unemployed people, among others.
An individual earning $60,000 a year now has a monthly premium of $425, compared with $539 before the enhanced subsidies, according to a rough estimate provided by Cox. Meanwhile, a family of four making about $120,000 currently pays $850 a month instead of $1,649.
Permanently extending the enhanced ACA subsidies could cost around $335 billion over the next 10 years, according to an estimate by the Congressional Budget Office.
“They’re concerned about the cost, and they’re going to be cutting taxes next year likely,” Cox said, of Republicans.
Still, it’s a ‘big’ gamble to forgo health insurance
Around 3.8 million people will lose their health insurance if the subsidies expire, the Congressional Budget Office estimates. Those who maintain their coverage are likely to pay higher premiums.
“The bottom line is uncertainty,” said Sabrina Corlette, co-director of the Center on Health Insurance Reforms at Georgetown University’s McCourt School of Public Policy.
“The good news for marketplace consumers is that the enhanced [subsidies] will be available through 2025, so there should be no immediate changes,” Corlette added.

Even if the subsidies disappear, experts say it’s important to stay enrolled if you can, even if you have to make trade-offs on coverage to keep the costs within budget.
Enrolling in a plan, even a cheaper plan with a big annual deductible, can provide an important hedge against huge costs from unforeseen medical needs like surgery, said Carolyn McClanahan, a physician and certified financial planner based in Jacksonville, Florida.
“I can’t emphasize how big a gamble it is to go without health insurance,” said McClanahan, founder of Life Planning Partners and a member of the CNBC Financial Advisor Council.
“One heart attack easily costs $100,000” out of pocket for someone without insurance, she said. “Do you have that to pay?”

Medicaid

A ‘pretty big target’ for lawmakers
Medicaid is the third-largest program in the federal budget, accounting for $616 billion of spending in 2023, according to the Congressional Budget Office. Trump campaigned on a promise not to make cuts to the two largest programs: Social Security and Medicare.
That makes Medicaid the “obvious place” for Republicans to raise revenue to finance their agenda, said Larry Levitt, executive vice president for health policy at KFF.
“Medicaid will have a pretty big target on its back,” Levitt said.

The bottom line is uncertainty.

Sabrina Corlette
co-director of the Center on Health Insurance Reforms at Georgetown University’s McCourt School of Public Policy

Cuts would “inevitably mean” fewer households would get benefits, Levitt said. Medicaid recipients tend to be lower-income households, people with disabilities and seniors in nursing homes, he said.
Medicaid cuts were a big part of the push among Trump and other Republican lawmakers to repeal and replace the Affordable Care Ac, also known as Obamacare, in 2017, Levitt said.
Those efforts were ultimately unsuccessful.
How Medicaid might be curtailed

Maskot | Maskot | Getty Images

The new Medicaid cuts may take many forms, according to experts, who cite past proposals and remarks from the Trump administration, Republican lawmakers and the Project 2025 conservative policy blueprint.
For example, the Trump administration may try to add work requirements for Medicaid recipients, as it did during his first term, said Sparer of Columbia University.
Additionally, Republicans may try to cap federal Medicaid spending allocated to states, experts said.
The federal government matches a portion — generally 50% or more — of states’ Medicaid spending. That dollar sum is uncapped.
Republicans may try to covert Medicaid to a block grant, whereby a fixed amount of money is provided annually to each state, or institute a per-capita cap, whereby benefits are limited for each Medicaid enrollee, Levitt said.
Lawmakers may also try to roll back the Medicaid expansion under the Affordable Care Act, which broadened the pool of people who qualify for coverage, experts said.
They could do this by cutting federal financing to the 40 states, plus the District of Columbia, that have expanded Medicaid eligibility. That would shift “an enormous financial risk to states, and many states as a result would drop the Medicaid expansion,” Levitt said.

Short-term health insurance plans

Under the previous Trump administration, consumers saw an increase in the availability of non-ACA compliant health insurance options, including short-term plans, experts say. The same is likely to happen over the next four years.
Short-term health insurance plans offer coverage for limited amounts of time, and typically on fewer medical services than comprehensive coverage.
Proponents of these plans say they allow insurers to offer consumers lower monthly premiums because they’re not required to cover as many services. At the same time, the plans are able to reject people with preexisting conditions or charge them more. While Trump was in office, enrollment in short-term plans spiked.

The U.S. Capitol building in Washington, D.C., Oct. 4, 2023.
Yasin Ozturk | Anadolu Agency | Getty Images

“The previous Trump administration and many in the GOP have called for expanding the marketing and sale of short-term plans and other insurance products that do not have to satisfy the ACA’s pre-existing condition standards and other consumer protections,” said Georgetown University’s Corlette.
She said that consumers can be attracted to the plans for their low costs, but often learn too late how thin the coverage is.

Drug prices

The Trump administration’s stance on drug pricing is murkier, health experts said.
The Inflation Reduction Act, which President Joe Biden signed into law in 2022, introduced many drug price reforms.
Trump has vowed to roll back parts of the law, which also contains many climate-related provisions and tax breaks toward which he is hostile.

It’s unclear if lawmakers would keep the drug policies intact, experts said. Trump signed executive orders in 2020 aimed at lowering costs for prescription medications, for example.
“It’s not at all clear Trump will be a friend of the pharma industry,” Sparer said.
For example, the Inflation Reduction Act gave the federal government — for the first time — the authority to negotiate prices with pharmaceutical companies over some drugs covered by Medicare.
That provision is slated to kick in for 10 drugs — some of Medicare’s “most costly and most used” medications, treating a variety of ailments like heart disease, diabetes, arthritis and cancer — in 2026, according to the Centers for Medicare & Medicaid Services.

The measure will save patients $1.5 billion in out-of-pocket costs in 2026, CMS estimates. The federal government would expand the list of medications in ensuing years.
The Inflation Reduction Act also capped Medicare copays for insulin at $35 a month. They were previously uncapped. The average Medicare Part D insulin user had paid $54 out of pocket a month per insulin prescription in 2020, according to KFF.
The law also capped out-of-pocket costs at $2,000 a year for prescription drugs covered by Medicare, starting in 2025. There was previously no cap.
About 1.4 million Medicare Part D enrollees paid more than $2,000 out of pocket for medications in 2020, KFF found. Those costs averaged $3,355 a person.

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The number of Americans age 60 and older who lose $100,000 or more to fraud each year has more than tripled since 2020, according to the Federal Trade Commission.
Older adults most commonly lose such large sums of money to investment scams like those involving cryptocurrency, as well as romance and imposter scams, the FTC said.
There are three big red flags for consumers to know: social isolation, a sense or urgency and unusual payment methods, experts said.

Karl-Josef Hildenbrand/Picture Alliance via Getty Images

The number of older Americans who report losing more than $100,000 to fraud in a given year has more than tripled since 2020, according to the Federal Trade Commission, a trend that experts say represents a grave and growing threat to older adults’ financial security.
In 2023, about 4,600 adults age 60 and older reported being defrauded of a six-figure sum, according to a report the FTC issued in October. That’s up from about 1,300 in 2020.

Such thefts can be especially devastating to older adults, who have less opportunity to earn back what they’ve lost, greatly impacting their quality of life in old age, experts said.

“It’s life altering,” said John Breyault, vice president of public policy, telecommunications and fraud at the National Consumers League, a consumer advocacy group.
Aside from the financial blow, victims also bear the emotional “trauma of knowing they have to live rest of their life in poverty,” Breyault said.

Common scams targeting older Americans

Consumers overall lost $10 billion to scams in 2023, a record high, according to the FTC.
The figure is also $1 billion more than the fraud loss reported in 2022, despite the number of fraud reports being roughly the same, at about 2.6 million, the FTC said.

“Scammers are really getting more sophisticated, better at what they do and the technology they’re using seems to allow them to target victims with ever more precision,” Breyault said.
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Adults age 60 and older reported losing more than $1.9 billion to fraud last year, up from $1.6 billion in 2022, the FTC said.
The true scope of losses by older adults was likely significantly higher — around $62 billion in 2023 — after accounting for underreporting, the FTC said. Many Americans may not report these crimes to the police or other sources partly due to embarrassment about having been duped or because they assumed nothing could be done, according to a 2023 Gallup News poll.
Older adults were 60% more likely than younger ones to report losses exceeding $100,000 last year, according to the FTC. Criminals commonly stole such vast sums from older adults via romance scams, investment frauds and imposter scams, the FTC said.

Imposter scams often involved fraudsters impersonating friends and family or agents from technology firms like Microsoft, sweepstakes and lottery companies like Publishers Clearing House, institutions like banks and government agencies like the Social Security Administration, the FTC said.
The Federal Bureau of Investigation has also detailed a stark increase in internet crime defrauding older Americans in recent years. The average victim in that age group lost more than $34,000 in 2023, the FBI reported.
Investment scams, especially those involving fake cryptocurrency investment opportunities, accounted for the largest reported losses among all older adults in 2023: $538 million, up 34% from 2022, the FTC said.

3 common red flags of a scam

“We’d all like to believe we could spot an online scam a mile away,” the National Council of Aging wrote this year. “But the truth is that con artists and cybercriminals are getting craftier and more sophisticated by the day.”
That said, would-be victims can protect themselves by recognizing three common tactics used by scammers, Breyault said:
1. Sense of urgency
Criminals often try to create a “heightened state of emotional urgency,” Breyault said.
This psychological tactic pushes victims to act impulsively, rushing them into making decisions or providing sensitive information without thinking, according to NCOA.
“Fraudsters may say an offer is good for a limited time only, a product is about to run out, or that you must make a payment immediately to prevent negative consequences,” NCOA said.
2. Social isolation
Scammers try to prevent consumers from talking to a third party. For example, they might say, “Don’t tell anyone about this. Don’t go to the cops. This is an investment no one knows about so don’t tell anyone about this. It’s our little secret,” Breyault said.
“If you’re unsure about the person you’re talking to or what you’re being told, ask a friend or family member for advice before taking any further steps,” NCOA said. “Sending a quick screenshot of a text, or simply walking through the scenario with someone you trust, can often help you see things more clearly.”
3. Unusual ways to pay
Criminals often ask victims to make a payment by buying gift cards, sending a wire transfer, going to a bitcoin ATM, or sending money through a peer-to-peer transaction on a platform like Zelle or Venmo, for example, Breyault said.
Consumers generally don’t have recourse to be refunded money in such circumstances, he said.
While there are “legitimate” uses for such payment methods, they often appear “unusual” in the context of a fraud: For example, why would a loved one who claims to need cash ask you to send money via a bitcoin ATM? Breyault said.
“When you do buy products online, make sure you only use a payment option that offers reimbursement for authorized payments (such as most major credit cards),” NCOA wrote. “Using a form of direct payment, such as a payment app, is essentially the same as sending cash. You may not be able to receive a refund.” More

ETF Strategist

ETF Street
ETF Strategist

Millennials and Gen Zers are the two most likely generational groups to have exchange-traded funds in their retirement accounts, at 81% and 75%, respectively, according to a report by Nasdaq.
“The continued growth of retail investors investing in ETFs is certainly not going away,” said Alison Hennessy, head of exchange traded product listings at Nasdaq.
Here are two things investors starting out should keep in mind.

Oscar Wong | Moment | Getty Images

John Healy began investing in exchange-traded funds when he was about 18 years old.
Back then, Healy said he worked as a security guard in a beach club earning an hourly wage of “$12 a pop” and relied on message boards on the internet to figure out what to buy or sell.

Today, Healy is a 25-year-old law clerk in New York City with a financial planner guiding his investments.
What hasn’t changed? His interest in baskets of securities designed to closely track an index.
“ETFs are still a vehicle for me to get action in the stock market,” Healy said.
He’s not alone. Young investors are tapping into exchange-traded funds at high rates.

More from ETF Strategist:

Here’s a look at other stories offering insight on ETFs for investors.

According to an annual report by Nasdaq, millennials and Gen Zers are the two most likely generational groups to have ETF holdings in their retirement accounts, at 81% and 75%, respectively. 

The survey polled 2,000 U.S. retail ETF investors in March. The report defines millennials as those born between 1981 and 1996, and Gen Z as those from 1997 to 2021.
The trend has been growing for the past three years, or since Nasdaq has been conducting the report, said Alison Hennessy, head of exchange-traded product listings at Nasdaq.
“The continued growth of retail investors investing in ETFs is certainly not going away,” she said. 

Why ETFs have gained popularity

ETFs listed in the U.S. hit a record-breaking $900 billion in inflows and about 600 ETF launches this year, according to ETF.com.
The investment vehicle has been growing in popularity among investors in general in part due to the lower associated costs, tax benefits and accessibility compared to mutual funds, experts say.
“What really attracts investors to the ETF structure in general is, they’re easier to buy and sell directly on a brokerage account,” Hennessy said. 
The same can’t be said for a mutual fund, experts say. 
If you’re an active investor, you have the ability to make intra-day trades with an ETF, whereas a mutual fund won’t actually process your buy or sell order until after market close, explained Tommy Lucas, a certified financial planner and enrolled agent at Moisand Fitzgerald Tamayo in Orlando, Florida.

Meanwhile, associated fees with ETFs tend to be much lower compared to mutual funds and other index funds.
Index ETFs have a 0.44% average annual fee, half the 0.88% fee for index mutual funds, according to Morningstar. Similarly, active ETFs carry a 0.63% average fee, versus 1.02% for actively managed mutual funds, Morningstar data shows.
And ETFs do not typically trigger capital gains taxes, Lucas said.
“That’s what makes them so tax efficient,” he said. “For younger investors, you know really what you’re getting and there’s no surprises.” 
When Healy began investing as a teenager, he was mostly driven to do so by his parents, who instilled in him the value of saving and investing his money, Healy said.
“Now I’m living on my own, and I have my own personal finances to worry about,” he said.
Gen Z investors who are starting out need to keep in mind two elements, according to experts.
1. Research what your exposure could be
There are more than 3,800 U.S.- listed ETFs available in the market now, and a perk to consider is their transparency, said Hennessy. 
“The vast majority of ETFs are disclosing their holdings,” or what’s held in their portfolio, she said. 
To find out what sectors, companies, industries or risks you may be exposed to, look up the information on the ETF issuer’s website, Hennessy said.

For example, say a fund’s name includes the term “international.” You may want to know what countries or classifications the fund focuses on. 
“You have the ability to really drill down and look at the exact holdings in the fund,” Hennessy said.
2. Take note of ‘wash sale rules’
Be mindful about so-called “wash sale rules,” Lucas said. 
The IRS guidelines essentially blocks you from writing off a loss if you repurchase the same or an identical security within a 30-day window before or after the sale, he explained. 
If you sell an ETF at a loss, and you buy it back or a similar one within that time period, you cannot get the benefit of the tax loss. 
It can be easier to get around wash sale rules with an ETF compared to mutual funds, but you need to be careful how you handle it, experts say.
“That loss that you would of taken just gets added to your cost basis to potentially take later,” Lucas said. More

About 49% of employed travelers are “laptop luggers,” or those who plan to work at some point on their holiday vacation, according to the Deloitte holiday travel survey.
Travelers are making other workarounds to be able to go on trips, such as driving instead of flying or cutting back on other expenses, experts said.

Baona | E+ | Getty Images

Americans are determined to travel this holiday season — and certain workarounds are helping them take those trips. 
The ability to work remotely is a major leg up when planning out itineraries.

About 49% of employed travelers are “laptop luggers” — those who plan to work at some point on their holiday vacation — up from 34% last year, according to the Deloitte holiday travel survey.
This flexibility allows workers to take trips they might not otherwise, or stretch their trips for longer, according to the survey.
While there are more laptop luggers across most age groups and income levels, Gen Zers, which Deloitte defines as those born between 1997 and 2012, and high earners make up the highest shares, at 58% and 52%, respectively, according to the survey.
Deloitte polled 4,074 American adults in September. Of that group, 2,005 were identified as holiday travelers.
The change in laptop luggers is “a pretty high jump. It’s almost across all income levels and age groups,” said Eileen Crowley, vice chair and U.S. transportation, hospitality and services attest leader at Deloitte. 

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Since the pandemic, remote work has become a priority for job seekers, said Julia Pollak, chief economist at ZipRecruiter.
In the third quarter, 51% of surveyed job seekers said the ability to work from wherever they want is a top reason for remote jobs, up from 40.8% in the first quarter of 2022, according to ZipRecruiter data.
“The value to U.S. workers of being able to work from anywhere has clearly grown over the course of the great remote work experiment,” she said.
In addition to working during their trip, travelers are coming up with other workarounds such as driving instead of flying or cutting back on other expenses, experts said.
“People are willing to cut corners to save money, but they don’t want to skip the trip entirely,” said Ted Rossman, an industry analyst at Bankrate.

Who’s spending on holiday travel this year 

High earners are driving holiday travel and spending trends this year, according to experts.
When it comes to holiday travel, 52% of shoppers with incomes of $100,000 or more said they can “easily afford” that expense, according to Morning Consult, a survey research firm. That is the highest share compared with mid- to low-income groups. 

Bloomberg | Bloomberg | Getty Images

“Higher-income consumers are not nearly as price sensitive,” Stacy Francis, president and CEO of Francis Financial, a wealth management, financial planning and divorce financial planning firm in New York City, recently told CNBC.
“They’re not nearly as budget conscious as people in lower-wage-earning brackets,” said Francis, a member of CNBC’s Financial Advisor Council.
Among generational groups, millennials, or those born between 1980 and 1996, have the highest budgets and longest travel planned. According to the report, millennials plan to take about 2.6 trips over the course of the holiday season and spend on average $3,927, per the Deloitte survey.

What’s making holiday travel possible this year

More than 4 in 5 holiday travelers, 83%, are finding ways to save money this holiday season, such as driving instead of flying, according to Bankrate.
“Most of these people are still traveling, they’re just doing so differently to cut some costs,” Rossman said.
Separately, about 50% of respondents are cutting back on other expenses and 49% are picking up discounts and deals, according to the 2024 Holiday Travel Outlook by Hopper, a travel site. 
Among other strategies, 22% plan to travel on off-peak days and 21% are using credit card points or miles to cover some of the cost, the Hopper report found.

If you do plan to pull out your laptop and work during a holiday vacation, make sure to review your company’s rules around remote work, said Pollak. Some companies require employees to work from their home, from within the company’s home state or within the U.S. unless otherwise authorized.
“You risk getting your access shut off, being punished or even having your employment terminated if you try to work from elsewhere,” Pollak said.
Touch base with your manager or director about the idea as well, she said: “Some managers just care that you’re getting the job done and aren’t concerned how.”
Finally, you want to make sure the location you plan to work from has a strong electric grid or service and Wi-Fi is reliable.
“If you’re on the hook for work, make sure you are somewhere where you can get it done,” Pollak said.
Spending on experiences such as travel and concerts spiked after pandemic-era lockdowns and restrictions because of pent-up demand from Americans, experts say.
Yet even after several years, travel “seems to be something that’s sticking,” said Deloitte’s Crowley: “People are placing value and making room in their budgets for travel.” More

Roughly 1 in 3 adults ages 18 to 34 in the U.S. are living with at least one of their parents.
More than half of Gen Z adults say they don’t make enough money to live the life they want due to the high cost of living, according to a 2024 survey from Bank of America.
More than a third, 36%, of Americans said in a 2022 survey that more young adults living with their parents is bad for society.

Approximately 1 in 3 U.S. adults ages 18 to 34 live in their parents’ home, according to U.S. Census Bureau data.
The pandemic caused more young adults to return home or remain living with their parents into their late 20s and 30s, but aside from that spike, the numbers have remained fairly consistent in recent years.

Pre-pandemic, the most recent surge in the share of 18- to 34-year-olds living with their parents occurred between 2005 and 2015, according to data from the Census Bureau.
“Those were the times coming [during] the Great Recession and coming out of the Great Recession, and there were a lot of media narratives at the time about millennials eating too much avocado toast to live on their own,” said Joanne Hsu, a research associate professor at the University of Michigan who co-authored a 2015 study on “boomerang” kids for the Federal Reserve.
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“What we found was that part of the reason we see this escalation of young adults not leaving the nest or returning to the nest is this idea that it was harder and harder for them to weather shocks,” Hsu said.
Economic shocks are significant and unexpected events that disrupt financial stability and markets, which then affect households’ income, employment and debt levels. The 2008 financial crisis, the Great Recession and the pandemic are all examples of economic shocks.

More than half of Gen Z adults say they don’t make enough money to live the life they want due to the high cost of living, according to a 2024 survey from Bank of America. A significant number of millennials and Gen Z adults lack emergency savings.

‘Why rent and give my money to someone else?’

Victoria Franklin, left, has lived with her mother, Terilyn Franklin, right, in Oceanport, New Jersey, since she graduated from college in 2019.
Natalie Rice | CNBC

Victoria Franklin, 27, moved back to her mom’s house in the summer of 2019 after graduating from college to search for a job in business administration.
“I ended up bartending and waitressing until October [of 2019], where I got my first offer,” Franklin said. “So it did take a little bit longer than I expected.”
She found a job in her field in New York City, which required a two-hour commute from her mother’s home on the Jersey Shore.
“I thought, you know, in six months or so, I’ll move into the city, be closer to the job,” Franklin said. “And the pandemic threw a wrench in those plans.”
Franklin decided to continue living at her mom’s house after switching to a fully remote job in fall 2023.
“My mentality is why rent and give my money to someone else when I can start to own?” Franklin said.
Franklin said she’s saving between 40% and 50% of her income, with “a big chunk” allocated toward a down payment on a house.

While living with parents can provide personal financial benefits, experts say this trend can negatively affect the economy.
“We do also have a situation that what is really good for an individual person or an individual family is not necessarily good for the entire macro economy,” Hsu said. “One of the big boosts to consumer spending is when people form households.”
The Federal Reserve estimated in a 2019 paper that young adults who move out of their parents’ home would spend about $13,000 more per year on things such as housing, food and transportation.
Watch the video above to learn more about why the trend of young adults living with their parents is continuing and what it means for the economy. More

Dominika Zarzycka | Nurphoto | Getty Images

The postelection rally has hit some turbulence in recent days, giving investors a bumpy ride in the near term. However, these choppy markets can harbor plenty of opportunities — for those who know where to look.
Investors shouldn’t focus too much on short-term volatility as they position their portfolios. Recommendations from Wall Street can help them make informed decisions on stocks and seek solid long-term returns.

Top-rated analysts pay attention to multiple aspects when selecting stocks of companies with solid fundamentals and strong execution.
Bearing that in mind, here are three stocks favored by the Street’s top pros, according to TipRanks, a platform that ranks analysts based on their past performance.
Amazon
We start this week with e-commerce and cloud computing giant Amazon (AMZN). The company impressed investors with third-quarter beats on the top and bottom lines, fueled by strength in its cloud and advertising businesses.
In reaction to the solid Q3 print, Monness analyst Brian White reaffirmed a buy rating on Amazon stock and boosted the price target to $245 from $225. While the analyst acknowledged regulatory pressures, he remains bullish on AMZN as he thinks it will continue to “capitalize on the cloud, expand its digital ad business, innovate with AI, realize efficiencies from a regional fulfillment network, and leverage a leaner cost structure.”
White highlighted that Amazon’s revenue growth accelerated to 17%, with significant profit upside. Notably, Q3 operating profit exceeded his estimates, driving record operating margin at 11%. He also noted the sharp sequential rise in operating margins at Amazon Web Services, or AWS, and International business. Based on the solid results, the analyst raised his revenue and earnings per share estimates for 2024 and 2025.

White also pointed out Amazon’s focus on reducing costs via improved efficiencies and new initiatives such as regionalizing its U.S. fulfillment network. The company now aims to regionalize its U.S. inbound network and leverage advanced robotic innovations across its fulfillment network.
Overall, White sees lucrative growth potential for Amazon across e-commerce, AWS, digital media, advertising, Alexa, robotics, artificial intelligence and other avenues.
White ranks No. 38 among more than 9,100 analysts tracked by TipRanks. His ratings have been profitable 69% of the time, delivering an average return of 20.4%. See Amazon Stock Charts on TipRanks.
Uber Technologies
We now move to this week’s second pick, ride-sharing platform Uber Technologies (UBER). The company recently delivered better-than-expected third-quarter revenue and earnings. However, it missed Wall Street’s expectations for Q3 gross bookings.
Nonetheless, Evercore analyst Mark Mahaney remains bullish on UBER stock. He reiterated a buy rating with a price target of $120, following a series of investor meetings with management.
Mahaney thinks UBER will gain from autonomous vehicle rollouts, given its position as the largest ride-sharing demand aggregator. He added that better availability of robotaxis on the Uber platform will drive improved customer service through shorter wait times, broader ride selection and possibly lower prices.
“UBER believes that the economics it can offer AV owners can be compelling, allowing them to generate very high margins and better fleet utilization than they can develop on their own,” said Mahaney.
Based on his discussions with management, Mahaney explained that the deceleration reflecting in Uber’s Mobility bookings growth in Q3 and the estimate for Q4 is due to the negative demand elasticity caused by the surge in insurance costs and a slowdown in “party hour” bookings, or those that take place during evenings and weekends. He thinks this deceleration will moderate, given the slowdown in the rate of insurance cost increases, growth prospects of new products such as Uber for Teens and Uber for Business as well as potential improvement in consumer discretionary demand.
Finally, Mahaney remains confident about Uber’s ability to consistently boost its earnings before interest, taxes, depreciation and amortization and free cash flow margins over the next three to five years, supported by multiple measures to drive cost efficiencies.
Mahaney ranks No. 34 among more than 9,100 analysts tracked by TipRanks. His ratings have been successful 64% of the time, delivering an average return of 28.9%. See Uber Technologies Stock Options on TipRanks.
Block
Finally, let’s look at fintech giant Block (SQ). The company, formerly known as Square, narrowly beat analysts’ earnings expectations but missed revenue estimates for the third quarter.
Following the results, BTIG analyst Andrew Harte discussed the positives and negatives of Block’s Q3 performance. He noted that the company’s initial FY25 gross profit growth guidance of at least 15% almost met the consensus estimate at 14.9%. However, Q4 gross profit outlook of 14% fell short of expectations due to the shift in the timing of certain expected benefits from Q4 to next year.
The analyst thinks CEO Jack Dorsey did a good job in highlighting the company’s lending products and explaining how they are fueling the growth of Block’s ecosystem. Despite the soft Q4 guidance and management’s commentary indicating that investors will have to wait until the second half of 2025 for growth acceleration, SQ stock continues to be a top pick for BTIG.
Harte cited several reasons for his bullish stance, including Block’s track record of surpassing guidance and the stock’s attractive valuation at 12-times FY25 EV (enterprise value)/EBITDA. He added that the company is in the early days of fueling increased product adoption in both its Cash and Square ecosystems, indicating continued growth potential ahead.
“Block is just beginning to integrate its Cash App and Square ecosystems, which could create meaningful flywheel effects over time,” said Harte while reiterating a buy rating on the stock with a price target of $90.
Harte ranks No. 152 among more than 9,100 analysts tracked by TipRanks. His ratings have been profitable 75% of the time, delivering an average return of 63.8%. See Block Hedge Funds Activity on TipRanks. More

Black Friday to Cyber Monday is one of the busiest shopping periods of the year as consumers try to maximize the weekend’s deals.
Retailers tempt shoppers with incentives and discounts. But these are not necessarily the best prices of the year, according to shopping experts.
Here’s what not to buy on Black Friday and how to snag the lowest prices overall.

A customer visits Macy’s Herald Square store in New York City during early morning Black Friday sales, Nov. 24, 2023.
Kena Betancur | Getty Images

Typically, the five days beginning Thanksgiving Day and ending Cyber Monday are some of the busiest shopping days of the year.
This year, the number of people shopping in stores and online during that period could hit a new record, according to the National Retail Federation’s annual survey.

But consumers trying to make the most of the Black Friday sales may not be getting the best prices of the season.
According to WalletHub’s 2023 Best Things to Buy on Black Friday report, 35% of items at major retailers offered no savings compared with their pre-Black Friday prices. The site compared Black Friday advertisements against prices on Amazon earlier that fall. 
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“Some Black Friday deals are misleading as retailers may inflate original prices to make a deal look like a better value,” said consumer savings expert Andrea Woroch.
This year, in particular, some of the deals are already as good as they are going to get.

“Those holidays have gotten a little watered down because retailers want to maximize the selling days,” said Adam Davis, managing director at Wells Fargo Retail Finance.
“Compounding the importance of stretching the holiday season, retailers are facing a shorter selling season between Thanksgiving and Christmas — almost a week shorter in 2024,” he said. “That will force the retailer’s hand to be pretty promotional in November.”

Concerns about shipping

There’s another good reason to shop early.
Consumers are increasingly concerned that their online orders may not arrive in time for the holiday — and rightfully so.
DHL Supply Chain’s new CEO for North America, Patrick Kelleher, recently told CNBC that items may arrive later than in years past, especially those ordered around big dates such as Black Friday and Cyber Monday.

In a period of such high volume, third-party shippers are particularly strained, according to Lauren Beitelspacher, a professor of marketing at Babson College. An ongoing labor shortage also means that some companies simply cannot hire enough workers to sort, transport and deliver packages on time.
“We are very spoiled; we got to the point where we think of something we want and it magically appears,” Beitelspacher said. But at the same time, “we’ve learned how fragile the supply chain is.”
When there are more packages to ship, shipping times increase, which can also boost the chance they may get damaged, lost or stolen en route — not to mention the risk of “porch piracy” once an item is delivered.

What discounts to expect on Black Friday

“You are easily going to see 20% to 30% off,” Davis said — but “not necessarily storewide.”
Depending on the retailer, some markdowns could be up to 50%, according to Beitelspacher. However, premium brands — including high-end activewear companies such as Nike, Alo or Lululemon — likely will not discount more than 20% or 30%, she said. “It’s a fine balance with maintaining the premium brand integrity and offering promotions.”
As in previous years, these companies are aware of how price sensitive consumers have become.
“The holidays are a time people want to treat themselves, but they also want to make their dollar last longer,” Beitelspacher said.
To that end, retailers will also try to lure shoppers to spend with incentives, such as a free gift card with a minimum purchase, Woroch said. “Many stores will also offer bonus rewards when you spend a certain amount on Black Friday.”

What not to buy on Black Friday

Typically, Black Friday is a great time to find rock-bottom prices on fall clothing — including flannels, denim, coats and accessories — as well as televisions and consumer electronics. 
But hold off on beauty and footwear, which are typically better buys on Cyber Monday, Woroch said.
For those planning a trip, “Travel Tuesday” is a good time to snag discounts on airfares, cruises and tour packages, with many hotels offering 20% to 30% off best available rates. Travelers can check out Travel Tuesday deals from 2023 to get an idea of what to expect this year.

With toys, it could pay to hold out until the last two weeks of December, and holiday decorations are cheaper the last few days before Christmas or right after, according to Woroch.
Exercise equipment, linens and bedding tend to be marked down more during January’s “white sales,” she said, and furniture and mattress deals are often better over other holiday weekends throughout the year, such as Presidents’ Day, Memorial Day and Labor Day weekends.

How to get even lower prices

Woroch recommends using a price-tracking browser extension such as Honey or Camelizer to keep an eye on price changes and alert you when a price drops. Honey will also scan for applicable coupon codes.
If you are shopping in person, try the ShopSavvy app for price comparisons. If an item costs less at another store or popular site, often the retailer will match the price, Woroch said.
Further, stack discounts: Combining credit card rewards with coupon codes and a cash-back site such as CouponCabin.com will earn money back on those purchases. Then, take pictures of your receipts using the Fetch app and get points that can be redeemed for gift cards at retailers such as Walmart, Target and Amazon.
Finally, pay attention to price adjustment policies. “If an item you buy over Black Friday goes on sale for less shortly after, you may be able to request a price adjustment,” Woroch said. Some retailers such as Target have season-long policies that may apply to purchases made up until Dec. 25. More