ARIES Today is the day to enjoy and entertain with some loss Finance: Expect expenditure for entertainment/children/education/medical bill/commission Career: People in education/ sports/bank /govt / politics/medical will get success Domestic & love life: Dispute with mother/children or their ill-health is indicated Health: Some people may suffer from back pain/ eye problems/ BP Lucky no: 6 Lucky colour: pink TAURUS Today is the day to travel/study/ enjoy Finance: Expect expenditure for property /Vehicle/travel/education Career: People in fields like tourism/ hospital/politics/journalism/politics will be benefited Domestic & love life: Family party /picnic is indicated. Health: Some people may suffer from ear problems/back pain/heart problems Lucky no: 8 Lucky colour: blue GEMINI Today is the day to travel/communication /do house hold activities Finance: Expect expenditure for health /travel/ communication Career: Doctors/politicians/hotels/govt /bank related people will get benefited Domestic & love life: Ill health of/dispute with father /brother is indicated Health: Some people may suffer from eye problems/ heart problem Lucky no: 5 Lucky colour: Green CANCER Today is the day to enjoy /earn Finance: Expect expenditure for self/ children/ family needs. Career: People in fields like medical/share traders/politicians will be benefited Domestic & love life: You can have good family time today. Health: Some people may suffer from tooth ache / eye problems Lucky no: 6 Lucky colour: pink LEO Today is the day to study/ invest /travel / expenditure. Finance: Expect expenditure on travel / medical bills /education/vehicle Career: People in fields of tourism / medical/politics will be benefited Domestic & love life: You may go for long drive with your family. Health: Some people may suffer from blood pressure/ back pain/eye problem. Lucky no: 1 Lucky colour: Orange VIRGO Today is the day to travel / expenditure/ invest Finance: Expect expenditure on travel / medical bills /father Career: People in fields of tourism / medical/ politics will be benefited Domestic & love life: You may go for long drive with your family. Health: Some people may suffer from blood pressure/ back pain/eye problem. Lucky no: 5 Lucky colour: Green LIBRA Today, you may focus on your job/business/career Finance: Expect expenditure on business / job/ career Career: People in fields like banking / Hotel /medical /politics will be benefited. Domestic & love life: Good family time is indicated. Health: Some people may suffer from eye / Knee pain. Lucky no: 5 Lucky colour: green SCORPIO Today you will be successful in commercial and family life as well. Finance: Expect expenditure for study/travel/self/business growth. Career: People in fields like politics /govt./education/travel/medical will be benefited. Domestic & love life: You will take efforts to balance family time and office time. Health: Some people may suffer from knee pain /heart problems Lucky no: 2 Lucky colour: silver SAGITTARIUS Today is the day to face problems and finding their solutions. Finance: Expect expenditure for business/health/ education/ travel Career: People from occult/ insurance/research/ maintenance/ tourism/ medical will be benefited. Domestic & love life: ill health of / dispute with family members is indicated Health: Today some people may suffer from heart / BP /injury /fever Lucky no: 1 Lucky colour: Orange CAPRICORN Today is the day to face problems in career and family life Finance: Expect expenditure for spouse /medical / premiums Career: People in fields like insurance/ bank/finance/ medical/occult will be benefited. Domestic & love life: Married life may be disturbed. Health: Some people may suffer from lumber pain / heart/ eye problems Lucky no: 6 Lucky colour: pink AQUARIUS Today you will be busy on all fronts like job and family Finance: Expect expenditure for business/ spouse/health Career: People from Banks/ finance/ medical / politics will be benefited Domestic & love life: You may find it difficult to balance family life and career Health: Some people may suffer from stomach pain /eye/ Lumber pain. Lucky no: 6 Lucky colour: Pink PISCES Today is the day to enjoy/travel/study/earn Finance: Expect expenditure for children/study/job Career: Politicians/bankers/artists/ entertainers/ sportsmen/doctors will be benefited Domestic & love life: Day to solve problems in relationships. Health: Some people may suffer from back pain / eye /heart problems Lucky no: 9 Lucky colour: RedAs the baton of wealth is inherited by younger generations, the heirs of wealthy families are taking a more active role in the impact they seek to create in the world by using the traditionally monolithic family office for more innovative, value-based investments. The great wealth transfer is in full swing as over $100 trillion is projected to be passed down from the older generations to their heirs through 2048 in the United States, according to a December report by research and consulting firm Cerulli Associates. > Philadelphia news 24/7: Watch NBC10 free wherever you are "There's a big intergenerational wealth transfer, but the preferences of the baby boomers are starkly different from the preferences of ... millennials," Nirbhay Handa, CEO of global migration platform Multipolitan, told CNBC Make It . "Now you have this younger generation which really believes that profit and progress should go hand in hand," Handa said. A sea change Millennials (ages 27 to 42) and Generation X (ages 43 to 58) stand to be the biggest beneficiaries of the wealth transfer, and are expected to inherit about $85 trillion between 2024 to 2048, according to the report. Generation Z and younger generations (ages 27 and younger) are expected to inherit over $15 trillion. Notably, the majority of wealth transfer will come from high-net-worth (HNW) and ultra-high-net-worth (UNHW) families, who together make up around 2% of all households, according to the report. These families are expected to contribute to over 50% of the transfers, or about $62 trillion. Compared to the baby boomers and older generations, "[younger generations] are less motivated by money, if I generalize, and much more [motivated by] contributing to society," said Martin Roll, an INSEAD Distinguished Fellow and family business and family office expert for McKinsey and Company. "They look out the front window [and ask]: 'What's ahead here? What are the big questions of our time?'" Gen X and millennials are concerned with societal impact — topics like climate change, diversity, health and wellness and hedging against geopolitical conflict are top of mind, said Handa. "I think sustainability and the whole ESG narrative is extremely robust [among younger generations]," the Multipolitan CEO added. "So they may not be interested in investing in fossil fuels or oil and gas, but they're very interested in investing in a company like Oatly ... or Beyond Meat," said Handa. This shift in investing attitudes by younger generations came out of necessity, said Handa. "People are seeing wars, [they're] seeing the impact of climate change... there's a lack of drinking water in many parts of the world," he explained. "As a result of that, this generation has become more resolute on focusing on things which are aligned with their personal values." "The challenges are real ... yes, we talked about cliamate in the 60s and 70s, you'll find them in the American newspapers then, but it was just a little more abstract. Now, it's real. Storms are coming, flooding is happening, hurricanes are more often... it's proof [and] they see it," said Roll. 'Centers of innovation' Another major shift can be seen in how some family offices are run. "The whole idea of family offices is less rigid than it used to be... Family Offices have become centers of innovation," said Handa. Having grown up in the age of digitization, the younger generations of wealthy families are investing more into technology and startups. They seek to discover and invest in technologies that can be a "lever for impact," said Roll. "For example, investing in climate tech, edtech, food treatment, water treatment, natural resources, renewable energy." In addition, younger generations are more active in how they invest through their family offices. "30 years ago, family offices were primarily the equity stakes from the company that the family owns through the family office, and would be tied up in real estate, some broader public equities and [overall, it would be a] passive portfolio," said Roll. Today, however, family offices are increasingly making direct investments into private companies, which is not traditional, Roll added. "The parents used to be what I call monolithic — they ran one business, but the younger people coming in may not be interested in chemicals, which is the main business, therefore they start to diversify [through] the family office," said Roll. Why is the great wealth transfer happening now? Although it is true that wealth has always changed hands, the significance of the Great Wealth Transfer of our generation can be explained by looking back at the third wave of the industrial revolution. "It was really that industrialization of particularly, the Western world, that took place in the 50s and 60s, ultimately, with the rise of America after World War Two, and Europe — a lot of wealth was created," said Roll. Out of this post-war "boom," there were about 40 years of "outstanding economic activity," which led to the creation of new industries, big businesses and ultimately, the rise of the middle class in the U.S. and Europe, said Roll. "Therefore, jobs were created ... Everyone got a car, people got a house ... so you got a lot of major shifts that enabled that kind of wealth creation," Roll told CNBC Make It. It was this senior generation that really built "the world and the wealth after World War Two," and "that wealth, including business stakes, is now getting passed on to Gen X, but also to, of course, younger people," said Roll. Bridging the old with the new Overall, as trillions of dollars change hands, what does this mean for the world? "This massive shift in money means the way things were done in the past is not necessarily how things will be done in the future," said Handa. "This era is about vitality and vibrancy and engagement. It's about democratization, it's about aspiration, it's about accessibility," Handa said. "Investment preferences are changing and legacy institutions need to adapt to the new world." Ultimately, as the younger generations inherit the wealth, Roll said: "I think you will see the money [doing] good work. It will be reinvested in the economy ... in technology, and I think in some of the big challenges of our time: climate, gender issues, minorities, villages, poor people and basic [education]." Want to make extra money outside of your day job? Sign up for CNBC's online course How to Earn Passive Income Online to learn about common passive income streams, tips to get started and real-life success stories. Plus, sign up for CNBC Make It's newsletter to get tips and tricks for success at work, with money and in life.
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This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here . 24/7 San Diego news stream: Watch NBC 7 free wherever you are Inflation in October ticked up The personal consumption expenditures price index for October ticked up 0.2% on the month and 2.3% on a 12-month basis, according to the U.S. Commerce Department on Wednesday. Core inflation rose 0.3% on the month and showed an annual reading of 2.8%, higher than September's 2.7%. All figures were in with Dow Jones consensus estimates. U.S. markets break rally U.S. stock markets fell on Wednesday , with the S&P 500 snapping its seven-day winning streak. Bond prices rose as Treasury yields slipped . Asia-Pacific stocks mostly rose on Thursday . Australia's S&P/ASX 200 climbed 0.45% to close at a new record. South Korea's blue-chip Kospi index was flat after the country's central bank lowered rates. South Korea unexpectedly cuts rates On Thursday, the Bank of Korea cut its benchmark interest rate by 25 basis points to 3%. A Reuters poll of economists had expected the BOK to keep rates unchanged. South Korea reported last month disappointing third-quarter economic growth of just 0.1% from a quarter earlier. The BOK on Thursday lowered its 2024 gross domestic product outlook to 2.2% from 2.4%. Offshore yuan might drop to lowest level China's offshore yuan is projected to fall to an average of 7.51 against the dollar by the end of 2025, according to CNBC's calculation of forecasts from 13 institutions. That would be the offshore yuan's lowest level on record , going by LSEG data dating back to 2004. Tariff threats and lower interest rates in China are putting pressure on the yuan. [PRO] Potential beneficiaries of tariffs U.S. President-elect Donald Trump's planned tariffs are worrying both investors and companies because higher import fees will raise costs. That said, those tariffs could benefit five technology companies that specialize in helping companies optimize supply chains. Money Report OPEC+ postpones meeting to decide oil production strategy to Dec. 5, delegates say From AI to young new artists, London wants to attract a new generation of art buyers In preparation for a heavy meal of turkey and stuffing and pumpkin pie, investors in the U.S. kept their trading appetite light. The SPDR S&P 500 , an exchange-traded fund that tracks the broad-based index, traded around 22.6% fewer shares than its 30-day average. So even though the S&P fell 0.38% to break its seven-day winning streak and the Dow Jones Industrial Average slid 0.31%, those moves don't seem to be a sell-off sparked by mass panic. Instead, traders appear to be giving thanks to the year's rally in Big Tech stocks by taking profit on them, which caused the Nasdaq Composite to drop a relatively steeper 0.6%. The fact that inflation in the U.S., on an annualized basis, ticked up by 0.1 percentage point from the previous month didn't seem to faze investors much either, probably because it wasn't an unexpected increase. In fact, traders boosted their bets that the U.S. Federal Reserve will lower rates by 25 basis points at its December meeting. The market is pricing in a 68.2% chance of that happening, higher than the 55.7% of a week ago, according to the CME FedWatch tool . "Today's data shouldn't change views of the likely path for disinflation, however bumpy," said David Alcaly, lead macroeconomic strategist at Lazard Asset Management. Echoing his views, Scott Helfstein, Global X's head of investment strategy, says he thinks the Fed "can eat turkey and watch football for a day knowing that they are close to full employment with price stability." Investors can also throw themselves into the festivities. More than three-quarters of stocks in the S&P are above their 200-day moving average, suggesting a steady upward trend and a market "still solid," according to Chris Verrone, head of the technical and macro research at Strategas. That's plenty of things to be grateful for this Thanksgiving. — CNBC's Jeff Cox, Scott Schnipper, Alex Harring and Sean Conlon contributed to this report. Also on CNBC U.S. inflation edged up but investors aren’t fazed The markets are living in Trump’s world for now A new day, a new Trump policy for markets to digestPride, bragging rights and more than $115M at stake when final college playoff rankings come out
BGC's Howard W. Lutnick Nominated for U.S. Secretary of Commerce
