"Top Fund Manager's Bold Bets: AI, Beer, and China"

Matthew McLennan, co-head of the global value team at First Eagle Investments, expresses concerns about the U.S. fiscal situation and high employment, emphasizing the need for diversified and balanced investments. He manages the five-star First Eagle Global Fund SGENX and recommends investing in companies with an "incumbency advantage in industry niches that are available at the right price." McLennan's stock picks include companies involved in AI such as Meta Platforms and Oracle, as well as Latin America's leading beer maker AmBev, China's Prosus, and Exxon Mobil. Stock futures are languishing and bond yields dipped ahead of a two-day Fed meeting, while gold is higher. After hours, Alphabet, Microsoft, and AMD are set to report earnings, and the IMF lifted its global economic growth outlook.