State Street Unveils Galaxy-Managed Digital Asset ETFs
Three new actively managed funds will target the blockchain ecosystem and disruptive technologies.
Three new actively managed funds will target the blockchain ecosystem and disruptive technologies.
US stocks (^DJI,^GSPC, ^IXIC) are mixed in Tuesday's trading session as investors prepare for a rocky month ahead. Fundstrat Global Advisors managing director and global head of technical strategy Mark Newton joins Market Domination to discuss market trends and how investors should prepare for the year-end. Big Bank stocks, in particular, are under pressure after the Federal Reserve proposed new capital requirement regulations for banks that would seek easements on their capital holdings while scaling back other requirements. Newtown notes that financials (XLF) are the second-largest sector in the S&P 500 after technology (XLK), and that today's movement is "a minor pullback." He highlights that banks have been up about 10% over the last three months, and the pullback is "on the heels of really robust gains in this sector." Newton finds the broader market picture to be "pretty healthy," pointing to new all-time highs in technology, financials, healthcare (XLV), industrials (XLI), and utilities (XLU). While the tech sector is under pressure, he believes that it has "not broken down substantially enough to think that tech is broken." "We have this huge amount of contentiousness and divisiveness regarding the election. Of course, two wars overseas. A lot to get us unhappy about. Earnings, though, have been remarkably good, and the stock market itself has been good," Newton tells Yahoo Finance. "So, you know, let's not get too bent out of shape about, granted, some understandable major pullback in some of the semiconductor stocks. I don't think it's been damaging enough to say that the market has peaked out honestly. But it is an uncomfortable time for many investors." Wall Street is also paying extra close attention to the Federal Reserve as it moves forward with its first interest rate cut, and Newtown anticipates an interest rate cut of 35 basis points. He notes that when the Fed has cut between 25 and 50 basis points historically, it's been "troublesome." "My thinking is the market ends the year probably at 5,800 or higher, and the best times of any election year typically tend to be buying weakness into the election November into next spring really should be the sweet spot for investors. So if you want to make money in this day and age, you know, in this time period between now and the election, you have to be very well diversified," Newton says. He recommends the healthcare sector and financials, calling JPMorgan Chase & Co's (JPM) stock price — currently around $200 per share — a "steal." He also stresses the importance of being diversified, especially as a broad-based recovery lies for the market after the election. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Melanie Riehl
US stock market averages (^DJI, ^IXIC, ^GSPC) open higher, extending yesterday's rebound from September volatility. Chipmaker Nvidia (NVDA) is also seemingly rallying along with the rest of the tech sector. The Morning Brief's Seana Smith and Brad Smith report on market movements after Monday's opening bell, taking note of trends in the bond market (^TYX, ^TNX, ^FVX). For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Luke Carberry Mogan.
Nearly a quarter of business owners said inflation was their top small business operating issue.
According to Odaily, multinational bank Standard Chartered has announced the launch of cryptocurrency custody services in the United Arab Emirates. The bank will initially support the custody of Bitcoin (BTC) and Ethereum (ETH). This service is being introduced in collaboration with Brevan Howard Digital, the cryptocurrency division of hedge fund Brevan Howard. The custody solution has received approval from the Dubai Financial Services Authority (DFSA), the dedicated financial regulator of the Dubai International Financial Centre (DIFC).
The US dollar has found itself to be testing the massive support at the 142 yen level, as it looks like we are trying to form a double bottom. Also, there’s a trendline there as well, so this all comes together for a major area of importance.
The Aussie dollar continues to see a lot of sideways action, as the market is trying to sort out whether or not the risk appetite is going to give the Aussie any directionality going forward as there are some many questions about the global economy, and more specifically, the Asian
After a dazzling start to 2024, the VanEck Semiconductor ETF (SMH) has dropped 24.1% from its 52-week high and suffered a nearly 10% loss in the past week alone. However, for long-term investors, the selloff could present a long-term buying opportunity. I’m bullish on the largest and most liquid semiconductor ETF due to its robust long-term track record, consistently outperforming the broader market over the past three, five, and 10 years. I’m also bullish on SMH and the semiconductor industry i
Updates on the health of the US economy and what it could mean for the Federal Reserve, not Nvidia and the AI trade, appear to be moving the markets the most headed into the fall.
According to Odaily, a federal judge in Texas has dismissed a securities class action lawsuit against the DeFi project Bancor Protocol operators. Judge Robert Pitman agreed with the opinion that the plaintiffs failed to demonstrate that U.S. courts have jurisdiction over the foreign defendants. This ruling indicates that Bancor's foreign operations are not subject to U.S. securities laws, and the plaintiffs cannot sue Bancor in the U.S. for suspending its investment protection feature. The judge also noted that Bancor and its founders do not have sufficient ties to the U.S., suggesting that the plaintiffs could pursue their case in an Israeli court.