Silver and gold are again grabbing investor attention following bouts of softer U.S. data, which boosted prospects of an interest rate cut by the Fed in September. However, silver has an edge over gold due to various reasons.
The S&P 500 and Nasdaq Composite were on track to build on a recent string of record closing highs as Fed Chair Powell sat before Congress for a second day of testimony. The Dow was up 50 points, or 0.1%. The S&P 500 was up 0.2%.
A majority of the stocks in the S&P 500 haven't seen earnings grow in over a year. That's about to change.
Stocks opened mostly higher and bond yields pulled back on Federal Reserve Chair Jerome Powell’s second day of congressional testimony. The Nasdaq Composite was up 0.5%. The yield on the 10-year Treasury note was down to 4.285% following promising inflation data in China and Norway.
Investments in actively-managed ETFs are on the rise. VettaFi investment strategist Cinthia Murphy joins Wealth! to discuss why active ETFs may be the key to a successful second half of 2024, despite uncertainty around the economy. Murphy explains why active ETFs have become so popular: "It's been a big year for active ETF demand because it's a time when people are trying to be more hands on about positioning themselves in this amount of uncertainty, going forward. If you look the demand for your classic index based portfolios, whether it's in equity or fixed income, that remains strong and really robust, but active is a little bit of a new phenomenon in the ETF space. It's been around forever, but it never really took hold until recently when more product, better product, lower fee products really started to emerge. " For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Nicholas Jacobino
Investors should consider leaning into the AI build-out and adoption phase amid a transformation that is on par with the Industrial Revolution, BlackRock strategists said.
-- Gold prices rose slightly in Asian trade on Wednesday as comments from Federal Reserve Chair Jerome Powell sparked increased speculation over when the central bank will begin cutting interest rates.
The Dow traded places with the Nasdaq. The blue-chip index was up 100 points, or 0.3%, in midday trading. The S&P 500 was up 0.2%. The Nasdaq Composite was down 0.1%. The S&P 500 is on track to close at another record.
According to BlockBeats, US Treasury Secretary Janet Yellen has denied providing guidance or coordination to the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) regarding cryptocurrency regulation. Yellen made this statement while testifying before the US House Financial Services Committee on July 10.The Treasury Secretary's comments come amid ongoing discussions about the role of various regulatory bodies in overseeing the rapidly evolving digital currency sector. Yellen's statement indicates that she has not been directing or coordinating the actions of the SEC and CFTC, two key regulatory bodies in the US financial system.This news provides insight into the current state of cryptocurrency regulation in the US, highlighting the independence of the SEC and CFTC in their approach to this new financial technology. It also underscores the complexity of the regulatory landscape for cryptocurrencies, with multiple agencies involved and no clear guidance from the Treasury Department.
According to BlockBeats, Evercore ISI analyst Krishna Guha has given his assessment of Jerome Powell's recent comments on the 'constantly changing risk balance'. Guha interprets Powell's remarks as dovish, suggesting that he is laying the groundwork for a potential rate cut in September. This prediction is contingent on the forthcoming data, particularly the inflation report due on Thursday, maintaining and supporting the Federal Reserve's assessment of the risk balance.