New data shows US economy on track to grow at 'encouragingly solid pace'
Fresh data from S&P Global showed the US economy is tracking for solid growth through the end of 2024.
Fresh data from S&P Global showed the US economy is tracking for solid growth through the end of 2024.
The hedge fund manager favors bitcoin and gold as “all roads lead to inflation.”
Gold settles down 1.1% to $2,714.40 an ounce, breaking a string of six straight gains. The decline comes amid profit-taking by traders, but investors are seen as continuing to have a rabid appetite for gold.
Kurt Reiman, UBS Global Wealth Management ElectionWatch co-lead, joins Catalysts to discuss how investors can best prepare for the election. Reiman expects heightened volatility around the election, and adds, "Some of the financial market outcomes that we're seeing are perfectly reasonable within the context of this elevated volatility that we're seeing." However, he notes that this will likely be a contested election: "We have a very narrowly divided country. The polls are telling us this. The prediction markets are not. And that's kind of an interesting sort of dichotomy with what's happening." It could take weeks to receive an official outcome, so Reiman encourages investors to avoid making large, strategic portfolio shifts during this time. Yet, there are investments that he says could be "helpful" over the next year. He points to gold (GC=F) as an example, arguing that it is not only a good asset to hold amid volatility but also when central banks are shifting their reserves. He also highlights the utilities sector (XLU), noting that it is a beneficiary of increased AI demand and is a "more stable dividend player." "The point is that making some tactical shifts in the portfolio to add a little bit of robustness to it going into what may be a contested election is not a bad idea. But what I would not recommend is large portfolio shifts because of concerns about the risk of a contested election," Reiman tells Yahoo Finance. To watch more expert insights and analysis on the latest market action, check out more Catalysts here. This post was written by Melanie Riehl
Gold and silver prices have been climbing in recent tradings. Can the rally continue?
Gold prices continue to hit fresh records. Here's one possible message from the safe-haven move.
AIVC emerges from Amplify’s acquisition of ETF Managers Group.
Investors have been ramping up bets on the presidential election. Some investors have been eyeing bullish trades tied to banks in a wager that Donald Trump will win and potentially loosen regulations tied to financials, said Danny Kirsch, head of options at Piper Sandler.
The growing energy appetite to power AI and data center technologies has led companies to search for clean and cost-efficient energy sources, most notably nuclear power. Tech companies like Amazon (AMZN), Microsoft (MSFT), and Alphabet's Google (GOOG, GOOGL) have been signing deals with developers to build out small modular reactors (SMRs) to meet their energy needs. Yahoo Finance special reporter Akiko Fujita dives into the details, highlighting Big Tech's rising interest in the future of nuclear energy. She notes the benefits these SMRs could pose for power grids while no commercial modular reactors have been completed in the US yet. X-energy CEO Clay Sell sat down with Catalysts earlier today to discuss Amazon's investment into the nuclear reactor designer's SMR plans. Watch Kairos Power CEO Mike Laufer interview with Yahoo Finance last week about the nuclear power startup's partnership with Google. To watch more expert insights and analysis on the latest market action, check out more Catalysts here. This post was written by Angel Smith