Bank stocks have outperformed in recent weeks as investors see an improved regulatory environment if former President Donald Trump returns to the White House, according to Bank of America. The Invesco KBW Bank ETF (KBWB) , which tracks the KBW Bank Index, has climbed more than 6% since the start of October. By comparison, the S & P 500 has added less than 2% during the same period. “We believe that the recent outperformance in banks stocks … has at least partially been driven by the potential for a change in administration,” research analyst Ebrahim Poonawala wrote to clients in…
Author: usaeverydaylife
The Nasdaq MarketSite in New York, US, on Monday, Sept. 16, 2024. Yuki Iwamura | Bloomberg | Getty ImagesKKM Financial has converted its Essential 40 mutual fund into an ETF, joining the growing shift by asset managers to a more tax-efficient fund model.ETFs make it easier for investors and financial advisors with taxable accounts to choose when to create capital gains or losses. This differs from mutual funds, which can sometimes hit their investors with an unwanted tax bill due to withdrawals or portfolio changes.”When you look at the tax efficiency of an ETF compared to a mutual fund, it is…
The tennis world awoke to a surprise on Monday, with Aryna Sabalenka replacing Iga Swiatek as No. 1 in the WTA rankings.Sabalenka, who has won two Grand Slam titles in a sterling season, has been engaged in a battle for supremacy with Swiatek — who has a Grand Slam title of her own, and five titles in 2024 to Sabalenka’s four — all year. It was expected to run until the season-ending WTA Tour Finals in Riyadh, Saudi Arabia, next month, where Swiatek is defending champion.Instead, Swiatek lost 120 ranking points in the latest update, and Sabalenka lost 10, leading…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailFormer House Speaker Kevin McCarthy says he would give former President Donald Trump the “advantage” if the election was today, as debate heats up over whether financial markets are starting to price a Trump election win. Source link
Tech investor Ray Wang — who owns all “Magnificent Seven” stocks — laid out his rankings of favored tech plays on Monday. The founder of Constellation Research views Nvidia as the top megacap to own given its ongoing spending on the early-stage artificial intelligence buildout as companies ramp up spending on its chips to get ahead of competitors. “We’re just at the beginning of the AI build out, and one of the big places to see where that buildout is happening is really in the Nvidia earnings,” he told CNBC’s ” Squawk Box ” on Monday. Wang equated the AI…
It’s a good time to increase exposure to bitcoin as stocks continue hitting new records and as the U.S. presidential election draws nearer, according to Bernstein. Bitcoin is again testing $70,000, something it’s done several times this year after reaching a new record above $73,000 in March. This time could be different, however, according to Bernstein. The end of “Uptober” (crypto investors’ name for bitcoin’s historically strongest month of the year) is around the corner; the U.S. general election, widely seen as a key catalyst (at least on a short-term basis) for bitcoin, will follow; demand for bitcoin ETFs is…
Vice President Kamala Harris is campaigning for president against Elon Musk at least as much as she is against former President Donald Trump, Mark Cuban said Monday, as he advocated for the Democratic nominee as the pro-business choice.”It’s the Harris campaign versus Elon, not even versus Trump,” the billionaire investor and former “Shark Tank” host said on CNBC’s “Squawk Box.”Cuban took a swipe at the Tesla and SpaceX CEO over Musk’s promise to give $1 million per day to the winner of a swing-state voter sweepstakes, calling it “innovative” and “desperate.”But Cuban later predicted that if Harris wins, she “100%”…
NEW YORK — The 2024 WNBA Finals was one of the most memorable series in league history. Even as they were competing against each other, Minnesota Lynx and New York Liberty players recognized the beauty of their competition and what a great advertisement it was in a season that brought record viewership and enthusiasm to the league.But the finals also brought a spotlight to the WNBA’s officiating. The performance of the referees didn’t rise to the standard of the players, and they compromised the league’s product as a result.“It’s a shame that officiating had such a hand in a series…
JPMorgan sees some near-term catalysts leading to a big rally in Xpeng shares. Analyst Nick Lai, who has an overweight rating on the Chinese electric vehicle maker, added Xpeng to the Wall Street bank’s positive catalyst watch list in a 17-page report out Sunday. His price target of $14 implied roughly 34% upside from the stock’s close on Friday. “In addition to our positive sector stance into the year-end (i.e. 35% QoQ PV growth in 4Q24 vs. seasonality ~20%, click here), XPeng’s upcoming new product strategy, advancing in-house technology and solid 3Q earnings as well as strength in 4Q vehicle…
Republican presidential nominee, former U.S. President Donald Trump delivers remarks during a campaign rally at the Cobb Energy Performing Arts Centre on October 15, 2024 in Atlanta, Georgia. Kevin Dietsch | Getty Images News | Getty ImagesFive men who were wrongfully convicted as teenagers in the so-called Central Park Five jogger rape case sued Donald Trump on Monday, saying the Republican presidential nominee defamed them by claiming they killed someone and pleaded guilty.The lawsuit, filed in federal court in Philadelphia, cites several statements Trump made about the men during his Sept. 10 debate with Democratic nominee Kamala Harris.”Defendant Trump falsely stated…
