Of the 175 key ETFs that we track, just one made a new all-time high on Tuesday – the iShares Expanded Tech-Software Sector ETF (IGV) . This is significant for a few reasons. First, it shows that technology has continued to bounce back. This is crucial given that the tech unravel was one of the underlying reasons that the S & P 500 took sizable hits both in early August and early September. The sector will be a critical factor in whether the broader market can take advantage of the historically strong final two months of the year, as well. IGV,…
Author: usaeverydaylife
ST. PAUL, Minn. – Craig Leipold smiles as he surveys the scene from his center-ice suite at a bustling Xcel Energy Center for a preseason game against the lowly Chicago Blackhawks.The Minnesota Wild owner has just taken his private plane back from the NHL’s Board of Governors meeting in New York, where commissioner Gary Bettman proudly told owners many of the league’s franchises are worth around $2 billion.“The franchises are just golden,” Leipold says.The Wild owner says his season-ticket renewals are over 90 percent, corporate sponsorships are at a new high and club seats have been sold out since he…
Lucy Lambriex | Stone | Getty ImagesAs the Federal Reserve cuts interest rates, investors should review their bond portfolio, which could see a boost from dovish Fed policy.The central bank in September kicked off its first easing campaign in four years with a 50 basis point rate cut, which brought its benchmark rate to a range of 4.75% to 5%.After a better-than-expected jobs report last week, analysts predict future rate cuts could be smaller.However, the Fed policy shift could be good for parts of the bond market, experts say. Typically, bond prices and market interest rates move in opposite directions. “This…
Check out the companies making headlines in midday trading. Astera Labs – Shares gained more than 16% after the company, which sells data center connectivity chips, debuted new fabric switches for artificial intelligence . Norwegian Cruise Line – Shares popped 10% on the heels of a Citi upgrade to buy from neutral. Citi said the company should see significant growth in earnings per share that can drive earnings upside and expand the margin. Bayer – U.S.-traded shares of the life sciences company fell around 7%. The Washington Supreme Court said it would review a case against the company that alleges…
Nvidia is the stock to watch heading into Wednesday’s close. The mega-cap tech stock that is everyone’s artificial intelligence barometer is nearing a milestone with its recent rally. The market darling, which could post a sixth straight day of gains Wednesday, is nearing its all-time closing high of $135.58 that it reached in late June. At its high for Wednesday’s session it reached $134.52. At last check, it was basically unchanged for the day. The morning move higher in Nvidia helped to lift the S & P 500 to an intraday record . A record close for Nvidia, along with…
People visit the beach as storm clouds hang pass overhead before Hurricane Milton’s arrival on October 08, 2024 in Fort Myers, Florida. Joe Raedle | Getty ImagesLocal authorities said Wednesday that Floridians only have a few hours left to evacuate the storm surge area as Milton, which is currently a Category 4 hurricane, is projected to make landfall on the western coast of the state late Wednesday night or early Thursday morning.Gas stations around the state have already run out of fuel as people attempt to either leave the state or have fuel on stock for at-home generators. About 1,200 of…
Manchester City have won the Premier League four times in a row and are unbeaten after seven matches this season.But they are more likely to be relegated than Brighton & Hove Albion, Fulham and West Ham United, according to bookmakers.City are 12/1 to be relegated this season, with Arsenal and Liverpool, their two most prominent domestic rivals, priced at 2,000/1 to drop into the Championship.This has nothing to do with their consecutive draws against Arsenal and Newcastle United, nor is it down to Rodri being out for the season with an anterior cruciate ligament injury he sustained against Arsenal in…
Employees of the State Archaeological Office have hung pictures of finds from a construction trailer during a main archaeological investigation on the Northvolt site. Picture Alliance | Picture Alliance | Getty ImagesSweden’s Northvolt on Wednesday said the head of its main plant, Europe’s first homegrown gigafactory for lithium-ion battery cells, will step down with immediate effect.It comes shortly after the cash-strapped company announced plans to reduce its workforce by about 25% in Sweden as part of a major cost-cutting drive.Mark Duchesne, CEO of Northvolt Ett, will be replaced on an interim basis by Angéline J. Bilodeau, the firm’s vice president of…
With polling continuing to show a very close U.S. presidential race , investors looking to hedge their bets may want to consider the defense sector. While defense stocks have slightly underperformed the broader market in 2024, the industry’s outlook is unlikely to hinge on which candidate becomes the commander in chief. Instead, the makeup of Congress could matter more, especially if investors perceive lawmakers will be more willing to boost the Department of Defense’s budget. Tensions in the Middle East remain a catalyst as geopolitical unease has historically driven valuations in the sector. “The point here is that what matters…
Dallas Fed’s Logan backs a ‘more gradual’ pace of rate cutsDallas Federal Reserve President Lorie Logan on Wednesday recommended a gradual easing of interest rates as she worries that inflation could get “stuck” above the central bank’s 2% goal.In a speech delivered in Houston, Logan asserted that a “more gradual path back to a normal policy stance will likely be appropriate from here to best balance the risks to our dual-mandate goals.”Specifically, she said she worries that persistently high levels of demand and easing financial conditions — lower mortgage rates, higher stock prices and more accommodative credit backdrop — could…
