Author: Press Room
Heightened geopolitical tensions and cybersecurity concerns may be propelling exchange-traded funds that invest in stocks linked to those areas toward potential “breakouts,” according to Renaissance Macro Research. Shares of the First Trust Nasdaq Cybersecurity ETF CIBR, -0.61% have jumped 9.5% this year through Thursday, while the iShares U.S. Aerospace & Defense ETF ITA, -1.67% climbed 4.5% over the same period, according to FactSet data. “We live in dangerous times and that is being reflected in the stock market,” as the iShares U.S. Aerospace & Defense ETF and First Trust Nasdaq Cybersecurity ETF are “on the verge of breakouts,” Renaissance Macro…
Perhaps we won’t have to say farewell to “The Phantom of the Opera” for long. Andrew Lloyd Webber, the composer behind Broadway’s longest-running show, told MarketWatch that he expects the musical will return at some point after it ends its 35-year run on April 16. “The Phantom sends me notes from time to time, saying he’s quite in love with New York and he might not want to be away from Broadway,” Lloyd Webber said coyly in a recent interview. Lloyd Webber has been in New York for the closing and received the key to the city on Friday from…
Rent growth is cooling and apartment landlords are feeling the heat, especially those who will soon need to refinance debt they took on to buy buildings. Yet one company is still upbeat on the outlook for multifamily rentals, particularly in the Sun Belt. “You have major supply constraints in most rental markets [and] the housing affordability crisis continues to [result in an] increasing pool of renters in most markets,” Alan Lewis, co-founder and chief investment officer of DiversyFund, told MarketWatch. “So we’re definitely bullish on multifamily both in the short term and the long term,” he added. The company is…
The numbers: Cash-strapped banks borrowed $139.5 billion in emergency lending from the Federal Reserve in the week ended April 12, down $9.4 billion from the prior week, according to data released by the central bank Thursday. That is down from a peak of $300 billion in mid-March, when Silicon Valley Bank collapsed. Key details: Banks borrowing from the traditional “discount” window stood at $67.6 billion in the week ended April 12, compared with $69.7 in the prior week. Bank loans from the new Bank Term Funding Program were $71.8 billion, down from $79 billion in the prior week. The Fed…
© Reuters XPeng (XPEV) to present next-gen vehicle tech plans in live briefing ahead of Shanghai autoshow By Michael Elkins Chinese electric automaker Xpeng Inc (NYSE:) announced today that the company will host a press briefing on Sunday, April 16, 2023, to present its next-generation vehicle technology architecture. In addition, the company will debut its next production model at Auto Shanghai 2023 on Tuesday, April 18, 2023, with an accompanying live broadcast. The press briefing will be hosted by XPENG’s Chairman and CEO, He Xiaopeng, and begin Sunday, April 16 at 03:00 PM Beijing time (3:00 AM US Eastern Daylight…
By Laila Kearney NEW YORK (Reuters) -Oil prices were up on Friday and secured a fourth straight week of gains after the West’s energy watchdog said global demand will hit a record high this year on the back of a recovery in Chinese consumption. The International Energy Agency (IEA) also warned that deep output cuts announced by the Organization of the Petroleum Exporting Countries (OPEC) and other producers led by Russia – a group known as OPEC+ – could exacerbate an oil supply deficit and hurt consumers. futures settled at $86.31 a barrel, rising 22 cents, or 0.3%. West Texas…
(Reuters) -Deposits at U.S. commercial banks rose in early April in a renewed sign of confidence in the banking sector after massive deposit outflows following last month’s failure of two large regional banks. Federal Reserve data released on Friday showed deposits at all commercial banks rose to $17.43 trillion in the week ended April 5, on a non-seasonally adjusted basis, from $17.35 trillion a week earlier. The increase was about evenly shared between the largest 25 banks and the small and mid-sized banks. That left deposits at the largest banks above the levels prior to the collapse of Silicon Valley…
Stock market experts call it the fear index and right now it’s indicating the opposite of fear: the volatility index has returned to its comfort zone. The VIX is back in the area where tops tend to form and where some investors begin to feel obliged to jump back in and wait for the profits to roll in. Major breadth and momentum indicators are failing to confirm that the comfort zone should feel all that comfortable. In fact, it’s the sort of non-confirmation that a reasonable analyst might even find to be troubling especially given the uncertainty created by the…
EXCLUSIVE: CVS Health’s “gender transition guidelines” for employees requires workers to address people by their preferred pronouns and names and that they may use whichever restroom or locker room they wish regardless of whether the individual identifies as transgender. In the guidelines obtained exclusively by FOX Business, employees are told they may be entitled to a medical leave of absence “under the Family and Medical Leave Act, state law, and/or CVS Health policy.” Transitioning employees are asked to tell their immediate leaders about their transition so the company “can provide support and to make your transition as smooth as possible.””You…
Investors may have a new way to generate income during economic declines.Innovator launched a one-of-a-kind suite of barrier ETFs this month that provides protection by purchasing U.S. Treasurys and selling equity options.”Advisors are realizing that bonds aren’t the safe haven that many thought they would be,” the firm’s CIO, Graham Day, told CNBC’s “ETF Edge” this week. “If you can pair [a barrier ETF] with the fixed income, it offers a tremendous amount of diversification benefits.”Innovator, an outcome-based ETF issuer, launched these products last week: Premium Income 10 Barrier ETF, Premium Income 20 Barrier ETF, Premium Income 30 Barrier ETF…
