Is First Trust Financials AlphaDEX ETF (FXO) a Strong ETF Right Now?
Smart Beta ETF report for FXO
Smart Beta ETF report for FXO
On October 16, 2024, a jury returned a verdict against Phillips 66 Company, a wholly owned subsidiary of Phillips 66 (NYSE:PSX), in a lawsuit brought by Propel Fuels Inc. In the lawsuit, Propel Fuels alleged that Phillips 66 misappropriated trade secrets related to its renewable fuels business. The jury awarded Propel Fuels $604.9 million in compensatory damages. The case is currently in the Superior Court of the State of California, Alameda County, and the Court has not yet entered a judgment,
Blackstone Inc (NYSE:BX) shares are trading higher after it reported third-quarter fiscal year segment revenues of $2.434 billion, slightly beating the consensus of $2.408 billion. Distributable earnings (DE) rose 6% year-over-year to $1.279 billion. Fee-related earnings increased 5% to $1.18 billion. Fee-related earnings fell 8% in the Real Estate while rising 25% in the Credit & Insurance business and 9% in the Private Equity segments. Net accrued performance revenue rose to $7.0 billion in th
RBC Capital Markets downgraded solar energy company Enphase Energy (ENPH) to a Sector Perform rating as Big Tech inks more deals with nuclear energy developers to power their AI data centers. Most notably, Alphabet's Google (GOOG, GOOGL) signed an agreement with Kairos Power. Market Domination welcomes the analyst behind the call, RBC Capital Markets analyst Chris Dendrinos, to speak more about the solar energy landscape. Enphase seems to be finding heightened competition from Tesla (TSLA) "What they're [Tesla] doing is they're adopting one of their new batteries. It's the Powerwall 3, and that has an inverter and a battery included with it," Dendrinos tells Julie Hyman and Josh Lipton. "And then on the market adoption side, we're seeing a transition away from where a homeowner is going to outright own the solar system, and instead they're going to lease it through a company, or they're going to do what's called a power purchase agreement, a PPA. And Enphase is underweight that segment as well." Dendrinos also explains to Julie Hyman and Josh Lipton the high demand for renewable energy to power these AI data centers and this recent pivot toward nuclear power. To watch more expert insights and analysis on the latest market action, check out more Market Domination here. This post was written by Luke Carberry Mogan.
The US government is reportedly considering capping AI chip sales to certain countries. The move would affect chipmakers like Nvidia (NVDA) and Advanced Micro Devices (AMD). Macrolens founder, chief strategist, and managing principal Brian McCarthy joins Seana Smith on Catalysts to discuss the potential export rules and how they could affect the global artificial intelligence (AI) race. “It's unclear whether yesterday's news suggesting there could be tightened restrictions on the UAE and Saudi Arabia is or isn't related to those countries possibly funneling chips to China because it's very hard to sort of bottle up China's access to these chips through third parties,” McCarthy tells Yahoo Finance. He explains that despite the US limiting chip exports to China due to national security risks, widespread smuggling of the tech persists. Due to chip smugglers, “There are many, many holes in this net,” McCarthy says, adding the US government’s export rules are doing something as “clearly the cost of accessing these chips has gone up for Chinese entities, but the net has a lot of holes in it, and it's really unclear how effective these controls are slowing China's ambitions in the AI and other related spaces.” The strategist says beyond the effectiveness of the rules of keeping the chips out of China another question is how much national defense prerogatives “are tied up in the economic race.” He adds, “That’s really unclear to what extent each of those factors is driving US policy at this point. Clearly, AI has a lot of applications in defense that it's important that each side feels it's important that they have access to. As far as the economic stuff goes, it’s interesting to speculate as to whether that may change.” “I know [China is] behind in chips, and [the US will] continue to move forward." McCarthy says, adding “it is a question of whether there's justification on economic grounds to be trying to halt the advancement of any country that's just trying to build businesses.” McCarthy notes his view that the US doesn’t “really need to go out of our way to halt China's economic advancement. They have plenty of domestic problems that they are contending with at this point.” To watch more expert insights and analysis on the latest market action, check out more Catalysts here. This post was written by Naomi Buchanan.
Taking stock of year three of the bull market shows that the rally is spreading out beyond the Magnificent Seven — and even beyond tech. Since the market's recent lows, three other non-tech sectors have taken up the mantle.
Morningstar report shows inflow rebound for SSGA and big bond ETF flows.
On today's episode of Asking for a Trend, Host Josh Lipton breaks down some of the biggest themes and stories of the trading day. EV chipmaker Wolfspeed (WOLF) is set to receive a $750 million CHIPS Act grant from the US government. Wolfspeed CEO Gregg A. Lowe explains that the funding will go toward expanding two of its facilities in North Carolina and New York, and ultimately drive scale, which will "help keep the advantage of this technology in the United States." With the government's efforts to reshore critical industries like chipmaking, Lowe tells Yahoo Finance, "the semiconductor industry is definitely taking a very strong position of rebuilding that capability here in the United States." He emphasizes the importance of keeping its silicon carbide technology in the US to dispel any worries about trade secrets and intellectual property. Kinetic Automation founder and CEO Nikhil Naikal joins the show to discuss how the startup backed by PayPal (PYPL) and Palantir (PLTR) founder Peter Thiel, leverages artificial intelligence (AI) and robotics to provide repair services to electric vehicles (EVs). "Cars today have transitioned from being predominantly mechanical systems to being digital systems... And when things break, the types of repairs that are needed to bring them back to their originally engineered state of safety requires a lot more thought, precision, and efficiency," he tells Yahoo Finance. All three major indexes (^DJI,^GSPC, ^IXIC) closed lower on Tuesday, and Yahoo Finance markets and data editor Jared Blikre breaks down his key takeaways from the trading day. The financial sector (XLF) leads the market so far this month compared to all other S&P 500 sectors as Big Banks report third quarter earnings. Oil prices (CL=F, BZ=F) diverge from inflation expectations amid macroeconomic uncertainty. Bitcoin (BTC-USD) shows signs of breaking out as it hovers around $67,000. As the bull market marks its two-year anniversary, Market Domination Host Julie Hyman breaks down how the current S&P 500 rally compares to previous bull markets. To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend here. This post was written by Melanie Riehl
The bull market is officially two years old, and as investors head into the third year, Yardeni Research President Ed Yardeni explains what could lie ahead. Yardeni expects earnings to continue to push the market higher, especially as valuations are "already stretched." He adds that if valuations increase, it may spark a melt-up, which he tells Yahoo Finance, "You can make a lot of money still from here. But then you got to figure out when to get out. And then you have to get out pretty significantly." Overall, he expects earnings to drive market growth and support a bull market: "I'm thinking that the market goes up on earnings and that earnings, which were probably about $250 a share this year, go up to $275 a share next year, and $300 a share the year after that. By the way, by the end of the decade, I think we could be at $400 per share, which times a 20 multiple or so gets us to 8,000 on the S&P 500 (^GSPC). So I think it's still a bull market." With this market backdrop, Yardeni explains that he is Overweight on technology (XLK), industrials (XLI), and financials (XLF). On the other hand, he is "not too keen on" utilities (XLU) and other interest-rate-sensitive areas: "We don't think interest rates are going to come down as much as the market has been discounting." Watch the video above to hear what Yardeni thinks about the bond market (^TYX, ^TNX, ^FVX). To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here. This post was written by Melanie Riehl
All three major indexes (^DJI,^GSPC, ^IXIC) closed lower on Tuesday. Yahoo Finance markets and data editor Jared Blikre joins Josh Lipton on Asking for a Trend to break down his key takeaways from the trading day. The financial sector (XLF) leads the market so far this month compared to all other S&P 500 sectors as Big Banks report third quarter earnings. Oil prices (CL=F, BZ=F) diverge from inflation expectations amid macroeconomic uncertainty. Bitcoin (BTC-USD) shows signs of breaking out as it hovers around $67,000. To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend here. This post was written by Naomi Buchanan.