U.S. equity futures traded little changed as traders awaited inflation data for clues on whether policy makers will keep rates higher for longer. Europe’s Stoxx 600, meanwhile, retreated 0.7% as stagflation concerns mounted. The pound extended declines to a three-month low after the UK economy shrank at the quickest pace in...
Investors in semiconductor stocks face a growing threat to industry valuations: a chronic shortage of water. For Abrdn Plc, there are now few issues as pressing as water for the sector, according to David Smith, a senior investment director for Asian equities at the asset manager. “Water management has been one...
The recession question is never far away and there is no consensus on when or how deep it will be. While wealth and asset managers expect a recession in the next year according to a recent poll, a panel of 14 chief economists from some of the largest U.S. banks...
With a nod toward LPL Financial Holdings Inc.’s recent successes in both recruiting financial advisors as well as signing up large outside firms like banks to use its platform, Barclays Equity Research slapped a brand-new “overweight” rating on shares of LPL Financial (LPLA). As Barclays initiated its coverage of...
Alternative assets remain a key component of the investment decisions of limited partners according to a new survey. Almost all (93%) of respondents said they plan to either maintain or increase their allocations to alts in the next 12 months, with more than half falling in the ‘increase’ group with...
Uncle Sam is not the only one telling investors to buy U.S. bonds. Financial advisors are too. PGIM Investments’ quarterly survey of advisors — conducted just before the banking turmoil in March and again in May — shows that financial advisors ranked Treasuries, municipal bonds and investment-grade corporate bonds as...
Flourish Cash, a division of fintech company Flourish that provides registered investment advisors with access to cash management, announced Friday it is increasing its top-tier annual percentage yield as well as the amount of assets protected by FDIC insurance. Advisors can now use Flourish, which is owned by MassMutual, to...
The global exchange-traded funds market was worth $7.3 trillion at the end of the second quarter of 2023, a rise of 5.8% from the previous quarter thanks to inflows of $136.6 billion and market appreciation worth $265 billion. Inflows included $89 billion to equity strategies, $45.9 billion to fixed income,...
Crypto exchange-traded-products issuer 21Shares and Cathie Wood’s Ark Investment Management are seeking to offer the first U.S. ETF that invests directly in ether. The firms are hoping to debut the ARK 21Shares Ethereum ETF, according to a Wednesday filing with the Securities and Exchange Commission. Their application is the first...
Wisconsin-based investment management firm Madison Investments has launched its fourth new actively managed ETF, rounding out its initial suite of funds that debuted last month. The firm’s latest exchange-traded fund is the Madison Short Term Strategic Income ETF (MSTI), designed to generate a high level of current income by allocating...