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☆ ETF flows on track to hit record above $1 trillion by year-end, VettaFi data shows
▼ + stars: | 2024-11-14 | by ( Frank Holland | In Frank-Holland | ) www.cnbc.com time to read: +4 min

Inflows are on track to hit the $1 trillion milestone by year-end, as the election acts as a new catalyst, the firm found. ETFs have seen inflows of more than $58 billion since Election Day, according to State Street Global Advisors. State Street's popular SPDR S & P 500 ETF Trust (SPY) has seen more than $12 billion of new money, since the Nov. 5 election. ETF flavors garnering notable flows The ETFs that track indexes have seen the biggest dollar inflows. State Street said its SPDR Galaxy Digital Asset Ecosystem ETF (DECO) has seen inflows increase by 26% since Election Day.

Persons: Todd Rosenbluth, Donald Trump's, Ryan McCormack, McCormack, Anna Paglia, Rosenbluth Organizations: Street Global Advisors, Trust, Trump, Mining

☆ ETF world buzzing about new cash flooding into funds seen winning from Trump trades
▼ + stars: | 2024-11-11 | by ( Bob Pisani | ) www.cnbc.com time to read: +7 min

"For example, during Trump's previous administration, deregulation in the energy sector boosted oil and gas stocks, benefiting energy ETFs." Aggregate Bond ETF (AGG) and Vanguard Total Bond Market Index Fund ETF (BND), two of the world's largest bond ETFs, and longer-term funds like iShares 20+ Year Treasury Bond ETF (TLT). Crypto ETFS having big year and getting bigger Since launching in January, crypto ETFs have attracted roughly $70 billion in assets, one of the most successful ETF launches ever. Bitcoin ETFs including the iShares Bitcoin Trust (IBIT), the largest bitcoin ETF by assets under management, have seen significant inflows since October. Rosenberg at Texas Capital acknowledges that certain ETF sectors, like industrials ( Vanguard Industrials Index Fund ETF , or VIS; iShares U.S. Industrials ETF , or IYJ), "could be hurt by more tariffs."

Persons: Trump, Tom Lydon, John Davi, iShares Russell, ROE, Matt Bartolini, Bartolini, Gavi, Edward Rosenberg, Gary Gensler, Michael Novogratz, Cathie Wood, Todd Sohn, Wood, Davi, Rosenberg, industrials Organizations: Astoria, CNBC, Potential Trump, Bank ETF, Assets ETF, Trump, ETF Research, Street Global Advisors, Regional Bank ETF, Treasury, Aggregate Bond, Vanguard, Fund, Treasury Bond ETF, Texas, SEC, Commodity Futures, Galaxy Digital Holdings, ARK, Innovation, ARKK, Downside, China ETF, Texas Capital, Index, Industrials, U.S, Edge Locations: Astoria, Congress, rulemaking, Coinbase, China, Mexico

☆ Investing giants want to offer retail traders access to a booming sector of financial markets
▼ + stars: | 2024-10-03 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

It would give retail investors access to a $1.7 trillion market. It could be tricky, as private credit tends to be illiquid while ETF investors need high liquidity. According to The Wall Street Journal, some of the biggest private equity and investment management giants want to offer retail investors access to exchange-traded funds backed by private credit. The race to launch private credit ETFs has heated up in recent months. Last month, State Street proposed a private debt ETF to the Securities and Exchange Commission.

Persons: —, Anna Paglia, Paglia, Eric Mogelof Organizations: Service, Wall Street, Apollo Global Management, BlackRock, Capital Group, KKR, Securities and Exchange Commission, Street's

☆ ETF Edge with State Street's Matt Bartolini
▼ + stars: | 2024-09-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailETF Edge with State Street's Matt BartoliniMatt Bartolini, State Street managing director and head of SPDR Americas Research, joins CNBC's Bob Pisani on the 'Halftime Report' to discuss whether investors would flee Treasuries as yields drop and more.

Persons: Matt Bartolini Matt Bartolini, Bob Pisani Organizations: State Street, SPDR, SPDR Americas Research Locations: SPDR Americas

☆ This JPMorgan ETF has beaten the S&P 500 five years in a row. Here’s how
▼ + stars: | 2024-07-25 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

However, one exchange-traded fund (ETF) has done just that, beating the S & P 500 index for five consecutive years. The JPMorgan US Research Enhanced Index Equity ETF has beaten the benchmark every year since 2019 and is also outperforming in 2024. However, it wasn't until 2018 that JPMorgan decided to marry this time-tested strategy with the increasingly popular ETF structure. For instance, JPMorgan's ETF is overweight Microsoft shares by 45 basis points compared to the weighting for the stock in the iShares Core S & P 500 ETF. This extensive coverage forms the backbone of the REI strategy, according to Grassi.

Persons: Piera Elisa Grassi, Raffaele Zingone, Grassi, REI, Berkshire, we've Organizations: JPMorgan US, Equity, London Stock Exchange, Borsa Italiana, Deutsche Borse, Six Swiss Exchange, JPMorgan Asset Management, JPMorgan, JPMorgan Global, Vanguard, Berkshire Hathaway, GE Aerospace, Asset Management, CNBC Locations: United States, U.S, Grassi, iShares

☆ Millennials will inherit $90 trillion by 2034. 3 reasons they'll supercharge the ETF market, according to $4.3 trillion State Street.
▼ + stars: | 2024-07-22 | by ( Christine Ji | ) www.businessinsider.com time to read: +7 min

Namely, millennials invest in exchange-traded funds more than any generation before them, according to State Street Global Advisors' 2024 ETF Impact Survey. AdvertisementOverall, State Street, which manages $4.3 trillion in assets, found that boomers are doomers when it comes to the overall economic outlook. State Street Global AdvisorsMillennials across the world are also more likely than any other generation to hold ETFs in their portfolios. AdvertisementETFs also offer easy liquidity, especially when compared to the mutual funds that are popular with older demographics. Investors can't trade mutual funds intraday because trades are executed once a day after the 4 p.m. market close.

Persons: —, aren't, Scott Chronert, Chronert, millennials, Michael Arone, Vanguard Russell, Russell, That's Organizations: Service, Street Global Advisors, Business, State Street Global Advisors, Mutual, Citigroup, Bank of America, State, Trust, Vanguard, Nasdaq, Boomers, Bond, Bond Market, State Street, Galaxy Asset Management, Street Locations: Australia, Singapore, Japan

☆ The top gold strategist at $4.3 trillion State Street shares 3 reasons why gold could reach $2,700 by year-end — and how he invests in the metal
▼ + stars: | 2024-07-15 | by ( Christine Ji | ) www.businessinsider.com time to read: +6 min

With over 50 years of experience in the gold industry, Milling-Stanley believes today's macroeconomic environment is ripe for gold to outperform. The possibility of a rate cut in the next six months has been looming over the economy, which should boost the price of gold, Milling-Stanley said. State Street Global AdvisorsUS dollar depreciation will also push gold prices up, he said. He estimates a 50% probability of gold prices ending the year in the $2,200 to $2,500 range and a 30% probability of prices rising between $2,500 and $2,700. Other cost-efficient options include the SPDR Gold MiniShares Trust (GLDM), iShares Gold Trust (IAU), Goldman Sachs Physical Gold ETF (AAAU), and GraniteShares Gold Trust (BAR).

Persons: —, George Milling, Stanley, there's, I've, He's, Goldman Sachs Organizations: Service, Stanley, Trust, Business, Street Global Advisors, Stanely, Street Global, MiniShares, Gold Miners, Miners Locations: Nigeria, Ukraine, China, Taiwan

☆ Nvidia set to overtake Apple in $72 billion technology ETF shakeup after its monster 164% rally this year
▼ + stars: | 2024-06-18 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Nvidia is set to surpass Apple in a major technology ETF, triggering a $23 billion trade later this month. Microsoft, Apple, and Nvidia are all worth more than $3 trillion amid an ongoing AI-fueled tech boom. AdvertisementNvidia is poised to overtake Apple in one of the biggest technology ETFs later this month, sparking a massive $23 billion trade. A diversification rule in the tech ETF has limited the concentration of the fund in a big way. With Nvidia set to take the second spot from Apple, it will spark a massive combined trade worth more than $20 billion.

Persons: — Organizations: Nvidia, Apple, Microsoft, Service, Business, Bloomberg News, Bloomberg

☆ U.S. economy will see 'more things break' in 2025 if rates stay high, strategist says
▼ + stars: | 2024-04-16 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

U.S. Federal Reserve Chair Jerome Powell holds a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, U.S., March 20, 2024. The U.S. economy could be headed for stormy waters in 2025 if the Federal Reserve does not take action soon on interest rates, State Street's head of investment strategy in EMEA said Tuesday. "The traditional transmission policy mechanism has broken, or doesn't work as well," Kassam told "Squawk Box Europe." As such, the impact of, for example, sustained higher interest rates may not be felt until further down the line when they come to refinance. "For now, consumers and corporates aren't feeling the pinch of higher interest rates," he added.

Persons: Jerome Powell, Altaf Kassam, Kassam Organizations: Federal, Committee, Federal Reserve, CNBC, Fed Locations: Washington , U.S, U.S

☆ State Street's George Milling-Stanley on the booming trade in gold ETFs
▼ + stars: | 2024-04-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailState Street's George Milling-Stanley on the booming trade in gold ETFsGeorge Milling-Stanley, chief gold strategist at State Street Global Advisors, sits down with CNBC's Bob Pisani on the 'Halftime Report: ETF Edge' to discuss where gold is headed from here, who's buying into the commodity, and more.

Persons: George Milling, Stanley, CNBC's Bob Pisani Organizations: George Milling, State Street Global Advisors

☆ This winning sector could see even more upside once the Fed starts cutting rates, according to State Street
▼ + stars: | 2024-03-29 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Homebuilding stocks have reached new highs this year, and State Street's Matthew Bartolini sees more upside in store when the Federal Reserve begins cutting rates. "The thesis just comes down to economic resilience that is fueled by a strong labor market and a healthy consumer," said the managing director and head of SPDR Americas research. XHB YTD mountain Homebuilding ETF has surged more than 15% this year. The SPDR S & P Homebuilders ETF (XHB) has rallied nearly 17% year to date and about 70% over the past year. Homebuilding stocks have also benefited from a resilient economy that is led by a healthy labor market, and they stand to gain even more in a Federal Reserve rate-cutting cycle.

Persons: Matthew Bartolini, Bartolini Organizations: State, Federal Reserve, SPDR, Sonoma, Products, Carlisle Companies, Builders, Fed Locations: SPDR Americas, Williams

☆ Cramer's Lightning Round: Huntington Ingalls is a winner
▼ + stars: | 2024-03-26 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon State Street's year-to-date stock performance. Stock Chart Icon Stock chart icon Visa's year-to-date stock performance. Stock Chart Icon Stock chart icon Huntington Ingalls' year-to-date stock performance. Stock Chart Icon Stock chart icon Chart Industries' year-to-date stock performance. Stock Chart Icon Stock chart icon AECOM's year-to-date stock performance.

Persons: Morgan Stanley, Huntington Ingalls, I've, It's, We're, Jim Cramer's Organizations: Visa, Industries Locations: Wells Fargo

☆ The whole world is reaching all-time highs. Here’s what’s driving it
▼ + stars: | 2024-02-27 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +8 min

On the surface, it may seem simple — global stocks are rallying, so there must be one universal driver, right? When this happens, the yen should strengthen and improve shareholder value in Japanese stocks, Arone said. "All of that gives you the ingredients you need to push stocks higher — not only U.S. stocks, but global stocks — in the next 12 months or so," he said. "I think that international stocks — Japan, Europe — have more room to go. Similar to Kelly, Kleintop recommended a more broad-based approach to playing this global rally.

Persons: It's, Charles Schwab's, Jeffrey Kleintop, they've, David Kelly, Michael Arone, Kelly, Arone, —, Kleintop, Fred Imbert Organizations: U.S, Dow Jones, Nasdaq, Nikkei, CNBC, Nvidia, Asset Management, Federal Reserve, European Central Bank and Bank of England, Bank of Japan, Tokyo Stock Exchange, State, — Locations: United States, U.S, Europe, Japan, Korea, China, Asia, America, Eastern Europe, — Japan

☆ Inflation's 'last mile' remains most difficult part of the walk, says State Street's Michael Arone
▼ + stars: | 2024-02-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInflation's 'last mile' remains most difficult part of the walk, says State Street's Michael AroneCNBC's Bob Pisani interviews Michael Arone, chief ETF strategist at State Street Global Advisors, about the state of the exchange-traded fund industry, the debate over active versus passive strategies, and more.

Persons: Michael Arone, Bob Pisani Organizations: State Street Global Advisors

Spokespeople for the banks declined to provide comment ahead of the hearing or did not respond to requests for comment. Kevin Fromer, president of the Financial Services Forum, which represents the CEOs, said he expected Basel to be a focus. Big bank CEOs have been appearing before Congress for several years after the 2007-09 financial crisis and subsequent scandals thrust the industry into Washington's crosshairs. Former Wells Fargo CEO Tim Sloan, meanwhile, resigned in March 2019 after stumbling during a hearing about the bank's regulatory woes. But after years of playing defense, the CEOs are expected to be more assertive, this time backed by Republicans critical of red tape.

Persons: Andy Cecere, William Demchak, Jamie Dimon, Jane Fraser ,, Brian Moynihan, William Rogers, Wells, Bank of America's Brian Moynihan, Citi's Jane Fraser, Wells Fargo's Charles Scharf, Goldman Sachs, David Solomon, Morgan Stanley's James Gorman, Ronald O'Hanley, BNY Mellon's Robin Vince, Sherrod Brown, Brown, Kevin Fromer, Dimon, Elizabeth Warren, Tim Sloan, meanwhile, Tim Scott, Pete Schroeder, Nupur Anand, Tatiana Bautzer, Saeed Azhar, Lananh Nguyen, Michelle Price, Nick Zieminski Organizations: U.S . Bancorp, PNC Financial Services Group, JPMorgan Chase, Co, Citigroup, Jane Fraser , Bank of America, Truist Financial, JPMorgan, Bank of America, Bank of America's, Democratic, Silicon Valley Bank, Financial Services, Big, Former Wells, Republicans, Thomson Locations: WASHINGTON, Wells Fargo, Silicon, Basel, New York

☆ Goldilocks meets Santa as global stocks power to best month in three years
▼ + stars: | 2023-11-30 | by ( Naomi Rovnick | ) www.reuters.com time to read: +5 min

MSCI's world stock index (.MIWO00000PUS) is set to close the month up around 9%, its best performance since November 2020, when markets cheered the arrival of COVID-19 vaccines. Global bond prices have soared, with an ICE BofA index of global investment-grade bonds in major markets set to return 3.4% in November, the best month on record going back to 1997. Global growth stocks in high-tech sectors are up 11% (.dMIWO0000GNUS) while value stocks, which are mainly in cyclical industries and offer high dividends, have gained 6.5% (.dMIWO0000VNUS). And a cloudier outlook for stocks suggests a divergence could open up between again between stocks and bonds. The broader global index is set to return 1.6% for the year.

Persons: Joshua Roberts, That's, bode, Altaf Kassam, Wall, We've, Guy Miller, Joost Van Leenders, Van Lanschot Kempen, Van Leenders, Kassam, Naomi Rovnick, Yoruk Bahceli, Dhara Ranasinghe, Christina Fincher Organizations: Federal Reserve, REUTERS, U.S . Federal Reserve, European Central Bank, State Street Global Advisors, Traders, Fed, Insurance Group, Equity, Reuters Graphics Reuters, Treasury, Thomson Locations: Washington , U.S, COVID, U.S

A State Street Global Advisors banner is hung outside the New York Stock Exchange (NYSE) in New York, U.S., March 8, 2021. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsBOSTON, Nov 29 (Reuters) - State Street's (STT.N) asset-management arm will give retail investors an option to fully back corporate boards as it brings online features to allow fund shareholders to control their proxy voting rights, executives said. The option comes as State Street and rivals move to devolve proxy voting powers to shareholders on matters like director elections or environmental, social and governance (ESG) issues. But even that policy directed some proxy votes to be cast against boards' recommendations on governance questions like executive pay or share structure, said Lori Heinel, global chief investment officer at State Street Global Advisors. State Street Global Advisors manages $3.7 trillion in all.

Persons: Brendan McDermid, Lori Heinel, let's, Ross Kerber, Stephen Coates Organizations: Global Advisors, New York Stock Exchange, REUTERS, Rights BOSTON, Street, Street Global Advisors, Services, ISS, Republican, Thomson Locations: New York, U.S

☆ Investors can get a 5.6% yield with this 'first-rate' ultrashort bond ETF
▼ + stars: | 2023-11-22 | by ( Michelle Fox | ) www.cnbc.com time to read: +6 min

As investors hunt for yield, many are turning to actively managed exchange-traded funds focused on bonds, like Pimco's Enhanced Short Maturity Active ETF . The fund, which has a 5.6% 30-day SEC yield, is a "a first-rate ultrashort ETF," Morningstar senior analyst Paul Olmsted wrote in August. Trading under the ticker symbol MINT, the ETF holds fixed income securities with durations of no more than one year. In fact, investors flooded into the fund in October, making it the actively managed bond ETF with the highest inflows last month, according to FactSet. Investors can capture that higher yield on the short end of the yield curve, Schneider said.

Persons: Paul Olmsted, Morningstar, Jerome Schneider, Pimco's, Schneider, FactSet, Matthew Bartolini, It's, Treasurys —, who's Organizations: SEC, Morningstar, MINT, Street Global Advisors, Research, Federal Reserve, Treasury, Federal, Bear Stearns Locations: Pimco

☆ Why the Fed could be wrong — again — on its latest interest rate call
▼ + stars: | 2023-10-30 | by ( Jeff Cox | ) www.cnbc.com time to read: +6 min

"The Fed has never kept the target fed funds rate at peak levels for longer than nine months after a tightening cycle," Arone said. Nine months from now, at least based on history, the target fed funds rate is likely to be lower, not higher." He also sees lower rates ahead and pointed out the history of what happens with tight monetary policy. "The market is eager for lower rates or rate cuts. If the Fed has to rate cuts, it's likely because we're in recession or something in the capital markets is broken," he said.

Persons: Jerome Powell, aren't, Michael Arone, Powell, JPMorgan Chase, Jamie Dimon, Arone, Barry Sternlicht, —, I'm, They've, Thomas Ryan, Nick Elfner, Elfner, Breckinridge, Street's Arone Organizations: Federal, U.S, SPDR, State Street Global Advisors, Fed, JPMorgan, Starwood Capital, Future Investment Initiative, Capital Economics, Breckinridge Capital Advisors Locations: United States, Saudi Arabia, U.S, Breckinridge

☆ State Street CEO O'Hanley to take additional role as bank's president
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +1 min

The logo and trading symbol of financial services company State Street are displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 8, 2017. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsOct 30 (Reuters) - State Street Corp (STT.N) said on Monday its CEO and Chairman Ron O'Hanley will take on an additional role as the bank's president after Louis Maiuri retires, set for early next year. Maiuri also serves as State Street's chief operating officer and head of its largest business, investment services. The custodian bank said Mostapha Tahiri, currently head of Asia Pacific, Middle East and North Africa, will become chief operating officer, while O'Hanley will take the responsibility of the investment services unit. State Street is among the world's largest custodian banks with $40 trillion in assets under custody and/or administration and $3.7 trillion in assets under management (AUM) as of Sept 30.

Persons: Brendan McDermid, Ron O'Hanley, Louis Maiuri, Maiuri, Mostapha Tahiri, O'Hanley, Manya Saini, Krishna Chandra Organizations: New York Stock Exchange, REUTERS, Street Corp, Asia Pacific, Thomson Locations: New York, U.S, Middle East, North Africa, Bengaluru

☆ Debunking claims that a 'cartel' of asset managers controls major U.S. corporations
▼ + stars: | 2023-10-23 | by ( Ryan Ermey | ) www.cnbc.com time to read: +2 min

If you look up the top institutional investors in these firms, you will find major asset managers close to the top of the list. 2, and State Street is No. State Street, Vanguard and BlackRock are the top shareholders in Lockheed, in that order. Pfizer's top shareholders: Vanguard, BlackRock and State Street. That's because BlackRock makes money by collecting fees from its investors, not by reaping profits from the companies it invests in.

Persons: Lockheed Martin, Daniel Sotiroff Organizations: Apple, Lockheed, Pfizer, Vanguard, BlackRock, Morningstar Research Services, State Locations: BlackRock

Traders cheered the expected end of rate hikes that have raised borrowing costs from minus 0.5% in just over a year. That sent euro zone government bond yields tumbling, the euro down and stocks (.STOXX) higher. The ECB cut its outlook for euro area growth this year to 0.7%, while economists polled by Reuters expect growth of 0.6%. A market rally is also likely unwelcome to the ECB. Hawkish policymakers have started calling for an earlier end to PEPP reinvestments, and the ECB is likely to begin a debate on furthering its balance-sheet runoff with rate hikes likely done.

Persons: Charles Diebel, Simon Bell, Jason Simpson, Anna Stupnytska, reinvesting, Mediolanum's Diebel, reinvestments, Divyang Shah, Christine Lagarde, Shah, Yoruk Bahceli, Naomi Rovnick, Dhara, Dhara Ranasinghe, Hugh Lawson Organizations: European Central Bank, Traders, Reuters Graphics, Mediolanum Asset Management, ECB, Reuters, Legal, General Investment Management, State, Fidelity International, Thomson Locations: Italy, Germany

☆ This new dividend ETF offers investors income at a rock-bottom fee
▼ + stars: | 2023-09-13 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

Investors who are hungry for income have a new exchange-traded fund option on the market that comes with a low price tag. The SPDR Portfolio S & P Sector Neutral Dividend ETF (SPDG) launched this week and holds stocks in the S & P 1500 that have maintained or increased their dividends for at least seven consecutive years. For example, the SPDR S & P Dividend ETF (SDY) has an expense ratio of 0.35%, as does the ProShares S & P 500 Dividend Aristocrats ETF (NOBL) . It's even a bit lower than the 0.06% of the Vanguard High Dividend Yield Index ETF (VYM) . The fund's index, the S & P Sector-Neutral High Yield Dividend Aristocrats Index, has a dividend yield of 3.13%, according to State Street.

Persons: Matthew Bartolini, Bartolini Organizations: Vanguard, SPDR, SPDR Americas Research, Street Global Advisors, P, SEC Locations: financials, SPDR Americas

☆ Morning Bid: US stocks try to outrun the gloom
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +3 min

A sign is seen outside the 11 Wall St. entrance of the New York Stock Exchange (NYSE) in New York, U.S., March 1, 2021. REUTERS/Brendan McDermidA look at the day ahead in U.S. and global markets by Harry RobertsonIt's been a tough little patch for U.S. stocks, with the benchmark S&P 500 index (.SPX) falling for five of the last six sessions. Things look a little brighter this morning, with U.S. stock futures up slightly and European equities (.STOXX) rising in the morning session. Italy's decision to water down the bank tax which shook markets on Tuesday has helped restore some confidence, particularly in Europe. As of Wednesday, however, the greenback was on track for its fourth straight weekly increase - hardly a bullish sign for global markets.

Persons: Brendan McDermid, Harry Robertson It's, It's, we've, Timothy Graf, Street's Graf, Harry Robertson, David Evans Organizations: New York Stock Exchange, REUTERS, U.S, Reuters, Walt Disney Company, Thomson Locations: New York, U.S, Europe

☆ Stocks making the biggest premarket moves: Activision Blizzard, Chewy, Yelp, Tesla and more
▼ + stars: | 2023-07-17 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Chewy — Shares jumped more than 5% after Goldman Sachs upgraded them to buy from neutral. Paramount Global — Shares of the entertainment company fell 2.8% in premarket trading after the latest installment in the "Mission: Impossible" franchise underperformed expectations at the box office. State Street — The financial giant slipped about 2% in premarket trading. The stock was downgraded by JPMorgan to underweight from neutral following State Street's earnings release Friday. Figs — Shares of the apparel company fell 4.6% in premarket trading after Raymond James downgraded Figs to market perform from outperform.

Persons: Goldman Sachs, Morgan Stanley, Yelp, Goldman, Tesla, Raymond James, —, Jesse Pound, Hakyung Kim, Michael Bloom Organizations: Activision, Warfare, Microsoft, Sony, PlayStation, Activision Blizzard, PepsiCo, Paramount, Variety, Citi, JPMorgan, State Street's

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