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☆ Biden’s tariffs on Chinese imports are boosting these beaten-down stocks
▼ + stars: | 2024-05-17 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

Beaten-down clean energy stocks have rallied this week. The iShares Global Clean Energy exchange-traded fund, which tracks sectors from renewable electricity to semiconductors to solar energy, has gained roughly 3%. Plug Power shares have climbed 33%, Enphase Energy shares have gained 8% and NextEra Energy shares have added 4%. Some investors warn that though the tariffs could continue boosting clean energy stocks, the recent rally isn’t driven by just improving fundamentals. Damaging hacks expose the weak underbelly of America’s health care systemA pair of recent ransomware attacks crippled computer systems at two major American health care firms, disrupting patient care and exposing fundamental weaknesses in the US health care system’s defenses against hackers, reports my colleague Sean Lyngaas.

Persons: New York CNN — It’s, Joe Biden, CNN’s Kayla Tausche, ”, Steve Sosnick, Roaring Kitty, Keith Gill, Dow, Nicole Goodkind, stoking, Gary Pzegeo, ” Read, Sean Lyngaas, cybersecurity, ” Joshua Corman, Sen, Ron Wyden Organizations: CNN Business, Bell, New York CNN, Clean Energy, Enphase Energy, NextEra Energy, Biden, Federal Reserve, Interactive Brokers, CNN, GameStop, AMC Entertainment, Roaring, Dow Jones Industrial, Nasdaq, Markets, Bureau of Labor Statistics, CIBC Private Wealth, “ Industry, Oregon Democrat Locations: New York, China

☆ Reddit users are questioning if it's really Keith Gill behind the memes that sparked the latest GameStop rally
▼ + stars: | 2024-05-16 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

Reddit users this week have been questioning whether Keith Gill was behind Roaring Kitty's recent social media posts. The Roaring Kitty X account started tweeting for the first time in three years on Sunday, sparking a revival in GameStop stock. Reddit users have been speculating and debating the question since Gill's @TheRoaringKitty X account made its first post in three years on Sunday. AdvertisementGill did not reply to a request for comment sent by Business Insider via his other social media accounts. I'm sure we'll the the truth of the matter of who's running the account soon enough," another Reddit user said.

Persons: Keith Gill, Kitty, —, Gill, wasn't, @SCHL0MS, Polymarket, It's, Steve Sosnick Organizations: GameStop, YouTube, Service, Lamborghini, Google, Business, Polymarket, Remilia Corporation, Remilia, Interactive Locations: @TheRoaringKitty

☆ 'Someone played this beautifully': Why one expert is suspicious of the latest meme-stock revival
▼ + stars: | 2024-05-15 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

Deep out-of-the-money call options saw an explosion in trading volume just before the return of "Roaring Kitty." AdvertisementThe recent explosion in meme stocks like GameStop and AMC Entertainment looks suspicious, according to one market expert. Aside from the call options, GameStop stock has been gaining since late April, jumping about 60% from April 24 through March 10 despite no fundamental news on the company. "A suspicious person might wonder why 'Roaring Kitty' chose to return to social media today. The SEC filings in BBBY were boilerplate, and the social media post literally had no words.

Persons: Steve Sosnick, —, Sosnick, Kitty, Ryan Cohen, Cohen, it's Organizations: GameStop, Interactive, Service, AMC Entertainment, Interactive Brokers, Yahoo Finance, SEC Locations: Bath

☆ Trump Media has reawakened the meme stock monster as GameStop surges
▼ + stars: | 2024-05-14 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

New York CNN —We in the financial press tend to talk about the meme stock revolution (or craze, or frenzy, or mass delusion) in the past tense. Another meme stock, Trump Media and Technology Group, the Donald Trump-owned media company that controls Truth Social, brought back memories of the 2021 GameStop bonanza. With Trump Media, Trump supporters and other speculative traders pumped up the stock not for its (extraordinarily lousy) fundamentals, but more as a vote of support for the former president’s campaign and even a barometer of his winning chances. We’re not quite as exuberant today as we were then, but we’re still within spitting distance of all-time highs on major stock indices, Sosnick notes. In some ways, the arrival in the spring of Donald Trump’s media company reawakened the meme stock monster.

Persons: CNN Business ’, Wall, Keith Gill, Kitty, DeepF, Steve Sosnick, who’ve, Gill, Donald Trump, Donald Trump’s, DJT, ” Sosnick, Michael Pachter, David, Melvin Capital, Gabe Plotkin’s, ”, Plotkin, “ Organizations: CNN Business, New York CNN, GameStop, Interactive Brokers, Trump Media, Technology Group, AMC, Trump, Wedbush Securities Locations: New York

☆ Revival of Meme Stock Mania Continues for GameStop and AMC
▼ + stars: | 2024-05-14 | by ( Bernhard Warner | More About Bernhard Warner | ) www.nytimes.com time to read: +1 min

Wall Street is feeling meme stock déjà vu. The shares of the movie theater chain AMC Entertainment were similarly buoyant, and obscure cryptocurrencies named after Roaring Kitty and GameStop posted huge gains. Retail traders have been spurred on by the return of Roaring Kitty to social media after a three-year hiatus. Aside from Roaring Kitty’s return to social media, the rally was not driven by any evident news about GameStop or AMC. “Given my past experience in analyzing the periodic bouts of meme stock activity, consider me suspicious,” Sosnick wrote in a research note.

Persons: Keith Gill, Roaring, Gill, Steve Sosnick, ” Sosnick Organizations: GameStop, Netflix, AMC Entertainment, Retail, AMC, Interactive

☆ This chart shows just how absurd Trump Media's valuation is
▼ + stars: | 2024-05-08 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

It's well known that Trump Media stock trades at a premium valuation, but one chart shows just how absurd it is. AdvertisementA lot has been written about Trump Media and Technology Group's premium valuation, but one chart really helps put it into perspective. The social media company, founded by former President Donald Trump, has a market valuation of nearly $7 billion. Another way to value the profitless Trump Media is to compare its current market valuation to its monthly active user base. Since Trump Media's recent stock surge,that valuation has surged to $1,309 per Truth Social user, and at its peak in March, each Truth Social user was worth $1,794.

Persons: Donald Trump's, —, Donald Trump, Michael Cembalest, Alex W, Cembalest, Steve Sosnick, MAGA, Sosnick Organizations: Trump Media, Service, Technology, Truth, MSNBC, JPMorgan, Trump, Interactive Brokers Locations: 1,590x

☆ Meme stocks are back in fashion. Here's how to find one.
▼ + stars: | 2024-04-01 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're breaking down how to identify a meme stock . Three years after GameStop upended things, meme stocks are back in fashion. But how does one find a meme stock? (Trump Media doesn't technically qualify as a meme stock under Sosnick's criteria due to the amount of low short interest. Maintaining long-term support for a meme stock remains a tough nut to crack.

Persons: —, Mark Zuckerberg, Satya Nadella, Jenny Chang, Rodriguez, There's, Steve Sosnick, Business Insider's Matthew Fox, David Becker, Chelsea Jia Feng, Donald Trump's, Trump, Bill Gross, BI's Peter Kafka, there's, it's, Pedro Ribeiro Simões, …, Matt Chase, they're, OpenAI's Sam Altman, Sora, Meta, Tyler Le, Jack Canfield's, Jay Marine, Amazon's, Jeff Bezos, Antony Blinken, Emmanuel Macron, Dan DeFrancesco, Hallam Bullock, Grace Lett, Lisa Ryan Organizations: Business, Service, Getty, GameStop, Interactive, Business Insider's, Trump Media, Technology Group, AMC Entertainment, Big Tech, Hollywood, Facebook, NBA, FOX Locations: YOLO, hodlers, Silicon, Paris, Ukraine, Gaza, New York, London, Chicago

☆ The market trend is your friend and 'this trend has been extraordinarily powerful': Steve Sosnick
▼ + stars: | 2024-04-01 | 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 EmailThe market trend is your friend and 'this trend has been extraordinarily powerful': Steve SosnickSteve Sosnick, Interactive Brokers chief strategist, joins 'Closing Bell Overtime' to discuss the state of the market rally and what to expect going into earnings season.

Persons: Steve Sosnick Steve Sosnick Organizations: Interactive Brokers

☆ Now is probably a good time to hedge against downside risk in the stock market. Here are 4 ways you can protect your portfolio — including 2 that are historically cheap.
▼ + stars: | 2024-03-31 | by ( William Edwards | ) www.businessinsider.com time to read: +7 min

But with the market at an all-time high, now is probably a good time to hedge against potential downside, experts say. That's especially the case because there's an elevated degree of risk facing stocks, and the cost of some insurance measures is historically cheap. Related storiesThe S&P 500 also looks overextended on a technical basis, according to many measures. AdvertisementRosenberg Research"The definition of a stretched market is one when the S&P 500 gaps 14% or more above the 200-day trendline. Beyond extreme, in fact — back to 1928, the S&P 500 has only drifted this far above the moving average 7% of the time," Rosenberg said.

Persons: Jim Smigiel, they've, Louis Fed, Phillip Colmar, Colmar, David Rosenberg, Rosenberg, Steve Sosnick, we're, Smigiel, Sosnick Organizations: Service, Nvidia, Microsoft, Bank of America's, Survey, Bank of America, SEI, Fed, Louis Fed Inflation, MRB Partners, Rebels, Rosenberg Research, Interactive Brokers Locations: Ukraine, Russia, Israel, Palestine, Suez

☆ 4 reasons why Wall Street fears that Nvidia's hard-earned gains could go up in smoke
▼ + stars: | 2024-02-27 | by ( James Faris | ) www.businessinsider.com time to read: +8 min

In the last 15 months, Wall Street analysts have hailed generative AI as the most impactful innovation in decades and compared its theoretical impact to that of the internet. While the full impact of AI isn't clear yet, companies are under immense pressure to convince investors that they're not falling behind. "We can't envision any of these large cloud companies or consumer companies pulling back on AI spending anytime soon," Colello said. UBS"This is not always a harbinger of slowing revenue growth and a concentrated H200/B100 launch could be adding to near-term opex," Arcuri wrote in a recent note. AdvertisementDespite what Nvidia's recent performance suggests, Wall Street is notoriously tough to please.

Persons: —, Morgan Stanley, Steve Sosnick, Wedbush's Dan Ives, who's, Marcelli, they're, Sosnick, Brian Colello, Colello, They're, we're, Vivek Arya, Arya, Michael Landsberg, Landsberg, Jason Draho, Draho, Timothy Arcuri, Arcuri Organizations: Service, Wall Street, Business, Nvidia, Interactive, Bulls, Bank of America, Wedbush Securities, UBS, UBS Global Wealth Management, Morningstar, Landsberg Bennett, Wealth Management

☆ Nvidia's climb shows how important the stock is to the overall market: Steve Sosnick
▼ + stars: | 2024-02-22 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNvidia's climb shows how important the stock is to the overall market: Steve SosnickSteve Sosnick, Interactive Brokers chief strategist, joins 'Closing Bell Overtime' to talk his call on Nvidia and his take on Wednesday's earnings reaction.

Persons: Steve Sosnick Steve Sosnick Organizations: Interactive Brokers, Nvidia

☆ 'There's very little margin for error': 7 strategists explain why the Goldilocks narrative is in trouble — but these 8 investments are still worth making now
▼ + stars: | 2024-02-16 | by ( James Faris | ) www.businessinsider.com time to read: +9 min

Investors are pricing in a best-case outcome where earnings rise and inflation returns to normal in a continued economic expansion. “It’s a tough needle to thread,” said Steve Sosnick, the chief strategist at Interactive Brokers. “And that pretty much pulls forward almost all the returns, in our minds, for 2024.”AdvertisementCrit Thomas, a global market strategist at Touchstone Investments, has the same concern. “And so at 21x earnings, there’s very little margin for error here.”AdvertisementFourth-quarter earnings mostly met measured expectations , as did forward guidance. Clark Bellin, the chief investment officer at Bellwether Wealth, said he’s less worried about valuations broadly and is more interested in seeing which sectors look cheap.

Persons: —, ”, Solita Marcelli, “, Sameer Samana, Steve Sosnick, It’s, Steven Wieting, “ We’ve, Crit Thomas, “ I’m, ” Thomas, We’re, Chris Galipeau, ” Galipeau, ” Sosnick, we’ve, Liz Ann Sonders, Schwab, ” Sonders, there’s, Clark Bellin, he’s, ” Bellin, you’re, Stocks, Samana, won’t, Thomas, Wieting, Bellin, “ They’ve, they’re Organizations: Service, Business, UBS Global Wealth Management, Federal Reserve, Wells, Wells Fargo Investment Institute, Interactive, Citi Global Wealth’s, Touchstone Investments, Franklin Templeton Institute, Citi Global Wealth, Bellwether Wealth Locations: Wells Fargo, Samana, ” Samana, Galipeau

☆ These were the most traded stocks and options heading into Christmas, Interactive Brokers says
▼ + stars: | 2023-12-27 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

Interactive Brokers on Tuesday compiled a list of its 25 most traded stocks and options between Dec. 18 and Dec. 22. They also put in more than 62,000 Tesla options orders. Other heavily traded stocks include Nvidia , crypto mining company Marathon Digital and Advanced Micro Devices . They also traded more than 32,000 Nvidia options orders, along with 14,694 for Marathon and over 16,000 for AMD. Clarification: This story has been updated to reflect the data refers to stock and options orders.

Persons: Steve Sosnick, Tesla, it's, Sosnick Organizations: Interactive, Nvidia, Marathon, Devices, Traders, AMD, Nasdaq, Dow Jones

☆ Nvidia is the stock of the year. Can it last?
▼ + stars: | 2023-12-05 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +10 min

New York CNN —It would be an understatement to say that it’s been a good year for Nvidia. The California-based chipmaking giant has seen its shares soar about 220% this year, making it the top performing S&P 500 stock in 2023. What’s happening: Just before Thanksgiving, Nvidia crushed doubts that its star was fading by reporting gangbuster third quarter earnings. By Sosnick’s count, Nvidia executives mentioned AI at least 70 times on their most recent earnings call. Historically, Nvidia has had hard falls after missteps — between 2021 and 2022, shares of the stock fell by 66%.

Persons: Hannah de Wolf, Colette Kress, There’s, ”, Steve Sosnick, we’ve, Nvidia …, Dan Ives, Goldman Sachs, Piper Sandler, Harsh Kumar, Sarat Sethi, DCLA, Sethi, it’s, missteps, hasn’t, Matt Egan, Robert Jackson Jr, Joshua Mitts, “, Mitts, it’s “, ” Mitts, Jackson, Catherine Cortez Masto, Biden, Cortez Masto, “ I’m, Todd Young, Tim Kaine, Mark Warner, Rand Paul, Mitch McConnell, Bill Hagerty, Marsha Blackburn ,, Joe Manchin, Roger Marshall, Katie Britt Organizations: CNN Business, Bell, New York CNN, Nvidia, Revenue, Nvidia can’t, Washington Service, Interactive, CNBC, Columbia University, New York University, Israel, Fund, SEC, NYU, …, CNN, US, EU, Indiana Locations: New York, California, China, Wedbush, Israel, Gaza, Columbia, Nevada, American, Virginia, Kentucky, Tennessee, Marsha Blackburn , West Virginia, Joe Manchin , Kansas, Alaska

☆ Berkshire Hathaway vice chairman Charlie Munger dies at 99
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +12 min

Nov 28 (Reuters) - Charlie Munger, the longtime vice chairman and second-in-command to Warren Buffett at Berkshire Hathaway (BRKa.N), died on Tuesday morning at a California hospital. For stock-pickers like us to lose Charlie Munger, would be like if you’re a basketball fan and you lose Bill Russell. "I wouldn't think Berkshire will look much different, apart from Buffett no longer being able to share ideas with Munger. CATHERINE SEIFERT, VICE-PRESIDENT, CFRA RESEARCH, NEW YORK“Berkshire Hathaway shareholders are not going to be directly or negatively impacted from the passing of Charlie Munger. Therewass already a transition plan in place and there's a transition plan in place when Warren Buffett passes away.

Persons: Charlie Munger, Warren Buffett, Charlie, WHITNEY TILSON, BRIAN MOYNIHAN, Charlie Mungerwass, ” BURNS MCKINNEY, Bill Russell, ”, Berkshire Hathaway, ” PHIL ORLANDO, FEDERATED HERMES, BILL, Buffett, Munger, PHILLIP, —, STEVE SOSNICK, “, ” WIN MURRAY, DIAMOND, MARY JO, BILL SMEAD, Warren, ” “ Buffett, Todd Combs, Ted Weschler, ” PAUL LOUNTZIS, Greg Abel, I've, you'll, STEPHEN DODSON, hewass, ” PAUL NOLTE, FOR MURPHY, Warren Buffet, they've, QUINCY KROSBY, RICK MECKLER, CHERRY, NEW VERNON, Hewass, obviouslywass, DOUG KASS, ” THOMAS RUSSO, GARDNER RUSSO, QUINN, CATHERINE SEIFERT, he's, ” ANTHONY SAGLIMBENE, THOMAS HAYES Organizations: Berkshire Hathaway, COOK, APPLE, WHO, KASE, OF, FEDERATED, Berkshire, ” WIN, THE BRETTON, SAN, SYLVEST, NEW, Buffett, GREAT, Global Finance, Markets, Thomson Locations: California, Munger, Berkshire, American, DALLAS , TEXAS, GLENVIEW, CALIFORNIA, CONNECTICUT, DIAMOND HILL, COLUMBUS , OHIO, PHOENIX, ” “ Berkshire, , PENNSYLVANIA, ELMHURST, IL, CHARLOTTE, NC, CHERRY LANE, NEW JERSEY, LANCASTER , PENNSYLVANIA, Munger . Berkshire, TROY , MICHIGAN, GREAT HILL

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNEW YORK, Nov 24 (Reuters) - Signs the U.S. stock market rally is broadening from the so-called Magnificent Seven of mega-cap growth and technology companies is bolstering investor hopes for a rally through year-end. In one encouraging sign, about 55% of the S&P 500 were trading above their 200-day moving averages as of Monday. Among other signs, the equal-weight S&P 500 (.SPXEW) -- a proxy for the average stock in the index -- rose 3.24% last week. The equal-weight S&P 500 is trading at a 5% discount to its 10-year average forward price-to-earnings ratio, according to Edward Jones. Still, there are reasons to think that the market rally is not on the verge of a sustained broadening.

Persons: Brendan McDermid, Adam Turnquist, Meta, Russell, Mona Mahajan, Edward Jones, ” Mahajan, Steve Sosnick, Jason Draho, David Randall, Lewis Krauskopf, Saqib Iqbal Ahmed, Megan Davies, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Federal, LPL, Microsoft, Nasdaq, Interactive Brokers, UBS Global Wealth Management, Thomson Locations: New York City, U.S, Treasuries

☆ Homebuilder stocks could get another boost from rate hikes ending
▼ + stars: | 2023-11-17 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

New York CNN —For over a year, the red-hot housing market has been at the mercy of the Federal Reserve’s rate hikes, which have driven mortgage rates to sky-high levels. Mortgage rates have hovered above 7% since August, according to Freddie Mac data. Both those factors have helped create a scorching-hot housing market and a boom in homebuilder stocks, as Americans turned to building as a buying alternative. Moderating bond yields could change the narrative for the housing market. Tight supply and elevated mortgage rates this year made home purchases the least affordable they’ve been since 1984.

Persons: Bell, Freddie Mac, Toll, DR Horton, Lennar, Price, Steve Sosnick, ”, John Petrofsky, Chris Isidore, Danielle Wiener, Bronner, haven’t, Clare Duffy, Donie, Meta Organizations: CNN Business, Bell, New, New York CNN, Homeowners, DR, Federal, Treasury, Interactive, National Association of Home Builders, FBB Capital Partners, Starbucks, United Auto Workers, SAG, Writers Guild of America, Starbucks Workers United, Facebook, Street, Washington Post Locations: New York, Wells Fargo, Buffalo , New York, United States, Brazil, Israel, Italy

☆ China-linked ETFs draw bullish options bets ahead of Biden-Xi meet
▼ + stars: | 2023-11-15 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +3 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 15, 2023. Other large China-focused ETFs, including the iShares MSCI China ETF (MCHI.O), KraneShares CSI China Internet ETF (KWEB.P), also showed upbeat options activity, according to Trade Alert data. "It certainly seems that there is generally bullish positioning ahead of the meeting," said Steve Sosnick, chief strategist at Interactive Brokers, noting that the positions had been built up over several days. Reuters GraphicsInvestors' nascent enthusiasm for Chinese stocks is at odds with how these ETF's have performed this year. Daniel Kirsch, head of options at Piper Sandler, said recent bullish options flows into KWEB may be to do with a combination of enthusiasm ahead of the Biden-Xi meeting as well as results from Chinese e-commerce companies JD.com and Alibaba .

Persons: Brendan McDermid, Joe Biden's, Xi Jinping, Steve Sosnick, Biden, Xi, Sosnick, Daniel Kirsch, Piper Sandler, JD.com, Kirsch, Saqib Iqbal Ahmed, Suzanne McGee, Ira Iosebashvili, Jonathan Oatis Organizations: New York Stock Exchange, REUTERS, U.S, iShares, KraneShares CSI China Internet, Interactive, Federal, Economic Cooperation, Reuters Graphics Investors, Research, Biden, Thomson Locations: New York City, U.S, China, KraneShares, San Francisco, Asia

☆ Some of the trillions parked in cash may trickle back in to stocks now that the market's rallying
▼ + stars: | 2023-11-15 | by ( Bob Pisani | ) www.cnbc.com time to read: +5 min

2023: The year of chasing yield Investors historically chase after stock performance, but 2023 has been the year of chasing after yield performance. This year, the combined assets under management at money market funds grew to a record $6 trillion. There have been large inflows into short-term Treasury funds like the Vanguard Short-Term Treasury ETF (VGSH) and, surprisingly, even into long-term Treasury ETFs like the iShares 20+Year Treasury Bond ETF (TLT). Still, some think a large chunk of the money in short-term Treasuries and money markets is "scared money" and will be "sticky." Those institutional investors "Don't want any money in cash because it will lag behind the stock market," he told me.

Persons: Paul McCulley, they're, Mark Lehman, Eric Balchunas, Jeff Seyffart, Alec Young, Steve Sosnick, Jim Besaw, Besaw, Mike O'Rourke, JonesTrading, Matt Maley, Miller Tabak, Chris Murphy Organizations: Federal, CNBC, Citizens JMP Securities, Treasury, Treasury Bond ETF, Bloomberg, Schwab Money Fund, MapSignals, Interactive Brokers, Gentrust, UBS Locations: Susquehanna

☆ Cryptoverse: As good as gold? Spot bitcoin ETFs aim to whip up US demand
▼ + stars: | 2023-10-31 | by ( Suzanne Mcgee | ) www.reuters.com time to read: +5 min

Mainstream investment giants such as BlackRock (BLK.N) and Fidelity, as well as crypto-focused firms like Grayscale, have filed applications for spot bitcoin ETFs. U.S. crypto firm NYDIG estimates demand for a spot bitcoin ETF at around $30 billion. Their calculation compares the sizes of the gold and bitcoin ETFs - $210 billion versus $28.8 billion, respectively - and adjusts them for their relative volatility. BlackRock declined to comment on its pending spot bitcoin ETF, other than to confirm that it is still awaiting final SEC approval. His forecast is based on how demand evolved in smaller markets where spot bitcoin ETFs already exist, such as Canada.

Persons: Dado, Dave Mazza, George Gagliardi, cryptocurrencies, bitcoin, Todd Sohn, Steven McClurg, Crypto, Matthew Sigel, Matthew Hougan, Steve Sosnick, Suzanne McGee, Ira Iosebashvili, Michelle Price Organizations: REUTERS, Roundhill Investments, Fidelity, U.S . Securities, Exchange, Coromandel Wealth Management, Strategas Securities, Boston Consulting, BlackRock, SEC, Bitwise Investments, Interactive, Thomson, Reuters Locations: U.S, BlackRock, Lexington , Massachusetts, Canada

☆ Treasury yields are sky high. Here's why you should care
▼ + stars: | 2023-10-20 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

It’s no longer “higher for longer,” said Steve Sosnick, chief strategist at Interactive Brokers, it’s just “high for long.”What’s happening: 10-year Treasury yields are flirting with 5% for the first time since 2007, before the global financial crisis. It also means more expensive mortgage rates. Mortgage rates tend to track the yield on 10-year US Treasuries. When Treasury yields go up, so do mortgage rates; when they go down, mortgage rates tend to follow. Fed officials, including Powell, have indicated that rates could be high enough to help lower inflation towards their target goal of 2%.

Persons: ”, Steve Sosnick, Rob Almeida, Powell, they’re, Jerome Powell, Paul McCartney, Darrell Cronk, Anna Bahney, —, ” Lawrence Yun, Snapchat isn’t, Snapchat, Clare Duffy, Evan Spiegel Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Interactive, MFS Investment Management, US Treasury, Treasury, Economic, of New, Financial, “, National Association of Realtors, NAR, Twitter Locations: New York, Ukraine, of New York, Wells Fargo, Northeast, Midwest, South, homeownership

☆ Options traders see larger-than-usual stock swings as banks report results
▼ + stars: | 2023-10-12 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +2 min

REUTERS/Mike Segar/File Photo Acquire Licensing RightsNEW YORK, Oct 12 (Reuters) - Options traders are braced for larger-than-usual post-earnings stock price swings for some U.S. banks, despite signs of cooling volatility in broader markets, options data showed. Big banks, including JPMorgan (JPM.N), Wells Fargo (WFC.N) and Citigroup Inc (C.N) are set to report financial results on Friday, with others, including Goldman Sachs (GS.N) and Morgan Stanley (MS.N), due next week. The biggest U.S. consumer lenders are set to post higher third-quarter profits, in contrast with investment banks still facing a dealmaking slump, analysts said. Options data shows traders braced for a larger-than-usual post-earnings move from Wells Fargo in particular. The options-implied earnings move for Goldman Sachs, Morgan Stanley, Bank of America (BAC.N) and Citigroup also signal a larger-than-usual post-earnings swing, data from Trade Alert showed.

Persons: JP Morgan Chase, Mike Segar, Goldman Sachs, Morgan Stanley, Mike Santomassimo, Steve Sosnick, Saqib Iqbal Ahmed, Richard Chang Organizations: JP, Co, REUTERS, JPMorgan, Citigroup Inc, U.S, Traders, Bank of America, Citigroup, Trade, Interactive, Thomson Locations: New York, Wells Fargo

☆ Valkyrie Funds to add 'ether' futures in exchange-traded fund after SEC approval
▼ + stars: | 2023-09-28 | by ( Suzanne Mcgee | ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSept 28 (Reuters) - Investment manager Valkyrie Funds LLC has begun adding ethereum futures to its existing Bitcoin futures exchange-traded fund, after getting the green light from the U.S. Securities and Exchange Commission (SEC), the company said on Thursday. The renamed Valkyrie Bitcoin and Ether Strategy ETF (BTF.O) will launch on Monday, Valkyrie's chief investment officer Steven McClurg told Reuters. Rival asset managers VanEck and ProShares are looking to offer pure ether futures ETFs, in contrast to Valkyrie's hybrid ETF. The SEC's decision to drop long-held objections to ether futures ETFs is a boost for the crypto industry, which has been pushing the agency to expand the types of crypto ETFs they can offer. Media reports that the SEC was poised to approve ether futures ETFs appears to have been boosting the token's price.

Persons: Dado Ruvic, Bitcoin, Steven McClurg, McClurg, VanEck, Steve Sosnick, Suzanne McGee, Michelle Price Organizations: REUTERS, U.S . Securities, Exchange Commission, SEC, Strategy, Reuters, Media, Interactive, Thomson

Cboe declined to say whether those relations happened while Tilly was CEO or prior to his tenure at the helm. His resignation is the latest in a string of high-profile exits by CEOs whose personal conduct ran afoul of company policy. "When he became CEO, he grew that business from a little options exchange to a global, fintech and exchange leader. Cboe has exclusive rights to list flagship contracts linked to the Standard & Poor’s 500 stock index through 2032. "The silver lining is it doesn't look like it is related to strategic or financial issue for the company," Lau said of the CEO resignation.

Persons: Edward Tilly, Piper Sandler, Brendan McDermid, Cboe, Fredric Tomczyk, Tilly, Andrew Bond, Bond, Owen Lau, Lau, Rosenblatt's Bond, Steve Sosnick, Sosnick, Tomczyk, " Lau, Jaiveer Singh, Laura Matthews, Saqib Iqbal Ahmed, Arun Koyyur, Michelle Price, Megan Davies, Bill Berkrot, Nick Zieminski Organizations: CBOE, Inc, Piper Sandler Global Exchange, FinTech Conference, REUTERS, Rosenblatt Securities, Oppenheimer & Co, THE, Interactive, U.S . Securities, Exchange Commission, Thomson Locations: New York City, U.S, Bengaluru, New York, Lincoln

☆ Arm Holdings options to come to market starting Monday
▼ + stars: | 2023-09-15 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +2 min

Nasdaq plans to list options on Arm Holdings across all six of its exchanges, a spokesperson for the exchange said on Friday. Other options exchange operators, Cboe Global Markets (CBOE.Z) and Intercontinental Exchange's (ICE.N) New York Stock Exchange, did not immediately respond to a Reuters request for comment on their own plans to list ARM options. "I have every reason to believe that when ARM options are listed they will be very popular," Steve Sosnick, chief strategist at Interactive Brokers, said. Arm Holdings is of significant interest to retail investors, Dan Raju, chief executive at online brokerage firm Tradier, said. I expect the listing of options to also see an initial surge in options activity followed by a tapering," he said.

Persons: Dado Ruvic, Steve Sosnick, Sosnick, Dan Raju, Saqib Iqbal Ahmed, Richard Chang Organizations: REUTERS, SoftBank's, Holdings, Nasdaq, Arm Holdings, Cboe, New York Stock Exchange, ARM, Interactive, Facebook Inc, Facebook, Thomson Locations: New

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