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By contrast, both funds received their highest monthly net inflows of 2023 in June, gaining $265.5 million and $29.74 million, respectively, according to Lipper data. But AI stocks have suffered along with broader markets in recent weeks, as Treasury yields hovering around 16-year highs dull investors' risk appetite. Retail investor flows into the sector have also cooled as the initial fervor surrounding AI wanes. September saw the lowest net monthly retail flows of $1.96 billion into AI-linked stocks since April, according to Vanda Research. "It is possible this negative sentiment could reverse again in Q4, particularly if large cap tech stocks like Nvidia held in AI-themed tech ETFs continue to show strong earnings growth," CFRA's Ullal added.
Persons: Dado Ruvic, Aniket, Mark Haefele, Bansari Mayur, Ira Iosebashvili, Mark Potter Organizations: REUTERS, Robotics, Intelligence, Global Robotics, Automation, CFRA Research, Vanda Research, Global, Nvidia, UBS Global Wealth Management, Thomson, & $ Locations: Bengaluru
CNN —Longtime Boston Red Sox pitcher Tim Wakefield died Sunday morning at age 57, the team announced in a news release. “Our hearts are broken with the loss of Tim Wakefield,” the Red Sox posted on X on Sunday. His 186 victories in his Red Sox career are just six behind team record-setters Young and Roger Clemens. At his retirement announcement in February 2012, Wakefield said all he ever wanted to do was to help the Red Sox be champions. “Tim’s kindness and indomitable spirit were as legendary as his knuckleball,” said Red Sox owner John Henry.
Persons: CNN —, Tim Wakefield, Wakefield, of Famer David Ortiz, , , Bob Ryan, Roberto Clemente, Cy Young, Young, Roger Clemens, Wakefield’s, Yoon, John Henry, Rob Manfred, Manfred, Tim, ” Manfred, Curt Schilling, Schilling, ” Wakefield, Stacy, Trevor, Brianna Organizations: CNN, CNN — Longtime Boston Red Sox, Red Sox, Red Sox Nation, Sox, of Famer, Wakefield, Pittsburgh Pirates, American League, MLB, Sporting News, ” Red Sox, Boston Globe, Red Sox Foundation, Boston Red Sox, Cancer, Pirates Locations: ,
CNN —Calgary Flames assistant general manager Chris Snow died on Saturday following his battle with ALS, his wife Kelsie Snow announced. “The National Hockey League family is deeply saddened by the passing of Calgary Flames Assistant General Manager Chris Snow, a remarkable man whose courageous and relentless battle with ALS has been an inspiration to so many,” NHL commissioner Gary Bettman said in a statement. Prior to his time with the Flames, Snow was a sports reporter for the Boston Globe, where he covered the Boston Red Sox, and the Minneapolis Star-Tribune, where he covered the Minnesota Wild. Following his time as a journalist, Snow worked as a director of hockey operations for the Wild from 2006 through 2010. He is survived by his wife Kelsie, his son Cohen, and his daughter Willa.
Persons: Chris Snow, Kelsie Snow, Chris, ” Snow, Lou Gehrig’s, “ Chris, Craig Conroy, Kelsie, Cohen, Willa, , Gary Bettman, Snow Organizations: CNN — Calgary Flames, ALS, Flames, ” Flames, National Hockey League, Calgary Flames, NHL, Club’s Hockey, Boston Globe, Boston Red Sox, Minneapolis Star, Tribune Locations: Minnesota
REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsSept 26 (Reuters) - Approvals on new exchange-traded funds, including bitcoin spot ETFs, could face delays if the U.S. government shuts down next month for the fourth time in a decade. "I'm not sure if ETFs that have been filed for approval can move forward with the government shutdown," said Todd Rosenbluth, head of research at VettaFi. "This would just delay yet another decision on the never ending spot Bitcoin decision," said Todd Sohn, ETF and technical strategist at Strategas Securities. "ETFs are just pass through vehicles ... impact on the underlying markets will obviously impact ETFs," said Hector McNeil, co-CEO and founder of HANetf. "People will also probably pause if they're about to launch (new ETFs) and wait for steady waters."
Persons: Dado Ruvic, Exchange Commission's, Gary Gensler, I'm, Todd Rosenbluth, Todd Sohn, Hector McNeil, Bansari Mayur, Ira Iosebashvili, Anil D'Silva Organizations: REUTERS, Securities, Exchange, SEC, Strategas Securities, Thomson Locations: U.S, Bengaluru
But they’re also rewarding the stores that are betting big on the right trends at the right time, for the right price. Mejuri: The Toronto-based jewelry retailer has intentionally positioned itself as a go-to destination for Millennials and GenZers for affordable fine jewelry. “When we founded the business, we wanted to redefine luxury and bring it a new experience within the fine jewelry industry,” said Masad. We just wanted to make fine jewelry part of everyday wear. We saw no reason for why there should be a barrier between fine jewelry and our customer.”He said Mejuri hasn’t wavered from that goal.
Persons: aren’t, they’re, , Jharonne Martis, , Neil Saunders, Marshal Cohen, ” Abercrombie, Andrew Kelly, Saunders, Abercrombie, Fran Horowitz, Lulu, Circana’s Cohen, Noura Sakkijha, Majed Masad, Zach Hilty, Mejuri hasn’t, “ There’s, It’s, TJ, TJ Maxx, TJ Maxx's, David L, Ryan, Aaron Sorensen Organizations: New, New York CNN, Abercrombie, Fitch, , CNN Business, TJ Maxx, TJ, Boston Globe, Lotis, Consulting Locations: New York, Toronto
Retail executives generally agree that retail theft is worse than they've ever seen. Even so, leaders from Costco, Lowe's, Best Buy, and Tractor Supply have said their businesses aren't so affected. The companies have five striking similarities that are helping them win the war on retail theft. "Organized retail crime is worse now than I've ever seen it," Tractor Supply CEO Hal Lawton told Insider in August. Meanwhile, a typical Tractor Supply location may have as many as eight people working in a relatively small, 20,000 square-foot store.
Persons: Hal Lawton, I've, Marvin Ellison, Corie Barry, Richard Galanti, We've, Lawton, Dominick Reuter, John Tlumacki, Ben Tobin, they're, Paul Hennessy, Lowe's, Mario Tama, Barrie, Ellison Organizations: Costco, Lowe's, Tractor Supply, Service, Goldman Sachs, Conference, Supply, Massachusetts Costco, Boston Globe, Getty, Electronics, Retailers, Tractor Locations: Wall, Silicon, Massachusetts, Costco, Orlando
Insider Today: The hottest job markets
  + stars: | 2023-09-23 | by ( Diamond Naga Siu | ) www.businessinsider.com   time to read: +7 min
Speaking of change and mobility, if you're looking for a new job, we have an inside look at how competitive job hunting currently is. Justin Sullivan/Getty ImagesBad news for job hunters: You're competing with more people for a job now, compared with the same time period one or two years ago. AdvertisementAdvertisementHowever, data from LinkedIn shared with Insider comparing job vacancies with active applicants paints a more complex image. Rankings were based on job market and work conditions, affordability, crime and safety, workplace diversity, and health and leisure. The Insider Today team: Dan DeFrancesco, senior editor and anchor, in New York City.
Persons: Justin Sullivan, there's, Rand, Mike Steinitz, Robert Half, Steinitz, you've, Hoshino, Craig F, Walker, Pano Christou, Arantza Pena Popo, Gen Alpha, Brittany Chang, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Companies, LinkedIn, Ministry of Justice, Hoshino Resorts, Brussels Airlines, Cambridge, Harvard University, Boston Globe, Getty Images, Getty Locations: Wall, Silicon, New York City, San Diego, United States, Japan, Pomfret , Vermont, Brussels, England, Massachusetts, Rhode Island, New Hampshire, situationships, Salem, Kansas, London, New York
The VanEck Office and Commercial REIT ETF fell 4.8% on Thursday after the U.S. Federal Reserve stiffened its hawkish monetary policy stance, slamming the real estate sector and the Real Estate Investment Trusts (REITs) that invest in them. Real estate stocks have struggled this year as the Fed's rapid rate hikes make financing properties more expensive, curbing demand. ETFs tracking broader REITs such as Schwab US REIT and Vanguard Real Estate Index have fallen 4.4% and 5%, respectively, so far this week, while the S&P 500 real estate index (.5SP60) is on track to post weekly losses of 4.7%. "For the discerning investor, the current situation might just be the contrarian opportunity they've been waiting for," said VanEck in its blog about the ETF. Office REITs like Boston Properties (BXP.N) and Kilroy Realty (KRC.N) are down 10% and 15%, respectively, so far this year.
Persons: Schwab, they've, they're, Aniket, Bansari Mayur, Kirsten Donovan Organizations: U.S . Federal Reserve, Real, Investment, Schwab US, Vanguard, Boston, Kilroy Realty, CFRA, Thomson Locations: Bengaluru
CEO Andrew Bialecki told Insider that being a "disciplined company" was key to its success. Jeff Bussgang, a general partner at Flybridge Capital Partners in Boston, told The Boston Globe in an interview, "I'm seeing green shoots — it's definitely back on the agenda for boards." KlaviyoBialecki told Insider he tried to run a "disciplined company," one of two ingredients to its success. "There's a false choice here between being high growth and doing things efficiently," Bialecki told Insider. Are you a Klaviyo insider with insight to share?
Persons: Klaviyo, Andrew Bialecki, Bialecki, Tomasz Tunguz, Jason Lemkin, Jeff Bussgang, — it's, Ed Hallen, it's, Hallen, Klaviyo Bialecki, That's, Klaviyo Bootstrapping, Jon Karlen, Karlen, Melia Russell Organizations: Service, Klaviyo, New York Stock Exchange, Flybridge Capital Partners, Boston Globe, Securities and Exchange Commission, Boston Locations: Wall, Silicon, Instacart, Boston, BostInno, Massachusetts, mrussell@insider.com
Prince William will touch down in New York on Monday for a two-day visit – primarily to attend the second Earthshot Prize Innovation Summit. William and Kate visit Câr-Y-Môr Seaweed Farm, a key partner of 2022 Earthshot Prize winner Notpla, in St. Davids, Wales on September 8, 2023. “In addition to unveiling this year’s Earthshot finalists next week, you’re also going to see Prince William sitting down with the UN Secretary-General and other world leaders… This really is the evolution of Prince William as the global statesman,” a close aide said. This trip’s timing also appears to be quite fortuitous, in that it comes weeks after Prince William topped a new poll as America’s most popular public figure. A huge crowd of well-wishers greets the Prince of Wales while in Massachusetts last December.
Persons: London CNN —, Prince William, , Prince of Wales, William, Kate, Câr, Notpla, Arthur Edwards, Queen Elizabeth II, , you’re, , Joe Biden, Volodymyr Zelensky, King Charles, Biden, Donald Trump, Prince, David L, Ryan, Duke of Cambridge, King, “ You’ve, Andrzej Duda Organizations: CNN’s Royal, London CNN, CNN, UN, Assembly, Royal Foundation, Boston, Gallup, Republicans, Boston Globe, British Locations: London, New York, Singapore, St . Davids , Wales, , Beantown, Wales, Massachusetts, Boston, Poland, Ukraine, Russian
"I hadn't even appealed because I didn't even know what it was for," Via told Insider. AdvertisementAdvertisementIn arbitration, Instacart unsuccessfully tried to argue that it could disregard the agreement that it asks shoppers to signVia filed a request for arbitration in January 2022. David L. Ryan/The Boston Globe via Getty ImagesOnce a shopper requests arbitration proceedings, they must wait 30 days "to resolve the dispute before arbitration commences," Instacart told Insider. But the arbitrator said Via wasn't aware of the extra item until the following day when Instacart deactivated his account. "I can read it and figure out what makes sense and what I can argue and what doesn't make sense," he told Insider.
Persons: Jason Via, I've, that's, Instacart, Via, Aureen Chowdhury, Annie T, David L, Ryan, you've, Uber Organizations: Service, Walmart, Via, Shoppers, Boston Globe, Getty, Instacart, ICA Locations: Wall, Silicon, Instacart, Los Angeles, Washington
CNN —People aren’t buying furniture like they used to. Last week, a pair of furniture retailers said they are experiencing a massive sales slump compared to last year. On Friday, shares of RH (RH) fell 16%, while Hooker Furnishings (HOFT) dropped 17%. The two companies are the latest in a growing list of furniture retailers seeing a slowdown after years of growth fueled by pandemic-era stay-at-home trends. Wayfair, an online furniture seller, saw its second-quarter revenue decline 3.4%, and La-Z-Boy, a furniture manufacturer, reported a 20% drop in sales in August.
Persons: Hooker, David L, Ryan, ” Williams, Laura Alber, Brad Thomas, ” Thomas, , Gary Friedman, Thomas, Bob Williams, Chris Moye, ” Hooker, Jeremy Hoff, Organizations: CNN, West Elm, Boston Globe, KeyBanc, Home, Target, Mortgage, Association Locations: Virginia, Wayfair, Williams, Sonoma, Lynnfield
How Classical Composers Made Music After the Holocaust
  + stars: | 2023-09-02 | by ( Kira Thurman | ) www.nytimes.com   time to read: +2 min
Perhaps she’d learned them in the early days after the war, when she’d performed with Holocaust survivors at a hospital in 1945. Jansen does not appear in Jeremy Eichler’s new book, “Time’s Echo,” but the impulse to turn to music during and after the Holocaust is at the heart of it. Eichler, The Boston Globe’s chief classical music critic, suggests that music can help us remember what we’ve lost. “Time’s Echo” is an engrossing recovery project that reveals the depths of Europe’s ability — and inability — to mourn those losses. Not only do we remember music but, just as importantly, “music also remembers us,” Eichler argues.
Persons: Jeremy Eichler, Fasia Jansen, Brecht, she’d, Jansen, Jeremy Eichler’s, Eichler, we’ve, , Richard Strauss’s “, ” Arnold Schoenberg’s “, ” Benjamin Britten’s “, , Dmitri Shostakovich’s “ Babi Yar, ” Eichler, , ” Schoenberg Organizations: The Boston, Central Locations: German, Hamburg, Neuengamme, Warsaw, Europe
Andrew Bialecki is preparing to take Boston startup Klaviyo public eleven years after founding it. Bialecki, who cofounded the marketing tech company in 2012, owns more than a third of Klaviyo, according to the company's recent S-1 filing. In the last eleven years, the 37-year-old has quietly built the hottest Boston startup you've never heard of. For comparison, HubSpot's Brian Halligan and Toast's Chris Comparato reported salaries of roughly $240,000 before taking their Boston startups public. Bialecki has also sold few shares of Klaviyo in inside rounds, according to two people familiar with the company's financials.
Persons: Andrew Bialecki, Jason Lemkin, Peter Walker, Klaviyo, Yankee frugality, Barry Chin, Ed Hallen, Hallen, Bialecki, Alexa von, TJ Mahony, he's, Elias Torres, Bootstrapping, Jon Karlen, Karlen, Mahony, Alex Clayton, frugality, HubSpot's Brian Halligan, Toast's Chris Comparato Organizations: Boston Globe, Getty, MIT's Sloan School of Management, Capital, Harvard University, Predictive Technologies, Fortune, Red Sox, Meritech Capital, Boston, Black, Patriots Locations: Boston, Coast, Bialecki, Washington, DC, Klaviyo, Braze, Miami
Her joke was no laughing matter, and the painting is now estimated to fetch as much as $250,000 at auction in September. According to specialists at Bonhams Skinner auction house, the seller unknowingly purchased the work at a Savers thrift store in Manchester, New Hampshire, while searching for frames to reuse. The Wyeth painting had been stashed against a wall along with mostly damaged posters and prints, according to the auction house. Bonhams Skinner auction house expects the painting to fetch between $150,000 and $250,000 at September's auction. Auction house specialists believe the publishing company Little, Brown and Company may have passed the work along to an editor or to the author’s estate.
Persons: Wyeth, Skinner, Bonhams Skinner, Lauren Lewis, Andrew Wyeth, Jamie Wyeth, Lewis, ” Lewis, CNN Wyeth, Helen Hunt, Ramona, , Brown, Paul Allen’s, Andrew Wyeth’s Organizations: The Art, CNN, Boston Globe, Globe, Microsoft, Christie’s Locations: Maine, Manchester , New Hampshire, N.C, York
The company hit the headlines in December 2021 after it laid off 900 employees via Zoom, and has since seen its profit dented by high mortgage rates that have dampened demand for home loans. "Here is an example of the exact wrong company at the wrong time - SPACs are hated and anything related to mortgage lending is hated at the moment," said Thomas Hayes, chairman at Great Hill Capital. U.S. mortgage rates have extended their surge as government bond yields rally. The popular 30-year fixed rate hit its highest level since 2000 last week, causing mortgage applications to hit a 28-year low. Amid ultra-low interest rates, the SPAC market exploded in 2021, but has since sputtered amid rising interest rates, high redemption rates and increased regulatory scrutiny.
Persons: SoftBank, Vishal Garg, Thomas Hayes, Bansari Mayur, Hannah Lang, Sriraj Kalluvila, Marguerita Choy Organizations: Home, Finance, Aurora, Corp, U.S . Securities, Exchange Commission, Great, Thomson Locations: Great Hill, Bengaluru, Washington
The mall as a retail concept is alive and well, with retailers pivoting to fit the demands of a digital age. A shopper carries retail bags while walking through a shopping mall in Columbus, Ohio, U.S., on Friday, Dec. 10, 2021. A socially conscious generation acutely aware of climate change, Gen Z is also more likely to support brands prioritizing sustainability. That in-store experience is so critical.”People stroll through a shopping mall in Foxborough, Massachusetts, on May 18, 2023. “There has been a rise in ‘experience-focused’ tenants in shopping malls that offer experiences like go-karting, trampolining, virtual reality, and arcades,” said ICSC vice president Stephanie​ Cegielski.
Persons: Coresight, , Deborah Weinswig, Brandon Isner, CBRE’s, Kirsten Lee, ” It’s, ” Coresight, Tal Yellin, Isner, Luke Sharrett, Stephen Yalof, Warby Parker, Allbirds, Al Drago, Lee, Gen, Gen Zers, Erin Clark, it’s, Stephanie ​ Cegielski, Covid, Organizations: New, New York CNN — Retail, Coresight Research, Retail Research, Brookfield Properties, , Simon Property Group, Taubman Centers “, Tanger Outlets, CNN, Bloomberg, Getty, Tanger, Washington , D.C, International Council of Shopping Centers, “ Social, Boston Globe Locations: New York, Americas, Brookfield, Nashville , Tennessee, Chelsea , New York, Columbus , Ohio, U.S, Georgetown, Washington ,, , Foxborough , Massachusetts
Katie MoggKatie Mogg is a Dow Jones News Fund reporting intern and part of the summer 2023 newsroom intern class at The Wall Street Journal. Katie is a senior at Northeastern University studying journalism. She previously worked as a correspondent on the metro desk of the Boston Globe, where she wrote more than 100 stories and reported on everything from local politics to the World Cup. She also served as the lifestyle editor of her campus newspaper, the Huntington News.
Persons: Katie Mogg Katie Mogg, Katie Organizations: Dow Jones News Fund, Wall Street, Northeastern University, Boston Globe, Huntington News
Consumers Credit Union Frequently Asked QuestionsHow long does Consumers Credit Union take to approve a loan? Consumers Credit Union TrustworthinessConsumers Credit Union is a Better Business Bureau-accredited business that has an A+ grade. Consumers Credit Union CompetitorsHow Consumers Credit Union compares Consumers Credit Union Auto LoanPenFed Auto LoanNavy Federal Auto Loans Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Borrowers who pay a one-time $5 membership fee to the Consumers Cooperative Association qualify for membership with Consumers Credit Union. Navy Federal's minimum rates are more competitive than Consumers Credit Union, but you'll need an excellent credit score to qualify for them.
Persons: You'll, hasn't, Ryan Wangman Organizations: Consumers Credit Union Auto Loan, Consumers Credit, Credit Union, Consumers Credit Union, Consumers Credit Union Auto, Consumers Cooperative Association, Consumers Cooperative Association ., Auto Loan, Auto, Social, Chevron, Consumers, Union, Auto Loan Navy Federal Auto Loans, . Navy, Navy, Department of Defense, Finance, Northwestern University, Boston Globe Locations: Chicago
An Idaho Teacher of the Year says she fled the state after conservatives and parents attacked her. She said she was harassed for her support for the LGBTQ+ community and Black Lives Matter. The teacher told The Boston Globe teachers are leaving the job because they don't feel valued. Karen Lauritzen, 44, told The Boston Globe she was named 2023 Idaho Teacher of the Year last September and started the school year with high hopes. It's to make kids into the best versions of themselves," Lauritzen told the Globe.
Persons: Karen Lauritzen, Lauritzen, baselessly, It's Organizations: Boston Globe, Service, Globe, Idaho Tribune, Conservative State, Trump, College Board AP Locations: Idaho, Wall, Silicon, Illinois, Post Falls , Idaho, Colorado, Florida
Single-family homes in Arlington, Massachusetts. Around 75% of residential land in the United States is zoned for single-family homes only. This has had the effect of encouraging ever-larger single-family homes and limiting housing options, like smaller houses. “You can’t just do it all with zoning reform,” Walla Walla City Manager Elizabeth Chamberlain told CNN. The second wave of single-family zoning laws spread during the 1970s, historians say, and the policies became more restrictive.
Persons: Suzanne Kreiter, , Jenny Schuetz, , , Ben McCanna, Joe Biden’s, Richard Kahlenberg, Kathy Hochul’s, Elizabeth Chamberlain, “ It’s, Nancy Kaye, William Fischel, Fischel, Carlos Avila Gonzalez, Yonah Freemark, we’re, ” Freemark Organizations: New, New York CNN, Boston Globe, Brookings Metro, Republicans, Portland Press Herald, Getty Images, , CNN, Homes, , Dartmouth University, Homeowners, San Francisco Chronicle, AP, Pew Charitable Locations: New York, Arlington , Massachusetts, United States, , Maine, Getty Images Minneapolis, Arlington , Gainesville, Charlotte, Walla Walla , Washington, Oregon , California, Washington , Montana, Connecticut , Arizona, ” Walla Walla City, Cities, Louisville , Kentucky, Flushing , Queens, America, San Francisco, Los Angeles , New York City, Seattle, Chicago , Philadelphia, Portland, Washington, Walnut Creek , California, Minneapolis, Portland , New Rochelle , New York, , Virginia, Towns, Walla, Walla Walla
An Asian MIT student was shocked when an AI tool turned her white for a professional headshot. She said she's been put off using AI image tools for now because it didn't create usable results. A recent study showed that some AI image generators have issues with gender and racial bias. The second image showed that the AI tool had altered her features to appear more Caucasian with lighter skin and blue eyes. The researchers explained that this is because the AI tool was trained on biased data which can amplify stereotypes.
Persons: she's, Rona Wang –, , Wang, Suhail Doshi, we're, Face, DALL, didn't Organizations: MIT, Boston Globe, Globe, Twitter Locations: American
And yet, the industry is currently battling the highest level of unfilled job openings ever recorded. The construction industry averaged more than 390,000 job openings per month in 2022, the highest level on record, while unemployment in the sector of 4.6% was the second lowest on record. "Commercial construction materials prices are now 40% higher than they were back in February 2020. For construction workers, pay is boomingFor workers who seek construction jobs, the timing has never been better. "The construction industry is now paying 80% more than the average non-farm job in the United States."
Persons: Anirban Basu, Maria Davidson, Lori Ann Larocco, Davidson, it's, Michael Elder, Rucha Vankudre, It's, Brian Turmail, Turmail, doesn't, we've, Vankudre Organizations: Associated Builders and Contractors, ABC, MBTA, Boston Globe, General Contractors of America, . Census Locations: U.S, Boston, United States
Americans began to grapple with a nationwide epidemic of child abuse in Catholic parishes and other religious organizations in 2002, after a landmark Boston Globe investigation revealed a pattern of misdeeds and cover-ups in Boston that went back decades. Ten years earlier, Sinead O’Connor became a pop culture pariah in the United States for an on-air protest intended to raise awareness of the same problem. The backlash to her actions — tearing up a picture of Pope John Paul II on “Saturday Night Live” and then shouting “Fight the real enemy!” — was swift. Prominent Americans, including celebrities like Madonna and Joe Pesci, denounced her. Catholic leaders were outraged, including some who were forced to resign years later for their roles in covering up abuse.
Persons: Sinead O’Connor, Pope John Paul II, , Madonna, Joe Pesci Organizations: Boston Globe, Protesters, Rockefeller Center . Catholic Locations: Boston, United States
REUTERS/Dado Ruvic/Illustration/File PhotoJuly 24 (Reuters) - Meme stocks have surged in the last few weeks as retail investors shun pricier stocks for cheaper speculative names, but some experts worry that this could choke the current rally in broader markets. At a time when the wider rally has made some stocks, especially in the tech space, too expensive, the return of meme stocks is offering retail investors a more affordable option to participate in 2023's market rebound and pocket big returns. Roundhill's Meme index (.MEME) hit a one-year high last week and was last up 60% for 2023 so far, dwarfing gains of more than 18% recorded by the benchmark S&P 500 (.SPX). Retail investors poured in $1.27 billion per day on average into U.S. equities in July, closing in on the all-time record of $1.5 billion a day in March, Vanda Research said. The meme index consists of 25 equal-weighted U.S.-listed stocks with a combination of elevated social media activity and high short interest.
Persons: Dado Ruvic, Thomas Hayes, Vanda, Dennis Dick, Bansari Mayur, Lance Tupper, Devika Organizations: REUTERS, NYSE, Microsoft, Great, Vanda Research, Triple D, AMC Entertainment, AMC, Thomson Locations: Great Hill, Bengaluru, New York
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