Exchange-Traded Funds Higher, Equity Futures Mixed Pre-Bell Tuesday Ahead of Key Market Data
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CNBC
23 minutes ago
- CNBC
Main Street investors are running the show this year, not Wall Street
Institutional investors are once again playing catch up with retail traders, according to JPMorgan. Mom and pop, retail investors have bought newly crowned meme stocks like OpenDoor for months, according to the Wall Street investment bank. But only recently have big investors also jumped into this trade. The bet has paid off: After seven straight losing months, OpenDoor posted a dizzying rally of 245% in July, and is up another 30% so far in August. OPEN 3M mountain OpenDoor shares over the past 3 months This marks only the latest example of small investors leading the charge this year, according to Arun Jain, a global markets strategist at the bank. "As an interesting pattern within 'Meme' stocks ... retail buying in prior months is followed by non-retails joining the trade more recently," Jain wrote to clients in a Wednesday note. "This is in line with our reading on the broader market." Jain also pointed to retail investors "buying the dip" following President Donald Trump's initial wave of higher tariffs in April. Those investors benefited when stocks rallied after Trump later said he would delay many of those charges. The S & P 500 has jumped almost 19% since the closing low on April 8, less than a week after the original tariff announcement on April 2 . .SPX 6M mountain The S & P 500, 6 months Big investors aimed to regain ground via higher-beta plays, Jain said. As a result, he found high-beta crowding to be at an all-time high and thinks this corner of the market could be due for a pullback. Right now, retail traders are showing a preference for exchange-traded funds such as the SPDR S & P 500 ETF Trust (SPY) and SPDR S & P 500 ETF Trust (QQQ) over single stocks, according to JPMorgan data. But not all ETFs are getting the same treatment. Jain said the iShares Semiconductor ETF (SOXX) and the Direxion Daily Semiconductor Bull 3X Shares (SOXL) ETF were both among the most sold on a net basis over the past week.
Business Wire
4 hours ago
- Business Wire
Altius Receives Final Silicon Royalty Arbitration Award
ST. JOHN'S, Newfoundland and Labrador--(BUSINESS WIRE)-- Altius Minerals Corporation (TSX: ALS) (OTCQX: ATUSF) Altius Minerals Corporation ('Altius') has received a final award decision by an arbitration tribunal relating to the extents of its royalty interests within the emerging Silicon gold district (Arthur Gold district) in Nevada. The tribunal has determined that the lands that are subject to the Altius 0.5% NSR royalty under the royalty agreement between the parties dated Feb. 20, 2015 include the entirety of those encompassed within the 26.8 km 2 base area of interest (base AOI) described in the royalty agreement and also additional areas around the base AOI that total approximately 168.8 km 2, for a combined royalty area within the district that totals approximately 195.6 km 2. The final award meets the royalty area requirement set out in the recent sales agreement between Altius and Franco-Nevada Corporation for a 1.0% NSR royalty that is to cause an additional US$25 million contingent payment to Altius, following the expiry of any relevant appeal or challenge periods. A map that depicts the royalty area provided for under the final award can be found on our website at About Altius Altius's strategy is to create per share growth through a diversified portfolio of royalty assets that relate to long life, high margin operations. This strategy further provides shareholders with exposures that are well aligned with global growth trends including increasing electricity based market share within energy usage, global infrastructure build and refurbishment growth, increased EAF based steelmaking, steadily increasing agricultural fertilizer requirements and the enhanced appetite for financial asset diversification through precious metals ownership. These macro-trends each hold the potential to cause higher demand for many of Altius's commodity exposures including potash, high purity iron ore, renewable energy, base metals, and gold. In addition, Altius runs a successful Project Generation business that originates mineral projects for sale to developers in exchange for royalties and that has a demonstrated track record of driving outsized direct returns from its overall royalty investment portfolio. Altius has 46,315,304 common shares issued and outstanding that are listed on Canada's Toronto Stock Exchange. It is a member of both the S&P/TSX Small Cap and S&P/TSX Global Mining Indices and the S&P/TSX Canadian Dividend Aristocrats Index.
Bloomberg
4 hours ago
- Bloomberg
Market Already Feels Like a Melt Up, Ed Yardeni Says
00:00 If the Fed were to cut by 50 basis points next month, would you change your view? Would you see this as something other than a head fake? Well, I think with then I would just say we're in a melt up. I mean, it feels like a multiple already. We've seen this the correction at the early at the beginning of the year, we've seen multiples go from 22 forward P for the S & P 500 at the beginning of the year, down to 18. We didn't get down to 15, we didn't get down to ten. The market figured out and kind of agreed with me that the economy was resilient and we're not going to have a recession. And when it did that, suddenly boom, we went right back up to 22. And so the market ain't cheap. And the reality is, if the Fed cuts when there's still, as you said, a lot of ambiguity about whether it really needs a cut, it doesn't really need a 50 basis point cut, let a 25 basis point cut. The administration needs interest rates to come down because they'd like to see the interest cost of the debt come down. But the economy, I think, is going to surprise everybody in the next few months, especially the consumer, as you also indicated, and show some resilience on the consumer part and capital spending. A lot of it is technology related that's going to continue to go. And so I think, you know, as the drums beat for more rate cuts here and we're probably now going to get one in September, and then there'll be expectations for another one after that before the end of the year. I think we're in melt up situation. So, you know, right now I'm still kind of sticking with 6600 and the S & P 500. But by year end, because I, I think there's still a couple of indicators here that might suggest that maybe the Fed shouldn't be lowering rates, but absent that, we could go right back to 60 907,000 by the end of the year in a melt up situation. And the problem with melt ups is that followed by meltdowns.
