Latest news with #StateStreetGlobalAdvisors
Boston Globe
a day ago
- Business
- Boston Globe
State Street consolidating Boston offices, pulling out of Fort Point
For at least the past five years, State Street has used One Channel Center as the headquarters of its asset management arm, which recently changed its name from State Street Global Advisors to State Street Investment Management. Sarnoski said the asset management division will move into two floors at One Congress, including one where a new trading desk is being built. Sarnoski said the primary reason for the office consolidation is to make the workforce more efficient, by putting more people under the same roof. Starting in the fall of 2023, State Street required workers to be in the office at least four days a week, one of the most aggressive post-COVID return-to-office mandates in the city. Advertisement 'The reason here [for the move] is purely we've seen the value of working in person,' Sarnoski said. 'It's been reinforced with our return-to-office mandate. ... It makes much more sense to have people in person in the same building.' Advertisement Cost savings, he added, is also a benefit, though not the driving force. State Street last week told investors it would take a $100 million charge to account for severance packages associated with layoffs of 900 people across its global workforce; the move out of One Channel Center is unrelated. (The company declined to say how many Massachusetts jobs were cut.) State Street still has several years left on its lease with landlord Tishman Speyer. Sarnoski said it's possible State Street will try to sublease the space, but the company is also talking about a deal to buy out the rest of the lease so Tishman Speyer can look at new tenants to fill the building, and offer a lease that lasts for longer than a few years. (State Street's lease expires at the end of 2029.) State Street is one of Boston's biggest employers, and there are only a few that could use an office building as large as 500,000 square feet. For comparison, Pawtucket, R.I.-based Hasbro and P&G's Boston-based Gillette division, two big employers currently considering moves in Boston, are seeking offices that are roughly half that size. Commonwealth Ventures and Ares Management began developing the building and its adjacent 970-space garage for State Street more than a decade ago. The building opened in late 2014, and it was Advertisement Tom Ready, a board member at the Fort Point Neighborhood Association, said the departure would have a relatively low impact on the surrounding neighborhood, in part because State Street employees have tended to use the corporate cafeteria instead of eating out at local restaurants. 'They've been consolidating their footprint over time and reducing the size of their workforce in Greater Boston,' Ready said of State Street. 'It's not a surprise to us that they're either moving out entirely or don't require the full building anymore. [But] it is a surprise they're leaving before their lease is up.' Jon Chesto can be reached at
Time of India
14-07-2025
- Business
- Time of India
Gold climbs over 1% on safe-haven bids as Trump imposes fresh tariffs
Gold prices rose more than 1 per cent on Friday as investors sought safe-haven assets following U.S. President Donald Trump's announcement of new tariffs, while silver reached its highest level in over 13 years. Spot gold gained 1 per cent to USD 3,356.93 per ounce by 2:43 p.m. EDT (1843 GMT), after touching its highest level since June 24 earlier in the session. U.S. gold futures closed up 1.4 per cent at USD 3,371.20. Global stocks fell after Trump ramped up his tariff assault on Canada, saying the U.S. would impose a 35 per cent tariff on imports next month and planned to impose blanket tariffs of 15 per cent or 20 per cent on most other trading partners. Trump this week also announced a 50 per cent tariff on U.S. copper imports and the same levy on goods from Brazil. "We are in an environment where the uncertainty premium is back in the market and gold is getting a safe-haven bid," said Aakash Doshi, global head of gold strategy at State Street Global Advisors. "I think the range in the third quarter is most likely between USD 3,100 and USD 3,500. It's been a very strong first half of the year, and I believe we're now in a bit more of a consolidation phase." Non-yielding gold tends to perform well during economic uncertainty and in a low interest rate environment. Federal Reserve Governor Christopher Waller on Thursday reaffirmed the possibility of a rate cut this month, with investors pricing in 50 basis points of cuts by year-end. Elsewhere, spot silver rose 3.9 per cent to USD 38.46 per ounce, its highest level since September 2011. The premium of the U.S. futures for silver, platinum and palladium against the London benchmarks rose after Trump's copper tariff announcement this week, leading to a spike in lease rates. "Traders unwound open positions on NYMEX/COMEX and had to borrow on the other side," said a precious metals trader, adding that this activity in the so-called white metals did not affect gold. Platinum gained 2.8 per cent to USD 1,399.13 and palladium climbed 6.5 per cent to USD 1,216.12. The rally in palladium is likely driven by speculation that Trump's upcoming " major" statement on Russia, expected on Monday, could involve sanctions that impact the metal, said Tai Wong, an independent metals trader. "Fundamentally palladium isn't great but if Russian supplies are interrupted this could run for a bit."
Business Recorder
12-07-2025
- Business
- Business Recorder
Gold climbs on safe-haven bids as Trump imposes fresh tariffs
NEW YORK: Gold prices rose more than 1% on Friday as investors sought safe-haven assets following US President Donald Trump's announcement of new tariffs, while silver reached its highest level in over 13 years. Spot gold gained 1% to $3,356.93 per ounce by 2:43 p.m. EDT (1843 GMT), after touching its highest level since June 24 earlier in the session. US gold futures closed up 1.4% at $3,371.20. Global stocks fell after Trump ramped up his tariff assault on Canada, saying the US would impose a 35% tariff on imports next month and planned to impose blanket tariffs of 15% or 20% on most other trading partners. Trump this week also announced a 50% tariff on US copper imports and the same levy on goods from Brazil. 'We are in an environment where the uncertainty premium is back in the market and gold is getting a safe-haven bid,' said Aakash Doshi, global head of gold strategy at State Street Global Advisors. 'I think the range in the third quarter is most likely between $3,100 and $3,500. It's been a very strong first half of the year, and I believe we're now in a bit more of a consolidation phase.' Non-yielding gold tends to perform well during economic uncertainty and in a low interest rate environment. Federal Reserve Governor Christopher Waller on Thursday reaffirmed the possibility of a rate cut this month, with investors pricing in 50 basis points of cuts by year-end. Elsewhere, spot silver rose 3.9% to $38.46 per ounce, its highest level since September 2011. The premium of the US futures for silver, platinum and palladium against the London benchmarks rose after Trump's copper tariff announcement this week, leading to a spike in lease rates. 'Traders unwound open positions on NYMEX/COMEX and had to borrow on the other side,' said a precious metals trader, adding that this activity in the so-called white metals did not affect gold. Platinum gained 2.8% to $1,399.13 and palladium climbed 6.5% to $1,216.12. The rally in palladium is likely driven by speculation that Trump's upcoming 'major' statement on Russia, expected on Monday, could involve sanctions that impact the metal, said Tai Wong, an independent metals trader. 'Fundamentally palladium isn't great but if Russian supplies are interrupted this could run for a bit.'
Yahoo
12-07-2025
- Business
- Yahoo
Gold climbs over 1% on safe-haven bids as Trump imposes fresh tariffs
By Anushree Mukherjee (Reuters) - Gold prices rose more than 1% on Friday as investors sought safe-haven assets following U.S. President Donald Trump's announcement of new tariffs, while silver reached its highest level in over 13 years. Spot gold gained 1% to $3,356.93 per ounce by 2:43 p.m. EDT (1843 GMT), after touching its highest level since June 24 earlier in the session. U.S. gold futures closed up 1.4% at $3,371.20. Global stocks fell after Trump ramped up his tariff assault on Canada, saying the U.S. would impose a 35% tariff on imports next month and planned to impose blanket tariffs of 15% or 20% on most other trading partners. [MKTS/GLOB] Trump this week also announced a 50% tariff on U.S. copper imports and the same levy on goods from Brazil. "We are in an environment where the uncertainty premium is back in the market and gold is getting a safe-haven bid," said Aakash Doshi, global head of gold strategy at State Street Global Advisors. "I think the range in the third quarter is most likely between $3,100 and $3,500. It's been a very strong first half of the year, and I believe we're now in a bit more of a consolidation phase." Non-yielding gold tends to perform well during economic uncertainty and in a low interest rate environment. Federal Reserve Governor Christopher Waller on Thursday reaffirmed the possibility of a rate cut this month, with investors pricing in 50 basis points of cuts by year-end. Elsewhere, spot silver rose 3.9% to $38.46 per ounce, its highest level since September 2011. The premium of the U.S. futures for silver, platinum and palladium against the London benchmarks rose after Trump's copper tariff announcement this week, leading to a spike in lease rates. "Traders unwound open positions on NYMEX/COMEX and had to borrow on the other side," said a precious metals trader, adding that this activity in the so-called white metals did not affect gold. Platinum gained 2.8% to $1,399.13 and palladium climbed 6.5% to $1,216.12. The rally in palladium is likely driven by speculation that Trump's upcoming "major" statement on Russia, expected on Monday, could involve sanctions that impact the metal, said Tai Wong, an independent metals trader. "Fundamentally palladium isn't great but if Russian supplies are interrupted this could run for a bit." Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
09-07-2025
- Business
- Yahoo
Should You Invest in the SPDR S&P Semiconductor ETF (XSD)?
The SPDR S&P Semiconductor ETF (XSD) was launched on 01/31/2006, and is a passively managed exchange traded fund designed to offer broad exposure to the Technology - Semiconductors segment of the equity market. Passively managed ETFs are becoming increasingly popular with institutional as well as retail investors due to their low cost, transparency, flexibility and tax efficiency. They are excellent vehicles for long term investors. Sector ETFs also provide investors access to a broad group of companies in particular sectors that offer low risk and diversified exposure. Technology - Semiconductors is one of the 16 broad Zacks sectors within the Zacks Industry classification. It is currently ranked 5, placing it in top 31%. The fund is sponsored by State Street Global Advisors. It has amassed assets over $1.32 billion, making it one of the larger ETFs attempting to match the performance of the Technology - Semiconductors segment of the equity market. XSD seeks to match the performance of the S&P Semiconductor Select Industry Index before fees and expenses. The S&P Semiconductor Select Industry Index represents the Semiconductor sub-industry portion of the S&P Total Markets Index. The S&P TMI tracks all the U.S. common stocks listed on the NYSE, AMEX, NASDAQ National Market and NASDAQ Small Cap exchanges. The Semiconductor Index is a modified equal weight index. When considering an ETF's total return, expense ratios are an important factor, and cheaper funds can significantly outperform their more expensive counterparts in the long term if all other factors remain equal. Annual operating expenses for this ETF are 0.35%, making it one of the least expensive products in the space. It has a 12-month trailing dividend yield of 0.28%. Even though ETFs offer diversified exposure which minimizes single stock risk, it is still important to look into a fund's holdings before investing. Luckily, most ETFs are very transparent products that disclose their holdings on a daily basis. This ETF has heaviest allocation in the Information Technology sector--about 99.50% of the portfolio. Looking at individual holdings, Credo Technology Group Holdi (CRDO) accounts for about 3.69% of total assets, followed by Rigetti Computing Inc (RGTI) and Microchip Technology Inc (MCHP). The top 10 holdings account for about 31.80% of total assets under management. The ETF has added about 6.26% so far this year and it's up approximately 1.37% in the last one year (as of 07/09/2025). In that past 52-week period, it has traded between $160.63 and $273.98. The ETF has a beta of 1.53 and standard deviation of 37.84% for the trailing three-year period, making it a high risk choice in the space. With about 43 holdings, it has more concentrated exposure than peers. SPDR S&P Semiconductor ETF holds a Zacks ETF Rank of 2 (Buy), which is based on expected asset class return, expense ratio, and momentum, among other factors. Because of this, XSD is a great option for investors seeking exposure to the Technology ETFs segment of the market. There are other additional ETFs in the space that investors could consider as well. IShares Semiconductor ETF (SOXX) tracks PHLX SOX Semiconductor Sector Index and the VanEck Semiconductor ETF (SMH) tracks MVIS US Listed Semiconductor 25 Index. IShares Semiconductor ETF has $13.61 billion in assets, VanEck Semiconductor ETF has $27.29 billion. SOXX has an expense ratio of 0.35% and SMH charges 0.35%. To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SPDR S&P Semiconductor ETF (XSD): ETF Research Reports Microchip Technology Incorporated (MCHP) : Free Stock Analysis Report VanEck Semiconductor ETF (SMH): ETF Research Reports iShares Semiconductor ETF (SOXX): ETF Research Reports Credo Technology Group Holding Ltd. (CRDO) : Free Stock Analysis Report Rigetti Computing, Inc. (RGTI) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
