Latest news with #StateStreetInvestmentManagement
Business Insider
2 days ago
- Business
- Business Insider
What investors should be listening for in Jerome Powell's Jackson Hole speech
Tensions in the market are running high ahead of Jerome Powell's remarks at the Fed's Jackson Hole policy symposium. The Fed chairman is expected to give fresh insight into the central bank's plans for rate cuts. Investors have a lot riding on what Powell says on Friday, as coming rate cuts are thought to be bullish for stocks. However, uncertainty is once again creeping up after a mixed bag of economic data slightly lowered the odds of a cut. The CME FedWatch Tool shows an 85% chance of a cut next month, compared to 99% a week ago. Michael Arone, chief investment strategist at State Street Investment Management, says told Business Insider that investors should be listening for a few big themes from the Fed chief. Powell's tone Arone says he'll be focused on how Powell could use the platform to signal a potential shift in the central bank's monetary policy, and this should be top of mind for investors tuning in. "I think the biggest thing that investors should be looking for is [the] type of language where Powell suggests that the Fed is moving from moderately restrictive policy to more neutral policy," he told Business Insider. Arone said that he thinks the biggest shift will center around that topic, and that investors should also pay attention to language around the balance of risks in regards to the Fed's dual mandate of lowering inflation and boosting the labor market. "I think that the one from moderately restrictive to more neutral is the key phrase and the balance of risks is another often key signal, suggesting that the balance of risks have moved to a level where it's more appropriate to cut rates," he said. That said, Arone predicted that if Powell signals the possibility of a September rate cut, he will likely remain fairly cagey regarding what will follow in subsequent meetings. Even if interest rate cuts are coming, the market's reaction may be mixed As Arone sees it, Powell will likely use his speech from Jackson Hole to reveal that the policy shift investors have been waiting for is coming. "I believe that he will suggest that it's time to move towards a more neutral target, and that that will likely resume in September," he stated, adding that if he does not, markets will likely tumble. Despite Trump's constant criticism, Arone doesn't think Powell will opt for rate cuts because of political pressure. Instead, he believes that the Fed chairman will continue relying on economic data and monitoring the impact of tariffs on inflation. While Arone also predicted that markets will likely react well to the signal that interest rate cuts are coming, he thinks that the longer-term effect could be more complicated, particularly if Powell opts against providing much detail beyond plans for next month's meeting. "It'll be interesting to see how markets react to that," he said. "They may want more specific guidance on future monetary policy, and I believe that Chairman Powell will be reluctant to give it." Arone added that if Powell doesn't signal a shift toward more rate cuts, he expects a negative reaction, with volatility spiking in the stock market. .
Mint
3 days ago
- Business
- Mint
Wall Street steady, European shares rise as investors digest Ukraine peace efforts
By Alun John and Rocky Swift LONDON/TOKYO -Wall Street opened flat, European stocks rose and oil edged down on Tuesday as traders assessed the implications of the previous day's talks at the White House on the war in Ukraine, and looked ahead to a key meeting of central bankers. U.S. President Donald Trump told President Volodymyr Zelenskiy on Monday that the United States would help guarantee Ukraine's security in any deal to end Russia's war there, though the extent of any assistance was not immediately clear. Trump said on Tuesday he hoped Russia's Vladimir Putin would move forward on ending the war in Ukraine but conceded the Kremlin leader may not want to make a deal. Uncertainty about what it all might mean kept investors cautious, and Wall Street opened mixed with the S&P 500 flat in early trading, the tech-heavy Nasdaq Composite down 0.44% and the Dow Jones Industrial Average up 0.4%. Europe's broad STOXX600 index rose 0.5%, outperforming Asian stocks, which fell slightly. Europe's gains were capped by declines in defence names, off 3%, however, as traders saw the talks as a change to take profit in the sector after a strong run. If there were to be a breakthrough in talks, "I think European stocks are likely the biggest winners, and within that framework, I think industrial companies, construction for rebuilding materials, and financial companies," said Michael Arone, chief investment strategist at State Street Investment Management. Losers could be shares in energy and defence after their recent gains, he said. Energy markets were also assessing the chance of an end of the war in Ukraine, and oil prices fell on speculation that progress in the talks could lead to the lifting of sanctions on Russian crude, lifting supply. [O/R] The moves were not dramatic though, and some analysts said developments were unlikely to jolt oil and gas markets significantly. Brent crude futures were down 57 cents at 66.06 a barrel, with U.S. crude down 77 cents at $62.65. The other main event for markets this week is the Federal Reserve's August 21-23 Jackson Hole symposium, where Chair Jerome Powell is due to speak on the economic outlook and the central bank's policy framework. His remarks will be closely watched as the Fed grapples with sticky inflation and signs of slowing growth. Futures markets imply at least two 25 basis point rate cuts this year, reflecting a view that the Fed will not view inflation as a long term problem. In addition, Trump has been pressuring the Fed to cut rates dramatically, and has publicly speculated about replacing Powell before his term ends next year. "The question is to what degree is the Fed happy to ignore the inflation data because they think it is distorted by tariffs," said Ian Samson, portfolio manager at Fidelity International. "If you look out one year, you're not going to have Powell as Fed chair, there are a couple of governors to replace, so the balance is clearly going towards people who are willing to look through tariffs, and thus continue to lower interest rates." Such a scenario would likely bode well for equities, help shorter dated government bonds, and weigh on the dollar, though the impact for longer dated bonds is less clear, said Samson, adding that he was largely avoiding the long end of the U.S. yield curve. Longer dated yields around the world have been rising in recent months. German and British 30-year yields have tested multi-decade highs, and the latter rose sharply late on Monday. [GB/] Bond markets were calmer on Tuesday. U.S., German and British government bond yields were all lower across their respective curves, with the benchmark 10 year Treasury yield down 3 basis points at 4.31%. [US/] [GVD/EUR] In currency markets, the dollar was a touch softer against most other currencies, with the euro up 0.1% at $1.1672. [FRX/] Gold was a fraction firmer at $3,335 an ounce. [GOL/] This article was generated from an automated news agency feed without modifications to text.
Yahoo
3 days ago
- Business
- Yahoo
Should You Invest in the SPDR NYSE Technology ETF (XNTK)?
The SPDR NYSE Technology ETF (XNTK) was launched on September 25, 2000, and is a passively managed exchange traded fund designed to offer broad exposure to the Technology - Broad 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 - Broad is one of the 16 broad Zacks sectors within the Zacks Industry classification. It is currently ranked 5, placing it in top 31%. Index Details The fund is sponsored by State Street Investment Management. It has amassed assets over $1.24 billion, making it one of the larger ETFs attempting to match the performance of the Technology - Broad segment of the equity market. XNTK seeks to match the performance of the NYSE Technology Index before fees and expenses. The NYSE Technology Index is composed of 35 leading U.S.-listed technology-related companies. Costs Expense ratios are an important factor in the return of an ETF and in the long term, cheaper funds can significantly outperform their more expensive counterparts, other things remaining the same. 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 0.32%. Sector Exposure and Top Holdings 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 70.6% of the portfolio. Consumer Discretionary and Telecom round out the top three. Looking at individual holdings, Palantir Technologies Inc A (PLTR) accounts for about 5% of total assets, followed by Uber Technologies Inc (UBER) and Netflix Inc (NFLX). The top 10 holdings account for about 34.69% of total assets under management. Performance and Risk So far this year, XNTK has gained about 20.99%, and is up roughly 28.52% in the last one year (as of 08/19/2025). During this past 52-week period, the fund has traded between $164.461 and $246.83. The ETF has a beta of 1.32 and standard deviation of 26.43% for the trailing three-year period. With about 37 holdings, it has more concentrated exposure than peers. Alternatives SPDR NYSE Technology 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, XNTK 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. Technology Select Sector SPDR ETF (XLK) tracks Technology Select Sector Index and the Vanguard Information Technology ETF (VGT) tracks MSCI US Investable Market Information Technology 25/50 Index. Technology Select Sector SPDR ETF has $85.15 billion in assets, Vanguard Information Technology ETF has $100.28 billion. XLK has an expense ratio of 0.08%, and VGT charges 0.09%. Bottom Line 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 NYSE Technology ETF (XNTK): ETF Research Reports This article originally published on Zacks Investment Research ( Zacks Investment Research
Sky News AU
14-08-2025
- Business
- Sky News AU
Unemployment rate sinks in July as female participation rate sets record high, Australian Bureau of Statistics reveals
The unemployment rate sank to 4.2 per cent in July as the rate of female participation in the economy grew to a record high. Fresh data from the Australian Bureau of Statistics showed the number of female full-time workers was up 40,000 while male workers were up by 20,000 in July. The participation rate, which measures the share of working age Australians either working or looking for work, increased to 67.1 per cent. It held steady at 70.8 per cent for men and increased to 63.5 per cent for women. The female participation rate set a record in January when it hit 63.4 per cent which it also hit in April. It has slowly grown from about 59 per cent over the past decade and sank to its lowest point of 57.2 per cent in 2020 when the pandemic forced businesses to close down. The employment-to-population ratio jumped to 60.9 per cent for women, also hitting a new high. Oxford Economics Australia's head of macroeconomic forecasting Sean Langcake said the employment growth was mainly concentrated in full time positions in July. "This helped boost hours worked and contributed to a tick down in the underemployment rate," Mr Langcake said in a statement. He noted that Australia's historically low unemployment rate has defied the broader economic slowdown, however, this is likely to change in the near-term future. "Today's data are reassuring in that they suggest conditions are not deteriorating quickly," Mr Langcake said. "Nevertheless, weak economic momentum and global uncertainty will be strong headwinds for the labour market to overcome through the rest of the year." State Street Investment Management's APAC economist Krishna Bhimavarapu echoed Mr Langcake's sentiment about an upcoming rise in the unemployment rate. "Labour market data held steady today, but signs point to a potential uptick in the unemployment rate over the next year," Mr Bhimavarapu said. The fall follows unemployment unexpectedly rising to 4.3 per cent in June in revelation that shocked economists and sparked backlash against the Reserve Bank of Australia's controversial July rates decision.
Time of India
05-08-2025
- Business
- Time of India
Cryptocurrency Live News & Updates : State Street Partners with Stablecoin Standard for Crypto Education
05 Aug 2025 | 11:55:17 PM IST State Street Investment Management has teamed up with Stablecoin Standard to educate traditional finance firms about cryptocurrency, focusing on stablecoins and asset tokenization. In a significant move, State Street has partnered with Stablecoin Standard to enhance understanding of cryptocurrency among traditional finance (tradFi) firms, particularly emphasizing stablecoins and asset tokenization. This initiative reflects the growing interest in these areas, as evidenced by recent research predicting the tokenized real-world assets market could soar to $18.9 trillion by 2033. Meanwhile, Coinbase has launched CDP Embedded Wallets, simplifying the onboarding process for users by allowing email logins instead of seed phrases, which could significantly boost crypto adoption. In another development, BounceBit has integrated Franklin Templeton's tokenized money market fund, enhancing structured yield strategies for investors. Additionally, CEA Industries has made headlines by adopting Binance Coin (BNB) as its primary treasury reserve asset, marking a notable shift towards crypto-centric strategies among institutional investors. Lastly, Stellar Lumens (XLM) is experiencing a surge in transactions and active addresses, despite a recent price drop, with upcoming upgrades expected to further enhance its network capabilities. These developments collectively highlight the increasing integration of cryptocurrency into traditional finance and the evolving landscape of digital assets. Show more
