The spot bitcoin ETF: Here’s what happens when it starts trading
Crypto investors are waiting for the Securities and Exchange Commission to approve a raft of spot bitcoin applications, likely Wednesday. With a spot bitcoin ETF now looking very real, attention is turning to the details of how it will trade, how much it will cost, how much of the runup in bitcoin is due to demand […]
SEC approves disclosure rule for climate-related risks. Here’s what’s next for companies and investors
The U.S. Securities and Exchange Commission on Wednesday voted to adopt new rules that will require most publicly traded companies to disclose climate-related risks in their registration statements and annual reports. In particular, companies will have to share details on climate-related risks that could have a material effect on their business strategy or financial condition, as well as how they affect […]
Here’s why investors should stop worrying so much about concentration risk in the market
After a brief respite, the Magnificent 7 stocks have again hit new highs on the heels of Nvidia’s blowout earnings: They now again comprise about 30% of the S&P 500. Throw in the remainder of the top 10 stocks (Berkshire Hathaway, Lilly, and Broadcom) and the concentration rises to about 33% of the S&P 500. […]
No slowdown in spending among the wealthy on this Bahamian island
Word that Taylor Swift and Travis Kelce had been seen on the marina of this tiny speck (5 square miles) of an island for a vacation was met with bemusement by the tourists who had gathered to watch the magnificent sunset at the bar, and with dismay by locals, worried that their little speck of paradise was […]
SEC Chair Gary Gensler signals that disclosure will be a key issue in the year ahead
The annual two-day “SEC Speaks” event kicked off Tuesday, offering clues to what the priorities will be for the Securities and Exchange Commission in the coming year. Sponsored by the Practising Law Institute, it is a forum where the SEC provides guidance to the legal community on rules, regulations, enforcement actions and lawsuits. The event […]
‘Sell in May and go away’ is a catchy adage, but probably not a good idea
For fans of seasonal trading patterns, April has been a real bummer. It’s not just that it has been a down month (down 3.0% for the S&P 500, breaking a 5-month win streak). It’s that April is supposed to be a strong month. It is traditionally the best month of the year for the Dow Industrials (average […]
Italy is bracing for a record wave of tourists, but is having trouble handling them
Bellagio, Lake Como, Italy — When boat drivers start complaining about the tourists overrunning this famous lakeside resort, where Taylor Swift and Travis Kelce stayed at the Villa Sola Cabiati in Tremezzo two weeks ago after her series of Paris concerts, you know you have a problem. “There are days when traffic comes to a […]
Affirm buy now, pay later loans will be embedded into Apple Pay later this year
Apple device users will soon be able to tap into buy now, pay later loans from Affirm for purchases, the companies said Tuesday. Affirm will surface as an option for U.S. Apple Pay users on iPhones and iPads later this year, the San Francisco-based fintech company said in a filing. Apple confirmed the news in its own update. “This provides […]
GameStop shares slide 12% following Friday’s 40% sell-off
GameStop shares fell about 12% on Monday as the meme stock extended Friday’s sell-off sparked by a dismal earnings report and an uninspiring livestream from Roaring Kitty. The video game company’s stock declined to about $25 apiece on Monday after falling nearly 40% on Friday alone. GameStop released its earnings report days ahead of schedule, reporting that […]
Stocks making the biggest moves premarket: Eli Lilly, General Motors, Shopify
Check out the companies making headlines before the bell. Eli Lilly — Eli Lilly shares rose 2% after a panel of FDA advisors recommended the approval of its Alzheimer’s drug known as donanemab. General Motors — The automaker’s stock added more than 1% after its board authorized a $6 billion stock buyback program. Shopify — The e-commerce stock rose about 1% […]