Author: starbpo

In 2024, GMO’s inaugural exchange-traded fund is outperforming the S&P 500, even though it does not include the surging stock of artificial-intelligence sensation Nvidia Corp. According to FactSet data, the GMO U.S. Quality ETF QLTY has outperformed all three major U.S. equity indexes this year, with a gain of 10.6% through Monday. The S&P 500 has experienced an 8.6% increase over the same period, with the Nasdaq Composite showing a slightly higher advancement of 8.9%. Meanwhile, the Dow Jones Industrial Average has seen a more modest increase of 3.1%. Since its launch in November, the GMO U.S. Quality ETF has…

“If they [the Fed] haven’t cut in September, they are likely to cut in December. There’s still a question of will inflation actually decelerate enough by then.” Ken Griffin, founder and chief executive of Citadel According to Citadel founder and chief executive Ken Griffin, the Federal Reserve is expected to reduce interest rates in either September or December. This decision comes as the central bank faces difficulties in addressing the persistent U.S. services inflation and bringing it back to its 2% target. According to Griffin, there are several factors that are impacting the economy, such as wage growth, core inflation,…

U.S. stocks were on the rise on Monday, marking the start of a relatively calm week for economic data. According to BofA Global Research, the stock market tends to perform better during weeks with a quiet macroeconomic calendar, based on historical data. According to a note by a team of strategists at BofA Global Research, the S&P 500 index has shown a 0.6% increase during weeks without any significant macroeconomic data releases. In comparison, other weeks have seen a 0.2% increase on a median basis. According to the data, quiet weeks have consistently generated positive returns over the past 10…

Cash has been outperforming a significant portion of the bond market in 2024, bringing joy to the “T-bill and chill” community. The primary reason for cash’s superior performance compared to bonds has been the Federal Reserve’s decision to delay rate cuts this year, as certain inflationary factors have proven to be more challenging to control than anticipated. So far this year, cash has generated a total return of 1.8% by the end of April, while high-yield bonds, also known as “junk bonds,” have returned approximately 0.9%. Recent market trends have resulted in unfavorable returns for municipal bonds, investment-grade securities, and…

Climate activists staged a demonstration outside the Swiss National Bank’s shareholder meeting, condemning the bank’s investments in environmentally damaging ventures such as fracking and fossil fuel extraction.  The protest coincided with a recent ruling by a European human rights court criticizing Bern’s inadequate response to climate change. With Switzerland experiencing record high temperatures and diminishing snow levels in the Alps, around 50 demonstrators gathered in Bern, urging the SNB to either divest from such companies or pressure them to alter their practices. Holding banners declaring “Stop Fracking Investments End Fossil Finance” and “No Financial Stability Without a Stable Climate,” activists…

STMPA.PA In the wake of sluggish demand from automakers and a notable decrease in orders from laptop and phone manufacturers, European chipmaker STMicroelectronics has revised its full-year sales forecast downwards. The company, boasting clients like Tesla and Apple, announced a revised revenue projection for 2024, anticipating figures ranging between $14 billion to $15 billion. This adjustment marks a substantial dip from its earlier estimation of $15.9 billion to $16.9 billion. Analysts surveyed by LSEG had predicted a revenue of $16.1 billion for the year, signifying a discernible deviation from STMicro’s revised outlook. This move reflects broader challenges within the semiconductor…

In a move to sidestep potential penalties, TikTok has promptly submitted a risk assessment report concerning its latest application, TikTok Lite, to the European Commission. This action follows concerns expressed by the EU executive regarding the app’s reward system and its potential to engender addiction among minors. ByteDance, the parent company of TikTok, responded swiftly to the EU’s 24-hour ultimatum, ensuring compliance with regulatory standards. A spokesperson for TikTok confirmed the submission of the report, indicating the company’s commitment to addressing the EU’s apprehensions.

In a groundbreaking move, GoFundMe has officially set foot in Mexico, extending its reach into the heart of Latin America. The for-profit crowdfunding giant’s expansion aims to tap into the nation’s pressing needs while fostering cross-border solidarity. CEO Tim Cadogan revealed that Mexico, as the 20th country serviced by GoFundMe, marks the beginning of the platform’s strategic international growth. The decision to venture into Mexico was driven by its status as one of the world’s largest economies and its close ties with the United States. With a history of high search volumes and user interest, Mexico emerged as a logical…

GS          BAC        SDAWW Goldman Sachs and Bank of America find themselves in the midst of renewed pressure as proxy advisers urge investors to support the separation of their CEO and chairman roles. This move, aimed at enhancing governance, has gained traction in recent years, particularly following the 2008 financial crisis. Influential proxy advisers like Institutional Shareholder Services (ISS) and Glass Lewis are backing shareholder resolutions advocating for the split, though broader support remains uncertain. The call for separation is fueled by the belief that distinct roles would lead to better oversight and decision-making.…

Facing pressure from rights groups, the World Bank has suspended funding for a tourism project in Tanzania due to reported human rights violations. The project, aimed at improving natural resource management and tourism assets, has been criticized for causing suffering to local villagers. The Oakland Institute, a California-based rights watchdog, has long advocated for the project’s suspension, citing serious abuses suffered by indigenous communities. The group accused the World Bank of failing to hold Tanzanian authorities accountable for extrajudicial killings and sexual assaults linked to the project. The suspension of the $150 million project, known as REGROW, comes after at…