Trader Talk

Stock pickers are having another dismal year. Twice a year, Morningstar publishes a report that measures the performance of U.S. active funds against their passive peers in their respective Morningstar categories.Their latest conclusion: Stock pickers are not only not winning, they are losing ground against their passive brethren. Just 36 percent of active U.S. stock
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The SEC has again disapproved several proposals for a bitcoin ETF. The latest rejection involves two ETFs filed by ProShares that would track bitcoin futures contracts, another from GraniteShares, and five leveraged and inverse ETFs from Direxion. This follows on the heels of the SEC’s rejection of the Winklevloss ETF in July that would have
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Fifty percent of the S&P 500 has reported through Thursday, and several trends are apparent. Despite several high-profile misses like Facebook, earnings and revenues for the second quarter are higher than expected, and estimates for the third quarter are holding up. Earnings growth is running at 22.4 percent and revenues are up 8.6 percent. Here’s
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The Securities and Exchange Commission rejected a proposal by Cameron and Tyler Winklevoss, founders of crypto exchange Gemini, for the first-ever cryptocurrency ETF. Last year, the SEC disapproved an application for the “Winklevoss Bitcoin Trust” but in June the group submitted a proposed rule change. Among other arguments, the agency said in a release Thursday
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Earnings season, for the most part, has been outstanding. Companies are almost always beating numbers and at least maintaining or raising guidance for the full year. There are a few companies complaining about higher dollar and commodity costs (Illinois Tool Works, Kimberly Clark), but they are the minority. But that rosy outlook changed Monday night,
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So far, the second quarter has revealed American companies have not reached peak earnings yet. With 10 percent of companies in the S&P 500 reporting as of Wednesday morning, it looks like another above-trend quarter. Forty-eight companies have disclosed second quarter profit and revenue well above expectations. (48 companies reporting) Earnings: up 25.3 percent Revenue:
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The modest reaction to Netflix’s subscriber miss (down 5 percent) tells you something: The long-awaited break in FAANG names is not imminent. More importantly, it demonstrates that investors, even momentum investors, do not expect growth expectations to change too much, even with other FAANG stocks. Amazon, Facebook and Alphabet all hit historic highs yesterday. But
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The last earnings season was all about raising expectations for earnings on the back of corporate tax cuts, share buybacks, and a synchronous global economic expansion. A lot has changed in the last three months, according to Nick Raich of Earnings Scout. “Last earnings season it was all about raising estimates. This earnings season, all
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