Symbol:

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1.

Is IVV or QQQ a Better Choice for Investors? How These Popular ETFs Compare on Risk and Returns

2025-12-20 12:20:06 by Katie Brockman, The Motley Fool from Motley Fool

The iShares Core S&P 500 ETF (NYSEMKT:IVV) stands out for its lower fees, broader sector coverage, and higher yield, while the Invesco QQQ Trust, Series 1 (NASDAQ:QQQ) emphasizes tech-heavy growth and recent outperformance.

Both funds rank among the largest and most liquid ETFs in the U.S. IVV targets the S&P 500, providing exposure to 500 leading U.S. companies across various industries, while QQQ tracks the NASDAQ-100, focusing on technology and growth names. Here’s how they compare on cost, performance, risk, and portfolio makeup.

Snapshot (cost & size)

Metric	QQQ	IVV
Issuer	Invesco	iShares
Expense ratio	0.20%	0.03%
1-yr return (as of Dec. 15, 2025)	15.08%	12.66%
Dividend yield	0.46%	1.13%
Beta (5Y monthly)	1.19	1.00
AUM	$403 billion	$733 billion

Beta measures price volatility relative to the S&P 500. The 1-yr return represents total return over the trailing 12 months.

IVV is more affordable with a lower expense ratio than QQQ. It also pays out a higher dividend yield, which may appeal to income-focused investors.

Performance & risk comparison

Metric	QQQ	IVV
Max drawdown (5 y)	-35.12%	-24.52%
Growth of $1,000 over 5 years	$2,008	$1,878

What's inside

QQQ leans heavily into technology (55%), communication services (17%), and consumer cyclicals (13%), with top positions in Nvidia, Apple, and Microsoft. This tilt results in higher growth potential but also greater volatility and deeper drawdowns, especially during market corrections. QQQ holds just over 100 names, providing less sector diversification than IVV.

IVV tracks the S&P 500, holding 503 stocks across all major sectors, with the largest allocations to technology (34%), financial services (14%), and communication services (10%). Its top holdings match QQQ’s, but IVV’s portfolio is more diversified and less concentrated in tech. With over 25 years of history, IVV has established itself as a core holding for broad U.S. equity exposure.

For more guidance on ETF investing, check out the full guide at this link.

What this means for investors

The primary difference between IVV and QQQ comes down to strategy.

IVV is a broad market fund that tracks the S&P 500 and aims to replicate the index's performance. QQQ, on the other hand, is a growth fund that's designed to earn above-average returns over time.

Between the two funds, IVV is the more stable. It offers more diversification than QQQ with more holdings and less of a tilt toward the technology industry, and it's also experienced a milder max drawdown with a lower beta -- indicating fewer price fluctuations over the last five years.

IVV also boasts both a lower expense ratio and a higher dividend yield. Investors can expect to pay $3 per year in fees for every $10,000 invested in IVV, compared to $20 per year with QQQ. IVV's higher yield can also be an advantage for income-focused investors.

Where QQQ shines, though, is its growth potential. It's earned higher one- and five-year returns than IVV, and over time, those additional earnings can add up significantly.

Both funds are powerhouse investments that could fit a wide variety of portfolios. Investors who prioritize consistency and diversification may opt for IVV's S&P 500 stability, while growth-oriented investors may prefer the higher returns offered by QQQ.

Glossary

ETF: Exchange-traded fund; a fund that trades on stock exchanges and holds a basket of assets like stocks or bonds.
Expense ratio: The annual fee, as a percentage of assets, that a fund charges to cover operating costs.
Dividend yield: Annual dividends paid by a fund or stock divided by its current price, expressed as a percentage.
Beta: A measure of an investment's volatility compared to the overall market; 1.0 means equal volatility to the market.
AUM: Assets under management; the total market value of assets a fund or manager oversees.
Drawdown: The decline from a peak to a trough in the value of an investment, usually shown as a percentage.
S&P 500: A stock index tracking 500 large U.S. companies across various industries; a benchmark for U.S. equities.
NASDAQ-100: An index of the 100 largest non-financial companies listed on the NASDAQ stock exchange, mainly tech-focused.
Sector diversification: Investing across different industry sectors to reduce risk from any single sector's poor performance.
Total return: The investment's price change plus all dividends and distributions, assuming those payouts are reinvested.
Growth of $1,000: How much a $1,000 investment would be worth after a set period, including price gains and dividends.

Katie Brockman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple, Microsoft, and Nvidia. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.

Is IVV or QQQ a Better Choice for Investors? How These Popular ETFs Compare on Risk and Returns was originally published by The Motley Fool

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2.

This ETF Is Set To Beat the S&P 500 For the Third Year in a Row. Can It Do Again in 2026?

2025-12-20 00:05:00 by Jeremy Bowman, The Motley Fool from Motley Fool

An S&P 500 (SNPINDEX: ^GSPC) ETF might be the gold standard of investing. Even the world's most successful investors like Warren Buffett swear by it, and plenty of hedge funds keep S&P 500 ETFs in their portfolios.

The index tracks 500 of the top U.S. stocks, as chosen by S&P Global, and the index manager updates the membership quarterly, ensuring that chronic underperformers are removed from the index and that rising stars are added.

Over its history, the S&P 500 has returned an annual average of 9% with dividends included, making it a reliable way to grow wealth over the long term. However, in recent years and even through the entire 2000s, the S&P 500 has been bested by another index fund. That's the Invesco QQQ Trust (NASDAQ: QQQ), which tracks the Nasdaq-100, an index that holds the 100 most valuable non-financial companies on the Nasdaq.

The Invesco QQQ ETF also has a stellar track record, and it's on its way to outperforming the S&P 500 for the third year in a row.

The table shows how the two investments have done since the end of 2022.

Year	S&P 500 gains	QQQ gains
2023	24.2%	54.9%
2024	23.3%	25.6%
2025 (YTD)	14.3%	21.6%

As you can see, the QQQ got out to a blistering start in the AI era, bouncing back from a 33% decline in 2022. Since the start of 2023, the ETF has jumped 130%, compared to just a 77% gain for the S&P 500.

But what does that mean for 2026? Will QQQ's winning ways continue, or is it on track for a correction?

A history of outperformance

The QQQ hasn't just been a winner over the last three years. It's also been a top investment this century.

Dating back to 2000, a period that includes the dot-com bust, the QQQ has still outperformed the S&P 500. As you can see from the chart below, the ETF passed the S&P 500 in 2019 and hasn't looked back since, significantly extending its lead over the last three years.

The recovery and surge in the QQQ over the last decade are a reflection of the emergence of the tech sector, which should continue to take up a greater share of the stock market's value over the long term as technology advances in ways we haven't even imagined.

The Nasdaq-100 isn't exclusively to tech stocks, but the sector does make up 64% of the fund, with consumer discretionary as the next largest segment at 18.3%. Its top five holdings include Nvidia, Apple, Microsoft, Alphabet, and Broadcom. Those are similar to the top holdings of the S&P 500, but the QQQ has an even larger concentration in those stocks than the S&P 500.

Can it outperform in 2026?

Whether the QQQ can outperform again in 2026 likely depends on the broader market trends, including whether AI stocks keep gaining.

However, the fund's valuation still looks reasonable at a price-to-earnings ratio of 33.7, which compares to the S&P 500 at 27.4.

The volatility of the tech sector can swing both ways. The Nasdaq-100 has fallen further than the S&P 500 during times like the dot-com bust, 2008, and 2022, but during bull markets, it has a history of outperforming.

For long-term investors, buying some shares of the QQQ makes sense, even at a time when it might seem to have a premium valuation. Tech stocks like the "Magnificent Seven" and the semiconductor sector are growing rapidly and look poised to deliver more gains in 2026.

Overall, the QQQ looks more likely than not to beat the S&P 500 next year.

e

Jeremy Bowman has positions in Broadcom and Nvidia. The Motley Fool has positions in and recommends Alphabet, Apple, Microsoft, Nvidia, and S&P Global. The Motley Fool recommends Broadcom and recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.

This ETF Is Set To Beat the S&P 500 For the Third Year in a Row. Can It Do Again in 2026? was originally published by The Motley Fool

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3.

Exchange-Traded Funds Higher as US Equities Rise After Midday

2025-12-19 18:09:35 by MT Newswires from MT Newswires

Broad Market Indicators

Broad-market exchange-traded funds IWM and IVV rose. Actively traded Invesco QQQ Trust (QQQ) added 1.2%.

US equity indexes rose after midday on Friday, with technology and communication services topping sector charts.

Energy

iShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each gained about 0.4%.

Technology

The State Street Technology Select Sector SPDR ETF (XLK) added 1.9%; iShares US Technology ETF (IYW) was up 1.7%, while iShares Expanded Tech Sector ETF (IGM) rose 1.6%.

The State Street SPDR S&P Semiconductor (XSD) was 2.6% higher, and iShares Semiconductor (SOXX) gained 3%.

Financial

The State Street Financial Select Sector SPDR (XLF) was 0.7% up. Direxion Daily Financial Bull 3X Shares (FAS) rose 2%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), slipped 2%.

Commodities

Crude oil was 0.7% higher, and the United States Oil Fund (USO) gained 1%. Natural gas rose 1.7%, and the United States Natural Gas Fund (UNG) gained 1.2%.

Gold on Comex was 0.5% higher, and the State Street SPDR Gold Shares (GLD) climbed 0.4%. Silver gained 3.3%, and iShares Silver Trust (SLV) was up 2.7%.

Consumer

The State Street Consumer Staples Select Sector SPDR (XLP) fell 0.4%. The Vanguard Consumer Staples ETF (VDC) was down 0.4%, and iShares Dow Jones US Consumer Goods (IYK) was 0.1% lower.

The State Street Consumer Discretionary Select Sector SPDR (XLY) fell 0.2%. VanEck Retail ETF (RTH) eased 0.3%, and the State Street SPDR S&P Retail (XRT) lost 0.2%.

Health Care

The State Street Health Care Select Sector SPDR (XLV) was up 1%, iShares US Healthcare (IYH) gained 1%, and Vanguard Health Care ETF (VHT) also rose 1.1%; iShares Biotechnology ETF (IBB) increased 2.4%.

Industrial

The State Street Industrial Select Sector SPDR (XLI) was 0.7% higher. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) were each up 0.9%.

Cryptocurrency

In midday activity, bitcoin (BTC-USD) added 0.6%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) rose 2.7%, ProShares Ether ETF (EETH) was 6.6% higher, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) fell 1.3%.

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4.

The Nasdaq-100 ETF Just Flashed a Bearish Chart Signal. Here’s What Happens Next.

2025-12-19 16:09:23 by Barchart Insights from Barchart

On the date of publication, Barchart Insights did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com

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5.

Dear Western Digital Stock Fans, Mark Your Calendars for Dec. 22

2025-12-19 16:00:02 by Anushka Dutta from Barchart

On the date of publication, Anushka Dutta did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com

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6.

Invesco Unlocks $180 Million Windfall After QQQ Vote Passes

2025-12-19 14:12:59 by Katie Greifeld from Bloomberg

(Bloomberg) -- Owners of Invesco Ltd.’s famed tech fund QQQ voted to convert the product into an open-ended structure, a move that could unlock hundreds of millions in annual revenue for the asset manager. 

Shareholders of the $402 billion Invesco QQQ Trust Series 1 approved changing the fund’s structure from a unit investment trust, which is a little-used structure dating back to the birth of the first exchange-traded funds in the 1990s, an Invesco spokesperson said Friday. 

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Subject to board approval, Invesco will now lower QQQ’s expense ratio by two basis points to 0.18% given that the item, along with two others, were approved. Invesco expects QQQ to begin trading as an open-end fund on Dec. 22, according to a press release.

Invesco shares have surged by more than 50% since the asset manager filed its proxy statement with the Securities and Exchange Commission in mid-July in anticipation of Friday’s vote. 

The technical tweak to QQQ has enormous consequences for Invesco. Chief Financial Officer Allison Dukes said on the company’s July earnings call that transforming QQQ into an ETF could benefit net revenue and adjusted operating income by about four basis points — or roughly $180 million at current asset levels, according to Bloomberg Intelligence’s Neil Sipes. 

In its current investment trust format, Invesco sees virtually none of the substantial fee revenue that QQQ generates. With about $402 billion in assets and an expense ratio currently of 0.2%, a back-of-the-envelope calculation shows that QQQ generates roughly $800 million in annual fee revenue, data compiled by Bloomberg and Bloomberg Intelligence showed.

Currently, the bulk of that is divided between the fund’s trustee — the Bank of New York Mellon — and the provider of the underlying index, which is Nasdaq, while the rest is spent on marketing QQQ. But a conversion would allow Invesco to reorder the revenue breakdown.

Friday’s successful vote marks Invesco’s third attempt to meet the threshold needed to convert QQQ into the ETF structure. Earlier this month, the firm said in a Securities and Exchange filing that it had been “very close to that threshold,” with more than 50% of shareholders voting in favor of conversion.

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7.

Exchange-Traded Funds Higher, Equity Futures Mixed Pre-Bell Friday Amid Economic Data Releases

2025-12-19 13:59:22 by MT Newswires from MT Newswires

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.2% and the actively traded Invesco QQQ Trust (QQQ) was 0.3% higher in Friday's premarket activity amid a data-filled week that buoys hopes of more rate cuts.

US stock futures were mixed, with S&P 500 Index futures down 0.02%, Dow Jones Industrial Average futures slipping 0.1%, and Nasdaq futures gaining 0.1% before the start of regular trading.

The final University of Michigan consumer sentiment report for December and the existing home sales report for November will also be released at 10 am ET.

The weekly Baker Hughes oil-and-gas rig count posts at 1 pm.

In premarket activity, bitcoin was up by 3.9%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 4% higher, Ether ETF (EETH) rose 6.5%, and Bitcoin & Ether Market Cap Weight ETF (BETH) gained 0.5%.

Power Play:

Consumer

The State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.03%, while the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was inactive. The iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.1%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 0.3% higher.

Nike (NKE) shares were down more than 11% pre-bell after the company reported lower fiscal Q2 earnings.

Winners and Losers:

Technology

The State Street Technology Select Sector SPDR ETF (XLK) advanced 0.4%, and the iShares US Technology ETF (IYW) was 0.5% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 0.5%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) gained 0.7%, while the iShares Semiconductor ETF (SOXX) rose by 0.6%.

Oracle (ORCL) shares were up more than 1% in recent premarket activity following news that the company, Silver Lake, and MGX have signed deals with ByteDance's TikTok to form a new US joint venture overseeing the American version of the social media platform.

Financial

The State Street Financial Select Sector SPDR ETF (XLF) advanced 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.3%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.3% higher.

Coinbase Global (COIN) shares were up more than 2% pre-bell after the company's Chief Legal Officer Paul Grewal said Coinbase has filed lawsuits against Connecticut, Michigan and Illinois, alleging that the states lack jurisdiction to regulate prediction markets.

Industrial

The State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.4% while the Vanguard Industrials Index Fund (VIS) and the iShares US Industrials ETF (IYJ) were inactive.

Volaris (VLRS) stock was up more than 2% before the opening bell after the company and Grupo Viva Aerobus said late Thursday that they agreed to create a new Mexican airline group under a holding company structure, which will focus on expanding low-fare travel and connectivity.

Energy

The iShares US Energy ETF (IYE) gained 0.04%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.2%.

Energy Fuels (UUUU) stock was up more than 2% before Friday's opening bell after the company said that its high-purity dysprosium oxide has passed all initial quality control benchmarks set by a major South Korean automotive manufacturer for downstream rare earth permanent magnet production.

Health Care

The State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.1%. The Vanguard Health Care Index Fund (VHT) was flat while the iShares US Healthcare ETF (IYH) and the iShares Biotechnology ETF (IBB) were inactive.

HCA Healthcare (HCA) stock was up more than 1% premarket after RBC raised the company's price target to $525 from $482.

Commodities

Front-month US West Texas Intermediate crude oil was up 0.6% at $56.49 per barrel on the New York Mercantile Exchange. Natural gas gained 0.1% to reach $3.91 per 1 million British Thermal Units. The United States Oil Fund (USO) was up by 1%, while the United States Natural Gas Fund (UNG) declined by 0.03%.

Gold futures for February retreated by 0.1% to $4,361.30 an ounce on the Comex, and silver futures advanced by 0.9% to $65.84 an ounce. SPDR Gold Shares (GLD) was flat, and the iShares Silver Trust (SLV) was 0.8% higher.

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8.

Invesco QQQ Shareholders Vote to Approve Modernization

2025-12-19 13:53:00 by PR Newswire

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9.

Oracle TikTok deal lifts AI mining stocks as bitcoin tags $88,000

2025-12-19 11:44:09 by James Van Straten from CoinDesk

Oracle (ORCL) shares jumped more than 6% in pre-market trading to around $190 after Bloomberg reported that TikTok signed binding agreements to form a new U.S. joint venture led by Oracle, helping ease investor concerns around AI-driven valuation risks.

The upbeat reaction spread across risk assets. Bitcoin (BTC) jumped above $88,000, Invesco QQQ (QQQ) futures, which tracks the performance of the Nasdaq-100, rose around 0.5%, while AI mining stocks also moved higher. IREN (IREN) gained about 4%, Cipher Mining (CIFR) rose roughly 4% and CoreWeave (CRWV) climbed around 6%.

Oracle will play a central role as the primary cloud infrastructure and data security provider, overseeing where TikTok’s AI recommendation systems are retrained and operated on U.S.-based data.

Markets are treating the agreement as validation that Oracle’s AI exposure is tied to real, large scale workloads.

This matters because AI hyperscalers such as Oracle and CoreWeave have come under pressure in recent weeks, with share prices hit by fears around the sustainability of massive AI infrastructure spending and facing doubts over heavy debt-financed data center buildouts, delayed projects, and partnerships.

Markets attention now turns to personal consumption expenditures (PCE) price index data for the U.S. after a macro heavy week that included U.S. inflation data, jobs figures and a BOJ rate hike.

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10.

ETF Fund Flows: IVV Gains $34 Billion Ahead of CPI

2025-12-18 23:00:05 by etf.com Staff from etf.com

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11.

Exchange-Traded Funds Point Higher as US Equities Rise After Midday

2025-12-18 18:09:52 by MT Newswires from MT Newswires

Broad Market Indicators

Broad-market exchange-traded funds IWM and IVV rose. Actively traded Invesco QQQ Trust (QQQ) added 1.8%.

US equity indexes jumped in midday trading on Thursday after the inflation rate unexpectedly slumped and Micron Technology's (MU) blowout quarterly results boosted risk sentiment.

Energy

iShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each lost about 1.2%.

Technology

The State Street Technology Select Sector SPDR ETF (XLK) added 1.8%; iShares US Technology ETF (IYW) was up 1.9%, while iShares Expanded Tech Sector ETF (IGM) rose 1.8%.

The State Street SPDR S&P Semiconductor (XSD) was 2.5% higher, and iShares Semiconductor (SOXX) gained 2.9%.

Financial

The State Street Financial Select Sector SPDR (XLF) was 0.1% down. Direxion Daily Financial Bull 3X Shares (FAS) slipped 0.3%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), rose 0.2%.

Commodities

Crude oil was 0.9% higher, and the United States Oil Fund (USO) lost 0.6%. Natural gas shed 1.3%, and the United States Natural Gas Fund (UNG) declined 3.6%.

Gold on Comex fell 0.2%, and the State Street SPDR Gold Shares (GLD) dipped 0.3%. Silver dropped 2.3%, and iShares Silver Trust (SLV) was down 1.7%.

Consumer

The State Street Consumer Staples Select Sector SPDR (XLP) fell 0.4%. The Vanguard Consumer Staples ETF (VDC) and iShares Dow Jones US Consumer Goods (IYK) were also edging lower.

The State Street Consumer Discretionary Select Sector SPDR (XLY) rose 1.8%. VanEck Retail ETF (RTH) added 0.3%, and the State Street SPDR S&P Retail (XRT) added 0.4%.

Health Care

The State Street Health Care Select Sector SPDR (XLV) was up 0.2%, and iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) also edged higher; iShares Biotechnology ETF (IBB) fell 0.6%.

Industrial

The State Street Industrial Select Sector SPDR (XLI) was 0.6% higher. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) were also moved up.

Cryptocurrency

In midday activity, bitcoin (BTC-USD) added 0.7%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) rose 0.7%, ProShares Ether ETF (EETH) was 0.6% higher, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) rose 0.1%.

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12.

CPI, Jobless Claims in Very Agreeable Ranges

2025-12-18 15:16:00 by Mark Vickery from Zacks

Thursday, December 18, 2025

The final big economic shoe to drop this week did so in pleasing fashion: the Consumer Price Index (CPI) report for November came in below expectations in a big way: +0.2% on headline and core (subtracting volatile food and energy prices) are below the +0.3% expected for both prints, which were where we left off these figures in September. (CPI for October has been scrapped.)

Year over year headline CPI is also known as the Inflation Rate, and this came in surprisingly low: +2.7%, from a consensus expectation of +3.1%. This is also the first month-over-month* print lower in eight months, going back to April’s 4 1/2-year low of +2.3%. Core CPI year over year came down to +2.6% — also surprising considering expectations of +3.0%.

We saw Energy prices rise +1.1% over this two-month interim, which is good news if we consider that Energy prices have come down more recently, and stand to post even lower figures in the next CPI report. Food was +0.1% and Shelter +0.2% — both agreeable to market participants looking for signs that inflation is on the wane. Lodging away from home, Recreation and Apparel all came down in price over this two-month stint.
 

Weekly Jobless Claims Stay in Comfortable Range

As with today’s CPI data, Weekly Jobless Claims are also coming in as well as can be expected: Initial Claims came in at +224K for last week, down nicely from the upwardly revised +237K the prior week. The 4-week average now stands at  very reasonable +217K, based on a big dip to sub-200K a couple weeks ago. Again, it would be hard to wish for data better than this.

Continuing Claims came up to 1.897 million from a downwardly revised 1.830 million the previous week, which marked another big shift downward — -100K long-term jobless claims over a one-month period — after spending 28 weeks at or above 1.9 million (without once ever striking 2 million, which would have caused a re-think on labor force strength). Sub-1.9 million is another very agreeable place to be on labor metrics.

These figures only jibe with the weakness we’ve seen in monthly job hires (such as the BLS report for November out on Tuesday) if we view it through the prism of “no hire, no fire.” This illustrates a lack of clarity on the economic landscape looking toward 2026; we expect to see labor numbers in limbo like this until it’s clear whether we’ll enjoy economic expansion or prepare for contraction.
 

What to Expect from the Stock Market Today

Pre-market futures zoomed up from already-improved levels across the major indexes. The Dow moved from +100 points ahead of these reports to +215 points now; the S&P 500 moved from +41 to +53 after the metrics dropped, and the Nasdaq was +280 points ahead of the news to +344 afterward. Bond yields have moderated to +4.12% on the 10-year and +3.46% on the 2-year.

It’s an excellent way to prime the pump after a week or so of downward moves on the major stock indexes. Assuming there’s not somehow a third shoe dropping at some point during this trading day, we find it hard to recognize any headwinds for trading these indexes higher based on today’s employment and inflation data.
______
* - Keep the October absence of data in mind when we cite “month over month” numbers.

Questions or comments about this article and/or author? Click here>>

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13.

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Thursday Amid Incoming Key Inflation Data

2025-12-18 13:25:08 by MT Newswires from MT Newswires

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.4% and the actively traded Invesco QQQ Trust (QQQ) was 0.9% higher in Thursday's premarket activity, amid key inflation data releases.

US stock futures were also higher, with S&P 500 Index futures up 0.5%, Dow Jones Industrial Average futures advancing 0.2%, and Nasdaq futures gaining 0.8% before the start of regular trading.

The consumer price index report for November, the weekly jobless claims bulletin and the Philadelphia Fed manufacturing index for December will be released at 8:30 am ET.

The Kansas City Fed manufacturing index for the current month is slated for an 11 am ET release.

In premarket activity, bitcoin was up by 1.5%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.6% higher, Ether ETF (EETH) advanced 1.3%, and Bitcoin & Ether Market Cap Weight ETF (BETH) gained 0.1%.

Power Play:

Energy

The iShares US Energy ETF (IYE) was inactive, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.1%.

Sable Offshore (SOC) shares were up 48% in recent Thursday premarket activity after the company said overnight that the Pipeline and Hazardous Materials Safety Administration of the US Department of Transportation confirmed that Sable's pipeline system connecting the Santa Ynez Unit to the Pentland Station terminal in California is an "active" pipeline under the regulations.

Winners and Losers:

Technology

The State Street Technology Select Sector SPDR ETF (XLK) advanced by 1.1%, and the iShares US Technology ETF (IYW) was 0.8% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 0.8%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) gained 1.6%, while the iShares Semiconductor ETF (SOXX) rose by 2.3%.

Micron Technology (MU) shares were up more than 13% in recent premarket activity after the company overnight reported an increase in fiscal Q1 earnings and sales.

Consumer

The State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.03%, while the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was flat. The iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.6%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) advanced 0.3%.

Birkenstock (BIRK) shares were down more than 9% pre-bell after the company's guidance for fiscal 2026 trailed the estimates of analysts polled by FactSet.

Health Care

The State Street Health Care Select Sector SPDR ETF (XLV) retreated marginally by 0.01%. The Vanguard Health Care Index Fund (VHT) was flat, while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) was 0.3% lower.

Takeda Pharmaceutical (TAK) stock was up more than 1% premarket after the company said its drug zasocitinib for the treatment of adults with moderate-to-severe plaque psoriasis met primary and secondary endpoints in two phase 3 studies.

Financial

The State Street Financial Select Sector SPDR ETF (XLF) advanced 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.7%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.4% lower.

Progressive (PGR) shares were down more than 1% pre-bell after the company on Wednesday reported November net income of $1.63 per share, down from $1.71 a year earlier.

Industrial

The State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.4% while the Vanguard Industrials Index Fund (VIS) and the iShares US Industrials ETF (IYJ) were inactive.

KBR (KBR) stock was up more than 1% before the opening bell after the company said it was awarded a seat on a $10 billion ceiling multiple award, indefinite delivery indefinite quantity, or IDIQ contract by the US Naval Supply Systems Command.

Commodities

Front-month US West Texas Intermediate crude oil was up 0.2% at $56.05 per barrel on the New York Mercantile Exchange. Natural gas gained 3.1% to reach $4.15 per 1 million British Thermal Units. The United States Oil Fund (USO) was down by 1.1%, while the United States Natural Gas Fund (UNG) rose by 1.4%.

Gold futures for February retreated by 0.5% to $4,352.30 an ounce on the Comex, and silver futures declined by 1% to $66.22 an ounce. SPDR Gold Shares (GLD) retreated by 0.5%, and the iShares Silver Trust (SLV) was 0.5% lower.

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14.

Micron crushes earnings, calming markets and helping boost bitcoin back above $87,000

2025-12-18 12:05:38 by James Van Straten from CoinDesk

From "it's so over" to "we're so back" – market sentiment flips fast these days on social media.

Just days after AI bubble fears resurfaced, Micron (MU), a critical supplier of memory chips used in AI infrastructure and data centers, has posted blowout earnings, reversing the bearish sentiment.

This led to U.S. technology futures trading up in pre-market on Thursday, with the Invesco QQQ up nearly 1% pre-market after falling almost 2% on Wednesday.  Bitcoin, too, has stabilized above $87,000 following its wild swings in both directions on Wednesday. BTC and tech stocks tend to move in lockstep, with the AI boom at the center of the positive correlation since late 2022.

According to the latest earnings report, Micron reported Q1 2026 revenue of $13.6 billion, a 57% year-over-year increase. Gross margins surged to 56%, compared with 38% a year earlier, while operating income jumped to $6.1 billion. Net income reached $5.24 billion, nearly triple last year’s level, with diluted EPS of $4.60, beating Wall Street's estimate of $3.96, according to FactSet data.

AI-driven demand was the standout theme. Micron’s cloud memory business unit saw revenue double year on year, while mobile and client revenue rose 63%, according to an earnings presentation. According to the conference call, the firm now forecasts Q2 2026 revenue of $18 to $19 billion, which is above the expectation of $17.8 billion, according to FactSet data. The management also said that it is effectively sold out of key AI memory products through 2026. Shares rose around 12% pre-market to about $250.

The strong results offered relief amid ongoing AI jitters at Oracle (ORCL), Broadcom (AVG) and CoreWeave (CRWV). AI and crypto-linked equities edged slightly higher pre-market, highlighting the growing crossover, which is being fueled by the AI narrative.

UPDATE (Dec. 18, 13:55 UTC): Updates to add company earnings, presentation and management discussion filings; analysts' estimates.

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15.

Questcorp Mining Completes Flow Through Financing

2025-12-18 08:15:00 by Newsfile

Vancouver, British Columbia--(Newsfile Corp. - December 18, 2025) - Questcorp Mining Inc. (CSE: QQQ) (OTCQB: QQCMF) (FSE: D910) (the "Company" or "Questcorp") announces that has closed its non-brokered private placement (the "Offering") of flow-through units (each, an "FT Unit"). In connection with closing, the Company has issued 6,023,077 FT Units, at a price of $0.13 per FT Unit, for gross proceeds of up to $783,000. Each FT Unit consists of one common share of the Company, issued as a flow-through share within the meaning of the Income Tax Act (Canada), and one-half-of-one share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder to purchase an additional common share of the Company at a price of $0.20 until December 17, 2027.

The Company anticipates the proceeds from the Offering will be used to conduct exploration of the Company's North Island Copper Property, located on Vancouver Island, British Columbia.

In connection with closing, the Company paid $53,900 and issued 414,615 share purchase warrants (each, a “Finders’ Warrant”) to certain arms-length parties who assisted in introducing subscribers to the Offering. Each Finders’ Warrant is exercisable to acquire a common share of the Company until December 17, 2027, with 134,615 of the Finders’ Warrants exercisable at a price of $0.13 and 280,000 exercisable at a price of $0.20. All securities issued in connection with the Offering are subject to restrictions on resale until April 18, 2026 in accordance with applicable securities laws.

About Questcorp Mining Inc.

Questcorp Mining Inc. is engaged in the business of the acquisition and exploration of mineral properties in North America, with the objective of locating and developing economic precious and base metals properties of merit. The Company holds an option to acquire an undivided 100% interest in and to mineral claims totaling 1,168.09 hectares comprising the North Island Copper Property, on Vancouver Island, British Columbia, subject to a royalty obligation. The Company also holds an option to acquire an undivided 100% interest in and to mineral claims totaling 2,520.2 hectares comprising the La Union Project located in Sonora, Mexico, subject to a royalty obligation.

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties, uncertain capital markets; and delay or failure to receive board or regulatory approvals. There can be no assurance that the geophysical surveys will be completed as contemplated or at all and that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/278391

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16.

US Equity Indexes Slump as Oracle's Sell-Off Knocks Out Technology

2025-12-17 21:45:26 by MT Newswires from MT Newswires

US equity indexes dropped on Wednesday as a sharp decline in technology and communication services hit the Nasdaq Composite and the S&P 500.

The Nasdaq dropped 1.8% to 22,693.14, with the S&P 500 down 1.2% to 6,721.43 and the Dow Jones Industrial Average 0.5% lower at 47,885.97. Industrials and consumer discretionary were among the steepest decliners at the close, while energy emerged as the standout gainer.

Blue Owl Capital (OWL) will not back a $10 billion deal for Oracle's (ORCL) next data center facility, the Financial Times reported Wednesday, citing three people familiar with the matter. Blue Owl had been in talks with Oracle and lenders about investing in the planned 1 gigawatt data center being built for Microsoft-backed (MSFT) OpenAI in Saline Township, Michigan, the report said.

However, in an emailed statement to MT Newswires, an Oracle spokesperson refuted the report, saying that in this instance, Blue Owl was not selected as the best option.

Still, Oracle was the worst performer in a category of stocks with a market capitalization of over $200 billion, according to data compiled by Finviz, reflecting continued investor apathy following the release of quarterly results last week. The technology behemoth's plan to expand its full-year artificial intelligence-related capital expenditure by $15 billion spooked investors.

Oracle's shares sank 5.4%, among the worst performers on the S&P 500 and the Nasdaq.

"The FT's report around Blue Owl's financing of ORCL's Michigan data center points to a shift in perceived risk around data center builds that could weigh on future capital availability," Wedbush Securities analysts said in a note, while adding that Amazon.com's (AMZN) "reported interest in buying a piece of OpenAI supports further capital investment."

Amazon is in discussions to invest at least $10 billion in OpenAI in a deal that potentially values the Microsoft-backed (MSFT) artificial intelligence firm at more than $500 billion, news outlets reported Tuesday, citing unnamed sources.

Meanwhile, the Invesco QQQ Trust (QQQ), a tech-heavy exchange-traded fund that offers exposure to the Magnificent-7 stocks such as Alphabet (GOOG, GOOGL) and Nvidia (NVDA) across technology and communication services, dropped 1.9% at the close, the lowest in more than a month.

The Global X Artificial Intelligence & Technology ETF (AIQ), which invests in firms related to AI, declined 1.8%, the weakest level this month.

Chip maker Micron Technology (MU), which reported quarterly results after the bell on Wednesday, was trading up 3.5% in recent after-hours activity.

In economic news, mortgage applications fell 3.8% in the week ended Dec. 12 as average 30-year mortgage rates rose, according to the Mortgage Bankers Association. This follows a 4.8% jump in overall activity in the week ended Dec. 5.

Gold futures advanced 1% to $4,373.43. Silver futures soared 5.2% to $66.65, hitting an all-time high earlier in the session.

West Texas Intermediate crude oil futures jumped 2.8% to $56.84 a barrel.

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17.

US Equity Indexes Head Lower Amid Sell-Off in Technology

2025-12-17 20:57:03 by MT Newswires from MT Newswires

US equity indexes fell ahead of Wednesday's close as the Nasdaq Composite slumped amid a sell-off in big-tech names.

The Nasdaq dropped 1.6% to 22,731.6, with the S&P 500 down 1.1% to 6,728.4 and the Dow Jones Industrial Average 0.4% lower at 47,921.7. Technology, communication services, and industrials led the decliners, while energy emerged as the standout gainer.

Blue Owl Capital (OWL) will not back a $10 billion deal for Oracle's (ORCL) next data center facility, the Financial Times reported Wednesday, citing three people familiar with the matter. Blue Owl had been in talks with Oracle and lenders about investing in the planned 1 gigawatt data center being built for Microsoft-backed (MSFT) OpenAI in Saline Township, Michigan, the report said.

However, in an emailed statement to MT Newswires, an Oracle spokesperson refuted the report, saying that in this instance, Blue Owl was not selected as the best option.

Still, Oracle (ORCL) was among the worst three decliners intraday in a category of stocks with a market capitalization of more than $200 billion, according to data compiled by Finviz, reflecting continuing investor apathy following the release of quarterly results last week. The technology behemoth's plan to expand its full-year artificial intelligence-related capital expenditure by $15 billion spooked investors.

Oracle's shares slumped 5.9%, among the worst performers on the S&P 500 and the Nasdaq.

The Invesco QQQ Trust (QQQ), a tech-heavy exchange-traded fund that offers exposure to the Magnificent-7 stocks such as Alphabet (GOOG, GOOGL) and Nvidia (NVDA) across technology and communication services, dropped 1.7%, the lowest in more than a month.

The Global X Artificial Intelligence & Technology ETF (AIQ), which invests in firms related to AI, declined 1.6%, the weakest level this month.

Shares of chip manufacturer Micron Technology (MU), which is expected to report its quarterly results after the bell on Wednesday, dropped 3.2%.

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18.

Exchange-Traded Funds Drop as US Equities Edge Lower After Midday

2025-12-17 18:10:14 by MT Newswires from MT Newswires

Broad Market Indicators

Broad-market exchange-traded funds IWM and IVV declined. Actively traded Invesco QQQ Trust (QQQ) shed 1.2%.

US equity indexes declined, led by the Nasdaq Composite, amid a jump in volatility and gains in government bond yields in midday trading on Wednesday.

Energy

iShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each added about 1.3%.

Technology

The State Street Technology Select Sector SPDR ETF (XLK) fell 1.6%; iShares US Technology ETF (IYW) was down 1.3%, while iShares Expanded Tech Sector ETF (IGM) dipped 1.5%.

The State Street SPDR S&P Semiconductor (XSD) was 1.9% lower, and iShares Semiconductor (SOXX) slipped 2.9%.

Financial

The State Street Financial Select Sector SPDR (XLF) was 0.3% up. Direxion Daily Financial Bull 3X Shares (FAS) rose 0.7%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), declined 0.8%.

Commodities

Crude oil was 1.5% higher, and the United States Oil Fund (USO) added 1.7%. Natural gas gained 3.1%, and the United States Natural Gas Fund (UNG) rose 2.5%.

Gold on Comex was 0.9% higher, and the State Street SPDR Gold Shares (GLD) rose 0.9%. Silver climbed 5.9%, and iShares Silver Trust (SLV) was up 5%.

Consumer

The State Street Consumer Staples Select Sector SPDR (XLP) added 0.3%. The Vanguard Consumer Staples ETF (VDC) and iShares Dow Jones US Consumer Goods (IYK) were also rising.

The State Street Consumer Discretionary Select Sector SPDR (XLY) dipped 0.4%. VanEck Retail ETF (RTH) added 0.1%, and the State Street SPDR S&P Retail (XRT) rose fractionally.

Health Care

The State Street Health Care Select Sector SPDR (XLV) was up 0.1%, and iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) also edged higher; iShares Biotechnology ETF (IBB) rose 0.3%.

Industrial

The State Street Industrial Select Sector SPDR (XLI) was 1.1% lower. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) were also weaker.

Cryptocurrency

In midday activity, bitcoin (BTC-USD) was down 1.1%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) shed 0.9%, ProShares Ether ETF (EETH) was 3.4% lower, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) dropped 1.6%.

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19.

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Wednesday as Investors Digest Latest Economic Data

2025-12-17 14:05:22 by MT Newswires from MT Newswires

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.4% and the actively traded Invesco QQQ Trust (QQQ) was 0.5% higher in Wednesday's premarket activity as investors digest the latest economic reports.

US stock futures were also higher, with S&P 500 Index futures up 0.3%, Dow Jones Industrial Average futures advancing 0.2%, and Nasdaq futures gaining 0.4% before the start of regular trading.

US mortgage applications fell 3.8% in the week ended Dec. 12 as higher mortgage rates reversed the prior week's increase, Mortgage Bankers Association data showed Wednesday.

The business inventories report for October will be released at 10 am ET, followed by the weekly EIA domestic petroleum inventories report at 10:30 am.

New York Fed President John Williams and Atlanta Fed President Raphael Bostic speak today.

In premarket activity, bitcoin was down by 0.9%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.7% lower, Ether ETF (EETH) retreated 0.6%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.

Power Play:

Technology

The State Street Technology Select Sector SPDR ETF (XLK) retreated 0.1%, and the iShares US Technology ETF (IYW) was 0.3% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 0.8%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was inactive, while the iShares Semiconductor ETF (SOXX) rose by 0.4%.

Jabil (JBL) shares were up more than 6% in recent premarket activity after the company reported higher fiscal Q1 core earnings and net revenue.

Winners and Losers:

Consumer

The State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.1%, while the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was flat. The iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.6%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 0.7% higher.

Lennar's (LEN) shares were down more than 4% pre-bell after the company reported a year-over-year decline in Q4 adjusted earnings and sales overnight.

Health Care

The State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.04%, and the Vanguard Health Care Index Fund (VHT) was 0.5% higher, while the iShares US Healthcare ETF (IYH) slipped 0.1%. The iShares Biotechnology ETF (IBB) was up 0.6%.

Alvotech (ALVO) stock was up more than 2% premarket after the company said that it has placed a $108 million offering of senior unsecured convertible bonds due 2030.

Industrial

The State Street Industrial Select Sector SPDR ETF (XLI) retreated by 0.01%, the Vanguard Industrials Index Fund (VIS) was down 0.1%, while the iShares US Industrials ETF (IYJ) was inactive.

ZIM Integrated Shipping Services (ZIM) stock was up more than 3% before the opening bell after the company reported an agreement with a shareholder group that will enable the board to approve a unified slate of 10 directors.

Financial

The State Street Financial Select Sector SPDR ETF (XLF) advanced 0.3%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.9%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.8% lower.

Robinhood (HOOD) shares were up more than 1% pre-bell after the company said it introduced new prediction market tools, plus an updated Robinhood Cortex AI assistant with new portfolio Digests.

Energy

The iShares US Energy ETF (IYE) was up 0.4%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.9%.

TotalEnergies SE (TTE) stock was up more than 1% before Wednesday's opening bell after the company said that it completed the sale of a 50% stake in its 424 MW wind and solar portfolio in Greece to Asterion Industrial Partners for 508 million euros ($595.4 million).

Commodities

Front-month US West Texas Intermediate crude oil was up 1.8% at $56.24 per barrel on the New York Mercantile Exchange. Natural gas gained 1.7% to reach $3.95 per 1 million British Thermal Units. The United States Oil Fund (USO) advanced by 2%, while the United States Natural Gas Fund (UNG) rose by 3.2%.

Gold futures for February gained by 0.3% to reach $4,347.10 an ounce on the Comex, and silver futures advanced by 4.2% to $66.08 an ounce. SPDR Gold Shares (GLD) retreated by 0.6%, and the iShares Silver Trust (SLV) was 3.5% higher.

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20.

Exchange-Traded Funds Lower as US Equities Fall After Midday

2025-12-16 18:09:14 by MT Newswires from MT Newswires

Broad Market Indicators

Broad-market exchange-traded funds IWM and IVV were lower. Actively traded Invesco QQQ Trust (QQQ) shed 0.3%.

US equity indexes fell along with government yields and crude oil in midday trading on Tuesday as investors weighed a deluge of macroeconomic data.

Energy

iShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each dropped about 2.9%.

Technology

The State Street Technology Select Sector SPDR ETF (XLK) fell 0.3%; iShares US Technology ETF (IYW) was down 0.3%, while iShares Expanded Tech Sector ETF (IGM) dipped 0.4%.

The State Street SPDR S&P Semiconductor (XSD) was 1% lower, and iShares Semiconductor (SOXX) slipped 0.9%.

Financial

The State Street Financial Select Sector SPDR (XLF) was 0.6% down. Direxion Daily Financial Bull 3X Shares (FAS) lost 1.9%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), rose 1.9%.

Commodities

Crude oil was 2.4% lower, and the United States Oil Fund (USO) dropped 2.1%. Natural gas fell 2.4%, and the United States Natural Gas Fund (UNG) declined 2%.

Gold on Comex was flat, and the State Street SPDR Gold Shares (GLD) was little changed. Silver shed 0.6%, and iShares Silver Trust (SLV) was down 1%.

Consumer

The State Street Consumer Staples Select Sector SPDR (XLP) lost 0.1%. The Vanguard Consumer Staples ETF (VDC) and iShares Dow Jones US Consumer Goods (IYK) were in the red.

The State Street Consumer Discretionary Select Sector SPDR (XLY) dipped 0.3%. VanEck Retail ETF (RTH) lost 0.7%, and the State Street SPDR S&P Retail (XRT) fell 0.7%.

Health Care

The State Street Health Care Select Sector SPDR (XLV) was down 1.7%, and iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) also declined; iShares Biotechnology ETF (IBB) dipped 1%.

Industrial

The State Street Industrial Select Sector SPDR (XLI) was 0.8% lower. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) were also weaker.

Cryptocurrency

In midday activity, bitcoin (BTC-USD) was up 1.6%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) added 1.6%, ProShares Ether ETF (EETH) was 0.6% lower, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) gained 1%.

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21.

Western Digital’s Nasdaq-100 Entry Caps Its AI-Driven Comeback

2025-12-16 16:16:00 by Jeffrey Neal Johnson, MarketBeat from MarketBeat

Key Points

• Inclusion in a market index forces passive investment funds to purchase shares, creating a new layer of institutional demand for the stock.
• Transitioning to a focused manufacturer of hard drives allows the company to capitalize on the massive data storage needs of artificial intelligence.
• Healthy demand from cloud customers has improved profitability, while the company has returned capital to shareholders through buybacks and increased dividends.
• Interested in Western Digital Corporation? Here are five stocks we like better.

Western Digital Corporation (NASDAQ: WDC) has emerged as one of the standout technology stories of 2025. The company’s stock has appreciated by approximately 195% year-to-date, recently trading around $175 per share. This impressive performance is set to receive another significant boost as the company officially joins the Nasdaq-100 Index prior to the market open on Monday, December 22, 2025.

This inclusion is more than just a badge of honor or a vanity metric. It validates the company's strategic decision to separate its Flash memory business in February 2025. That move transformed Western Digital into a focused provider of hard disk drive (HDD) infrastructure.

→ Forget the Chips: 4 Industrial Plays for the AI Rebound

By replacing apparel retailer Lululemon (NASDAQ: LULU) in the index, Western Digital signifies a broader market rotation: investors are moving away from consumer discretionary goods and back toward essential technology hardware. For investors, this event represents a double catalyst: a technical boost from index purchasing and a fundamental transformation into a critical player in the artificial intelligence (AI) economy.

The Power of Passive Buying

When a stock is added to a major benchmark like the Nasdaq-100, it triggers a financial phenomenon known as the Index Effect. This index is tracked by passive investment funds, most notably exchange-traded funds (ETFs), such as the Invesco QQQ (NASDAQ: QQQ). These funds are contractually obligated to own the stocks listed in the index to ensure their performance matches the benchmark perfectly. As a result, they must purchase millions of shares of Western Digital to align their portfolios with the new index composition.

→ 3 Cheap Dividend Stocks That Can Beat Inflation and Pay You to Wait

This creates a wave of forced buying demand that is entirely independent of the company's day-to-day operational news. This influx of institutional capital often establishes a technical floor for the stock price in the short term, as funds must accumulate shares regardless of the current price. This mechanical purchasing pressure can drive stock prices higher simply because there is a new, guaranteed buyer in the market.

A Double-Barreled Demand Dynamic

While external funds are forced to buy shares, Western Digital is actively reducing its own stock supply. In the first fiscal quarter of 2026, the company repurchased $553 million of its own shares.

→ Post 35% Surge, Analysts Eye More Upside in Copper Giant Freeport

This combination creates a powerful imbalance between supply and demand. On the one hand, ETFs buy shares to track the index. On the other side, the company is aggressively buying back its own stock, permanently removing those shares from the open market. When demand spikes while supply shrinks, the natural economic result is upward pressure on Western Digital’s stock price. This double-barreled dynamic provides a strong tailwind for the stock as it enters 2026.

Storage for the Intelligence Era

Western Digital qualified for the Nasdaq-100 because its market capitalization, now approximately $60 billion, surged following the successful separation of its Flash business. The company is now a pure-play HDD manufacturer, a move that has allowed it to focus entirely on the booming demand for mass data storage.

This valuation growth is directly connected to the AI Super Cycle. Artificial Intelligence models require massive datasets for training and long-term archiving. This data must be stored on high-capacity, cost-effective drives known as Nearline storage. As a result, Western Digital is no longer viewed just as a legacy storage maker, but as a critical infrastructure provider for the AI revolution.

• Cloud Growth: In the most recent quarter, revenue from cloud customers grew 31% year-over-year to $2.51 billion. This segment now accounts for 89% of the company’s total revenue.
• Data Explosion: The company shipped a total of 204 exabytes of storage in the first quarter of fiscal year 2026, a 23% increase compared to the previous year.

Expanding Margins and Earnings

This surge in demand has translated directly to the bottom line. With high demand and limited industry supply, Western Digital has significantly improved its profitability.

• Gross Margin: Non-GAAP gross margin expanded to 43.9% in the recent quarter, a substantial improvement from 37.3% a year prior.
• Earnings Beat: The company reported non-GAAP earnings per share (EPS) of $1.78, beating analyst expectations.

These metrics confirm that the company is selling more products at better prices, a clear sign of a healthy business model.

Seagate and Western Digital: The Storage Duopoly

It is crucial to note that Western Digital is not alone in this upward trajectory. Its primary competitor, Seagate Technology (NASDAQ: STX), is also joining the Nasdaq-100 in the same reconstitution. The fact that both major HDD manufacturers are being added to the index simultaneously serves as a massive validation for the entire data storage sector.

This confirms that the rally is not a fluke specific to one company. Instead, it signals a sector-wide revaluation of data storage assets. The market has realized that in an AI world, storage is a scarce and valuable commodity. With both major players focusing on profitability over market share, the pricing environment remains rational and favorable for industry margins.

Pricing Power and 2026 Valuation

Looking ahead, the company’s financial outlook appears healthy. Management has secured firm purchase orders from its top hyperscale customers that extend through the entire 2026 calendar year. This unusual level of visibility mitigates the risk of sudden revenue drops and allows the company to plan its production efficiently.

Furthermore, management has guided that the HDD market is expected to remain supply-constrained through 2026. In the hardware industry, scarcity equals pricing power. With demand from AI data centers outstripping the industry's ability to produce high-capacity drives, Western Digital is well-positioned to maintain or even increase its profit margins.

Despite the stock's 195% rally this year, Western Digital’s analyst community sees further upside potential. Recent price targets from firms like Loop Capital have reached as high as $250, while Citigroup has set a target of $200. Additionally, China Renaissance recently initiated coverage with a Buy rating and a $193 target. These targets suggest that the market may not have fully priced in the duration and magnitude of the AI storage cycle.

Additionally, the company is committed to returning cash to shareholders. The Board of Directors recently raised the quarterly dividend by 25% to $0.125 per share. This increase serves as a signal of management’s confidence in its ability to generate sustained cash flow.

Spinning Gold: The Hard Drive Renaissance

The inclusion of Western Digital in the Nasdaq-100 Index provides a significant short-term trading catalyst through the Index Effect. However, the long-term investment case is built on a solid fundamental foundation. By transforming into a focused provider of high-capacity storage for the AI economy, the company has secured a critical role in the data center of the future. With a shareholder-friendly capital allocation strategy, secured long-term orders, and favorable market dynamics, Western Digital is positioned as a top-tier technology holding for 2026.

The article "Western Digital’s Nasdaq-100 Entry Caps Its AI-Driven Comeback" was originally published by MarketBeat.

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22.

Jobs Come In at +64K in November, Unemployment +4.6%

2025-12-16 15:45:00 by Mark Vickery from Zacks

Tuesday, December 16, 2025

We are finally up to date on the Employment Situation report from the U.S. Bureau of Labor Statistics (BLS) this morning. After skipping over October initially and pushing back the November numbers a week and a half, we finally see where we are: +64K now jobs were created last month overall, with an Unemployment Rate rising to +4.6%.

Let’s look at the Unemployment Rate first, because it is relatively simple and comprehensive. It’s the highest rate of overall unemployment since July 2021, when we were also growing the labor market by more than +900K jobs that month. Today’s Unemployment Rate is the fifth straight month higher, from June 2025’s +4.1% (although October currently shows a blank space).

 

Healthcare services once again saw the biggest number of new hires by sector last month, +46K, followed by Construction at +28K and Social Assistance jobs +18K. Trade/Transportation/Utilities fell -18K for the month, and other key sectors — Manufacturing, Leisure & Hospitality, etc. — don’t show up in this morning’s briefing on jobs numbers from the BLS.

 

Hourly Wages dropped to +0.1% from an anticipated +0.3% (+3.5% year over year, 10 bps lower than expected), which is a sign that labor is not currently aggravating inflation. That said, the number of Americans working part-time for economic reasons has blossomed from +909K in September to +5.5 million last month. This explains somewhat the dip in the Average Workweek to 34.2 hours in November.

Meanwhile, Labor Force Participation actually increased to 62.5%, the best rate since April of this year. This metric looks aligned to a good extent with this massive increase in part-time workers, and it has to do with the deferred resignation program in October, which shed -157K federal government jobs in that month alone. This is slightly higher than the anticipated -150K government jobs shed.

 

 

October Headline: -105K Jobs, +52K Private Sector

 

 

Those federal government layoffs were part of a systemic, planned removal of the federal government workforce, first brought about by Elon Musk’s DOGE program but more effectively by these deferred resignation offers. It appears to be a one-time adjustment to the labor market, but it is a significant adjustment. Federal government employment is down -271K so far, year to date.

 

The trailing 4-month average in job growth is currently +16K, including the big October drawdown. The 4-month average previous to that is +59K, and +159K in the 4-month average from December 2024-March 2025. Even today’s seemingly decent +64K new jobs created overall is less than a quarter of the +261K reported in November of 2024.

 

Key for the American labor market going forward will be whether — and to what extent — the private sector will be willing to absorb these ex-government workers into 2026. This was part of the architecture to the Big Beautiful Bill, making companies more profitable to, in theory, hire a bigger labor force. But the numbers are daunting: +316K Americans are newly out of work between September and November.

 

 

How Has the Market Reacted to the Jobs Numbers?

 

 

Pre-market futures were in the shallow red directly ahead of the BLS numbers hitting the tape this morning, then veered into the green moments afterward. However, they’ve since slid to slightly worse levels at this hour, though still nothing dire: the Dow is -25 points at this hour, the S&P 500 is -10, the Nasdaq -62 points and the small-cap Russell 2000 is -2 points presently. Bond yields for both the 10-year and 2-year have increased: to +4.17% and +3.48%, respectively.

 

As for odds on the next interest rate cut based on these figures, they don’t appear to have much moved the needle: chances for a January cut are currently less than 25%, while March — the meeting directly following — remains a coin flip.

We will get into details on today’s October Retail Sales report in out afternoon write-up, and we’ll be sure to include S&P flash Services and Manufacturing PMI and a fiscal Q4 earnings report from wide-range homebuilder Lennar LEN, which looks to break its streak of two-straight negative earnings surprises.

Questions or comments about this article and/or author? Click here>>

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23.

Exchange-Traded Funds, Equity Futures Lower Pre-Bell Tuesday Ahead of Economic Data Releases

2025-12-16 13:30:46 by MT Newswires from MT Newswires

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.02% and the actively traded Invesco QQQ Trust (QQQ) retreated 0.2% in Tuesday's premarket activity ahead of key economic data.

US stock futures were also lower, with S&P 500 Index futures down 0.1%, Dow Jones Industrial Average futures slipping 0.03%, and Nasdaq futures retreating 0.2% before the start of regular trading.

Nonfarm payrolls report for November, the housing starts and permits data for November, and the delayed retail sales report for October will be released at 8:30 am ET.

The purchasing managers' index report from S&P Global (SPGI) for December is out at 9:45 am, followed by the delayed business inventories report for September at 10 am.

In premarket action, bitcoin was up by 1.5%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 2% higher, Ether ETF (EETH) advanced 0.8%, and Bitcoin & Ether Market Cap Weight ETF (BETH) gained 2.3%.

Power Play:

Consumer

The State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.2%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) gained 0.1%, and the iShares US Consumer Staples ETF (IYK) advanced 0.1%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.1%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) marginally increased by 0.02%.

Vital Farms (VITL) shares were down more than 12% pre-bell after the company lowered its full-year 2025 net revenue guidance to a range of $755 to $765 million from the previous guidance of at least $775 million.

Winners and Losers:

Health Care

The State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.2%. The Vanguard Health Care Index Fund (VHT) was up 0.04%, while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) was down 0.1%

Abivax (ABVX) stock was down more than 3% premarket a day after the company reported a Q3 loss of 2.10 euros ($2.47) per diluted share, widening from a loss of 0.87 euro a year earlier.

Technology

The State Street Technology Select Sector SPDR ETF (XLK) retreated 0.03%, and the iShares US Technology ETF (IYW) was 0.1% lower, while the iShares Expanded Tech Sector ETF (IGM) was up 0.3%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was down 0.3%, while the iShares Semiconductor ETF (SOXX) declined by 0.1%.

IonQ (IONQ) shares were up more than 2% in recent premarket activity after Jefferies initiated the company at buy with a $100 price target.

Financial

The State Street Financial Select Sector SPDR ETF (XLF) advanced 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.3%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.2% lower.

Mitsubishi UFJ Financial Group (MUFG) shares were down more than 2% pre-bell after the company named president and group CEO Hironori Kamezawa as the company chairman, effective April 1, 2026.

Energy

The iShares US Energy ETF (IYE) was down 0.1%, while the State Street Energy Select Sector SPDR ETF (XLE) declined by 0.5%.

Equinor (EQNR) stock was down more than 1% before Tuesday's opening bell after the company said its Equinor Refining Norway unit received a fine of 220 million Norwegian kroner ($21.7 million) and a confiscation claim of 500 million kroner for historical pollution control violations.

Industrial

The State Street Industrial Select Sector SPDR ETF (XLI) retreated 0.01%, while the Vanguard Industrials Index Fund (VIS) gained 0.2%, and the iShares US Industrials ETF (IYJ) rose 0.4%.

Commodities

Front-month US West Texas Intermediate crude oil was down 1.6% to $55.88 per barrel on the New York Mercantile Exchange. Natural gas was down 1.9% to $3.94 per 1 million British Thermal Units. The United States Oil Fund (USO) retreated by 1.4%, while the United States Natural Gas Fund (UNG) fell by 2.1%.

Gold futures for February were down by 0.3% to $4,321.70 an ounce on the Comex, and silver futures advanced by 2.6% to $63.17 an ounce. SPDR Gold Shares (GLD) retreated by 0.2%, and the iShares Silver Trust (SLV) was 1.7% lower.

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24.

Index Return Series Paper 2: Index Futures and Futures Indexes

2025-12-15 22:53:40 by Nasdaq Global Indexes from etf.com

At a Glance:

• Futures are highly liquid derivatives with low upfront capital requirements and are primarily used to hedge and speculate on a wide range of financial assets.
• Technological advancements and retail accessibility have led to record volumes in Nasdaq-100® futures.
• The Nasdaq-100 Futures Excess Return™ Index allows for systematic, long-term implementation of Nasdaq-100 futures, enabling investors to access leveraged, pure play exposure to the Nasdaq-100 through Structured Notes and Insurance Products.

In the previous paper, we explored the various forms of index returns and broke down the difference between funded and unfunded indexes. To recap, there were three forms of index returns – Price Return, Total Return, and Excess Return – with Excess Return Indexes being unfunded. The reason Excess Return Indexes are unfunded is because their exposure is synthetically created through derivatives such as futures rather than organically created through direct exposure to the underlying assets. Although futures have a reputation for complexity, thoughtfully incorporating them into indexes can offer investors access to a more diverse set of risk and return profiles.

In this paper, we will dive deeper into what equity futures contracts are, when they are used inside of excess return indexes, and why/how they are implemented. In particular, we will focus on how E-mini Nasdaq-100® Futures (NQ) are used inside of the Nasdaq-100 Futures Excess Return™ Index (NDXNQER™).

How do Futures Contracts Work?

Futures contracts are agreements to buy or sell an asset at a predetermined price at a specific time in the future. Unlike most derivatives, these contracts are standardized and traded on exchanges, making them highly liquid and efficient to trade. The key feature of futures contracts is that they lock in a price now for a transaction that will occur later, which can help investors manage the risk of price fluctuations. Investors can buy futures contracts tied to equities, commodities, government bonds, and even cryptocurrencies.

For a deeper dive on futures, check out the following resources:

• Futures Fundamentals: Futures Fundamentals is an industry-wide education initiative to provide accessible and introductory learning on derivatives marketplaces.
• Understanding Futures: A Nasdaq paper explaining the role and mechanism of futures.
• CME Group: For more in-depth futures education, CME Group provides accredited courses that can deepen your futures knowledge to a more institutional level. 

Like most derivatives, futures are used primarily for two purposes: hedging and speculation, offering three key advantages: 

1. Lower Upfront Capital Required: You can establish a large notional exposure to an asset through a futures contract with a fraction of the upfront capital. This is because futures only require you to post collateral on day 1 of a transaction, which is a fraction of your total asset exposure.
2. High Liquidity: Futures markets are often more liquid than the markets for the underlying assets they track, making them far more efficient to trade in large volumes.
3. Central Counterparty: Because all futures trades are cleared and guaranteed by a central exchange, there is no counterparty risk. This is unlike other derivatives, such as forwards or swaps, where there is risk that a counterparty is unable to meet the obligations of the transaction at expiry. By removing counterparty risk, that further improves liquidity in the futures markets. 

Collateral, also known as margin, is a “good faith” deposit that traders are required to post with a broker to open/maintain a futures position and cover potential losses.

Hypothetical Cash-Settled Futures Contract Exposure:

_{Source: Nasdaq}

The above diagram showcases the experience of executing and holding a futures contract. Futures require the contract holder to pay/receive only the difference in value between the starting and ending price, rather than the total value of the asset itself. Doing so allows the contract holder to establish a position with as much as 50 times implied leverage, depending on the collateral requirements. In other words, compared to purchasing an asset outright, a futures contract holder can generate the same amount of exposure to the same asset with as little as 1/50th of the upfront capital required.

The above diagram showcases a contract that is “cash settlement”. Futures contracts, when possible, can also be “physical settlement”, which allows the contract holder to receive the physical asset at maturity.

Additionally, one of the benefits of holding futures is that you can use cash equivalents such as Treasury Bills to collateralize a futures position instead of non-interest-bearing cash. We can differentiate between the inclusion and exclusion of interest earned on collateral by defining the type of return:

• Excess Return = (Ending Value – Starting Value)
• Total Return = (Ending Value – Starting Value) + Interest earned from collateral

NQ: The Role of Equity Index Futures

Futures contracts can be tied to various assets, but for equity markets specifically, equity index futures are the predominant type of futures used. For US equity markets, there are two index futures in particular that have seen widespread adoption: the S&P 500 E-mini futures (ES) and the Nasdaq-100 E-mini futures (NQ). The E-mini futures are futures contracts that are typically one-fifth the size of a standard futures contract, have quarterly expiry, and are electronically traded on the Chicago Mercantile Exchange (CME). Their relatively smaller size has made them a more flexible tool for investors and has led to the snowball effect of higher volume making the contracts extremely liquid.

Notably, NQ has been used as a proxy to hedge and speculate on both the broad US Equity Market and the “Magnificent 7”, which is a group of 7 stocks listed on the Nasdaq Stock Market® that have disproportionately driven market performance in recent years. Below is a chart illustrating how volume and open interest in Nasdaq-100 futures has expanded over the course of the 21st century:

_{Source: Nasdaq, CME, Bloomberg. Data as of 12/31/2024. Open Interest on Left-Hand Y-Axis, Volume on Right-Hand Y-Axis (rhs).}

The increase in futures trading volume likely arose from three primary drivers:

1. Technological Advancements in Trading Futures: With risk-optimized and regulatory-friendly electronic trading platforms, more powerful computational systems, and the introduction of AI-powered High Frequency Trading (HFT), trading higher volumes of futures became far more automated for institutional investors.
2. Increased Retail Accessibility: With the inclusion of commission-free trading, smartphone-app based platforms, and easier to access financial education, an increased number of retail investors also began trading futures and other derivatives. This particularly had a strong effect on the Micro E-mini Nasdaq-100 Futures, which were introduced on May 6, 2019. By being 1/10th of the contract size of a traditional E-mini contract, Micro E-mini futures allowed for further accessibility to a retail audience already becoming more attuned to futures.
3. Nasdaq-100 Maturation and Adoption: At the same time, the Nasdaq-100 evolved into an increasingly important benchmark for US equity investors of all kinds, accelerating inflows and volumes across the expanding NDX® product ecosystem including futures.

NQ first helped revolutionize short-term futures trading, but longer-term investors and market participants were also looking for futures exposure extending beyond three months. 

NDXNQER™: An Index of Rolling Index Futures

Enter the Nasdaq-100 Futures Excess Return™ Index (NDXNQER™), created to provide rolling exposure to NQ active futures contracts. This index offers a systematic approach for determining when to “roll” to the next contract, thereby minimizing the need for manual adjustments. Naturally, this systematic approach has led the index to find success in financial products wherein long-term futures exposure is utilized to deliver a fully managed solution. In particular, structured notes and annuities have seen increased use of NDXNQER in recent years.

Rolling Exposure refers to the act of periodically renewing an expiring futures contract such that an investor is constantly being provided consistent exposure to a specific type of futures contract.

How exactly does the index systematically roll futures contracts?

1. The active contract expires on the third Friday of the third month in every quarter – namely March, June, September, and December.
2. The transition to the following contract happens on the 5th, 4th, and 3rd day preceding the contract expiration.
3. On each of those three days, one-third of the expiring contracts get replaced with the following contracts, as illustrated below:

_{Source: Nasdaq}

In the scenario there is a disruption event on a roll day, two-thirds of the expiring contracts would be replaced.
Additional details about the methodology can be found here. Regarding the impact of the methodology on performance, the chart below illustrates the results:

In the scenario there is a disruption event on a roll day, two-thirds of the expiring contracts would be replaced.
 

Additional details about the methodology can be found here. Regarding the impact of the methodology on performance, the chart below illustrates the results:

 

_{Source: Nasdaq, Bloomberg. Data between 12/31/2004 and 12/31/2024. Index live date on 4/1/2024, with simulated (backtested) data used for prior dates. Index Value on Left-Hand Y-Axis, Difference in Index Value on Right-Hand Y-Axis (rhs).}

An analysis of the past two decades indicates that NDXNQER has achieved over 90% of the annualized return generated by NDX, which itself has significantly outperformed the broader US markets during this timeframe. The performance gap arises from the difference in return type, where NDX is a funded price return index and NDXNQER is an unfunded excess return index. As explained in the previous paper, an unfunded excess return index subtracts the cost of financing the assets via leveraged futures positions, therefore removing interest rate exposure from an index’s return. In the futures world, this phenomenon is often referenced as the “cost of carry”.

• For purely financial assets like equity indexes, the cost of carry refers to interest expense incurred while holding assets until contract maturity, which is factored into futures prices. Higher interest rates increase financing costs and reduce futures prices, explaining recent performance differentials between NDX and NDXNQER during periods of elevated rates. Importantly, excess return indexes exclude any interest earned from collateral that might offset the cost of financing the trade.
   
  

Because interest rates have a natural lower bound of zero, there will (almost) never be a scenario in which an unfunded excess return index would outperform a funded price return index. What, then, explains any investor’s decision to utilize NDXNQER over NDX? There are two reasons an investor would track NDXNQER via a financial product:   

1. Leveraged exposure to the Nasdaq-100 through an index-linked solution:

   Typically, a financial institution creating a product that employs significant leverage will link to the performance of NDXNQER over NDX. This is often done to make the product feasible for the institution to hedge (and therefore offer to clients) given the significantly lower transaction costs of index futures.

   For example, the Nasdaq-100 Max 30™ Index (NDXMAX30™) utilizes NDXNQER to provide leveraged exposure to the Nasdaq-100 inside of Registered Index Linked Annuities.

2. A more “pure play” exposure to Nasdaq-100:

   By utilizing an unfunded excess return index, an investor will strictly receive the performance of the Nasdaq-100 above the risk-free rate in the market. This often has the added benefit of securing more attractive terms in the financial product they are purchasing through.

   For example, purchasing a hypothetical Fixed Index Annuity linked to the performance of NDXNQER will provide a higher cap or par rate compared to traditional NDX.

On a more theoretical note, every equity investment’s return stream can be dissected into variables according to a pricing model such as the CAPM, in which the risk-free rate plays a central role. Disaggregating the impact of interest rates enables certain more sophisticated investors to isolate investment return drivers unique to equities, otherwise known as the equity risk premium. Although the average investor may still consider NDX to be the most suitable index, there are distinct scenarios that make NDXNQER the more attractive, or even exclusive, choice for certain investor segments. 

Conclusion

Exploring equity index futures within excess return indexes shows that the benefits of short-term index futures trading can extend to long-term financial products. In particular, the low upfront capital requirements and the high liquidity of futures have made them the ideal vehicle for hedging and speculation by institutional and retail investors alike. As a result, Nasdaq-100 E-mini Futures (NQ) now serve as a useful proxy for both US Equity Markets and the “Magnificent 7”, driven by technological advancements and retail accessibility. With markets for NQ more robust than ever, investors have increasing opportunities to invest in this market through Structured Notes and Insurance Products linked to the Nasdaq-100 Futures Excess Return Index (NDXNQER).

For more information on how Nasdaq can work for you, please see below:

Nasdaq Global Indexes

Nasdaq Insurance Solutions

Global Indexes: Research Insights

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_Disclaimer:

_{Nasdaq® is a registered trademark of Nasdaq, Inc. The information contained above is provided for informational and educational purposes only, and nothing contained herein should be construed as investment advice, either on behalf of a particular security or an overall investment strategy. Neither Nasdaq, Inc. nor any of its affiliates makes any recommendation to buy or sell any security or any representation about the financial condition of any company. Statements regarding Nasdaq-listed companies or Nasdaq proprietary indexes are not guarantees of future performance. Actual results may differ materially from those expressed or implied. Past performance is not indicative of future results. Investors should undertake their own due diligence and carefully evaluate companies before investing. ADVICE FROM A SECURITIES PROFESSIONAL IS STRONGLY ADVISED.}

_{© 2025. Nasdaq, Inc. All Rights Reserved.}

 

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25.

Index Return Series Paper 1: A Guide for Total, Price, and Excess Return Indexes

2025-12-15 22:41:43 by Nasdaq Global Indexes from etf.com

At a Glance:

• Index Returns are driven by 3 components: Reference Rate, Risk Premium, and Periodic Income.
• The 3 components are combined in various fashions to create Total, Price, and Excess Return Indexes, which all hold unique use cases to use inside financial products.
• The difference in performance between the Indexes is dependent on the relationship between the prevailing reference rate and periodic income being paid by the tracked assets.
   
  

Indexes are instrumental for tracking the performance of various assets, and it's essential to understand the different types of return streams that can be calculated for any given index. There are four primary types of index returns: Price Return (PR), Total Return (TR), Net Total Return (NTR), and Excess Return (ER). Each of these returns provides a unique perspective on the performance of an index, and understanding the differences between them is crucial for making informed investment decisions.

In this paper, we will explore the definitions, examples, and performance of total, price, and excess return indexes. While net total returns are important, they are generally only used as a proxy by investors to estimate an after-tax total return.

How Returns are Calculated

Before diving into the specifics of each return type, let's take a step back and understand the three components that contribute to an Index’s return profile:

Point	Reference Rate	Risk Premium	Periodic Income
Definition	The baseline return an investor can earn in the market.	The additional return an investor expects to earn for taking on more risk.	The distributions made by an investment to its holders.
Typical Example	Risk-Free Interest Rate: SOFR, Federal Funds Rate, US Treasuries, etc.	The return on an investment exceeding a reference rate.	Dividends received on an investment.
Context	The reference rate is embedded in the return of the asset. Since it is not distinctly visible, it must be defined by a product provider when necessary.	This premium reflects the increased uncertainty and potential for losses associated with a particular investment. Because risky assets such as stocks can incur losses, risk premiums can be either positive or negative.	Periodic income, while not always guaranteed, can reflect the consistent return attributable to an underlying investment.

For example, if a given company’s stock produced a loss of -10% over 1 year, its reference rate was +5%, and the stock held a dividend yield of +2%:

• The risk premium taken by investing in the stock would be -15% (i.e. a negative equity risk premium of 15%).
• Upon adding the 2% dividend (assuming no compounding), the stock would have underperformed the reference rate by 13%.
   
  

The three components stated above form the foundation for the various index return profiles, which will be examined in the following sections of this paper.

Three Types of Index Returns

When Nasdaq creates an index to track the performance of multiple assets, a choice is implicitly made around which of the above return components should be tracked by multiple versions of the index. Depending on the use case of the index and return profile desired by investors, it might be relevant to reference some or all of them. Nasdaq can create the following three types of indexes through the various combinations of return components:

Price Return Index = Reference Rate + Risk Premium

• Focus solely on the price changes of the underlying assets within the index, excluding any periodic income. 

  Total Return Index = Reference Rate + Risk Premium + Periodic Income

• Measure the performance of an index by considering both the price changes of the underlying assets and any periodic income generated from those assets.
• This process involves reinvesting the periodic income back into the index value, thereby allowing the index to compound.

Excess Return Index = Total (or Price) Return Index - Reference Rate

• Calculate the performance of a total or price return index above a predetermined reference rate.
• In the index industry, the reference rate is typically referred to as a Risk-Free Rate – such as SOFR, Federal Funds, or US Treasuries – unless otherwise stated in the Index Methodology.

As imaginable, these equations closely mirror the numerator of the Sharpe ratio, which measures risk adjusted return. Not only is their performance measured as such, but it also informs how the different indexes are used in the context of financial products.

The above diagram displays the relationship between the three different index return profiles. Total Return, as the name suggests, is comprised of all return components. From there, components are subtracted out to track other variations of Index Return. When periodic income is removed, a Total Return Index turns into a Price Return Index. Meanwhile, when the Reference Rate is subtracted from either variation, it becomes an Excess Return Index.

It is important to consider the inclusion of the Reference Rate in the Index to determine if an asset invests capital upfront. Doing so can determine whether an index is funded or unfunded, which is displayed in the diagram above. Understanding the nuances between the two can explain the use cases for each, which is shown in the table be
 

Point	Funded Index	Unfunded Index
Definition	An index whose underlying assets are being fully purchased upfront. By investing upfront, the investor gains both the reference rate and the index risk premium. The reference rate compensates the investor for providing the full cost of financing upfront.	An index in which the returns of the underlying assets are replicated through synthetic exposure. Because there is no upfront investment, investors will not receive exposure to the reference rate. The cost of funding the assets are embedded in the index.
Typical Underlying Assets	Stocks Bonds Real Assets	Derivatives (Futures and Swaps)
Index Types	Total Return Price Return	Excess Return
Examples	Nasdaq-100 Index® (NDX®) Invests in the top 100 non-financial stocks on the Nasdaq exchange.	Nasdaq-100 Futures Excess Return™ Index (NDXNQER™) Generates exposure to NDX through the nearest expiring E-mini Nasdaq-100 futures contract.

To read the full paper - covering the applications and performance of different index returns - please click here.
 

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For more information on how Nasdaq can work for you, please see below:

Nasdaq Global Indexes

Nasdaq Insurance Solutions

Global Indexes: Research Insights 

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_Disclaimer:

_{Nasdaq® is a registered trademark of Nasdaq, Inc. The information contained above is provided for informational and educational purposes only, and nothing contained herein should be construed as investment advice, either on behalf of a particular security or an overall investment strategy. Neither Nasdaq, Inc. nor any of its affiliates makes any recommendation to buy or sell any security or any representation about the financial condition of any company. Statements regarding Nasdaq-listed companies or Nasdaq proprietary indexes are not guarantees of future performance. Actual results may differ materially from those expressed or implied. Past performance is not indicative of future results. Investors should undertake their own due diligence and carefully evaluate companies before investing. ADVICE FROM A SECURITIES PROFESSIONAL IS STRONGLY ADVISED.}

_{© 2025. Nasdaq, Inc. All Rights Reserved.}

 

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26.

What Analysts Think Is Changing Invesco’s Story Now

2025-12-15 19:06:44 by Simply Wall St from Simply Wall St.

Invesco's fair value estimate has inched higher to about $27.08 per share, as analysts factor in a slightly lower discount rate and a modestly improved long term revenue trajectory supported by stronger markets and incremental operating leverage. Street research remains broadly constructive, but it also acknowledges that QQQ related execution risks and timing uncertainties could still introduce bumps along the way. Stay tuned to learn how you can track these evolving assumptions and the shifting narrative around Invesco in real time.

Stay updated as the Fair Value for Invesco shifts by adding it to your watchlist or portfolio. Alternatively, explore our Community to discover new perspectives on Invesco.

What Wall Street Has Been Saying

🐂 Bullish Takeaways

• BMO Capital is openly constructive, initiating coverage with an Outperform rating and a $28 target, arguing Invesco is still inexpensive versus peers and that further debt paydowns can support a higher valuation multiple.
• TD Cowen remains firmly positive, lifting its price target to $30 and keeping a Buy rating after investor meetings, citing a favorable direction of travel for long term net new assets, base revenue growth, margins, and balance sheet flexibility.
• RBC Capital raised its target to $25 and highlights benefits from operating leverage following Invesco's Q3 earnings beat, reinforcing the idea that solid execution on costs and efficiency can sustain earnings power.
• BofA also nudged its target to $25 with a Neutral rating, reflecting better EPS estimates supported by stronger equity and bond markets, which underpins a more constructive earnings backdrop even from more tempered voices.

🐻 Bearish Takeaways

• BMO Capital flags the delayed QQQ proxy vote as a setback, warning that another vote and added uncertainty around the trust to ETF conversion introduce near term execution risk despite the long term fee savings for investors.
• RBC Capital, while raising its target, keeps a Sector Perform stance, implying that some upside may already be reflected in the shares and that successful QQQ reclassification remains a key swing factor for valuation.
• BofA's Neutral rating, even after moving its target to $25, signals a more cautious view that sector wide market tailwinds and higher EPS expectations could be largely priced in, leaving less room for missteps on execution or flows.

Do your thoughts align with the Bull or Bear Analysts? Perhaps you think there's more to the story. Head to the Simply Wall St Community to discover more perspectives or begin writing your own Narrative!

What's in the News

• Adjourned the special meeting to vote on the proposed QQQ Trust restructuring, pushing the proxy vote to December 5 and underscoring ongoing quorum and process challenges around the high profile conversion plan.
• Entered a strategic partnership with LGT Capital Partners to build multi alternative private markets solutions for U.S. wealth and retirement clients, aiming to deepen Invesco's presence in higher fee alternative strategies.
• Signed a $500 million Preferred Share Repurchase Agreement with Massachusetts Mutual Life Insurance Company for Series A preferred shares at an 18% premium, a move expected to simplify the capital structure while keeping MassMutual as a key shareholder.
• Continued capital return to shareholders by repurchasing more than 1.2 million shares in the third quarter, bringing total buybacks under the long running 2016 authorization to over 65 million shares.

How This Changes the Fair Value For Invesco

• Fair Value: Risen slightly from approximately $26.38 to about $27.08 per share, reflecting modestly improved long term assumptions.
• Discount Rate: Decreased marginally from around 8.47% to about 8.45%, implying a slightly lower perceived risk profile or cost of capital.
• Revenue Growth: Improved modestly, with the long term contraction rate easing from roughly -4.36% to about -4.28%, indicating a slightly less severe decline in expected revenues.
• Net Profit Margin: Edged down fractionally from about 27.15% to roughly 27.09%, suggesting essentially stable long term profitability expectations.
• Future P/E: Increased slightly from approximately 9.86x to about 10.12x, signaling a modest uptick in the multiple investors may be willing to pay for forward earnings.

🔔 Never Miss an Update: Follow The Narrative

Narratives are where investors turn numbers into stories, connecting their view of a company’s future revenues, earnings, and margins to a clear fair value. On Simply Wall St’s Community page, millions of investors use Narratives to link Invesco’s business story to a financial forecast, then compare Fair Value to today’s Price to identify potential opportunities. As news and earnings are released, these Narratives update dynamically so your view of Invesco moves in step with the facts.

Read the original Invesco Narrative and stay aligned with how the story and fair value evolve over time.

Follow the full Invesco Narrative on Simply Wall St to stay on top of:

• How operating leverage, cost discipline, and share repurchases could affect margins and EPS even if revenues contract.
• Whether QQQ’s proposed structural shift and changes in ETFs, alternatives, and digital platforms can offset fee pressure.
• How analysts’ fair value, discount rate assumptions, and future P/E respond as competition, regulation, and flows evolve.

Curious how numbers become stories that shape markets? Explore Community Narratives

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include IVZ.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

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27.

Did the QQQ Bull Run Just End? Here’s Why This Candlestick is a Bearish Confirmation.

2025-12-15 18:14:01 by Barchart Insights from Barchart

On the date of publication, Barchart Insights did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com

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28.

Exchange-Traded Funds Fall as US Equities Edge Lower After Midday

2025-12-15 18:11:09 by MT Newswires from MT Newswires

Broad Market Indicators

Broad-market exchange-traded funds IWM and IVV pointed lower. Actively traded Invesco QQQ Trust (QQQ) shed 0.3%.

US equity indexes declined while most government yields also retreated in midday trading on Monday.

Energy

iShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each slipped 1.4%.

Technology

The State Street Technology Select Sector SPDR ETF (XLK) fell 0.5%; iShares US Technology ETF (IYW) was down 0.4%, while iShares Expanded Tech Sector ETF (IGM) dipped 0.9%.

The State Street SPDR S&P Semiconductor (XSD) was 0.7% lower, and iShares Semiconductor (SOXX) fractionally lower.

Financial

The State Street Financial Select Sector SPDR (XLF) was little changed. Direxion Daily Financial Bull 3X Shares (FAS) added 0.1%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), shed 0.1%.

Commodities

Crude oil was 1.3% lower, and the United States Oil Fund (USO) dropped 1.4%. Natural gas fell 1.3%, and the United States Natural Gas Fund (UNG) declined 1.2%.

Gold on Comex added 0.1%, and the State Street SPDR Gold Shares (GLD) rose less than 0.1%. Silver gained 2.6%, and iShares Silver Trust (SLV) was up 2.5%.

Consumer

The State Street Consumer Staples Select Sector SPDR (XLP) lost 0.1%. The Vanguard Consumer Staples ETF (VDC) and iShares Dow Jones US Consumer Goods (IYK) were mixed, with the latter rising 0.6%.

The State Street Consumer Discretionary Select Sector SPDR (XLY) added 0.8%. VanEck Retail ETF (RTH) lost 0.2%, and the State Street SPDR S&P Retail (XRT) rose 0.3%.

Health Care

The State Street Health Care Select Sector SPDR (XLV) was up 0.3%, and iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) also edged higher; iShares Biotechnology ETF (IBB) dipped 0.1%.

Industrial

The State Street Industrial Select Sector SPDR (XLI) was 0.2% higher. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) were in the red.

Cryptocurrency

In midday activity, bitcoin (BTC-USD) was down 3.4%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) shed 5%, ProShares Ether ETF (EETH) dropped 4.7%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) lost 5%.

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29.

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Monday Ahead of Data-Filled Week

2025-12-15 14:02:06 by MT Newswires from MT Newswires

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.5% and the actively traded Invesco QQQ Trust (QQQ) was 0.5% higher in Monday's premarket activity, ahead of a week filled with data releases.

US stock futures were also higher, with S&P 500 Index futures up 0.5%, Dow Jones Industrial Average futures advancing 0.5%, and Nasdaq futures gaining 0.6% before the start of regular trading.

The New York Federal Reserve's Empire State manufacturing index fell to negative 3.9 in December from 18.7 in November, compared with a much smaller expected decrease to a reading of 10.0 in a survey compiled by Bloomberg.

The NAHB Housing Market Index will be released at 10 am ET.

Federal Reserve New York President John Williams speaks at 10:30 am ET.

In premarket activity, bitcoin was up by 1.2%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.5% lower, Ether ETF (EETH) advanced 2.7%, and Bitcoin & Ether Market Cap Weight ETF (BETH) retreated marginally by 0.01%.

Power Play:

Health Care

The State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.4%. The Vanguard Health Care Index Fund (VHT) retreated 0.02%, while the iShares US Healthcare ETF (IYH) rose 3.1%. The iShares Biotechnology ETF (IBB) gained 0.6%.

Argenx (ARGX) stock was down more than 5% premarket after the company said that it has discontinued a phase 3 study of its therapy, subcutaneously administered efgartigimod in adults with moderate to severe thyroid eye disease.

Winners and Losers:

Financial

The State Street Financial Select Sector SPDR ETF (XLF) advanced 0.01%. Direxion Daily Financial Bull 3X Shares (FAS) was up 1.7%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 1.5% lower.

Prudential (PUK) shares were up more than 2% pre-bell after the company said it will launch a share repurchase program of about 2.2 million ordinary shares for 0.05 British pounds ($0.067) per share to reduce its issued share capital.

Industrial

The State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.01%, while the Vanguard Industrials Index Fund (VIS) gained 1.3% and the iShares US Industrials ETF (IYJ) was inactive.

Rocket Lab (RKLB) stock was up more than 2% before the opening bell after the company said Saturday that it had launched its first dedicated mission for the Japan Aerospace Exploration Agency, or JAXA, from its launch complex in New Zealand.

Technology

The State Street Technology Select Sector SPDR ETF (XLK) advanced by 0.5%, and the iShares US Technology ETF (IYW) was 0.8% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 1.1%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was inactive, while the iShares Semiconductor ETF (SOXX) rose by 1.1%.

STMicroelectronics (STM) shares were up more than 2% in recent premarket activity after Reuters reported that the company has delivered over 5 billion radio-frequency antenna chips for SpaceX's Starlink network since around 2015, with the number likely doubling in the next two years.

Consumer

The State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.5%, while the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was flat. The iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.7%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) rose 1.5%.

Tesla (TSLA) shares were up more than 1% pre-bell after Reuters reported, citing Equilar analysis board, that the EV-maker has made more than $3 billion from stock awards, far more than directors at other major tech companies.

Energy

The iShares US Energy ETF (IYE) was up 0.1%, while the State Street Energy Select Sector SPDR ETF (XLE) advanced by 0.4%.

Commodities

Front-month US West Texas Intermediate crude oil was down 0.1% at $57.36 per barrel on the New York Mercantile Exchange. Natural gas was down 0.3% at $4.10 per 1 million British Thermal Units. The United States Oil Fund (USO) retreated by 0.2%, while the United States Natural Gas Fund (UNG) declined by 0.2%.

Gold futures for February were up by 0.9% at $4,369.30 an ounce on the Comex, and silver futures retreated by 2.6% to $63.88 an ounce. SPDR Gold Shares (GLD) rose by 0.9%, and the iShares Silver Trust (SLV) was 3.3% higher.

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30.

QQQ vs. MGK: Which Tech-Focused ETF Delivers Stronger Growth for Investors?

2025-12-14 21:41:32 by Katie Brockman, The Motley Fool from Motley Fool

The Vanguard Mega Cap Growth ETF (NYSEMKT:MGK) and Invesco QQQ Trust, Series 1 (NASDAQ:QQQ) both target large-cap U.S. growth stocks, but QQQ stands out for its deeper liquidity, broader sector reach, and slightly higher yield, while MGK keeps costs lower.

MGK tracks the CRSP U.S. Mega Cap Growth Index, focusing on the largest growth names. QQQ, by contrast, tracks the NASDAQ-100, covering 101 of the largest non-financial companies on the Nasdaq exchange. This match-up compares performance, cost, risk, and portfolio construction.

Snapshot (cost & size)

Metric	MGK	QQQ
Issuer	Vanguard	Invesco
Expense ratio	0.07%	0.20%
1-yr return (as of Dec. 14, 2025)	15.8%	15.7%
Dividend yield	0.37%	0.46%
Beta (5Y monthly)	1.24	1.19
AUM	$32.7 billion	$403.0 billion

Beta measures price volatility relative to the S&P 500. The 1-yr return represents total return over the trailing 12 months.

MGK is more affordable on fees with a lower expense ratio, while QQQ pays a slightly higher dividend yield. MGK may appeal to fee-conscious investors, while QQQ can have an edge for those seeking more income from a growth-focused ETF.

Performance & risk comparison

Metric	MGK	QQQ
Max drawdown (5 y)	-36.02%	-35.12%
Growth of $1,000 over 5 years	$2,083	$2,033

What's inside

QQQ contains 101 holdings, around 54% of which are allocated to the technology sector. Its second- and third-largest sector allocations include communication services (17% of assets) and consumer cyclical (13%), respectively.

Its top positions are Nvidia, making up roughly 9% of the fund, Apple at 9%, and Microsoft at 8%. With no unique quirks or leverage, QQQ aims for broad representation of the NASDAQ-100.

MGK, in contrast, is more concentrated in technology (58%), with communication services (15%) and consumer cyclical (12%) as secondary allocations.

Its top holdings are Nvidia at 14%, Apple at 12%, and Microsoft at 12%, reflecting a heavier tilt toward the biggest tech leaders. MGK holds 66 stocks, offering a narrower slice of the large-cap growth universe.

For more guidance on ETF investing, check out the full guide at this link.

What this means for investors

QQQ and MKG both aim to provide exposure to the largest growth stocks, with an emphasis on the tech industry. QQQ, however, offers a broader portfolio with greater diversification, while MGK zeros in on the largest of the large-caps.

MGK focuses on mega-cap growth funds. Mega-cap stocks are generally defined as companies with a market capitalization of at least $200 billion, which is significantly larger than the large-cap cutoff of $10 billion.

This narrower focus can be an advantage when mega-caps are thriving, as we've seen the last few years with companies like Nvidia experiencing explosive growth. However, with fewer holdings and a larger portion of its portfolio allocated to just a handful of stocks, MGK is also at greater risk of volatility if those stocks experience a decline.

QQQ is a broader fund, encompassing both mega-cap and slightly smaller large-cap growth stocks. While its top sectors and holdings align with MGK's, it's not as heavily weighted toward those segments of the market. QQQ's top three holdings make up 25.57% of the fund's total assets, compared to MGK's 38.26% allocation to its top three stocks.

That extra diversification can help limit QQQ's risk, as seen with its slightly lower beta and milder max drawdown compared to MGK.

Investors seeking a lower expense ratio and more targeted access to mega-cap stocks may find MGK preferable, while those seeking slightly more diversification within a growth fund may opt for QQQ.

Glossary

ETF: Exchange-traded fund; a fund that trades on stock exchanges like a stock, holding a basket of assets.
Expense ratio: The annual fee, as a percentage of assets, that a fund charges to cover operating costs.
Liquidity: How easily an asset or fund can be bought or sold without affecting its price.
Dividend yield: Annual dividends paid by a fund or stock, expressed as a percentage of its current price.
Beta: A measure of an investment’s volatility compared to the overall market, typically the S&P 500.
AUM: Assets under management; the total market value of assets a fund manages for investors.
Max drawdown: The largest percentage drop from a fund’s peak value to its lowest point over a specific period.
Growth of $1,000 over 5 years: How much a $1,000 investment would have grown in the fund over five years, including returns.
Sector allocation: The distribution of a fund’s investments across different industries or sectors.
Consumer cyclicals: Companies whose performance tends to follow the economic cycle, such as retailers and automakers.
Portfolio construction: The process of selecting and weighting assets within a fund to achieve specific investment goals.
NASDAQ-100: An index of the 100 largest non-financial companies listed on the Nasdaq stock exchange.

Katie Brockman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple, Microsoft, and Nvidia. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.

QQQ vs. MGK: Which Tech-Focused ETF Delivers Stronger Growth for Investors? was originally published by The Motley Fool

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31.

At 31, He Works 7 Days A Week And Has $13M In The Bank, But Says 'Money Is Meaningless'

2025-12-13 14:02:08 by Adrian Volenik from Benzinga

A 31-year-old hedge fund employee with over $13 million in assets had Reddit buzzing after revealing he still works every single day of the week. 

In a thread on r/Rich, the professional shared a screenshot showing $13,067,710.19 in total assets, mostly invested in stocks, with $239,000 in checking and nothing in savings.

He Says He’d Still Work Even If He Won The Lottery

Despite his wealth, he says he's not slowing down anytime soon. “I always ask myself what I’d be doing if I won $1 billion in the lottery… the answer is always the same, I love what I’m doing, and I’ll keep doing it,” he wrote.

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He works at a credit-oriented hedge fund and said the excitement of being right after months of analysis is what keeps him going. “The money is meaningless at this point,” he said. “A $10 million payday (like $4.5 million after taxes) literally cannot change my life, but you do it for the thrill of being good at something.”

The post sparked more than a thousand comments, with many users asking to be adopted, jokingly offering themselves up for the chance to learn from someone who started with no inheritance and worked their way up to eight figures before turning 32.

No Inheritance, Just Hustle

He explained that he grew up middle-class in the southern U.S. and got into the stock market using summer job money from working at McDonald’s at age 18. He later attended a top Ivy League school, moved into investment banking, and eventually landed at the hedge fund.

Trending: An EA Co-Founder Shapes This VC Backed Marketplace—Now You Can Invest in Gaming's Next Big Platform

“The hedge fund space can be incredibly lucrative for young people because it doesn’t take all that much to come up with good ideas,” he said, explaining how a small team can earn huge rewards when managing big money.

Even though he works every day, he clarified that weekends are more relaxed. “Sometimes the entire weekend [is off], sometimes just an hour to log in and read some stuff,” he wrote. But the underlying stress, he admitted, is constant.

Why Keep Going?

Many commenters urged him to slow down, take a sabbatical, or retire entirely. “Retired at 36/40 with $8M and so glad we did,” one early retiree wrote. “We now have 19M and have enjoyed 6 years of freedom. Want my opinion? Quit today.”

But he pushed back: “I hear you brother, but I would get bored, and that’s my worst nightmare.”

See Also: GM-Backed EnergyX Is Solving the Lithium Supply Crisis — Invest Before They Scale Global Production

He says he travels often, goes to the gym multiple times a week, plays sports, dates, and sees friends. “Money can’t exactly buy happiness, but it damn sure can buy you time,” he said.

His Advice For Others

He believes investing consistently is key to getting rich. “If you have a savings account outside of your 401(k), put aside enough for day-to-day needs, put aside enough for a ‘rainy day,’ then put the rest in the [Invesco QQQ Trust (NASDAQ: QQQ)],” he wrote.

He warned readers against trying to get rich quick. “For those of you trying to get rich quick in the stock market and doing things like ‘day trading’… trust me, you’re better off in Vegas.”

Read Next: Forget Flipping Houses—This Fund Lets You Invest in Home Equity Like Wall Street Does

Image: Imagn

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This article At 31, He Works 7 Days A Week And Has $13M In The Bank, But Says 'Money Is Meaningless' originally appeared on Benzinga.com

© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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32.

Is QQQ or VUG the Better Growth ETF? Here's What Investors Need to Know.

2025-12-13 10:35:01 by Katie Brockman, The Motley Fool from Motley Fool

The Vanguard Growth ETF (NYSEMKT:VUG) and Invesco QQQ Trust, Series 1 (NASDAQ:QQQ) both target U.S. large-cap growth stocks, but QQQ is more expensive and concentrated, while VUG offers broader diversification at a lower fee.

Both funds are popular choices for large-cap growth exposure, with VUG tracking the CRSP U.S. Large Cap Growth Index and QQQ mirroring the NASDAQ-100 Index. Each leans heavily into technology and consumer-facing giants, but their differences in cost, holdings count, and performance may appeal to different types of investors.

Snapshot (cost & size)

Metric	VUG	QQQ
Issuer	Vanguard	Invesco
Expense ratio	0.04%	0.20%
1-yr return (as of Dec. 12, 2025)	14.4%	16.6%
Dividend yield	0.42%	0.46%
Beta (5Y monthly)	1.23	1.19
AUM	$353 billion	$403 billion

Beta measures price volatility relative to the S&P 500. The 1-yr return represents total return over the trailing 12 months.

VUG is markedly more affordable with a 0.04% expense ratio, compared to QQQ’s 0.20% fee. QQQ offers a slightly higher dividend yield at 0.46%, but the difference is minimal and unlikely to drive most decisions between these two funds.

Performance & risk comparison

Metric	VUG	QQQ
Max drawdown (5 y)	-35.61%	-35.12%
Growth of $1,000 over 5 years	$1,984	$2,033

What's inside

QQQ tracks the NASDAQ-100 Index, holding 101 stocks with a sector allocation of 55% technology, 17% communication services, and 13% consumer cyclical, as of December 2025.

Its top holdings are Nvidia, making up 9.09% of the fund's total assets, Apple at 8.75%, and Microsoft at 7.73%. The fund has a long operating history of nearly 27 years, making it one of the most established growth ETFs on the market.

VUG, by contrast, splits its portfolio across 160 stocks, with a similar sector tilt: 53% technology, 14% communication services, and 14% consumer cyclical. Its largest positions mirror QQQ's, but the holdings make up a slightly larger portion of the fund's total assets. Launched in 2004, it has a long track record but not quite as extensive as QQQ.

For more guidance on ETF investing, check out the full guide at this link.

What this means for investors

QQQ and VUG are similar in many ways. They're both popular and established large-cap growth ETFs with a tilt toward technology, and they contain the same top holdings. While QQQ has a slight edge with its one- and five-year total returns, the difference is minimal.

There are two main factors differentiating these two ETFs: fees and diversification.

QQQ has a much higher expense ratio, at 0.20% compared to VUG's 0.04%. In other words, investors can expect to pay either $20 or $4, respectively, per year in fees for every $10,000 invested.

That may seem insignificant, but it can potentially add up to thousands of dollars for long-term investors and those with large account balances.

Also, VUG contains nearly 60 more stocks than QQQ, and that increased diversification can be both an asset and a risk. A greater number of stocks can sometimes help reduce volatility during periods of instability; however, there's also a greater chance that lower-performing stocks will drag down the fund's total returns.

Over the last five years, the two ETFs have seen roughly the same earnings. Where you choose to buy, then, will depend mostly on how much diversification you're seeking as well as how much you're willing to pay in fees.

Glossary

ETF: Exchange-traded fund; a basket of securities traded on an exchange like a stock.
Expense ratio: The annual fee, as a percentage of assets, that a fund charges its investors.
Dividend yield: The annual dividends paid by a fund divided by its share price, shown as a percentage.
Beta: A measure of an investment's volatility compared to the overall market, typically the S&P 500.
AUM: Assets under management; the total market value of assets a fund manages on behalf of investors.
Max drawdown: The largest percentage drop from a fund's peak value to its lowest point over a specific period.
Sector allocation: The distribution of a fund's investments across different industry sectors.
Index tracking: When a fund aims to replicate the performance of a specific market index.
Large-cap: Refers to companies with large market capitalizations, typically over $10 billion.
Total return: The investment's price change plus all dividends and distributions, assuming those payouts are reinvested.
Concentration: The degree to which a fund's assets are invested in a small number of holdings.
Growth stocks: Shares in companies expected to grow earnings faster than the market average.

Katie Brockman has positions in Vanguard Index Funds - Vanguard Growth ETF. The Motley Fool has positions in and recommends Apple, Microsoft, Nvidia, and Vanguard Index Funds - Vanguard Growth ETF. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.

Is QQQ or VUG the Better Growth ETF? Here's What Investors Need to Know. was originally published by The Motley Fool

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33.

Strategy Keeps Nasdaq 100 Listing; What It Means For Bitcoin

2025-12-13 01:39:17 by JED GRAHAM from Investor's Business Daily

Strategy, the bitcoin-holding company, remains part of the Nasdaq 100 index after the annual reconstitution announced Friday evening. MSCI is considering whether to exclude companies whose primary business is acquiring bitcoin or other cryptocurrencies from its indices. Nasdaq didn't indicate that it is reviewing whether Strategy still meets the criteria for the Nasdaq 100, which comprises the exchange's largest nonfinancial firms.

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34.

US Equity Indexes Slump as Broadcom's Outlook for Lower Gross Margin Triggers Technology Exodus

2025-12-12 21:46:58 by MT Newswires from MT Newswires

US equity indexes closed lower on Friday after Broadcom's (AVGO) disappointing gross margin guidance shed light on the costs of getting ahead in the artificial intelligence race, sparking a sell-off in technology.

The Nasdaq Composite slumped 1.7% to 23,195.17, with the S&P 500 down 1.1% to 6,827.41 and the Dow Jones Industrial Average 0.5% lower at 48,458.05. The communication services sector was among the decliners, while consumer staples and materials were among the gainers.

Shares of Broadcom, a chip manufacturing giant, sank 11%, among the worst performers on the S&P 500 and the Nasdaq, after the chipmaker guided to a sequential decline in fiscal Q1 consolidated gross margins. The pressure comes amid an increase in new AI orders in the current fiscal year, according to a Truist Securities note.

"Broadcom's results reignited concerns about a potential AI bubble," according to a note from D A Davidson.

That's mainly because Broadcom reminded investors about the detrimental impact of artificial intelligence-related capital expenditures on margins, after Oracle's (ORCL) results reinforced concerns such as circular funding and debt-funded growth.

Oracle's fiscal Q2 sales missed revenue expectations, as it reported a negative free cash flow of $10 billion and guided a $15 billion increase in its capital expenditure forecast for fiscal 2026. The slump in the company's shares continued into Friday with a decline of 4.5%.

The CBOE Volatility Index, also known as the fear index, jumped 6% to 15.74.

Reflecting the bearish big-tech tilt was the 1.9% drop in the $403 billion Invesco QQQ Trust (QQQ), a tech-heavy exchange-traded fund that offers exposure to Magnificent-7 across technology and communication services sectors.

Similarly, the Global X Artificial Intelligence & Technology ETF (AIQ), with net assets of $6.97 billion and investments in firms related to AI, slumped 2.2%.

Most US Treasury yields rose, with the 10-year advancing 4.7 basis points to 4.19%, also a move that is unhelpful to long-duration assets such as technology and communication services.

Chicago Fed President Austan Goolsbee told CNBC that he dissented at this week's Federal Open Market Committee meeting, voting for no change in interest rates, because he is "uncomfortable" with front-loading too many cuts. He sought assurance that inflation is back on the path to the Fed's 2% target. Goolsbee will next vote on the FOMC in 2027.

The other dissenter, who also did not vote for a cut, was Kansas City Fed President Jeffrey Schmid, as he still sees inflation elevated and sees signs the economy is unrestrained by the current level of rates. Schmid will next vote on the FOMC in 2028.

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35.

US Equity Indexes Slump as Broadcom's Margin Forecast Hits Technology

2025-12-12 20:53:41 by MT Newswires from MT Newswires

US equity indexes declined ahead of Friday's close as Broadcom's (AVGO) gross margin guidance failed to impress investors, triggering a sharp sell-off in the technology sector.

The Nasdaq Composite slumped 1.8% to 23,181.2, with the S&P 500 down 1.2% to 6,820.2 and the Dow Jones Industrial Average 0.6% lower at 48,412.6. The communication services sector was among the decliners, while consumer staples and materials were among the gainers.

Broadcom's shares sank 12%, among the worst performers on the S&P 500 and the Nasdaq, after the chipmaker said fiscal Q1 consolidated gross margins will decline sequentially. The pressure comes amid an increase in new AI orders in the current fiscal year, according to a Truist Securities note.

Reflecting the bearish big-tech tilt was the 2.1% drop in the $403 billion Invesco QQQ Trust (QQQ), a tech-heavy exchange-traded fund that offers exposure to Magnificent-7 across technology and communication services sectors.

Similarly, the Global X Artificial Intelligence & Technology ETF (AIQ), with net assets of $6.97 billion and investments in firms related to AI, slumped 2.4%.

Most US Treasury yields rose in the final leg of trading, with the 10-year advancing 5.3 basis points to 4.19%, also unhelpful to long-duration assets such as technology and communication services.

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36.

US Equity Indexes Decline as Broadcom's Margin Guidance Disappoints Technology Investors

2025-12-12 18:59:27 by MT Newswires from MT Newswires

US equity indexes fell in midday trading on Friday as Broadcom's (AVGO) gross margin guidance failed to impress investors, sparking a sell-off in technology as concern mounted over the scale of artificial intelligence-related expenditures.

The Nasdaq Composite slumped 1.3% to 23,299.1, with the S&P 500 down 0.9% to 6,839.5 and the Dow Jones Industrial Average 0.4% lower at 48,524.7. The communication services sector was among the steepest decliners, while consumer staples and materials were the sole gainers.

Broadcom, a chip manufacturing giant, reminded investors about the detrimental impact of artificial intelligence-related capital expenditures on margins after Oracle's results reinforced concerns such as circular funding and debt-funded growth.

Broadcom shares sank 11%, the worst performer on the S&P 500 and the Nasdaq, after the chipmaker said fiscal Q1 consolidated gross margins will decline sequentially. The gross margin pressure comes amid an increase in new AI orders in the current fiscal year, Truist Securities said in a note, adding that the chipmaker's earnings growth should be "more important" for investors.

Oracle's (ORCL) fiscal Q2 sales missed revenue expectations, as it reported a negative free cash flow of $10 billion and guided a $15 billion increase in its capital expenditure forecast for fiscal 2026. The slump in the company's shares continued into Friday with a decline of 3.7%.

Reflecting the bearish tech tilt, the $403 billion Invesco QQQ Trust (QQQ), a tech-heavy exchange-traded fund offering exposure to Magnificent-7 across technology and communication services sectors, dropped 1.5%.

The Global X Artificial Intelligence & Technology ETF (AIQ), with net assets of $6.97 billion and investments in firms related to AI, slumped 1.7%.

Most US Treasury yields rose, with the 10-year up 5.3 basis points to 4.19%, undermining long-duration assets such as technology and communication services shares.

Meanwhile, Chicago Fed President Austan Goolsbee told CNBC that he dissented at this week's Federal Open Market Committee meeting, voting for no change in interest rates, because he is "uncomfortable" with front-loading too many cuts. He sought assurance that inflation is back on the path to the Fed's 2% target. Goolsbee will next vote on the FOMC in 2027.

The other dissenter, who also did not vote for a cut, was Kansas City Fed President Jeffrey Schmid, as he still sees inflation elevated and sees signs the economy is unrestrained by the current level of rates. Schmid will next vote on the FOMC in 2028.

Gold futures rose 0.5% to $4,336.11, while silver futures slumped 3.6% to $62.24 in midday trading.

Further in company news, Lululemon Athletica's (LULU) shares soared 10%, the top gainer on the S&P 500 and the Nasdaq, after the company reported fiscal Q3 earnings and revenue that topped analysts' expectations, and raised its fiscal 2025 outlook.

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37.

Exchange-Traded Funds Decline as US Equities Fall After Midday

2025-12-12 18:09:52 by MT Newswires from MT Newswires

Broad Market Indicators

Broad-market exchange-traded funds IWM and IVV pointed lower. Actively traded Invesco QQQ Trust (QQQ) shed 1.6%.

US equity indexes fell in midday trading on Friday as Broadcom's (AVGO) gross margin guidance failed to impress investors, triggering a sharp sell-off in technology shares.

Energy

iShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each slipped 0.7%.

Technology

The State Street Technology Select Sector SPDR ETF (XLK) fell 2.3%; iShares US Technology ETF (IYW) was down 1.9%, while iShares Expanded Tech Sector ETF (IGM) dipped 2.5%.

The State Street SPDR S&P Semiconductor (XSD) was 3.4% lower, and iShares Semiconductor (SOXX) declined 3.6%.

Financial

The State Street Financial Select Sector SPDR (XLF) gained 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) rose 0.2%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), fell 0.2%.

Commodities

Crude oil was 0.1% higher, and the United States Oil Fund (USO) dropped 0.3%. Natural gas fell 2.6%, and the United States Natural Gas Fund (UNG) declined 2.7%.

Gold on Comex rose 0.7%, and the State Street SPDR Gold Shares (GLD) added 0.5%. Silver slipped 4.1%, and iShares Silver Trust (SLV) was down 2.7%.

Consumer

The State Street Consumer Staples Select Sector SPDR (XLP) added 0.3%. The Vanguard Consumer Staples ETF (VDC) and iShares Dow Jones US Consumer Goods (IYK) were also moving higher.

The State Street Consumer Discretionary Select Sector SPDR (XLY) added 0.2%. VanEck Retail ETF (RTH) lost 0.2%, and the State Street SPDR S&P Retail (XRT) fell 0.1%.

Health Care

The State Street Health Care Select Sector SPDR (XLV) was up 0.1%, and iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) also edged higher; iShares Biotechnology ETF (IBB) dipped 0.5%.

Industrial

The State Street Industrial Select Sector SPDR (XLI) was 0.3% lower. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) also declined.

Cryptocurrency

In midday activity, bitcoin (BTC-USD) was down 1.7%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) shed 1.8%, ProShares Ether ETF (EETH) dropped 4.9%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) lost 2.2%.

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38.

US Equity Indexes Trade Drop as Broadcom's Gross Margins Guidance Sparks Sell-Off in Technology

2025-12-12 17:38:17 by MT Newswires from MT Newswires

US equity indexes fell in midday trading on Friday as Broadcom's (AVGO) gross margin guidance failed to impress investors, triggering a sharp sell-off in technology shares.

The Nasdaq Composite slumped 1.4% to 23,256.9, with the S&P 500 down 0.9% to 6,837.8 and the Dow Jones Industrial Average 0.3% lower at 48,549.1. Communication services and consumer discretionary were among the steepest decliners, while consumer staples and healthcare were the sole gainers.

In company news, Broadcom (AVGO) shares sank 10%, the worst performer on the S&P 500 and the Nasdaq, after the chipmaker said fiscal Q1 consolidated gross margins will decline sequentially amid a bigger mix of artificial intelligence-related revenue.

Broadcom is likely to experience gross margin pressure amid an increase in new AI orders in the current fiscal year, Truist Securities said in a note, adding that the chipmaker's earnings growth should be "more important" for investors.

Reflecting the bearish tilt, the $403 billion Invesco QQQ Trust (QQQ), a tech-heavy exchange-traded fund offering exposure to Magnificent-7 across technology and communication services sectors, dropped 2.2%.

The Global X Artificial Intelligence & Technology ETF (AIQ), with net assets of $6.97 billion and investments in firms related to AI, slumped 2.9%.

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39.

QQQ vs ONEQ: Is There Any Real Difference Between These ETFs?

2025-12-12 16:21:49 by Joey Frenette from 24/7 Wall St.

For investors looking for a passive way to bet on big tech and the ongoing artificial intelligence (AI) boom, there are ample different exchange-traded fund (ETF) products that can get the job done. Undoubtedly, there are notable differences between tech-centric ETFs. Most notably, some may be pure tech ETFs, while others may only be tech-heavy with exposure to various other sectors of the economy. In any case, investors keen on betting big on tech through an ETF should aim to keep their fees low.

In this piece, we'll look at two of the more popular ways to bet on tech by way of the Nasdaq. Let's check in on the two so growth investors can get a better sense of the differences and similarities. As you might imagine, there's a lot of overlap between the Invesco QQQ Trust (NASDAQ:QQQ) and the Fidelity Nasdaq Composite Index ETF (NASDAQ:ONEQ), which follow the Nasdaq 100 and Nasdaq Composite, respectively. And while investors can fare similarly with either ETF, I do think that one could come out as a clear winner for a certain type of investor. Let's get a closer look at the two Nasdaq ETFs:

Invesco QQQ Trust (QQQ)

The Invesco QQQ Trust, commonly referred to as the "QQQ" or "the Q's," is probably one of my favorite ways to bet on tech. The index follows the Nasdaq 100, which is the 100 largest non-financial firms on the Nasdaq exchange. So, if you seek more exposure to mega-cap tech and the Magnificent Seven but are also fine with some of the non-tech names—think Costco (NASDAQ:COST)—within the list of 100 stocks, the QQQ offers a low-cost way (0.2% total expense ratio) to give your portfolio a bit of a growth jolt.

Undoubtedly, the Nasdaq 100 has outperformed the S&P 500 in recent years by a significant margin. Over the past 10 years, the tech-heavy index is up more than 370%, smashing the return of the S&P 500, which gained 238% in the last decade.

Indeed, the Nasdaq 100 tends to amplify moves made in the S&P 500 in both directions. The most notable bout of underperformance came amid the dot-com bust of 2000-02, which saw the Nasdaq 100 sink far lower than the S&P 500 while taking much longer to recover. If there is an "AI bubble" or a tech-centric correction on the horizon, the QQQ could be at risk of plunging harder than the S&P 500.

Additionally, the QQQ's exposure to the Magnificent Seven has been a strong point in recent years. However, given its supersized concentration in the names, if the market rally broadens out and the Mag Seven lags from here, the QQQ may be a less-than-ideal pick.

Fidelity Nasdaq Composite Index ETF (ONEQ)

If you're a bigger fan of broader exposure to the Nasdaq (think smaller-cap names), a Nasdaq Composite Index ETF like the ONEQ may be a better fit for your portfolio.

With over 1,000 holdings (compared to 100 for the QQQ), the ONEQ is a more diversified way to play the index, with a small exposure (3.9%) to financials and other corners of tech. Despite the breadth of names, though, the ONEQ is still a top-heavy ETF, with the top 10 holdings (hello, Mag Seven!) comprising around 60% of the ETF. So, there's no avoiding a heavier weighting to the group with the ONEQ.

With a similar expense ratio and many of the same large-cap names (there's substantial overlap) at its core, it's a toss-up as to which ETF is the better pick for investors. Over the past 10 years, the ONEQ has underperformed the QQQ, with 370% returns vs. 453%.

Over the past year, though, the ONEQ has been steady with QQQ, both up 15.6%.

Of course, there are better ways to bet on a broad market rally than with a tech-heavy ETF. Either way, if I had to choose one, I'd go with ONEQ. Why? The mid-cap holdings may start doing more of the heavy lifting. Further, the financial sector stands out as a top non-tech beneficiary of the rise of AI.

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40.

Pre-markets Mixed Ahead of Consequential Week of Data

2025-12-12 15:35:00 by Mark Vickery from Zacks

Friday, December 12, 2025

Pre-market futures are averaging out to be flat at this hour, although we’re seeing a wider band of trading. The blue-chip Dow and the small-cap Russell 2000 — up +110 points and +2 points, respectively — are being slightly offset by -103 points on the tech-heavy Nasdaq and -2 on the comprehensive S&P 500 currently.

Doubts continue about the levels of AI infrastructure spending, and whether they are sustainable into the new year. On Broadband’s AVGO conference call yesterday afternoon following an otherwise robust earnings report, CEO Hock Tan saw some negative sentiment hit his company’s stock when he cited a lower-than-expected level of AI product orders next year. Tan later clarified he saw the $73 billion backlog as a minimum end of the range, but shares remain down -5% in today’s pre-market.
 

Next Week, Reports of Consequence: BLS, CPI

By Tuesday of next week, we’ll have a fresh catalyst for market sentiment. That’s when we’ll see the long-awaited Employment Situation report from the U.S. Bureau of Labor Statistics (BLS) for November. I say “long awaited” because we are skipping right over October’s numbers due to the month-and-a-half government shutdown. Last time around, we saw +119K new jobs created in September, with an Unemployment Rate of +4.4%.

That +119K is not a bad number, especially in our current labor market environment. It likely more than makes up for retirees per month in the domestic labor force, so essentially it’s a growth number — which is good. The trouble is, this is by far the biggest monthly jobs gain of the last four months reported. Averaged out, they only come to +44K new jobs per month — less than what our economy needs to account for Baby Boomers (and older Gen-X) retiring.

Compare this with the four previous months’ average of +100K, and +185K the four months prior to that. So we can see some clear erosion in the labor market over the past year, up until September. Since then, with corporate layoffs taking headlines and immigration crackdowns affecting domestic labor, we don’t see much opportunity for upside in the upcoming BLS report. Unemployment, at 4.4%, is the highest we’ve seen in four years, but not yet anything historically problematic.

Thursday of next week brings us the long-awaited Consumer Price Index (CPI) report, including a fresh Inflation Rate (CPI year over year, headline) for November. This print also suffered the wrath of the government shutdown and is skipping October data, and where we last left off we saw a +3.0% Inflation Rate for the first time since January. 

The trend in the charts going back 2 1/2 years or so — when we finally saw inflation rates come down from multi-decade highs — demonstrate lower highs and lower lows each wave through the cycle. We were at +3.7% in September 2023, +3.5% in March of ’24, and +3.0% in January ’25 for recent highs. But CPI year over year is among the most conspicuously absent of economic prints this year, and that we reached +3.0% in September again in this latest high (so far) may portend a new narrative.

That’s why next week’s data is so important: we appear to be at a new economic impasse, and that no one knows which way things may break is what will likely give the Fed pause going into the new year. Because somewhat lost in the positive outlook for GDP growth and inflation rates through 2026 overall, it’s clear Fed Chair Jerome Powell and his assenters of the FOMC are planning to tiptoe into the next Fed meeting.

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This article originally published on Zacks Investment Research (zacks.com).

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41.

Market Minute 12-12-25- Stocks Hit New Highs...with a Twist

2025-12-12 14:15:00 by MoneyShow

After hitting fresh records yesterday, equities are mixed this morning. Gold is ramping after a multi-day surge in silver, while crude oil is flattish. The dollar is up a bit along with longer-term Treasury yields.

To get more articles and chart analysis from MoneyShow, subscribe to our Top Pros’ Top Picks newsletter here.)

Yesterday, the Dow Jones Industrial Average, S&P 500 Index (^SPX), AND the Russell 2000 Index all hit new highs. But the Dow outperformed the S&P by the widest margin in more than nine months...while the Nasdaq Composite actually dipped on the day. More investors are diversifying out of mega-cap US tech stocks amid easier monetary policy and questions about the sustainability of the Artificial Intelligence (AI) boom.

SPX, AVGO, DIS (YTD % Change)

Data by YCharts

Speaking of which, Broadcom Inc. (AVGO) stock is down despite beating sales and earnings forecasts in the fiscal fourth quarter. Investors seemed moderately disappointed in remarks from CEO Hock Tan about order volume for its AI chips. Then again, the stock WAS up 75% year-to-date heading into the report, not to mention trading at more than 40X earnings. So, it’s not shocking to see some profit-taking.

Content providers have been battling it out with AI companies for the last few years, threatening them over products like Sora from OpenAI and Gemini from Alphabet Inc. (GOOGL). Those tools allow users to produce AI-generated videos featuring intellectual property like movie characters from firms such as Walt Disney Co. (DIS).

See also: CBTJ: A "Protected" Bitcoin ETF that Helps Limit Downside Risk

But this week, Disney said it would buy an equity stake in OpenAI for $1 billion – and allow the company to license 200-plus Disney characters for use in Sora-generated videos. That won’t solve the fight over whether AI models can freely “scrape” content without compensation. But it could presage other deals from entertainment firms, actors’ unions, and other interested parties.

More From MoneyShow.com:

• Fed: What Stood Out to Me About Yesterday's Policy Meeting
• SPX: Why 2026 Could be Much BETTER Than Investors Think
• MoneyMasters Podcast 12/11/25: Hard Assets vs. Financial – McDonald on What Leads in ‘26

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42.

Exchange-Traded Funds Lower, Equity Futures Mixed Pre-Bell Friday as Broadcom Results Deepen Fears

2025-12-12 13:55:34 by MT Newswires from MT Newswires

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.1% and the actively traded Invesco QQQ Trust (QQQ) was 0.5% lower in Friday's premarket activity as Broadcom's (AVGO) quarterly results deepened fears of tech overvaluation.

US stock futures were mixed, with S&P 500 Index futures down 0.1%, Dow Jones Industrial Average futures gaining 0.2%, and Nasdaq futures retreating 0.5% before the start of regular trading.

Chicago Fed President Austan Goolsbee is slated to speak at 10:35 am ET.

The weekly Baker Hughes oil-and-gas rig count posts at 1 pm ET.

In premarket activity, bitcoin was up by 0.7%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.8% higher, Ether ETF (EETH) advanced 0.3%, and Bitcoin & Ether Market Cap Weight ETF (BETH) retreated 0.4%.

Power Play:

Industrial

The State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.3% while the Vanguard Industrials Index Fund (VIS) was up 0.5% and the iShares US Industrials ETF (IYJ) was inactive.

Quanex Building Products (NX) stock was up more than 25% before the opening bell after the company posted a fiscal Q4 adjusted EPS gain and positive free cash flow.

Winners and Losers:

Consumer

The State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.3%, while the Vanguard Consumer Staples Index Fund ETF Shares (VDC) gained 0.1%. The iShares US Consumer Staples ETF (IYK) advanced 0.8%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) increased by 0.2%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 0.7% higher.

Lululemon Athletica (LULU) shares were up more than 9% pre-bell after the company posted higher-than-expected fiscal Q3 earnings and revenue.

Technology

The State Street Technology Select Sector SPDR ETF (XLK) retreated 0.6%, and the iShares US Technology ETF (IYW) was 0.6% lower, while the iShares Expanded Tech Sector ETF (IGM) was down 0.3%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) retreated 1.1%, while the iShares Semiconductor ETF (SOXX) fell by 1.2%.

Broadcom (AVGO) shares were down more than 6% in recent premarket activity amid gross profit margin concerns. Gross profit margin on new orders for AI server racks, specialized computer hardware that runs AI applications, is "significantly below average," Truist analysts said in a Thursday note.

Energy

The iShares US Energy ETF (IYE) was inactive, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.3%.

T1 Energy (TE) stock was down more than 5% before Friday's opening bell after the company said late Thursday it has priced its public offerings comprising $140 million in 5.25% convertible senior notes due 2030 and 28.3 million shares at $4.95 per share.

Health Care

The State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.5%. The Vanguard Health Care Index Fund (VHT) was down 0.03%, while the iShares US Healthcare ETF (IYH) was flat. The iShares Biotechnology ETF (IBB) was up 0.4%.

BioCryst Pharmaceuticals (BCRX) stock was up more than 4% premarket after the company said the US Food and Drug Administration approved Orladeyo oral pellets to help prevent hereditary angioedema attacks in children ages 2 to under 12.

Financial

The State Street Financial Select Sector SPDR ETF (XLF) advanced 0.4%. Direxion Daily Financial Bull 3X Shares (FAS) was up 1.2%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.9% lower.

Citigroup (C) shares were up more than 1% pre-bell after RBC lifted its price target on the company to $121 from $112, while maintaining its outperform rating.

Commodities

Front-month US West Texas Intermediate crude oil was down 0.1% at $57.56 per barrel on the New York Mercantile Exchange. Natural gas was down 0.3% at $4.22 per 1 million British Thermal Units. The United States Oil Fund (USO) retreated by 0.4%, while the United States Natural Gas Fund (UNG) fell by 1.3%.

Gold futures for February were up by 1.4% at $4,372.20 an ounce on the Comex, and silver futures retreated by 0.6% to $64.78 an ounce. SPDR Gold Shares (GLD) rose by 1.5%, and the iShares Silver Trust (SLV) was 1.3% higher.

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43.

Seven Themes Investors Should Focus on in 2026

2025-12-12 05:01:00 by MoneyShow

It's worth reflecting back on the remarkable period we've just experienced. For the sixth time in seven years, the stock market has delivered double-digit returns, even though it hasn’t always felt smooth. Now, here are seven key themes likely to shape markets in 2026, observes John Gardner, founder and principal of Blackhawk Wealth Advisors’ Market Insights.

To get more articles and chart analysis from MoneyShow, subscribe to our Top Pros’ Top Picks newsletter here.)

1. Diversification is working again: For much of the past decade, US stocks outperformed nearly everything else. That changed in 2025 as international stocks and bonds both contributed meaningfully to portfolio returns. Periods like the February-through-April stock market volatility remind us that a balanced approach can help smooth the journey toward your goals.

2. Stock valuations are elevated: Strong market returns have pushed stock prices higher relative to company earnings. The S&P 500 Index (^SPX) now trades at levels approaching those seen during the Dot-Com era, and we should be prepared for volatility as markets adjust to higher valuations.

SPDR S&P 500 ETF (SPY)

3. Artificial Intelligence continues to drive growth: AI has captured enormous attention and investment. Companies are spending trillions of dollars building the infrastructure needed to support this technology. Since most portfolios have significant exposure to AI-related companies through major stock indices, maintaining appropriate balance remains essential.

4. Economic growth remains positive but uneven: The economy continues to grow at a healthy pace, though not everyone is experiencing this equally. Some sectors and income groups are thriving, while others face challenges. This is sometimes referred to as a “two-speed” or “K-shaped” economy.

5. Tariff concerns may continue: Despite significant attention in 2025, tariffs have not caused the economic disruption many feared. Inflation has remained relatively stable, and growth has continued. This doesn't mean tariffs are unimportant, but it suggests that their effects may be more nuanced than headlines suggest.

6. Political developments will create headlines: The upcoming midterm election, ongoing discussions about government debt, and the new One Big Beautiful Bill Act (OBBBA) tax legislation will all generate news throughout the year. While these topics matter for policy and planning, history shows that markets have performed well across different political environments.

See also: CBTJ: A "Protected" Bitcoin ETF that Helps Limit Downside Risk

7. The Federal Reserve will continue supporting the economy: With new leadership coming to the Fed in mid-2026, monetary policy will likely evolve. But sticking to long-term financial goals, not over-reacting to monetary policy changes, is key.

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• Fed: What Stood Out to Me About Yesterday's Policy Meeting
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• MoneyMasters Podcast 12/11/25: Hard Assets vs. Financial – McDonald on What Leads in ‘26

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44.

AI Spending- No, This is NOT the Dot-Com Bubble All Over Again

2025-12-12 05:01:00 by MoneyShow

Does Artificial Intelligence Capex present a threat to the AI story? The market has cited three main concerns regarding it: the sheer size, the use of leverage, and the so-called circular financing. But this is not the 1990s from a Capex standpoint, writes Nancy Tengler, CIO of Laffer Tengler Investments.

To get more articles and chart analysis from MoneyShow, subscribe to our Top Pros’ Top Picks newsletter here.)

It is true tech spend is at a historical high. But it mostly reflects the structural rise in tech’s share of total investment. An economy in transition as my partner, Arthur Laffer, Jr. calls it.

The chart below shows that the current cycle spend is only slightly above trend. Compare that to the 1990s. Spend was way above trend then; it is not now.

(Editor’s Note: Nancy will be speaking at the 2026 MoneyShow/TradersEXPO Las Vegas, scheduled for Feb. 23-25. Click HERE to register.)

See also: CBTJ: A "Protected" Bitcoin ETF that Helps Limit Downside Risk

When you back out  Oracle Corp. ( ORCL), the hyperscalers are funding Capex from cash flow. ORCL has always used a great deal of debt. One year ago, the company sported a 780% debt-to-equity ratio with earnings growing at half the rate currently. At the end of Q3, the debt-to-equity ratio was down to 500% (but likely rising).

Interestingly, while technology accounts for over 40% of the equity index, it only accounts for about 6% of the debt market. Debt levels are rising but not in the danger zone.

More From MoneyShow.com:

• Fed: What Stood Out to Me About Yesterday's Policy Meeting
• SPX: Why 2026 Could be Much BETTER Than Investors Think
• MoneyMasters Podcast 12/11/25: Hard Assets vs. Financial – McDonald on What Leads in ‘26

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45.

1 Tech ETF to Buy Hand Over Fist and 1 to Avoid in 2026

2025-12-11 21:35:00 by Stefon Walters, The Motley Fool from Motley Fool

For most investors interested in growth opportunities, their mind goes to tech stocks. Given how the tech sector has performed over the last decade or so, it's easy to see why this is the case. Overall, it has outperformed all of the other major sectors of the U.S. economy.

Hitting it big on an individual tech stock can get you life-changing money, but it doesn't take that to make good money from the tech sector. Many tech-focused exchange-traded funds (ETFs) can also be lucrative choices, with much less risk.

As we head into 2026, there's one ETF that seems like a good choice, while there's one in particular I would avoid right now.

The tech ETF to embrace going into 2026

The Invesco Nasdaq 100 ETF (NASDAQ: QQQM) is a relatively new ETF (launched in 2020) that tracks the Nasdaq-100 index. The Nasdaq-100 contains the 100 largest non-financial stocks on the Nasdaq stock exchange and is essentially a subset of the much broader Nasdaq Composite.

QQQM is essentially the same as its predecessor, the Invesco QQQ Trust ETF (NASDAQ: QQQ), but a key difference is that QQQM's expense ratio is 0.15% compared to QQQ's 0.20%. The differences seem slight on paper, but if you're a long-term investor, it could easily add up to hundreds or thousands in differences in fees paid, depending on your investment amounts and returns.

Since the Nasdaq-100 contains companies from other sectors, QQQM isn't a pure-play tech ETF. However, the tech sector is by far the most represented, accounting for 65% of the ETF. The top five sectors are rounded out with consumer discretionary (17.6%), healthcare (4.9%), telecommunications (3.5%), and industrials (3.2%).

When you invest in QQQM, you know you're getting exposure to some of the top tech companies in the world (though it only contains U.S. companies), spanning many different industries. You get exposure to key AI hardware players in Nvidia and Broadcom; cloud computing giants in Amazon, Microsoft, and Alphabet; a consumer hardware king in Apple; and emerging software companies like Palantir Technologies, Shopify, CrowdStrike, and plenty of others.

In many cases, these companies have their hands in many different tech industries, so you know you're covering a lot of ground with a single investment. You get tech giants to lead the way, while hedging with other sectors in case the tech sector experiences a hiccup along the way (which isn't far-fetched).

The tech ETF I'm avoiding right now

The Vanguard Information Technology (NYSEMKT: VGT) has produced some great returns over the past decade. In fact, it has outperformed the Nasdaq-100 during that time. I'll be the first to admit it's a good ETF that holds some top-tier companies.

Unfortunately, the problem with VGT is its concentration in three stocks: Nvidia, Apple, and Microsoft. Together, they account for over 45% of VGT, comprising 18.2%, 14.3%, and 12.9%, respectively.

To be fair, the high concentration is why it has produced strong returns in recent years; however, expecting those returns to continue is essentially betting on those three companies maintaining their winning streak. Of course, they can, but if I'm investing in a tech ETF, I would want my investment to be spread across a broader part of the tech spectrum. Which brings us to the next reason I'm avoiding VGT heading into 2026.

VGT only holds companies in the information technology (tech) sector, which means it excludes some key tech companies that are categorized differently because of how the stock market officially defines them. Most notably, VGT doesn't include Amazon (consumer discretionary sector), Alphabet (communication services sector), or Meta Platforms (communication services sector).

Going into the new year, those are undoubtedly companies I'd want in an ETF I invest in to gain exposure to the tech world. They may technically belong in those other sectors, but it's hard to suggest that they are not tech companies.

Stefon Walters has positions in Apple, CrowdStrike, and Microsoft. The Motley Fool has positions in and recommends Alphabet, Amazon, Apple, CrowdStrike, Meta Platforms, Microsoft, Nvidia, Palantir Technologies, and Shopify. The Motley Fool recommends Broadcom and recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.

1 Tech ETF to Buy Hand Over Fist and 1 to Avoid in 2026 was originally published by The Motley Fool

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46.

Too Many People Just Buy SPY, These Are The ETFs I’d Own Instead

2025-12-11 18:56:04 by Vandita Jadeja from 24/7 Wall St.

The exchange-traded fund industry is booming right now. Investors are flocking towards ETFs, and they’ve become one of the most important parts of individual portfolios. With over 4,000 U.S.-listed ETFs, it can become overwhelming to choose one. There’s explosive growth in the market, and ETFs look like a promising investment. The first U.S.-listed ETF, the SPDR S&P 500 ETF (NYSEARCA:SPY), was launched in 1996 and continues to dominate the market. It kicked off the ETF era and has remained one of the biggest players. 

SPY has $708.62 billion in assets under management and invests in 500 stocks. Many investors swear by SPY and hold it for the long term. However, I believe the market is changing, and there are other alternatives worth considering. ETF issuers are catering to the Gen Z investors who are looking for yield-focused funds with low risk. I’d recommend investing in Invesco QQQ Trust (NASDAQ:QQQ), iShares Core S&P 500 ETF (NYSE:IVV), and International Dividend Appreciation ETF (NASDAQ: VIGI) instead of SPY. Here’s why. 

Invesco QQQ Trust

The Invesco QQQ Trust could be a smart investing decision today. This ETF tracks the Nasdaq-100 Index and holds 100 stocks. It was launched in 1999 and has an expense ratio of 0.20%. The fund has generated a cumulative 10-year return of 486%.

QQQ is heavily tech-focused and invests 64% of the portfolio in the sector. This is followed by 18% in consumer discretionary and 4.21% in healthcare. Its top 10 holdings form 53% of the fund and include the Magnificent Seven, such as Nvidia, Apple, Microsoft, Amazon, Alphabet, Tesla, and Meta Platforms. 

QQQ holds the who’s who of the tech world, and these leading businesses have driven the market higher. These are gigantic business owners who are building new infrastructure for the economy, and QQQ gives access to the best of the business. 

In 2025, the ETF has gained 22.35% and is exchanging hands for $624. I believe the fund will provide above-average returns and exposure to the best tech stocks in the industry. 

iShares Core S&P 500 ETF

The iShares Core S&P 500 ETF tracks the S&P 500 index and invests in the 500 largest U.S. stocks based on the market capitalization. It has a yield of 1.04% and an expense ratio of 0.03%. 

IVV is also a tech-heavy fund with 34.85% allocation to the sector, followed by 13.06% in the financial sector and 10.73% in the communication industry. Its top 10 holdings are similar to QQQ, with the Magnificent Seven at the top. These include Nvidia, Apple, Microsoft, Amazon, Alphabet, Meta Platforms, and Tesla. 

IVV has generated a total return of 94.85% in 3 years and 113.98% in five years. The fund is very similar to SPY and offers roughly the same yield. However, it has a lower expense ratio as compared to SPY. 

The fund avoids currency hedges and leverages, ensuring there are no surprises for investors. Since it tracks the S&P 500, it holds the largest U.S. stocks and can offer stability in the long run. IVV has gained 16.96% in 2025 and is exchanging hands for $687.

Vanguard International Dividend Appreciation Index Fund 

The Vanguard International Dividend Appreciation Index Fund ETF aims to track the performance of the S&P Global Ex-U.S. Dividend Growers Index. It is a passively managed fund and invests in large-cap stocks from the developed and emerging markets with a history of growing dividends each year. VIGI has a yield of 1.85%. 

The fund sets itself apart by investing in the top dividend stocks across the world, offering ultimate diversification. VIGI has an expense ratio of 0.10% and holds 334 stocks. The ETF has paid a quarterly dividend of $0.36. 

It invests 41.90% in Europe, 33.50% in the Pacific and 17% in North America. Country-wise, it invests 29.30% in Japan, 17% in Canada, and 15.90% in Switzerland. Its top 10 stocks include Royal Bank of Canada, Nestle SA, Hitachi Ltd., Roche Holding AG, and Reliance Industries Ltd. The top 10 holdings make up 34.88% of the fund. 

It has generated a 3-year cumulative return of 35.30% and a 5-year return of 36.25%. VIGI has gained 13.38% in 2025 and is exchanging hands for $90.57. The fund gives access to the top blue chip international stocks at low risk. 

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47.

Exchange-Traded Funds Rise, US Equities Mixed After Midday

2025-12-11 18:08:48 by MT Newswires from MT Newswires

Broad Market Indicators

Broad-market exchange-traded funds IWM and IVV edged higher. Actively traded Invesco QQQ Trust (QQQ) shed 0.6%.

US equity indexes traded mixed midday Thursday as Oracle's (ORCL) fiscal Q2 results hurt big tech, which pushed technology and communication services to the bottom of sector charts.

Energy

iShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each shed 0.3%.

Technology

The State Street Technology Select Sector SPDR ETF (XLK) fell 1.1%; iShares US Technology ETF (IYW) was down 1.1%, while iShares Expanded Tech Sector ETF (IGM) slipped 1.1%.

The State Street SPDR S&P Semiconductor (XSD) was 1.1% lower, and iShares Semiconductor (SOXX) declined 1.8%.

Financial

The State Street Financial Select Sector SPDR (XLF) gained 1.7%. Direxion Daily Financial Bull 3X Shares (FAS) climbed 5.2%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), fell 5.2%.

Commodities

Crude oil was 2% lower, and the United States Oil Fund (USO) dropped 2.7%. Natural gas fell 8%, and the United States Natural Gas Fund (UNG) declined 8.4%.

Gold on Comex rose 2%, and the State Street SPDR Gold Shares (GLD) added 1.2%. Silver gained 5.6%, and iShares Silver Trust (SLV) was up 3.6%.

Consumer

The State Street Consumer Staples Select Sector SPDR (XLP) added 0.9%. The Vanguard Consumer Staples ETF (VDC) and iShares Dow Jones US Consumer Goods (IYK) were also moving higher.

The State Street Consumer Discretionary Select Sector SPDR (XLY) added 0.5%. VanEck Retail ETF (RTH) gained 0.7%, and the State Street SPDR S&P Retail (XRT) rose 0.7%.

Health Care

The State Street Health Care Select Sector SPDR (XLV) was up 1%, and iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) advanced; iShares Biotechnology ETF (IBB) rose 0.8%.

Industrial

The State Street Industrial Select Sector SPDR (XLI) was 0.9% higher. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) also rose.

Cryptocurrency

In midday activity, bitcoin (BTC-USD) was down 2.4%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) shed 2.5%, ProShares Ether ETF (EETH) slipped 5.1%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) dropped 3.5%.

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48.

MoneyMasters Podcast 12-11-25- Hard Assets vs. Financial - McDonald on What Leads in 26

2025-12-11 16:30:00 by MoneyShow

Recorded LIVE at the 2025 MoneyShow Masters Symposium in Sarasota, this episode features Larry McDonald, bestselling author and founder of The Bear Traps Report. We sat down for a high-impact breakdown of the macro forces that could define 2026 – and what investors should DO in response! Watch now.

To get more articles and chart analysis from MoneyShow, subscribe to our Top Pros’ Top Picks newsletter here.)

Larry explains why falling rates, aggressive fiscal spending, and the energy demands of the AI boom are setting the stage for a major rotation into hard assets. He also pulls back the curtain on the risks building inside the $1.8 trillion private credit market and how financial repression is steering banks deeper into Treasuries.

It’s fast, punchy, and packed with insight for anyone positioning their portfolio for the year ahead.

See also: DATCos: Why You Should Stay Away from These Stocks

One last thing: Your next chance to get expert, IN PERSON portfolio guidance is at the 2026 MoneyShow/TradersEXPO Las Vegas, scheduled for Feb. 23-25 at the Paris Las Vegas. Click here to register: https://www.lasvegasmoneyshow.com/?scode=059253.

More From MoneyShow.com:

• SPX: Why 2026 Could Feature "Economic Nirvana" and a Strong Market
• CBTJ: A "Protected" Bitcoin ETF that Helps Limit Downside Risk
• Market Minute 12/10/25: Fed, SpaceX IPO in Focus

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49.

The Smartest Index ETF to Buy With $2,000 Right Now

2025-12-11 14:05:00 by Geoffrey Seiler, The Motley Fool from Motley Fool

As 2025 comes to a close, growth stocks are poised to outperform the market yet again. This dynamic has become commonplace over the past decade and a half, with growth stocks set to beat value stocks in 12 of the past 15 years.

With the market being led by megacap tech stocks tied to artificial intelligence (AI), there is a good chance this outperformance will continue for the foreseeable future. AI is still in its early innings, and it's just beginning to change the world in which we live. Meanwhile, the companies leading the charge are some of the biggest companies in the world.

Unlike the dot-com bust, which was led by unprofitable companies with often times questionable business models -- we're looking at you, Pets.com -- the AI boom is being led by profitable companies with strong balance sheets that are generating an enormous amount of operating cash flow from their core businesses. This bodes well for both the companies involved and their investors.

As such, I think one of the best ways to play the AI boom is through an investment in the Invesco QQQ Trust (NASDAQ: QQQ), which is an exchange-traded fund (ETF) that tracks the Nasdaq-100. Investors can start with a smaller amount, say $2,000, but the key is to consistently invest in the fund in both up and down markets using a dollar-cost averaging strategy.

If you can start with $2,000 and add $1,000 each month, you would have over $268,000 after 10 years, with a 15% average annual return. The earlier you start, the better, though, as with the same rate of return, if you held for 30 years you would have nearly $5.7 million, with 94% of that coming from gains.

Why the Invesco QQQ Trust is a great investment

The Invesco QQQ Trust will give you a portfolio of the top names in tech. The Nasdaq Exchange has always been where both leading and emerging tech companies have tended to list, and the Nasdaq-100 index is certainly overweight in tech stocks. Its top 10 holdings are a who's who of tech, with most of the companies being AI leaders.

Nearly 65% of the stocks in the ETF are classified as technology, and this doesn't include names like cloud computing leader Amazon and Tesla, which tend to get lumped in the consumer discretionary category. Overall, its top 10 holdings make up 55% of its portfolio.

Here is a list of its top 10 holdings and weighting, as of the end of November:

Holding	Weighting	Holding	Weighting
Nvidia	9.3%	Amazon	5.1%
Apple	8.7%	Tesla	3.5%
Alphabet	7.6%	Meta Platforms	3.1%
Microsoft	7.5%	Netflix	2.2%
Broadcom	6.4%	Palantir	2.1%

Data source: 

While actively managed funds have struggled to outperform the S&P 500 over the years, the Invesco QQQ Trust has not run into that problem. As of the end of November, the ETF has had an average annual return of 19.3% versus 14.6% for the S&P 500. While that may not sound like a lot, on a cumulative basis, it is a 486.3% return versus 291.8% for the S&P 500. If you had invested $2,000 and just let it sit there, that's the difference between $11,726 and $7,836 at the end of 10 years.

One of the best things about the Invesco QQQ Trust is that not only has it outperformed the S&P 500 over the past decade, but it has done so consistently. On a 12-month rolling basis, it has topped the broader market benchmark index nearly 88% of the time. That means its gains aren't coming from just one or two big years during this stretch.

While past returns are no guarantee of future performance, the tech-heavy makeup of the Invesco QQQ trust makes it an ideal way to play the ongoing AI revolution. That's why it's one of the smartest ETFs to buy right now.

Geoffrey Seiler has positions in Alphabet, Amazon, and Invesco QQQ Trust. The Motley Fool has positions in and recommends Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Netflix, Nvidia, Palantir Technologies, and Tesla. The Motley Fool recommends Broadcom and recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.

The Smartest Index ETF to Buy With $2,000 Right Now was originally published by The Motley Fool

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50.

Exchange-Traded Funds Lower, Equity Futures Mixed Pre-Bell Thursday as Oracle Results Sour Investor Mood

2025-12-11 13:54:03 by MT Newswires from MT Newswires

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.4% and the actively traded Invesco QQQ Trust (QQQ) was 0.4% lower in Thursday's premarket activity, as Oracle's (ORCL) fiscal Q2 results soured the elation of an interest rate cut.

US stock futures were mixed, with S&P 500 Index futures down 0.3%, Dow Jones Industrial Average futures advancing 0.1%, and Nasdaq futures retreating 0.5% before the start of regular trading.

US initial jobless claims rose to 236,000, above expectations for 220,000 and up from 192,000 previously.

The US trade deficit narrowed to $52.83 billion in September, below expectations for $63.1 billion and down from a revised $59.27 billion previously.

In premarket activity, bitcoin was down by 2.3%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 2.3% lower, Ether ETF (EETH) declined 4.4%, and Bitcoin & Ether Market Cap Weight ETF (BETH) retreated 2.1%.

Power Play:

Financial

The State Street Financial Select Sector SPDR ETF (XLF) advanced 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.5%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.3% lower.

Gemini Space Station (GEMI) shares were up more than 15% pre-bell after the company said overnight it has received regulatory approval to offer event contracts in prediction markets to its US customers.

Winners and Losers:

Technology

The State Street Technology Select Sector SPDR ETF (XLK) retreated 0.8%, and the iShares US Technology ETF (IYW) was 0.3% lower, while the iShares Expanded Tech Sector ETF (IGM) fell 1.9%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was down 0.5%, while the iShares Semiconductor ETF (SOXX) declined by 0.9%.

Oracle (ORCL) shares were down more than 12% in recent premarket activity after the company reported overnight fiscal Q2 sales below market expectations, taking the shine off its earnings beat.

Health Care

The State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.3%. The Vanguard Health Care Index Fund (VHT) advanced 0.2%, while the iShares US Healthcare ETF (IYH) was flat. The iShares Biotechnology ETF (IBB) was down 0.6%.

Immunovant (IMVT) stock was down more than 4% premarket after the company said it has priced an underwritten offering of 26.2 million common shares at $21 apiece for expected gross proceeds of about $550 million.

Industrial

The State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.1%, the Vanguard Industrials Index Fund (VIS) was up 0.2%, while the iShares US Industrials ETF (IYJ) was inactive.

Brink's (BCO) stock was up more than 2% before the opening bell after the company said its board approved a new $750 million share buyback plan.

Consumer

The State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.2%, while the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was up 0.5%. The iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.2%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) gained 0.1%.

American Eagle Outfitters (AEO) shares were down nearly 2% pre-bell after Goldman Sachs began coverage of the company's stock at neutral with a $25 price target.

Energy

The iShares US Energy ETF (IYE) was inactive, while the State Street Energy Select Sector SPDR ETF (XLE) was down by 0.4%.

Equinor (EQNR) stock was down more than 1% before Thursday's opening bell after the company said it plans to invest over 4 billion Norwegian kroner ($396.1 million) in the Isflak oil discovery made in the Barents Sea, along with partners Var Energi and Petoro.

Commodities

Front-month US West Texas Intermediate crude oil was down 1.1% at $57.81 per barrel on the New York Mercantile Exchange. Natural gas was down 3.2% at $4.45 per 1 million British Thermal Units. The United States Oil Fund (USO) retreated by 1.8%, while the United States Natural Gas Fund (UNG) fell by 3.9%.

Gold futures for February were up by 0.5% at $4,244.90 an ounce on the Comex, and silver futures advanced by 2.5% to $62.46 an ounce. SPDR Gold Shares (GLD) retreated by 0.4%, and the iShares Silver Trust (SLV) was 0.5% higher.