Join the experts at CoinShares for an educational webcast to learn more.
Geopolitical risks are still lingering in the background, but the story lately has been all about earnings. A strong 1Q26 season, paired with a steady drumbeat of upbeat management commentary, has helped push the S&P 500 to 21 record highs this year.
Businesses are racing to build the physical infrastructure that makes AI usable at scale – data centers, the graphics processing unit (GPU) hardware stack, power, and cooling.
Equities extend gains as earnings and semiconductors lead markets higher. Consumer confidence remains subdued despite economic resilience. Inflation is easing gradually but remains above the Fed’s targey.
Artificial intelligence (AI) poses many ethical issues that may translate into risks for consumers, companies and investors. AI regulation, which is developing unevenly across jurisdictions, adds to the uncertainty. The key for investors, in our view, is to focus on transparency and explainability.
The reality is, the American people wouldn’t accept the level of taxation necessary to maintain the warfare/welfare state. There would be a tax revolt. So, the government resorts to a less obvious tax.
Risk appetite remains firmly intact as optimism surrounding a potential resolution to the war with Iran continues to improve investor sentiment. The S&P 500 has now advanced for eight consecutive weeks, with price action remaining remarkably resilient throughout the recovery.
The Bloomberg Dollar Spot Index is up 0.7% so far in May, as investors ramped up bets that the Federal Reserve will raise rates by early 2027, boosting the appeal of US assets. The gauge is on track for only its fourth monthly gain since the greenback’s 2025 downtrend began.
As globalization gives way to reshoring and resurgent resource nationalism, emerging markets may offer fresh alpha opportunities through their ability to supply the raw materials required to fuel the AI boom.
Kevin Warsh was officially sworn in as 17th Federal Reserve chair on May 22. Warsh is likely to build consensus at the Fed rather than push for aggressive action to cut rates.
The U.S. government’s decision to invest $2 billion directly into nine quantum-computing companies through minority equity stakes—not just grants—signals a major shift toward treating quantum as a strategic commercial industry, with potential implications for investors seeking targeted exposure through funds like the WisdomTree Quantum Computing Fund (WQTM).
Recent market volatility and the conflict in Iran have understandably pushed many emerging market investors to the sidelines. But periods of uncertainty have historically offered attractive entry points into emerging market debt (EMD), particularly when underlying fundamentals are improving and asset flows are likely to increase.
This persistent growth highlights how central low-cost core index products remain to advisor and retail portfolios alike. Even as asset managers roll out specialized strategies, capital continues to flow within broad-market beta.
A tidal wave of conversions has siphoned an unprecedented amount of capital out of mutual funds and into the ETF wrapper. Last year’s record 60 mutual-fund-to-ETF conversions in 2025 across 31 firms pushed total converted assets past $260 billion, and the past five years have now seen a grand total of 203 conversions.
Shares of retailers spanning Kohl’s Corp. to Best Buy Co. and Dollar Tree Inc. rose on Thursday amid optimism that shoppers are still spending when they see what they want at the right price.
Bankers are preparing to sell a jumbo debt package to support the $110 billion acquisition of Warner Bros. Discovery Inc. It’s a risky deal and comes at a moment when the bond markets have been wobbling.
In a relatively light week for traditional economic data, a mix of corporate earnings, business surveys, Federal Reserve minutes, and the latest read on the consumer from the University of Michigan helped paint an increasingly clear picture for investors.
The artificial intelligence (AI) boom has transitioned from an equity market narrative to a defining force in fixed income. Hyperscalers (Amazon (AMZN), Alphabet (GOOG/L), Meta (META), Microsoft (MSFT), and Oracle (ORCL)) are shifting from internal cash flows to substantial bond issuance to fund massive data center, graphics processing unit (GPU), and power infrastructure buildouts.
Thanks to strong gains in markets over recent years, the 60/40 default portfolio has quietly morphed into a bundle of expensive U.S. growth equities and credit exposures offering narrow spreads over Treasuries.
Contrary to what legal television series portray, verdicts rarely turn on a single moment of drama. They take shape gradually, as evidence accumulates and a broader narrative comes into focus.
Chris Galipeau discusses high-conviction insights that go beyond media headlines.
Advisory firms need tighter integration between their daily work tools and the CRM at the center of their world. When notes sit siloed from the rest of a firm's data and operations, the chance to deepen team collaboration and sharpen client insights goes with them.
The breakneck surge in memory-chip stocks is intensifying, sending the market capitalizations of SK Hynix Inc. and Micron Technology Inc. above $1 trillion for the first time, as investors bet the AI boom will lead to a sustained revaluation of the industry.
Almost two-thirds of fund managers permit some level of “nuclear exposure,” with 34% allowing investments in nuclear weaponry, according to Jefferies Financial Group Inc.’s fourth-annual ESG and defense survey.
Bitcoin struggled for a second straight week, remaining below the $80,000 threshold and reaching its lowest level in over five weeks. BTC is currently down approximately 13% year-to-date and sits ~39% below its October 2025 record high.
Despite these higher costs, a projected 45 million Americans are expected to travel at least 50 miles from home this weekend, setting a new record. Close to 40 million will drive while some 3.7 million will fly.
You don’t have to go very far to find lots of negative commentary in the popular press about the current state of the US economy. High gas prices (due to a “war of choice”) are squeezing consumers’ budgets, and so the economy is headed for a ditch.
The SpaceX initial public offering prospectus is more than 400 pages of rocket fuel-grade ambition. It is also an extended warning for investors in Tesla Inc. who aren’t named Elon Musk.
On May 26, 1896, Charles Dow calculated a simple arithmetic average of 12 industrial stocks and arrived at a closing value of 40.94. Now, exactly 130 years later, that same benchmark has crossed the historic 50,000 threshold.
Quantinuum Inc., a quantum computing company backed by Honeywell International Inc., is seeking to raise $1.05 billion in its US initial public offering, capitalizing on investor enthusiasm for the technology.
It’s been more than three years since Silicon Valley Bank lost a quarter of its deposits in a day, kicking off a string of bank rescues. The shocking speed of that run was attributed, in part, to the rapid spread of information on social media and the efficiency of digital banking.
I’ve lost count of the praise heaped on US hedge funds for their “historic performance” in April on artificial intelligence-related bets and alleged foresight of a ceasefire in the Iran war.
As more individuals turn to non-traditional financial advice — offered through social media, artificial intelligence, or other online services and platforms — advisors will be tasked with fostering a greater sense of trust with the public.
After a slowdown earlier in the year, stronger April and May data support the view that weakness in January and February, followed by a rebound in March, was largely weather-related rather than the start of a broader deterioration in housing demand.
Artificial intelligence (AI) might be the talk of the town these days, but quantum computing is the quiet thunder rumbling in the background. It just got much louder with the U.S. White House commiting to roll out a massive $2 billion funding package distributed across nine quantum computing companies.
For private equity firms, capital flexibility is prized today. Merger-and-acquisition (M&A) activity has cooled, while commodity prices and artificial intelligence (AI)-driven disruption have heated up, creating uncertainty for investors. This makes it more challenging to sell portfolio companies, so private equity firms are holding investments longer. As a result, many firms are turning to net asset value (NAV) loans for capital needs.
Stephen Dover shares key insights from the Franklin Equity team about how artificial intelligence is changing the economics of the software industry.
There is a growing risk of economic overheating in the US as the artificial intelligence boom expands beyond semiconductors and spills into the broader economy — never mind the tame wage growth and house prices that would typically point in the opposite direction.
We separate this article into two parts. Part one is the optimistic case: an AI-induced, productivity-led economic boom in which the benefits spread quickly to society. Part two will address a more bearish outlook: the possibility of a large gap in the distribution of AI's productivity benefits, accruing to corporations much more quickly than to employees.
The U.S. stock market is extremely expensive. In the past, stock markets have not remained expensive for long. Is it because of artificial intelligence? Perhaps, but a similar argument was made during the dot-com bubble.
Put succinctly, the world today requires substantially more electricity than only a few years ago. AI, electrification, reshored manufacturing, and population growth in the developing world are converging into a demand curve that the existing global power system simply cannot meet.
US stocks advanced as investors struck an upbeat tone ahead of a long holiday weekend, with optimism fueled by hopes for resolution of hostilities in the Middle East, resilient economic data and relentless enthusiasm for artificial intelligence-linked trades.
Global bond yields are reaching frightening levels due to the continued war in Iran and the effective closure of the Strait of Hormuz. Continued high oil prices and the threat of reverberating inflation are causing investors to demand higher yields on government bonds.
Hedge funds have been selling the scorching rally in US semiconductor stocks to book profits, while keeping their overall exposure to the AI theme, according to traders at Goldman Sachs Group Inc.
Emerging markets (EM) are using low-cost renewables to cut fuel imports, stabilize power costs and improve energy security—positioning EM as the growth engine of the energy transition. Countries and companies that leverage their dominance in critical minerals and green technology could pull ahead, creating dispersion in potential outcomes for investors.
With mega tech AI capital expenditure projected to cross a staggering $660 billion to $750 billion, according to estimates from firms like Goldman Sachs, CreditSights and Bloomberg, saying the stakes are high for Nvidia and the AI ecosystem is an understatement. It’s no wonder we can focus on little else this week.
At Google’s developer conference, which is being held near its Mountain View, California, headquarters this week, Chief Executive Officer Sundar Pichai started his keynote by emphasizing the remarkable reach of Google’s services. Thirteen have more than a billion users, he said, and five of them have more than 3 billion.
There’s a whiff of panic among investors these days. US Treasury yields have climbed to levels unseen in more than a year at the same time as a furious rally has left stocks near all-time highs. Surely, both moves can’t coexist for long, goes the narrative.
Wall Street is racing to turn computing power into a tradable commodity with the first ETFs being filed even before the futures contracts they would track have started to trade.
Nvidia Corp., facing more investor skepticism, used its latest quarterly report to tout progress in diversifying the company, which aims to rely less on the giant data center operators that have fueled its runaway growth.
In the past year, new models from industry leaders have continued to boost AI’s capabilities. According to various capabilities tests, Anthropic’s Mythos model has leapfrogged other AI models – including in the ability to thwart or support cyberattacks.
Enterprise software is undergoing its most significant reset in a generation. Artificial intelligence (AI) is reallocating value within software—creating clear winners and exposing vulnerabilities in business models that have worked well for the past two decades. We believe investors who treat software as a uniform asset class will make costly mistakes.
Institutional investors have spent years hearing about the promise of artificial intelligence. That phase is giving way to a more practical question: not whether AI can create more scale, but whether that scale can be governed, validated, and translated into better fiduciary decisions. For OCIO providers, AI without discipline is not an advantage.
It’s human nature to allow familiar patterns to guide our decision-making processes. But it’s just as important to recognize when changing conditions warrant a rethink. Return patterns in global equity markets appear to be shifting in ways that should prompt investors to revisit their allocations.
The exchange-traded fund marketplace continues to expand. Now with more than $20 trillion in assets under management ($14 trillion in the U.S., growing at an 18% five-year annualized clip), 2026’s volatility and emerging investment themes have taken the universe to new heights.
The rapid deployment of artificial intelligence (AI) is evident; 99% of CEOs say their companies are investing in the technology. Apparently, AI is also quick at garnering assets. Launched less than three months ago, the Pictet AI Enhanced US Equity ETF (PQUS) is already approaching the $100 million mark in assets under management (AUM).
Reassessing legacy systems through a modern lens can help firms identify where closed, context-aware platforms may offer a stronger foundation for communication governance, operational efficiency and regulatory confidence. Open AI models helped kickstart automation in compliance. Closed platforms will likely make it sustainable.
AI is unlikely to replace wealth managers — at least not in the foreseeable future. But it now has the power to expose the gaps between genuine, client-first investment advice and other approaches in a way the industry has not yet seen.
Turns out, loading up on technology giants isn’t the only route to better returns. Value companies, too, stand a decent chance of trouncing the market — as long as several conditions are met.
For much of the year, chip stocks have been powering the market higher. Now, Nvidia Corp.’s earnings have a chance to confirm that the rally has more room to run — or add another brick to investors’ wall of worry.
Veteran strategist Jeff Currie said the world is in the early stages of a commodity supercycle that may last another decade or more as the artificial intelligence buildout collides with chronic underinvestment in energy and materials capacity.
The Texas Permanent School Fund bought more than 29 million shares totaling about $740 million worth of the State Street IG Public & Private Credit ETF, trading under the ticker PRIV, in the first quarter, according to a filing Friday.
The percentage-of-assets fee is so embedded in advisory economics that most firms treat it as a fixed constant rather than a business decision. It shapes how you staff, how you plan, and how you define the relationship with clients. But the AUM model is neither as old nor as inevitable as it feels.
I’ve long been a student of game theory, the branch of mathematics that studies how rational actors make decisions when their outcomes depend on what everyone else does. It’s a helpful framework for understanding markets and geopolitics, and right now, there’s no better place to apply it than Taiwan.
A frequently asked question in recent weeks is whether the market is simply ignoring the risks stemming from the current geopolitical conflict, especially given the spike in oil prices that has pushed inflation pressures higher.
The artificial intelligence (AI) evolution moves at breakneck speed. While generative AI is still a significant part of the underlying investment thesis, physical AI is rapidly accruing momentum.
The summit in Beijing between US President Donald Trump and Chinese President Xi Jinping delivered little in the way of diplomatic breakthroughs but bears important cross-asset implications.
I was in West Texas recently to witness firsthand the emerging practical applications of artificial intelligence. What I saw bolstered my conviction about the technology’s progress and the need to mold it rather than resist the change.
Investors were forced to pay attention Friday, when the most interest-rate sensitive corners of the market saw big plunges in an ugly market selloff. The small-cap Russell 2000 Index dropped 2.4% for the biggest single-day decline since November.
NextEra Energy Inc. agreed to pay about $67 billion in stock for Dominion Energy Inc. in the biggest power acquisition ever, creating a giant utility extending from Florida to the data centers clustered in Virginia.
In the race to build the infrastructure that powers artificial intelligence, Alphabet Inc.’s Google has an enviable position: The company has a healthy cloud computing business, makes its own chips, and has struck deals to share them with companies like Anthropic PBC and Meta Platforms Inc.
U.S. inflation and rates remain elevated. Credit markets continue to show resilience. Opportunities are emerging across securitized and high yield assets
First quarter 2026 earnings were stronger than expected and we think that there might be continued strength in the second quarter, unless there is a major macro shift.
US equities continue to march higher in 2026 despite geopolitical uncertainties, supported by resilient economic data and strong corporate earnings. Much of the market narrative remains focused on mega-cap technology and artificial intelligence (AI).
Yes, this time is different, but not because inflation itself is unprecedented. What has fundamentally changed is the macroeconomic starting point. Unlike the post-Global Financial Crisis period, when persistent disinflation and repeated downside surprises dominated policy decisions, the economy today is operating in a world where structural disinflation is no longer the default backdrop.
In our Q2 Equity Market Outlook, we identified healthcare as one area where artificial intelligence (AI) is having tangible benefits and presenting investors with new expressions of the AI investment theme. While healthcare may glean some luster from an AI halo, the investment case is also one of counterbalance to the AI juggernaut.
The United States has not felt the greatest costs of the Iran conflict, but challenges are becoming visible. Energy prices have risen, with limited prospects for relief. Inflation measures are poised to spread to other product and service categories. Inventories that helped to blunt the impact are depleting; supply chain distortions are accumulating.
Explore how Women in ETFs & CFAOC experts believe AI will supplement, not replace, financial professionals.
Rising bond yields curbed traders’ appetite for risky bets early Friday, sending stocks lower following a weeks-long record-setting rally driven by a rush of cash into all things artificial intelligence.
Manufacturing activity grew strongly in New York State, according to the Empire State Manufacturing May survey. The diffusion index for General Business Conditions rose 8.6 points to 19.6, its highest level in over four years.
Elon Musk’s ambitions for artificial intelligence are coming together in a former vacuum-cleaner factory in Memphis, Tennessee.
With stocks near all-time highs, the need for change is hardly obvious. Proponents argue that requiring fewer reports will reduce the time and cost of compliance. Some blame an increase in disclosure demands over the last three decades for a sharp decline in the number of public companies.
What were the key takeaways from last month’s numbers? Our corporate bond specialists look back at the market’s performance and provide incisive commentary to help you make sense of what drove the market—and what may be on the horizon for fixed income investors.
Investing in emerging markets (EM) used to be synonymous with getting exposure to China. It’s an ideal notion, given that it’s the second largest economy and thus commands a heavy weight in standard EM benchmarks. Challenging that narrative today is a changing geopolitical landscape, which continues as U.S. president Donald Trump visits China in a high-stakes meeting between the two economic superpowers.
Semiconductors and software have largely overshadowed the electrification ETF trade. Paul Baiocchi, head of fund sales and strategy at SS&C ALPS Advisors, says most investors are missing the sectors that actually power the AI buildout.
Top RIA executives said Tuesday the industry's growth is still early, with breakaway clients and a talent shortage as key forces.
Investors are growing increasingly optimistic about Amazon.com Inc.’s position in artificial intelligence, lighting a fire under the stock and sending the company’s market capitalization soaring toward the rarefied $3 trillion level.
Ford Motor Co. has finally hit upon an electric strategy that shouldn’t lose money. The key element is that it doesn’t involve vehicles — not for now, anyway.
Apollo Global Management Inc. announced last week that it will soon provide daily pricing for its private credit. It may not sound like a big move, but its decision to lift the veil on these assets could be the most impactful development in financial markets and investing in a long time.
Fintech
Bitcoin, Bitcoin Mining, and Digital Power
Join the experts at CoinShares for an educational webcast to learn more.
Market Focus Shifts From Earnings to Macro Catalysts
Geopolitical risks are still lingering in the background, but the story lately has been all about earnings. A strong 1Q26 season, paired with a steady drumbeat of upbeat management commentary, has helped push the S&P 500 to 21 record highs this year.
Investment Discipline Amid the AI Infrastructure Boom
Businesses are racing to build the physical infrastructure that makes AI usable at scale – data centers, the graphics processing unit (GPU) hardware stack, power, and cooling.
Earnings and Semiconductors Power Markets
Equities extend gains as earnings and semiconductors lead markets higher. Consumer confidence remains subdued despite economic resilience. Inflation is easing gradually but remains above the Fed’s targey.
How Investors Can Navigate the Maze
Artificial intelligence (AI) poses many ethical issues that may translate into risks for consumers, companies and investors. AI regulation, which is developing unevenly across jurisdictions, adds to the uncertainty. The key for investors, in our view, is to focus on transparency and explainability.
Sound Money: The Enemy of Big Government and a Friend to Liberty
The reality is, the American people wouldn’t accept the level of taxation necessary to maintain the warfare/welfare state. There would be a tax revolt. So, the government resorts to a less obvious tax.
Technical Take on the Record-High Rally
Risk appetite remains firmly intact as optimism surrounding a potential resolution to the war with Iran continues to improve investor sentiment. The S&P 500 has now advanced for eight consecutive weeks, with price action remaining remarkably resilient throughout the recovery.
Dollar’s Monthly Rise Leaves Strategists Wary of More Gains
The Bloomberg Dollar Spot Index is up 0.7% so far in May, as investors ramped up bets that the Federal Reserve will raise rates by early 2027, boosting the appeal of US assets. The gauge is on track for only its fourth monthly gain since the greenback’s 2025 downtrend began.
Guided by Fundamentals: Navigating Emerging Markets with Value
As globalization gives way to reshoring and resurgent resource nationalism, emerging markets may offer fresh alpha opportunities through their ability to supply the raw materials required to fuel the AI boom.
Washington: What to Watch Now
Kevin Warsh was officially sworn in as 17th Federal Reserve chair on May 22. Warsh is likely to build consensus at the Fed rather than push for aggressive action to cut rates.
The U.S. Government Just Became a Quantum Investor
The U.S. government’s decision to invest $2 billion directly into nine quantum-computing companies through minority equity stakes—not just grants—signals a major shift toward treating quantum as a strategic commercial industry, with potential implications for investors seeking targeted exposure through funds like the WisdomTree Quantum Computing Fund (WQTM).
Why Now Is the Time to Revisit Emerging Market Debt
Recent market volatility and the conflict in Iran have understandably pushed many emerging market investors to the sidelines. But periods of uncertainty have historically offered attractive entry points into emerging market debt (EMD), particularly when underlying fundamentals are improving and asset flows are likely to increase.
VOO Nears Historic $1 Trillion Milestone
This persistent growth highlights how central low-cost core index products remain to advisor and retail portfolios alike. Even as asset managers roll out specialized strategies, capital continues to flow within broad-market beta.
The Great Wrapper Migration: Mutual Fund-to-ETF Conversions Cross 200
A tidal wave of conversions has siphoned an unprecedented amount of capital out of mutual funds and into the ETF wrapper. Last year’s record 60 mutual-fund-to-ETF conversions in 2025 across 31 firms pushed total converted assets past $260 billion, and the past five years have now seen a grand total of 203 conversions.
Retail Stocks Surge With US Shoppers Surprising Wall Street
Shares of retailers spanning Kohl’s Corp. to Best Buy Co. and Dollar Tree Inc. rose on Thursday amid optimism that shoppers are still spending when they see what they want at the right price.
The Ellison Family’s $49 Billion Ask Is an Acid Test for Markets
Bankers are preparing to sell a jumbo debt package to support the $110 billion acquisition of Warner Bros. Discovery Inc. It’s a risky deal and comes at a moment when the bond markets have been wobbling.
Stocks Rise on AI Optimism While Fed Signals Higher Rates for Longer
In a relatively light week for traditional economic data, a mix of corporate earnings, business surveys, Federal Reserve minutes, and the latest read on the consumer from the University of Michigan helped paint an increasingly clear picture for investors.
AI’s New Frontier: The Transformation of Investment-Grade Credit
The artificial intelligence (AI) boom has transitioned from an equity market narrative to a defining force in fixed income. Hyperscalers (Amazon (AMZN), Alphabet (GOOG/L), Meta (META), Microsoft (MSFT), and Oracle (ORCL)) are shifting from internal cash flows to substantial bond issuance to fund massive data center, graphics processing unit (GPU), and power infrastructure buildouts.
Diversifying Beyond 60/40 With a More Dynamic Allocation
Thanks to strong gains in markets over recent years, the 60/40 default portfolio has quietly morphed into a bundle of expensive U.S. growth equities and credit exposures offering narrow spreads over Treasuries.
Gilt-y As Charged
Contrary to what legal television series portray, verdicts rarely turn on a single moment of drama. They take shape gradually, as evidence accumulates and a broader narrative comes into focus.
Fundamental Backdrop Strong. Watch for Pullbacks.
Chris Galipeau discusses high-conviction insights that go beyond media headlines.
Your Notetaker Should Be an Integrated Part of Your Firm’s Ecosystem
Advisory firms need tighter integration between their daily work tools and the CRM at the center of their world. When notes sit siloed from the rest of a firm's data and operations, the chance to deepen team collaboration and sharpen client insights goes with them.
Memory Chip Frenzy Sends SK Hynix, Micron Into $1 Trillion Club
The breakneck surge in memory-chip stocks is intensifying, sending the market capitalizations of SK Hynix Inc. and Micron Technology Inc. above $1 trillion for the first time, as investors bet the AI boom will lead to a sustained revaluation of the industry.
Jefferies Says Investors Boost ‘Nuclear Exposure’: ESG Investing
Almost two-thirds of fund managers permit some level of “nuclear exposure,” with 34% allowing investments in nuclear weaponry, according to Jefferies Financial Group Inc.’s fourth-annual ESG and defense survey.
Cryptocurrencies: Bitcoin Steadily Declines to 5-Week Low
Bitcoin struggled for a second straight week, remaining below the $80,000 threshold and reaching its lowest level in over five weeks. BTC is currently down approximately 13% year-to-date and sits ~39% below its October 2025 record high.
45 Million Americans Hit the Road This Weekend Despite $4.50 Gas
Despite these higher costs, a projected 45 million Americans are expected to travel at least 50 miles from home this weekend, setting a new record. Close to 40 million will drive while some 3.7 million will fly.
Not So Bad
You don’t have to go very far to find lots of negative commentary in the popular press about the current state of the US economy. High gas prices (due to a “war of choice”) are squeezing consumers’ budgets, and so the economy is headed for a ditch.
SpaceX Writes Tesla’s Future in the Stars
The SpaceX initial public offering prospectus is more than 400 pages of rocket fuel-grade ambition. It is also an extended warning for investors in Tesla Inc. who aren’t named Elon Musk.
130 Years of the Dow: Why It Still Matters for Advisors
On May 26, 1896, Charles Dow calculated a simple arithmetic average of 12 industrial stocks and arrived at a closing value of 40.94. Now, exactly 130 years later, that same benchmark has crossed the historic 50,000 threshold.
Honeywell-Backed Quantinuum Seeks to Raise $1.05 Billion in IPO
Quantinuum Inc., a quantum computing company backed by Honeywell International Inc., is seeking to raise $1.05 billion in its US initial public offering, capitalizing on investor enthusiasm for the technology.
Banks Need to Prepare for a High-Speed Run
It’s been more than three years since Silicon Valley Bank lost a quarter of its deposits in a day, kicking off a string of bank rescues. The shocking speed of that run was attributed, in part, to the rapid spread of information on social media and the efficiency of digital banking.
Hedge Funds Are Losing Their Edge in a World of ETFs
I’ve lost count of the praise heaped on US hedge funds for their “historic performance” in April on artificial intelligence-related bets and alleged foresight of a ceasefire in the Iran war.
Building Trust as Finance Shifts From Traditional Advice
As more individuals turn to non-traditional financial advice — offered through social media, artificial intelligence, or other online services and platforms — advisors will be tasked with fostering a greater sense of trust with the public.
Housing Market 2026: Frozen, Not Broken
After a slowdown earlier in the year, stronger April and May data support the view that weakness in January and February, followed by a rebound in March, was largely weather-related rather than the start of a broader deterioration in housing demand.
Washington’s $2 Billion Quantum Bet Can Prop Up These ETFs
Artificial intelligence (AI) might be the talk of the town these days, but quantum computing is the quiet thunder rumbling in the background. It just got much louder with the U.S. White House commiting to roll out a massive $2 billion funding package distributed across nine quantum computing companies.
NAV Loans: Flexibility for Private Equity When Holding Periods Extend
For private equity firms, capital flexibility is prized today. Merger-and-acquisition (M&A) activity has cooled, while commodity prices and artificial intelligence (AI)-driven disruption have heated up, creating uncertainty for investors. This makes it more challenging to sell portfolio companies, so private equity firms are holding investments longer. As a result, many firms are turning to net asset value (NAV) loans for capital needs.
How AI Is Transforming Software
Stephen Dover shares key insights from the Franklin Equity team about how artificial intelligence is changing the economics of the software industry.
Inflation Is a Tax on AI’s Unfettered Spending Spree
There is a growing risk of economic overheating in the US as the artificial intelligence boom expands beyond semiconductors and spills into the broader economy — never mind the tame wage growth and house prices that would typically point in the opposite direction.
The AI Economy: A Look Beyond the Facade
We separate this article into two parts. Part one is the optimistic case: an AI-induced, productivity-led economic boom in which the benefits spread quickly to society. Part two will address a more bearish outlook: the possibility of a large gap in the distribution of AI's productivity benefits, accruing to corporations much more quickly than to employees.
The Pieces of the Forecast Return Puzzle: Choose Your Values
The U.S. stock market is extremely expensive. In the past, stock markets have not remained expensive for long. Is it because of artificial intelligence? Perhaps, but a similar argument was made during the dot-com bubble.
The Energy Pivot: Establishing Supply in the Face of Historic Demand
Put succinctly, the world today requires substantially more electricity than only a few years ago. AI, electrification, reshored manufacturing, and population growth in the developing world are converging into a demand curve that the existing global power system simply cannot meet.
AI-Fueled Rally Puts S&P 500 on Track for Eighth Weekly Gain
US stocks advanced as investors struck an upbeat tone ahead of a long holiday weekend, with optimism fueled by hopes for resolution of hostilities in the Middle East, resilient economic data and relentless enthusiasm for artificial intelligence-linked trades.
Are Climbing Bond Yields a Signal to the Fed to Raise Interest Rates?
Global bond yields are reaching frightening levels due to the continued war in Iran and the effective closure of the Strait of Hormuz. Continued high oil prices and the threat of reverberating inflation are causing investors to demand higher yields on government bonds.
Goldman Says Hedge Funds Took Profit on Huge Chip-Stock Rally
Hedge funds have been selling the scorching rally in US semiconductor stocks to book profits, while keeping their overall exposure to the AI theme, according to traders at Goldman Sachs Group Inc.
Renewable Energy Could Define Winners and Losers in Emerging Markets
Emerging markets (EM) are using low-cost renewables to cut fuel imports, stabilize power costs and improve energy security—positioning EM as the growth engine of the energy transition. Countries and companies that leverage their dominance in critical minerals and green technology could pull ahead, creating dispersion in potential outcomes for investors.
It’s Nvidia’s World: How Advisors See the Next Phase of AI
With mega tech AI capital expenditure projected to cross a staggering $660 billion to $750 billion, according to estimates from firms like Goldman Sachs, CreditSights and Bloomberg, saying the stakes are high for Nvidia and the AI ecosystem is an understatement. It’s no wonder we can focus on little else this week.
Google Is Trying to Integrate Too Much AI Too Quickly
At Google’s developer conference, which is being held near its Mountain View, California, headquarters this week, Chief Executive Officer Sundar Pichai started his keynote by emphasizing the remarkable reach of Google’s services. Thirteen have more than a billion users, he said, and five of them have more than 3 billion.
High Bond Yields Are What America Needs in the AI Era
There’s a whiff of panic among investors these days. US Treasury yields have climbed to levels unseen in more than a year at the same time as a furious rally has left stocks near all-time highs. Surely, both moves can’t coexist for long, goes the narrative.
The Race to Offer Compute Futures to Masses Has Already Started
Wall Street is racing to turn computing power into a tradable commodity with the first ETFs being filed even before the futures contracts they would track have started to trade.
Nvidia Tells Skeptical Investors AI Is Ready to Go Mainstream
Nvidia Corp., facing more investor skepticism, used its latest quarterly report to tout progress in diversifying the company, which aims to rely less on the giant data center operators that have fueled its runaway growth.
AI, Market Power, and Diminishing Labor Share
In the past year, new models from industry leaders have continued to boost AI’s capabilities. According to various capabilities tests, Anthropic’s Mythos model has leapfrogged other AI models – including in the ability to thwart or support cyberattacks.
Software in the “Age of Intelligence”
Enterprise software is undergoing its most significant reset in a generation. Artificial intelligence (AI) is reallocating value within software—creating clear winners and exposing vulnerabilities in business models that have worked well for the past two decades. We believe investors who treat software as a uniform asset class will make costly mistakes.
AI Won’t Replace OCIO, It Will Separate Leaders From the Rest
Institutional investors have spent years hearing about the promise of artificial intelligence. That phase is giving way to a more practical question: not whether AI can create more scale, but whether that scale can be governed, validated, and translated into better fiduciary decisions. For OCIO providers, AI without discipline is not an advantage.
Equity Market Rotation Reveals a Wider World of Return Potential
It’s human nature to allow familiar patterns to guide our decision-making processes. But it’s just as important to recognize when changing conditions warrant a rethink. Return patterns in global equity markets appear to be shifting in ways that should prompt investors to revisit their allocations.
The ETF Universe Keeps Expanding. So Does the Complexity of Tracking It.
The exchange-traded fund marketplace continues to expand. Now with more than $20 trillion in assets under management ($14 trillion in the U.S., growing at an 18% five-year annualized clip), 2026’s volatility and emerging investment themes have taken the universe to new heights.
AI-Driven ETF Close to Hitting $100M in Just 3 Months
The rapid deployment of artificial intelligence (AI) is evident; 99% of CEOs say their companies are investing in the technology. Apparently, AI is also quick at garnering assets. Launched less than three months ago, the Pictet AI Enhanced US Equity ETF (PQUS) is already approaching the $100 million mark in assets under management (AUM).
From Open Models to Closed Platforms: The Next Generation of AI-Backed RegTech Is Here
Reassessing legacy systems through a modern lens can help firms identify where closed, context-aware platforms may offer a stronger foundation for communication governance, operational efficiency and regulatory confidence. Open AI models helped kickstart automation in compliance. Closed platforms will likely make it sustainable.
AI Might Finally Level the Playing Field for Advisors, Brokers
AI is unlikely to replace wealth managers — at least not in the foreseeable future. But it now has the power to expose the gaps between genuine, client-first investment advice and other approaches in a way the industry has not yet seen.
Value Stocks With Earnings Strength Post 3,500% Run Since 2000
Turns out, loading up on technology giants isn’t the only route to better returns. Value companies, too, stand a decent chance of trouncing the market — as long as several conditions are met.
Nvidia Earnings Are Set to Make or Break the Chip Stock Rally
For much of the year, chip stocks have been powering the market higher. Now, Nvidia Corp.’s earnings have a chance to confirm that the rally has more room to run — or add another brick to investors’ wall of worry.
Jeff Currie Says AI Boom Sets Up Commodities for Decade-Long Run
Veteran strategist Jeff Currie said the world is in the early stages of a commodity supercycle that may last another decade or more as the artificial intelligence buildout collides with chronic underinvestment in energy and materials capacity.
Texas Fund Revealed as Big Backer of State Street Credit ETF
The Texas Permanent School Fund bought more than 29 million shares totaling about $740 million worth of the State Street IG Public & Private Credit ETF, trading under the ticker PRIV, in the first quarter, according to a filing Friday.
From the US Market Desk: Now What?
Chris Galipeau discusses high-conviction insights that go beyond media headlines.
The Rise of AUM Fees: Why the Next Market Correction Puts the Model at Risk
The percentage-of-assets fee is so embedded in advisory economics that most firms treat it as a fixed constant rather than a business decision. It shapes how you staff, how you plan, and how you define the relationship with clients. But the AUM model is neither as old nor as inevitable as it feels.
The Game Theory Behind Taiwan
I’ve long been a student of game theory, the branch of mathematics that studies how rational actors make decisions when their outcomes depend on what everyone else does. It’s a helpful framework for understanding markets and geopolitics, and right now, there’s no better place to apply it than Taiwan.
Rising Treasury Yields Challenge AI’s Narrow Market Leadership
A frequently asked question in recent weeks is whether the market is simply ignoring the risks stemming from the current geopolitical conflict, especially given the spike in oil prices that has pushed inflation pressures higher.
AI, Drones, Robotics Come Together in New ETF
The artificial intelligence (AI) evolution moves at breakneck speed. While generative AI is still a significant part of the underlying investment thesis, physical AI is rapidly accruing momentum.
Under the Macroscope: Trump-Xi Summit—A Tactical Relief Rally, Not a Strategic Reset
The summit in Beijing between US President Donald Trump and Chinese President Xi Jinping delivered little in the way of diplomatic breakthroughs but bears important cross-asset implications.
I Have Seen the Future of Physical AI in Dusty West Texas
I was in West Texas recently to witness firsthand the emerging practical applications of artificial intelligence. What I saw bolstered my conviction about the technology’s progress and the need to mold it rather than resist the change.
Inflation Uptick Is Starting to Send Sell Signals to Stock Bulls
Investors were forced to pay attention Friday, when the most interest-rate sensitive corners of the market saw big plunges in an ugly market selloff. The small-cap Russell 2000 Index dropped 2.4% for the biggest single-day decline since November.
NextEra to Buy Dominion for $67 Billion to Form Power Giant
NextEra Energy Inc. agreed to pay about $67 billion in stock for Dominion Energy Inc. in the biggest power acquisition ever, creating a giant utility extending from Florida to the data centers clustered in Virginia.
Google’s Own AI Researchers Jockey for Access to Its Computing
In the race to build the infrastructure that powers artificial intelligence, Alphabet Inc.’s Google has an enviable position: The company has a healthy cloud computing business, makes its own chips, and has struck deals to share them with companies like Anthropic PBC and Meta Platforms Inc.
Sticky Inflation Tests Markets as Credit Holds Firm
U.S. inflation and rates remain elevated. Credit markets continue to show resilience. Opportunities are emerging across securitized and high yield assets
Schwab Market Perspective
First quarter 2026 earnings were stronger than expected and we think that there might be continued strength in the second quarter, unless there is a major macro shift.
Rethinking US Equity Exposure Through Sectors
US equities continue to march higher in 2026 despite geopolitical uncertainties, supported by resilient economic data and strong corporate earnings. Much of the market narrative remains focused on mega-cap technology and artificial intelligence (AI).
Inflation: Is This Time Different?
Yes, this time is different, but not because inflation itself is unprecedented. What has fundamentally changed is the macroeconomic starting point. Unlike the post-Global Financial Crisis period, when persistent disinflation and repeated downside surprises dominated policy decisions, the economy today is operating in a world where structural disinflation is no longer the default backdrop.
Seeking Innovation Beyond Tech? Insight on Healthcare Stocks
In our Q2 Equity Market Outlook, we identified healthcare as one area where artificial intelligence (AI) is having tangible benefits and presenting investors with new expressions of the AI investment theme. While healthcare may glean some luster from an AI halo, the investment case is also one of counterbalance to the AI juggernaut.
Climbing With Caution
The United States has not felt the greatest costs of the Iran conflict, but challenges are becoming visible. Energy prices have risen, with limited prospects for relief. Inflation measures are poised to spread to other product and service categories. Inventories that helped to blunt the impact are depleting; supply chain distortions are accumulating.
Will I Be Replaced? Decoding the $1.5T AI Disruption in Finance
Explore how Women in ETFs & CFAOC experts believe AI will supplement, not replace, financial professionals.
Stock Futures Slide as Inflation Jitters Bring Rally to a Halt
Rising bond yields curbed traders’ appetite for risky bets early Friday, sending stocks lower following a weeks-long record-setting rally driven by a rush of cash into all things artificial intelligence.
Empire State Manufacturing Survey: Highest Level in Four Years
Manufacturing activity grew strongly in New York State, according to the Empire State Manufacturing May survey. The diffusion index for General Business Conditions rose 8.6 points to 19.6, its highest level in over four years.
Forget Grok. Musk's AI Edge Is Infrastructure, Not Software
Elon Musk’s ambitions for artificial intelligence are coming together in a former vacuum-cleaner factory in Memphis, Tennessee.
Investors Benefit From More Financial Data, Not Less
With stocks near all-time highs, the need for change is hardly obvious. Proponents argue that requiring fewer reports will reduce the time and cost of compliance. Some blame an increase in disclosure demands over the last three decades for a sharp decline in the number of public companies.
The Fed Sees Dissents Amid a Fluctuating Economy
What were the key takeaways from last month’s numbers? Our corporate bond specialists look back at the market’s performance and provide incisive commentary to help you make sense of what drove the market—and what may be on the horizon for fixed income investors.
The Ex-China Files: ETFs to Watch Amid Trump’s High-Stakes Visit
Investing in emerging markets (EM) used to be synonymous with getting exposure to China. It’s an ideal notion, given that it’s the second largest economy and thus commands a heavy weight in standard EM benchmarks. Challenging that narrative today is a changing geopolitical landscape, which continues as U.S. president Donald Trump visits China in a high-stakes meeting between the two economic superpowers.
Solving the Structural AI Power Deficit
Semiconductors and software have largely overshadowed the electrification ETF trade. Paul Baiocchi, head of fund sales and strategy at SS&C ALPS Advisors, says most investors are missing the sectors that actually power the AI buildout.
RIA Growth Is Just Getting Started, CEOs Say
Top RIA executives said Tuesday the industry's growth is still early, with breakaway clients and a talent shortage as key forces.
Amazon’s AI Success Sends Stock Racing Toward $3 Trillion Club
Investors are growing increasingly optimistic about Amazon.com Inc.’s position in artificial intelligence, lighting a fire under the stock and sending the company’s market capitalization soaring toward the rarefied $3 trillion level.
Ford Is Becoming an AI Stock — Sort Of
Ford Motor Co. has finally hit upon an electric strategy that shouldn’t lose money. The key element is that it doesn’t involve vehicles — not for now, anyway.
Apollo’s Pricing Plan Will Transform Private Credit
Apollo Global Management Inc. announced last week that it will soon provide daily pricing for its private credit. It may not sound like a big move, but its decision to lift the veil on these assets could be the most impactful development in financial markets and investing in a long time.