Shares of Global Payments tumbled 17% Thursday after the fintech firm announced the acquisition of payment processing company Worldpay from private equity firm GTCR and Fidelity National Information Services for $24.25 billion in cash and stock.
A punishing stock selloff and soaring volatility couldn’t keep investors away from one of the market’s riskiest corners: leveraged exchange-traded funds. https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i9YTmimcZ3dY/v3/1200x-1.png ZTO Express Cayman (ZTO) reported earnings 30 days ago. What’s next for the stock? We take a look at earnings estimates for some clues. Anna Paulson will be the next president of the Federal Reserve Bank of Philadelphia, replacing Patrick Harker who steps down on June 30. https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iJZdeSgOjZUQ/v3/1200x-1.jpg The Dow and S&P 500 might do something that’s never happened before, and it’s all UnitedHealth’s fault. The Dow is down 500 points, or 1.2%, while the S&P 500 is up 0.4%; the S&P has never risen on a day that the Dow has fallen more than 1%, according to Dow Jones Market Data. The Nasdaq Composite was moving in and out of positive territory. The European Central Bank lowered interest rates for the seventh time since last June as trade tensions threaten to derail the region’s economic recovery, as Lizzy Burden reports. (Source: Bloomberg) https://assets.bwbx.io/images/users/iqjWHBFdfxIU/imSM_7BaC3dY/v29/1200x-1.png Volatility intensifies after Powell warns of rising inflation and slowing growth. The ETFs discussed here could be solid bets in the current choppy market. President Donald Trump’s tariff war has hammered stocks and bonds, and shuttered the traditional IPO market. Yet even with risk appetite on hold, the area that could benefit most from the rampant volatility is among the most speculative: The SPAC market. https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iq3ekIpNNLdk/v3/1200x-1.png The uncertainty spawned from President Trump’s tariffs is sinking Federal Reserve surveys on activity in both the manufacturing and services sectors. Optimism is building that a game-changing fund design that will help asset managers shrink clients’ tax bills and grow their ETF businesses will soon be approved by the US securities regulator. https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iHq5_b3NiU5w/v3/1200x-1.png
Day Traders Refuse to Give Up Favorite Obsession: Leveraged Funds
Why Is ZTO Express Cayman (ZTO) Down 13.8% Since Last Earnings Report?
Philadelphia Fed Names Chicago Fed’s Anna Paulson as President
Paulson, currently head of research at the Chicago Fed, will be the first woman to lead the Philadelphia Fed and will be a voting member on the central bank’s rate-setting committee next year.
Paulson will take office on July 1 and will focus on keeping inflation expectations anchored amidst a unique confluence of conditions that point towards stagflation. Catarina Saraiva, Bloomberg Federal Reserve Reporter reports. (Source: Bloomberg)
Dow’s Divergence from S&P 500 Today Could Be Historic. Blame UnitedHealth.
ECB Cuts Interest Rates Again as Trump Tariff Fears Threaten Recovery
Navigate Market Swings With Low-Volatility ETFs
SPACs Set to Capitalize on IPO Freeze With $1 Billion Deal Burst
Federal Reserve surveys offer early look at challenges Trump’s tariff plans create for US manufacturers
Pimco, T. Rowe Bet on SEC Shift With Push for Tax-Savvy Funds
