So it can be said that water ETFs also qualify as thematic ETFs – a point often overlooked because most water ETFs have lengthy track records and are old compared to other thematic funds. Additionally, water isn’t as sexy as some newer themes, such as fintech and genomics.
Prepare your finances for a recession despite strong GDP report, warn financial advisors: ‚Plan for more disruption‘
The U.S. economy grew at a strong pace in the third quarter. But there are signs of weakness under the surface.
Stocks making the biggest moves premarket: Exxon Mobil, Chevron, Amazon and others
These are the stocks posting the largest moves before the bell.
U.S. economy seeing a ‚mitigation‘ in growth not a slowdown, says Bank of America CEO
Consumers and corporations have strong underlying credit and are not holding back, Brian Moynihan said.
‚I don’t lose sleep‘: Bank of America CEO isn’t worried about financing the Twitter deal
The CEO of Bank of America doesn’t appear worried about funding Elon Musk’s Twitter takeover.
Venture capitalists are betting on a part of China’s chip industry safe from U.S. bans
China is so far behind the U.S. in semiconductor technology that some investors are betting on startups to fill that gap.
Pinterest shares soar on third-quarter revenue beat as it bucks online ads trend
Pinterest shares jumped over 14% after the company posted third-quarter earnings that beat on both revenue and earnings per share.
Intel announces up to $10 billion in cost reductions through 2025
Intel said that it intends to find cost reductions and efficiencies worth up to $10 billion through 2025. But guidance for the full fiscal year came up short.
German October prelim HICP inflation 11.6% vs 10.9% expected
<ul><li>Prior was 10.9%</li><li>HICP m/m +1.1% vs +0.5% expected</li><li>Prelim CPI m/m +0.9% vs +0.6% expected</li><li>Prelim CPI y/y +10.4% vs +10.1% expected</li></ul><p>The regional numbers that have already been reported have been hot so this isn’t a huge surprise but it highlights the challgen the ECB face and that the 50 bps priced in for December 15 isn’t enough.</p>
This article was written by Adam Button at forexlive.com.
Forexlive European FX news wrap: Eurozone inflation stays hot
<ul><li><a target=“_blank“ href=“https://www.forexlive.com/centralbank/boj-governor-kuroda-20221028/“>BOJ Governor Kuroda says will not hesitate to ease further if needed</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/centralbank/ecbs-villeroy-says-no-obligation-to-raise-rates-by-75bps-at-the-december-meeting-20221028/“>ECB’s Villeroy says no obligation to raise rates by 75bps at the December meeting</a></li><li>France October CPI 7.1% y/y vs 6.4% expected</li><li>Spain October CPI 7.3% vs 8.1% expected</li><li>Italy October CPI 12.8% vs 9.9% expected</li><li>German Q3 flast GDP +0.3% vs -0.2% expected</li><li>Spain Q3 GDP +0.2% vs +0.3% expected</li><li>Eurozone economic sentiment 92.5 vs 92.5 expected</li><li>Swiss KOF October indicator 90.9 vs 93.2 expected</li></ul><p>Markets:</p><ul><li>Gold down $12 to $1651</li><li>Brent crude down 47 cents to $96.49</li><li>S&P 500 futures down 19 points to 3801</li><li>German 10-year yields up 13 bps to 2.11%</li><li>USD leads, JPY lags</li></ul><p>The euro has largely hung with the US dollar as we await German inflation data at the top of the hour. Returns so far in Europe have been hot and that will complicate the ECB’s job, though the market may be looking beyond October.</p><p>In Japan the yen is weak but did Kuroda open the door a crack to a hawkish shift when he said that that the underlying rise in inflation is likely to heighten medium and long-term inflation expectations and lead to a sustained rise in inflation accompanied by wage gains? I wonder if the market eventually circles back to that theme.</p><p>For now, bonds are in charge with rising yields rekindling the US dollar fire. Look for PCE to dictate the moves in US trading.</p>
This article was written by Adam Button at forexlive.com.