31 Mins Ago
CNBC Pro: Silver vs Gold: Bank of America names 4 ‘attractive’ ETFs to gain exposure to precious metals
As the price of gold hits an all-time high and silver rallies to a multi-year high, Bank of America has identified four exchange-traded funds (ETFs) that offer attractive exposure to precious metals.
These funds reflect baskets of physical precious metals, with varying allocations to silver, gold, palladium, and platinum.
The bank’s research also suggests that a portfolio with 40% exposure to broad commodities would have outperformed a portfolio with 40% United States Treasury bonds by 0.8% per year since 1945.
CNBC Pro subscribers can read more here.
— Ganesh Rao
31 Mins Ago
CNBC Pro: Overinvested in Nvidia? Here are some alternative growth stocks
Investor darling Nvidia continued its artificial intelligence-fueled boom, with its earnings beating expectations last week.
“The biggest question that remains is how long this runway is,” said Lucas Keh, analyst at research firm Third Bridge.
Wall Street is still mostly bullish on Nvidia. But investors who are worried about being overexposed to Nvidia or who want to make their portfolios more balanced could consider replacing their Nvidia allocation or complementing it with other growth stocks with a low correlation to the chipmaker.
CNBC Pro subscribers can read more here.
— Weizhen Tan
Fri, May 24 2024 3:42 PM EDT
Nvidia shares notch 15% weekly gain
Chipmaker Nvidia has rallied 15% week-to-date. The stock has surged following its better than expected quarter earnings report on Wednesday, which indicated ongoing strong demand for its artificial intelligence chips.
Shares topped $1,000 for the first time this week on the earnings.
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Nvidia shares week to date
Fri, May 24 2024 2:44 PM EDT
Signs of market broadening appearing, says strategist
Even as big tech names power the market higher and dominate headlines, there are signs of broadening, according to Ross Mayfield, investment strategy analyst at Baird.
“While there was some angst last year over heavy concentration in Big Tech stocks, the market has broadened out significantly in recent months,” Mayfield said.
He noted that “While concentrated markets have not historically led to bad returns, it is usually a sign of a healthier economy when breadth — the number of individual stocks and sectors that are doing well — is better (more legs supporting the stool, so to speak).”
— Hakyung Kim
Fri, May 24 2024 6:45 AM EDT
SEC approves rule change to pave way for ether ETFs
Omar Marques | Lightrocket | Getty Images
The U.S. Securities and Exchange Commission approved a change that opens the door for exchange-traded funds that can own cryptocurrency ether. The change comes less than six months after the SEC greenlit bitcoin ETFs. Ether prices initially rose on the news, but were last down 2% at $3,702.11.