(Scott Olson/Getty Images) |
|
|
Last week's CrowdStrike outage grounded thousands of flights, but somehow Southwest was largely unaffected. Rumor has it that's because it's still running on '90s operating systems. Decades of hitting "ignore" on software updates finally paid off. The S&P 500 bounced back into the green yesterday after a three-day slump. Tech rebounded as investors looked forward to a packed week of earnings, including reports from Alphabet and Tesla today. |
|
|
Coming to a retirement account near you… Crypto traders celebrated over the weekend after the Chicago Board Options Exchange (the US's largest options exchange) said that five spot ethereum exchange-traded funds were scheduled to start trading today. The ETFs will track the price of the second-largest coin, letting crypto-cautious investors get exposure to ethereum's moves without having to own the crypto. It's the same idea as spot bitcoin ETFs, which started trading in January. Bitcoin has since rallied 45%. |
- 401(k)rypto: With spot ethereum ETFs, investors saving for retirement with 401(k)s and IRAs can more easily add crypto to their portfolios.
- ETFees: Ethereum ETF issuers Fidelity, Franklin Templeton, Invesco, 21Shares, and VanEck are competing to offer the lowest management fees in the hope of snatching market share.
|
Makin' market moves… Analysts at Citi expect $5B to flow into spot ether ETFs within their first six months of trading. While that's far less than the $16.6B spot bitcoin ETFs have pulled in, it's still significant. Tamping down the enthusiasm: spot ethereum ETFs aren't expected to allow staking, which experts say could dissuade some investors looking for more returns on their ETH-vestment. Still, ethereum fans are hoping an influx of retail $$ will drive up the price of the coin. |
|
|
Crypto's getting institutional… By making crypto more palatable to the likes of pension funds, hedge funds, and investment banks, spot crypto ETFs could cement cryptocurrency's place in the financial mainstream. And it may be just the start: some analysts say a solana ETF or a fund representing a mix of coins could be next. There's plenty of room to grow, with the Fed estimating that last year just 7% of US adults owned or used crypto. |
|
|
Insuring your most important assets is a no-brainer…. but it usually comes at a recurring cost. As a trader, index options function like an insurance policy for your portfolio with a one time premium payment — whether to protect it, or to generate yield enhancement. Nasdaq-100 Index Options (NDX) allow retail and institutional investors to stay invested in some of the world's most innovative non-financial companies while potentially reducing downside risk. NDX Options offer: Cash settlement: An in-the-money NDX option simply settles to cash in your account at expiration. European style: NDX option contracts can only be exercised upon expiration, reducing the early assignment risk taken on by sellers. Tax-favorable treatment: Options contracts are subject to taxes — but index options benefit from a more favorable tax treatment (even when held less than a year). Discover how Nasdaq Index Options could enhance your investment strategy. |
|
|
Insuring your most important assets is a no-brainer…. but it usually comes at a recurring cost. As a trader, index options function like an insurance policy for your portfolio with a one time premium payment — whether to protect it, or to generate yield enhancement. Nasdaq-100 Index Options (NDX) allow retail and institutional investors to stay invested in some of the world's most innovative non-financial companies while potentially reducing downside risk. NDX Options offer: Cash settlement: An in-the-money NDX option simply settles to cash in your account at expiration. European style: NDX option contracts can only be exercised upon expiration, reducing the early assignment risk taken on by sellers. Tax-favorable treatment: Options contracts are subject to taxes — but index options benefit from a more favorable tax treatment (even when held less than a year). Discover how Nasdaq Index Options could enhance your investment strategy. |
|
|
Collecting labor XP… Workers at Microsoft-owned Bethesda Game Studios, known for open-world hits like "Fallout," "Skyrim," and "Starfield," have unionized. The union, which calls itself OneBGS (not a boy band), represents about 240 Bethesda employees in three US locations. Unlike many other unions in the gaming industry, OneBGS is made up of workers across all its teams, including developers, engineers, and artists. It's the latest unionization effort in the US gaming industry, which outearns the box office by 6x. |
- Quick time event: OneBGS arrives as Bethesda's "Fallout" IP is seeing renewed interest off its popular Amazon Prime show. And soon Bethesda plans to launch an expansion for "Starfield," which last year generated nearly $660M in sales.
- Co-op: Microsoft recognized the union this week, suggesting it's open to negotiations. In 2022, it signed a labor neutrality agreement with the Communications Workers of America as part of its (now successful) effort to buy "Call of Duty" maker Activision.
- Next quest: OneBGS and Microsoft will have to agree on a contract, which only one US union has achieved at a major gaming company.
|
Burnout fallout… Gaming's workforce hasn't been playing on easy mode. Industry layoffs this year have hit an estimated 11K+, already eclipsing last year's cuts as major publishers like Take-Two, Sony, and Microsoft announced reductions and closed studios. More than half of developers said they've experienced "crunch" (aka: grueling work hours in the months before and after game releases). In response, union efforts have leveled up. Microsoft previously recognized unions formed at its gaming subsidiaries Activision and ZeniMax, and in March unionized US Sega workers struck a deal on a new contract. |
|
|
Adapting can beat resisting… Microsoft's move to recognize unions sets it apart from rivals like Apple and Amazon, which have resisted unionization efforts. The AFL-CIO, the US's largest federation of unions, praised the company's labor collaboration. For Microsoft, it's a bet that adapting to worker movements — instead of fighting them — will mean fewer glitches in the long run. |
|
|
- OT: Warner Bros. Discovery is fighting to keep its NBA media rights as the shot clock runs down (the league's already made $76B worth of deals with Disney, Universal, and Amazon). Warner said it'll match an offer.
- Checked: Ryanair stock fell after the European budget airline said its quarterly profit plunged 46%, despite a surge in travelers. Spirit Airlines warned of a wider loss as carriers struggle with weak fares in an oversupplied market.
- BoeingBetter: Boeing got orders for up to 70 jets from Korean Air and Japan Airlines. The beleaguered plane maker, which reports earnings next week, could use the boost as rival Airbus increases its lead.
- Grounded: Delta's still grappling with Friday's CrowdStrike-caused outage, which the software co said it's "deployed a fix" for. Delta canceled 700+ flights Monday, while American and United resumed normal ops.
- Combo: Most McDonald's locations will extend the $5 meal deal they offered last month after it helped lure back cash-strapped customers. Burger King, Wendy's, and other fast franchises launched similar deals.
|
|
|
- US June existing-home sales
- Earnings expected from Spotify, UPS, GE Aerospace, GM, Coca-Cola, Lockheed Martin, Comcast, Philip Morris, Kimberly-Clark, Genuine Parts, Moody's, Sherwin-Williams, Quest Diagnostics, Albertsons, Tesla, Alphabet, Visa, Texas Instruments, Capital One, Seagate, Cal-Maine Foods, Canadian National Railway, and Mattel
|
Authors of this Snacks own bitcoin and ethereum and shares of Alphabet, Amazon, Apple, Delta, Disney, GM, Microsoft, Tesla, and Warner Bros. Discovery |
Advertiser's disclosures: 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, digital asset or an overall investment strategy. Neither Nasdaq, Inc. nor any of its affiliates makes any recommendation to buy or sell any security or digital asset 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. Investing in options carries unique risks. ADVICE FROM A SECURITIES PROFESSIONAL IS STRONGLY ADVISED. |
|
|
Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate... See more |
|
|
|
