Core Insights - Major tech companies are investing billions in AI operations, with potential payoffs on the horizon as indicated by recent research from Alger [1][4] - The five largest AI hyperscalers (Microsoft, Amazon, Meta, Alphabet, and Oracle) are projected to see a slowdown in CapEx growth while operating cash flow is expected to increase steadily [2] Group 1: AI Investment Trends - Significant capital expenditure (CapEx) is being directed towards AI, but the growth rate is expected to slow in the coming years [2] - Companies like Microsoft and Meta are already reporting AI as a notable contributor to their revenue growth as of June 2025 [4] Group 2: Investment Opportunities - Investors are encouraged to gain exposure to a variety of AI-related companies, including those involved in AI infrastructure and implementation [5] - The Alger AI Enablers & Adopters ETF (ALAI) offers diversified exposure to companies positioned to benefit from rising AI adoption, including firms like AppLovin, TSMC, and Talen Energy [6] Group 3: Investment Strategy - ALAI employs a fundamental, bottom-up approach to select high conviction stocks, focusing on companies with high unit volume growth or positive life cycle changes [7] - The strategy aims to capitalize on the broadening adoption of AI across various sectors, including traditionally less dynamic industries like Industrials and Utilities [7][8]

As of midday Tuesday, bitcoin was clinging to the psychologically important $110,000 level following a drop of more than 2% over the prior seven trading days — one that materialized as rival ether raced to record highs, potentially signaling a cryptocurrency rotation.While there’s no denying bitcoin is retreating, that pullback doesn’t mean investors should abandon the largest digital currency. In fact, some signs could be pointing to a near-term rebound. That could potentially signal a buying opportunity i ...

The U.S. job market appears an increasingly frozen tundra for job seekers. New jobs data shows the growing economic strain consumers and investors contend with heading into fall months. As the strain grows, looking beyond traditional strategies could prove beneficial when diversifying portfolios to contend with economic and market complexity this fall.Last month’s jobs added report revealed monumental slowing, with just 73,000 jobs created. Significant downward revisions to May and June’s jobs added data re ...

Core Insights - The S&P 500, Dow Jones Industrial Average, and Nasdaq Composite are key stock market indexes that reflect the performance of the U.S. stock market, with varying degrees of gains and losses depending on market conditions and economic state [1][2]. Index Characteristics - The S&P 500 includes approximately 500 of the largest U.S. stocks, weighted by market capitalization, providing a broad market performance view [2]. - The Nasdaq comprises over 3,000 stocks, heavily focused on the technology sector, making it a benchmark for technology and growth companies [2]. - The Dow consists of 30 blue-chip stocks, weighted by stock prices, offering a more conservative representation of the market [2]. Historical Performance - Since their peaks in 2000, the performance changes of the indexes are as follows: Dow increased by 288.5% nominally and 105.6% in real terms; S&P 500 rose by 322.9% nominally and 123.8% in real terms; Nasdaq grew by 325.0% nominally and 124.9% in real terms [4]. - As of August 29, 2025, the month-over-month changes were: S&P 500 up 1.9%, Dow up 3.2%, and Nasdaq up 1.6% [4]. - Adjusted for inflation, the real month-over-month changes were 1.8% for S&P 500, 3.0% for Dow, and 1.4% for Nasdaq [6]. Long-term Growth - Over the last 10 years, each index has shown significant growth in real terms: S&P 500 up 124%, Dow up 106%, and Nasdaq up 125% [8]. ETF Performance - The SPY ETF, tracking the S&P 500, shows a current real purchasing power of $3,499 from an initial investment of $1,000 at its March 2000 peak, reflecting a real compounded annual return of 5.05% [13]. - The DIA ETF, tracking the Dow, has a current real purchasing power of $3,515 from the same initial investment, with a real compounded annual return of 5.03% [14]. - The QQQ ETF, tracking the Nasdaq-100, has a current real purchasing power of $3,113 from the initial investment, yielding a real compounded annual return of 4.56% [16].

Top Performing Leveraged/Inverse ETFs Last WeekThese were last week’s top performing leveraged and inverse ETFs. Note that because of leverage, these kinds of funds can move quickly. Always do your homework.1. CEFZ – RiverNorth Active Income ETFCEFZ, which invests in various global assets to generate long-term growth and income, again tops the list for the fourth consecutive week with gains of ~56%. The CEFZ ETF has experienced an upward trend recently. A shift from a mutual fund to an ETF status is positiv ...

Despite federal regulatory headwinds, California’s Carbon Allowance Market proved resilient over the summer months. Market mechanisms that control supply provide added stability, while the possibility of state regulatory tailwinds could have a positive impact on prices looking ahead, according to a recent KraneShares report.The announcement of the executive order that took a swing at state emission regulations resulted in sharp drawdowns for California’s carbon market in the second quarter. However, with no ...

Advisors with clients interested in bitcoin investing but leery of direct exposure risk should consider the CoinShares Valkyrie Bitcoin Miners ETF (WGMI). The fund’s strategy creates lower correlation opportunities within equities while benefiting from growing bitcoin demand.As equities flounder and bond yields rise to start September trading, alternatives appear increasingly attractive. While broad equity indexes plummeted on a fresh wave of tariff uncertainty, bitcoin prices rose. With growing foundationa ...

Core Insights - AI investing has significantly driven portfolio performance, particularly benefiting major tech firms, but true AI investment requires more than just investing in these firms [1] - The emergence of physical AI applications, particularly in robotics, presents a larger investment opportunity beyond traditional data center investments [2] Group 1: AI and Robotics - NVIDIA's recent earnings call highlighted the growth of its robotics platform, indicating that robotics will be a long-term demand driver for its data center business due to higher computational needs [3] - CEO Jensen Huang emphasized that AI and robotics represent multitrillion-dollar growth opportunities for NVIDIA [4] Group 2: Supporting Ecosystem - A broader ecosystem of tech enablers, including companies like Taiwan Semiconductor, AMD, and Qualcomm, is capitalizing on AI opportunities across various sectors [4] - THNQ ETF includes companies such as Cloudflare, Snowflake, MongoDB, and Elastic, which operate in Network & Security, Big Data Analytics, and Cloud Providers segments [4] Group 3: THNQ ETF Performance - THNQ ETF has returned 18.9% year-to-date, outperforming both its category and segment averages of 14% and 14.8% respectively [8] - THNQ charges a 68 basis point fee and tracks an index that includes firms generating significant revenue from AI, categorized into infrastructure and application sectors [7] Group 4: Notable Acquisitions - Palo Alto Networks has proposed acquiring Cyberark for $25 billion, enhancing its security offerings across network, cloud, and endpoint security [5] - This acquisition positions Palo Alto Networks to provide a comprehensive security platform for a future with billions of connected devices [6]

Core Viewpoint - Despite concerns about the U.S. large-cap growth sector potentially slowing down due to macroeconomic factors, certain companies, particularly in the tech sector, continue to show strong performance driven by momentum in artificial intelligence [1][2][3][4]. Group 1: Market Conditions and Company Performance - Initial fears arose that the era of U.S. large-cap growth might be ending due to uncertain market conditions and potential economic slowdown [1][2]. - Companies like Nvidia, Meta, and Microsoft have maintained strong results, leveraging the growing enthusiasm for artificial intelligence [3]. Group 2: Investment Strategy - It is suggested that investors should not abandon U.S. large-cap growth potential but rather focus on individual securities with strong growth prospects [4]. - The Alger Concentrated Equity ETF (CNEQ) exemplifies an active investment strategy, holding 30 or fewer stocks to concentrate on company fundamentals [5]. Group 3: Portfolio Composition - CNEQ has significant exposure to leading tech companies, with over 40% of its portfolio in the information technology sector as of July 31, 2025 [6]. - The fund also includes non-tech companies like Visa, Constellation Energy, and Eli Lilly, providing diversified growth opportunities beyond tech innovation [7]. Group 4: Performance Metrics - As of August 14, 2025, CNEQ's net asset value (NAV) has increased by more than 24% year-to-date, highlighting the effectiveness of its disciplined stock selection and focus on tech momentum [9].

Core Viewpoint - Chinese stocks are performing well internationally, outpacing the S&P 500 and MSCI Emerging Markets Index since the beginning of the year [1] Group 1: Performance of China ETFs - The Invesco Golden Dragon China ETF (PGJ) has outperformed the S&P 500, rising approximately 11% over the past three months [2] - PGJ is one of the oldest China ETFs, providing access to growth stocks while reducing exposure to state-owned enterprises, with over 75% of its holdings in consumer discretionary and communication services sectors [3] Group 2: Key Holdings in PGJ - Notable companies in PGJ include Alibaba, Yum China Holdings, and JD.com, which together account for nearly 22% of the ETF's portfolio [4] - Morningstar identifies attractive valuations and listings on major U.S. exchanges as key factors for selecting stocks, with JD.com exemplifying these criteria [5] Group 3: Company Insights - JD.com is expected to focus on revenue per user and expansion into lower-tier cities, maintaining a positive non-GAAP net margin and improving financial strength [6] - Yum China, the second-largest component of PGJ, is projected to achieve a compounded annual growth rate of 11% in net unit openings over the next three years, targeting lower-tier cities for expansion [7][8] - Baidu, another significant member of PGJ, possesses a vast database of user behavior data, enhancing its AI search engine's efficiency and advertising effectiveness [9]