Core Viewpoint - Nasdaq has submitted a rule change application to the SEC to eliminate the position limit on Bitcoin and Ethereum spot ETF options, aligning them with the rules applicable to other commodity ETFs [1] Group 1: Regulatory Changes - The proposed rule change was submitted on January 7 and involves the current limit of 25,000 contracts on related options [1] - The institutions affected by this proposal include BlackRock, Fidelity, Grayscale, ARK/21Shares, and VanEck [1] - The SEC is expected to make a final decision by the end of February [1] Group 2: Market Implications - The MACD golden cross signal has formed, indicating positive momentum for certain stocks [1]

Group 1 - CK Hutchison Holdings is considering a listing of its global telecommunications business in London and Hong Kong [1] - The potential listing could occur as early as the third quarter following the spin-off from the group [1]

Core Viewpoint - Nasdaq's new rule IM-5101-3 introduces a risk-based framework allowing it to reject initial listing applications based on perceived susceptibility to manipulation, reflecting a response to recent issues with listed securities and concerns from the SEC regarding potential market manipulation [1][2]. Group 1: Rule Overview - The rule, effective from December 19, 2025, is part of Nasdaq's discretionary framework for managing initial and continued listings, emphasizing its role as a self-regulatory organization to prevent fraud and manipulation [1]. - Rule 5101 grants Nasdaq the authority to deny or conditionally approve initial listings or suspend or cancel listings to protect investor interests and maintain market quality [1][4]. - Unlike Nasdaq's previous quantitative listing standards focused on financial metrics, Rule 5101 provides greater flexibility to address situations that may harm market integrity or investor protection [1][2]. Group 2: Factors for Rejection - Nasdaq can refuse initial listing applications based on factors that may lead to securities being easily manipulated, even if all other listing requirements are met [6]. - Factors considered may include the company's jurisdiction, the influence of individuals or entities, and the potential for regulatory enforcement challenges [10]. Group 3: Notification and Disclosure - If Nasdaq decides to reject an initial listing based on IM-5101-3, it will issue a written decision outlining the basis for its decision, which must be publicly disclosed by the company within four business days [8]. Group 4: Implications for Companies - Companies planning to go public on Nasdaq, especially foreign private issuers, should assess various factors early in the listing process, including advisor scrutiny and ownership structures, to mitigate the risk of rejection under the new rule [9]. - Current applicants should prepare for potential additional hurdles due to this rule and consider whether to change advisors or reassess their organizational structure [9]. - Concerns regarding advisors, particularly those operating in jurisdictions with limited transparency or recourse, may impact their ability to participate in Nasdaq IPOs [9].

Core Insights - The Invesco QQQ Trust (QQQ) and Invesco S&P 500 Equal Weight ETF (RSP) differ significantly in risk, sector exposure, and income potential, which are crucial for portfolio resilience [1][2] Cost and Size Comparison - QQQ has an expense ratio of 0.18% and AUM of $412.7 billion, while RSP has a slightly higher expense ratio of 0.20% and AUM of $78.7 billion [3] - The 1-year return for QQQ is 23.6%, compared to RSP's 14.1%, and QQQ has a dividend yield of 0.4% versus RSP's 1.6% [3][4] Performance and Risk Comparison - Over the past five years, QQQ experienced a maximum drawdown of -35.12%, while RSP had a drawdown of -21.37% [5] - An investment of $1,000 in QQQ would have grown to $1,993, while the same investment in RSP would have grown to $1,506 over five years [5] Sector Exposure and Diversification - RSP holds approximately 505 stocks with equal weight, providing broad sector exposure, particularly in Technology, Industrials, and Financial Services, each representing 14%-16% of assets [7] - QQQ is heavily concentrated in technology, with over 50% of its portfolio in this sector, and top holdings include Nvidia, Apple, and Microsoft, which together exceed 23% of assets [8][10] Investment Implications - QQQ offers higher growth potential but comes with greater volatility and sector concentration, making it suitable for investors comfortable with risk [12] - RSP provides broader diversification and a higher yield, appealing to income-focused investors and those seeking risk reduction [12]

Group 1 - A group of individuals was arrested for using electronic means to commit property appropriation, specifically through a cryptocurrency scam [1][4] - The scam involved creating a fake trading platform that impersonated the legitimate Nasdaq exchange, misleading victims into investing [2][4] - The group utilized social media platforms like Zalo and Telegram to simulate trading activity and falsely report profits to attract investors [5] Group 2 - Preliminary investigations revealed that the scam operation was organized in Cambodia, with Vietnamese nationals recruited to execute various roles [4] - The total amount swindled from victims is estimated at VND14 billion, with significant losses reported by individual victims [5] - Law enforcement seized substantial evidence during a raid, including cash, electronic devices, and fraudulent materials [6]

Core Viewpoint - The article highlights Amazon as a strong investment opportunity, particularly in the context of the ongoing AI boom and its solid performance in e-commerce and cloud computing [2][4][9]. Industry Overview - The AI market, currently valued at $300 billion, is projected to reach trillions by the end of the decade, indicating significant growth potential for companies involved in AI technologies [2]. - The Nasdaq has seen growth driven by excitement around AI and quantum computing, suggesting a favorable environment for tech stocks [1]. Company Performance - Amazon's stock rose approximately 5% last year, reflecting growth from its AI initiatives and established e-commerce and cloud computing sectors [3]. - Amazon Web Services (AWS) has achieved an annual revenue run rate of $132 billion, benefiting from AI offerings and innovations [6][9]. Investment Appeal - Amazon is positioned as a suitable investment for both aggressive and cautious investors due to its diversified business model and proven growth outside of AI [4]. - The stock is currently trading at about 30 times forward earnings estimates, a decrease from over 50 times in previous years, making it an attractive valuation for investors [7][8]. Future Outlook - The expectation is that Amazon will continue to thrive as a key player in the AI space, with potential for significant stock appreciation as the Nasdaq is predicted to soar in 2026 [2][9].

Core Viewpoint - Nasdaq has received regulatory approval from the U.S. Securities and Exchange Commission to introduce additional options expirations on Mondays and Wednesdays for certain stocks, specifically for Mag-7 shares [2] Group 1 - Nasdaq will now be able to list options contracts that expire on Mondays and Wednesdays, expanding its offerings in the options market [2] - The approval is significant as it allows for more flexibility and trading opportunities for investors in the Mag-7 stocks [2]

Core Viewpoint - Nasdaq (NDAQ) is positioned well to potentially beat earnings estimates in its upcoming quarterly report, supported by a solid history of exceeding expectations [1]. Earnings Performance - Nasdaq has a strong track record of surpassing earnings estimates, particularly in the last two quarters, with an average surprise of 5.51% [2]. - In the last reported quarter, Nasdaq achieved earnings of $0.88 per share, exceeding the Zacks Consensus Estimate of $0.84 per share, resulting in a surprise of 4.76% [3]. - For the previous quarter, the company was expected to report earnings of $0.80 per share but delivered $0.85 per share, yielding a surprise of 6.25% [3]. Earnings Estimates and Predictions - Recent estimates for Nasdaq have been trending upward, with a positive Zacks Earnings ESP (Expected Surprise Prediction), indicating a strong likelihood of an earnings beat [6]. - Stocks with a positive Earnings ESP and a Zacks Rank of 3 (Hold) or better have historically produced a positive surprise nearly 70% of the time, suggesting a high probability of exceeding consensus estimates [7]. - Nasdaq currently has an Earnings ESP of +1.21%, reflecting a bullish sentiment among analysts regarding the company's earnings prospects [8]. Upcoming Earnings Report - The next earnings report for Nasdaq is expected to be released on January 29, 2026 [8].

Market Overview - The stock market performance in 2025 has exceeded expectations, continuing a multi-year rally with positive signs for the year ahead [1] - Inflation measures have significantly decreased from 2022 peaks, with December CPI showing a 0.3% monthly increase and a 2.7% annual increase, both aligning with expectations [1] - Core consumer prices rose 0.2% month-over-month and 2.6% year-over-year, marking the slowest annual inflation pace since March 2021 [2] Corporate Earnings and Economic Factors - A weakening U.S. dollar is positively impacting corporate earnings, and Treasury yields have decreased from their highs, creating favorable conditions for stock performance [3] - The earnings outlook remains strong, supported by a healthy U.S. consumer [7] Semiconductor Industry Insights - Semiconductor stocks, particularly Intel (INTC) and AMD (AMD), are experiencing upward momentum due to robust data center demand and tightening memory supply [8] - AMD has shown remarkable performance, with shares rising nearly 80% in 2025, driven by AI server revenue growth and data center dominance [10] - Intel has undergone a significant turnaround, with shares more than doubling from around $20 to nearly $50, supported by foundry progress and emerging AI PC traction [13] Strategic Developments - AMD's CEO highlighted the transformative scale of AI, predicting over 5 billion active AI users in the next five years, and emphasized the company's focus on AI-skilled roles [11] - Intel's narrative has shifted under the Trump administration's focus on domestic chip manufacturing, with a historic deal granting the U.S. government a 10% equity stake in exchange for $8.9 billion in funding [12] - Nvidia's acquisition of a $5 billion stake in Intel aims to foster joint AI infrastructure development, providing Intel with capital for foundry expansion [15] Future Outlook - The AI server market is in its early stages, with multi-year hyperscaler expansions providing visibility for growth [16]

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Group 1: Momentum Style Score - Nasdaq (NDAQ) currently holds a Momentum Style Score of A, indicating strong potential for momentum investing [3] - The Momentum Style Score is complemented by the Zacks Rank, with Nasdaq rated 2 (Buy), suggesting a favorable outlook for performance [4] Group 2: Price Performance - Over the past week, NDAQ shares increased by 1.63%, while the Zacks Securities and Exchanges industry rose by 2.39% [6] - In a longer timeframe, NDAQ shares have appreciated by 11.88% over the last three months and 30.51% over the past year, outperforming the S&P 500's gains of 6.77% and 21.08% respectively [7] Group 3: Trading Volume - NDAQ's average 20-day trading volume is 3,230,968 shares, which serves as a bullish indicator when combined with rising stock prices [8] Group 4: Earnings Outlook - In the last two months, five earnings estimates for NDAQ have been revised upwards, increasing the consensus estimate from $3.41 to $3.43 [10] - For the next fiscal year, four estimates have also moved higher, with no downward revisions noted [10] Group 5: Conclusion - Considering all factors, NDAQ is positioned as a 2 (Buy) stock with a Momentum Score of A, making it a strong candidate for near-term investment [12]