Core Viewpoint - Sterling Capital Management launched the Sterling Capital Hedged Equity Premium Income ETF (SCEP), which combines artificial intelligence for idea generation and human intelligence for portfolio construction to provide a U.S. equity allocation while employing options strategies for income generation and market protection [1][3]. Fund Overview - The fund began trading on December 12 and currently manages $214.1 million in assets with a management fee of 0.65% [2]. - The ETF structure was chosen for its tax efficiency, intraday trading capability, and lower costs compared to traditional mutual funds [2]. Investment Strategy - SCEP aims to deliver tax-efficient monthly income, better risk-adjusted returns through AI-driven stock selection, and reduced downside risk via protective options trading [3]. - The fund's sub-adviser, Guardian Capital, has utilized AI in equity strategies since 2018 and manages over $4 billion in assets using similar investment processes [3]. AI Utilization - Guardian's AI models forecast key investment variables, including earnings growth and dividend growth, using machine learning and deep learning techniques [4]. - The AI narrows the investment universe to a shortlist of companies with a higher probability of durable earnings and dividend growth [5][6]. Portfolio Composition - The fund's top holdings include Alphabet Inc. (6.37%), Apple Inc. (6.09%), NVIDIA Corp. (5.77%), Microsoft Corp. (5.07%), and Amazon.com, Inc. (4.58%), identified for their strong balance sheets and growth potential [7]. - The fund maintains around 21% exposure to midcap stocks, which may provide better valuations compared to large-cap alternatives [11]. Options Strategy - SCEP employs a dynamic options overlay strategy, writing covered call options on up to 100% of its portfolio to boost income while buying protective put options to cushion against market declines [8][9]. - Protective puts are structured to guard against a 10% to 30% market decline, aiming to protect income-focused investors from large drawdowns [9][10]. Tax Efficiency - The fund's structure seeks to deliver more tax-efficient income by finding losses on individual securities and options to offset gains, potentially allowing for return of capital distributions [13]. - Return of capital distributions are generally not taxable in the year received, deferring taxes until the shares are sold, which may result in a higher capital gain [14][15].

The semiconductor industry’s undisputed leader, Nvidia (NVDA) is reportedly facing delays in releasing its new gaming GPUs. The GPUs were scheduled for release this year, but that has been delayed due to an ongoing supply crunch in the memory segment. If a new gaming GPU is not released this year, it would be the first time in three decades. The company has chosen to focus on memory supply, which is facing a crisis driven by demand for artificial intelligence (AI) accelerators. Nvidia is also cutting pro ...

The market is no longer a one-trick show led by the Magnificent Seven, the group of mega-cap tech giants that have defined U.S. stock performance since the early 2020s. For years, Apple (NASDAQ: AAPL), Microsoft (NASDAQ: MSFT), Alphabet (NASDAQ: GOOGL), Amazon (NASDAQ: AMZN), Nvidia (NASDAQ: NVDA), Meta (NASDAQ: META) and Tesla (NASDAQ: TSLA) set the pace for Wall Street. But now, that dominance is starting to crack as investors look beyond Big Tech for the next source of growth, as highlighted by Bank ...

Core Viewpoint - Direxion Daily S&P 500 Bull 3X Shares (SPXL) and ProShares - Ultra QQQ (QLD) provide leveraged exposure to large-cap U.S. stocks, with SPXL focusing on the S&P 500 and QLD on the tech-heavy Nasdaq-100, leading to distinct risk and return profiles [1][2]. Cost and Size - SPXL has an expense ratio of 0.87%, while QLD's is 0.98% - The one-year return for SPXL is 24.02%, compared to QLD's 19.81% - SPXL offers a dividend yield of 0.67%, significantly higher than QLD's 0.16% - Assets Under Management (AUM) for SPXL is $5.7 billion, while QLD has $10.75 billion [3][4]. Performance and Risk Comparison - The maximum drawdown over five years for SPXL is -63.84%, slightly worse than QLD's -63.78% - An investment of $1,000 would grow to $2,785 in SPXL over five years, compared to $2,128 in QLD [5]. Portfolio Composition - QLD's portfolio consists of 53% technology, 17% communication services, and 13% consumer cyclical stocks, with top holdings including Nvidia (7.08%), Apple (6.83%), and Microsoft (5.15%) [6]. - SPXL's sector mix includes 35% technology, 13% financial services, and 11% communication services, with similar top stocks but smaller individual weights due to its broader diversification [7]. Implications for Investors - Both SPXL and QLD are designed for short-term strategies to amplify daily stock market movements, differing in their exposure levels and sector focus, which influences investment decisions [8].

Group 1: Quantum Computing Market Overview - Quantum computing has seen a decline in popularity recently, with many stocks experiencing a sell-off after a peak in interest in October [1] - Current low interest in quantum computing presents a potential buying opportunity for investors, but a selective approach is necessary due to expected failures in the sector [1] Group 2: Investment Strategies - Investing in legacy tech companies involved in quantum computing can provide good returns while mitigating risk [2] - A suggested strategy is to allocate $1,000 to multiple stocks, particularly in established companies [2] Group 3: Key Players in Quantum Computing - Alphabet is a significant player in quantum computing, with strong resources and successful real-world applications of its Willow chip [3] - Alphabet's involvement in generative AI through its Gemini model adds further value, making it a balanced investment option [4] Group 4: Industry Dynamics - Nvidia is heavily involved in the AI sector, with its GPUs being the leading computing option, but quantum computing could disrupt this infrastructure in the future [5] - Experts suggest that the most effective use of quantum computing will be in a hybrid environment, integrating traditional computing with quantum technology [6]

Core Insights - Direxion Daily Semiconductor Bull 3X Shares (SOXL) and ProShares - Ultra QQQ (QLD) provide leveraged exposure to technology sectors, with SOXL focusing on semiconductors and QLD on the broader Nasdaq-100 [1][2] Cost & Size - SOXL has a net expense ratio of 0.75% and assets under management (AUM) of $13.8 billion, while QLD has a net expense ratio of 0.95% and AUM of $10.2 billion [3] - The one-year return for SOXL is 103.9%, significantly higher than QLD's 20.6% [3] - SOXL offers a dividend yield of 0.4%, compared to QLD's 0.2% [4] Performance & Risk Comparison - SOXL has a maximum drawdown of -90.6% over five years, while QLD's maximum drawdown is -64.6% [5] - An investment of $1,000 in SOXL would grow to $1,586 over five years, whereas the same investment in QLD would grow to $2,146 [5] Portfolio Composition - QLD tracks the Nasdaq-100 with 53% in technology, 16% in communication services, and 13% in consumer discretionary, holding 101 positions with top weights in Nvidia, Apple, and Microsoft [6] - SOXL is entirely focused on the semiconductor industry, with a more concentrated portfolio featuring top positions in Nvidia, Advanced Micro Devices, and Micron Technology [7] Investment Implications - QLD's 2x leverage provides significant upside potential with lower drawdowns compared to SOXL, which offers 3x leverage and higher risk [9] - SOXL may be more suitable for investors specifically targeting semiconductor stocks due to its concentrated exposure [10]

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Market Performance - US stock indices opened lower but rebounded, with the Dow Jones turning positive, the Nasdaq rising approximately 0.8%, and the S&P 500 increasing about 0.5% [1] - Following a significant drop in tech stocks due to AI concerns, technology companies rebounded, contributing to the market's rise ahead of key economic data releases that will influence Federal Reserve policy outlook [2] Company Highlights - Nvidia's stock surged over 3%, while Oracle's stock saw an increase of over 10% [2] - Oracle's stock rise was primarily driven by an upgrade in rating from D.A. Davidson [4] - Applovin Corporation's stock increased by 12.36%, while other notable tech stocks like AMD, Broadcom, and Microsoft also saw gains [3] Capital Expenditure Insights - UBS's Chief Investment Officer David Lefkowitz noted negative market reactions to Amazon and Alphabet's capital expenditure guidance, which was "significantly above" market expectations, overshadowing their strong cloud business growth [5] - Nvidia's CEO Jensen Huang highlighted the "extremely strong" demand for computing power, indicating that the tech industry is justifiably increasing investments in AI infrastructure [5] - Analysts believe that capital expenditures for large-scale cloud providers still have room for growth, with Morgan Stanley reporting that the growth in token processing volume is accelerating cloud revenue for GCP, AWS, and Azure [5] Precious Metals - Spot silver surged over 6%, while spot gold rose nearly 2% [5]

Earnings Overview - More than half of the S&P 500 companies have reported Q4 earnings, with 79% of the 293 companies beating expectations [1] - S&P earnings growth is projected to increase by +8.4% in Q4, marking the tenth consecutive quarter of year-over-year growth [1] - Excluding the Magnificent Seven technology stocks, Q4 earnings are expected to rise by +4.6% [1] Economic Indicators - The Q4 employment cost index is expected to rise by 0.8% [2] - December retail sales are anticipated to increase by +0.4% month-over-month [2] - January nonfarm payrolls are expected to rise by +69,000, with the unemployment rate remaining at 4.4% [2] - January average hourly earnings are projected to increase by +0.3% month-over-month and +3.7% year-over-year [2] - Initial weekly unemployment claims are expected to decrease by -7,000 to 224,000 [2] - January CPI is expected to rise by +2.5% year-over-year [2] Market Movements - The S&P 500 Index is up +0.46%, the Dow Jones is up +0.09%, and the Nasdaq 100 is up +0.61% [6] - Overseas markets are also showing positive movements, with the Euro Stoxx 50 up +0.66% and Japan's Nikkei Stock 225 up +3.89% [7] Sector Performance - Chip makers and AI-infrastructure stocks have rebounded, with Nvidia up more than +3% and AMD, Broadcom, and Western Digital up more than +2% [12] - Mining stocks are performing well, with gold prices up more than +1% and silver prices up more than +6% [13] - AppLovin is up more than +13% after positive client performance news [13] - Oracle is up more than +9% following an upgrade to buy from neutral [14] Company-Specific News - Dynatrace reported Q3 revenue of $515.5 million, exceeding consensus estimates, and raised its full-year revenue forecast [15] - Kyndryl Holdings is down more than -54% after reporting lower-than-expected Q3 revenue and cutting its profit estimate [16] - Hims & Hers Health is down more than -23% after halting sales of a new product [17] - Monday.com is down more than -21% after forecasting lower Q4 revenue [17]

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