Core Insights - Financial Engines Advisors sold $127 million worth of iShares Future Exponential Technologies ETF (XT), but the portfolio allocation actually increased due to the ETF's rising share price [1][9][10] Group 1: Transaction Details - Financial Engines Advisors reduced its stake in iShares Future Exponential Technologies ETF by selling 1,452,015 shares during Q3 2025, resulting in a decrease of the fund's position value by $127.13 million [2] - After the sale, the ETF accounted for 4.55% of Financial Engines' $52.39 billion in reportable U.S. equity assets [2] Group 2: ETF Performance - As of December 4, 2025, shares of the ETF were priced at $74.89, reflecting a 21% increase over the past year, outperforming the S&P 500 by 13 percentage points [3] - The ETF has a market capitalization of $3.63 billion and a one-year total return of 20.89% [4][8] Group 3: ETF Characteristics - iShares Future Exponential Technologies ETF provides broad exposure to companies at the forefront of transformative technologies worldwide [5] - The ETF employs a rules-based investment approach, appealing to both institutional and individual investors seeking long-term growth [7][8] Group 4: Financial Engines' Positioning - Despite the sale, XT remains the 7th-largest position in Financial Engines' portfolio, indicating a strategic decision rather than a complete divestment [9] - The portfolio allocation for XT actually grew from 4.5% to 4.6% over the last quarter due to the ETF's rising share price [9][10]

Market Overview - Wall Street is experiencing volatility due to concerns over high valuations in the artificial intelligence (AI) sector, leading to increased caution among investors amid economic uncertainty [1] - The European Central Bank (ECB) has highlighted that global equities remain elevated, particularly among major U.S. hyperscalers like NVIDIA, Alphabet, Microsoft, and Meta [2] Concentration Risks - The "Magnificent 7" companies (Alphabet, Amazon, Apple, Tesla, Meta, Microsoft, and NVIDIA) have seen a 24% increase year-to-date and account for 40% of the Morningstar U.S. Index, raising concerns about concentration risk [3] - Morningstar strategist Michael Field has indicated that this concentration is risky due to the companies' collective reliance on AI [3] Valuation Insights - Tesla is identified as being overvalued by more than 50%, while ARM Holdings is trading at approximately 90 times expected 2026 earnings, indicating stretched valuations [4] - The ECB, alongside the Bank of England and the IMF, has called for caution regarding high valuations in AI stocks, although strong earnings are seen as a supportive factor [5] Earnings Performance - For the Magnificent 7, Q3 earnings are projected to increase by 26.9% year-over-year, with revenues up by 17.6%, following a previous quarter's growth of 26.4% in earnings and 15.5% in revenues [6] - Excluding the Magnificent 7's contributions, the S&P 500 index's Q3 earnings would only rise by 9.9%, compared to a 14.8% increase when including the group, highlighting the strong earnings momentum of these AI-heavy companies [7] Future Earnings Expectations - Total earnings for the Magnificent 7 are expected to grow by 21.0% in 2025, with revenues increasing by 11.6%, while the remaining S&P 500 companies are projected to see an 8.1% earnings growth [8] - The Magnificent 7 is anticipated to contribute 25.3% of total index earnings in 2025 and 26.6% in 2026 [8] Market Sentiment - Morningstar strategist Michael Field advises against panic-selling but emphasizes the importance of being aware of risks [9] - Wedbush analyst Dan Ives remains optimistic, suggesting that the market is not in a bubble and expects the tech bull market to continue for at least two more years [9] Investment Focus - Investors are encouraged to monitor various ETFs, including iShares U.S. Technology ETF (IYW), Fidelity MSCI Information Technology Index ETF (FTEC), and Global X Artificial Intelligence & Technology ETF (AIQ) among others [10]

Core Insights - AI-driven shopping tools significantly increased U.S. online spending during Black Friday, with consumers opting for online platforms over physical stores due to budget constraints and tariff concerns [1] - U.S. online shoppers spent a record $11.8 billion, marking a 9.1% increase from 2024, as reported by Adobe Analytics [1] - E-commerce sales grew by 10.4%, outpacing in-store sales which only saw a 1.7% increase, according to Mastercard SpendingPulse [2] E-Commerce Performance - Online demand surged, with AI-driven traffic to U.S. retail websites increasing by 805% year-over-year [2] - Popular purchases included LEGO sets, Pokémon cards, Nintendo Switch, PS5 consoles, and Apple AirPods [2] - Globally, AI agents contributed to $14.2 billion in online Black Friday sales, with the U.S. accounting for $3 billion [3] Future Projections - Cyber Monday is expected to continue the spending trend, with projections of $14.2 billion in sales, a 6.3% increase year-over-year [4] Consumer Behavior - Despite increased spending, consumers purchased fewer items per order due to rising prices and inflation concerns [5] - Discount levels remained flat compared to 2024, limiting retailers' ability to offer significant promotions [5] - Shoppers expressed caution regarding overspending amid ongoing inflation and a soft labor market [5] Investment Opportunities - Several AI-based exchange-traded funds (ETFs) are highlighted as potential investment opportunities, including iShares U.S. Technology ETF (IYW), Global X Artificial Intelligence & Technology ETF (AIQ), and others [6]

The Nasdaq Composite slipped 0.84% on Nov. 17, 2025, as major technology names came under pressure. Artificial intelligence (AI) behemoth NVIDIA NVDA slid about 2%. NVIDIA is likely to report on Nov. 19, 2025, after market close.Note that bubble concerns in AI stocks have been interrupting the market momentum for quite some time now. Alphabet shares, however, rose about 3% on Nov. 17, thanks to news that Berkshire Hathaway has taken a stake (read: Is Alphabet Berkshire's New "Mag-7" Favorite? ETFs in Focus) ...