Big Tech's historic gains could be affecting your portfolio's makeup — especially if your goal is diversification.Astoria Portfolio Advisors CEO John Davi warns the S&P 500 index tilts too far in favor of the so-called Magnificent Seven stocks: Apple, Microsoft, Nvidia, Amazon, Meta Platforms, Alphabet and Tesla."Those Mag Seven stocks...
Category: Finance
Nasdaq 100 celebrates 40 years: Is crypto the next big driver for gains?
The tech-driven Nasdaq 100 may be undergoing a historic shift as it turns 40 this week.According to Strategas Securities' Todd Sohn, cryptocurrency companies could fuel the next wave of gains."Bitcoin is to crypto as the QQQ … is to technology type stocks," the firm's exchange-traded fund and technical strategist told CNBC's "ETF Edge" this...
American Express CFO says spending picked up at year-end, thanks to millennials and Gen Z
Silas Stein | Picture Alliance | Getty ImagesAmerican Express' affluent cardholders got comfortable spending more freely again late last year, Chief Financial Officer Christophe Le Caillec told CNBC.Spending on AmEx cards jumped 8% year over year in the fourth quarter after slowing from a 7% growth rate early in the...
Jamie Dimon says Trump’s tariff policy is positive for national security so people should ‘get over it’
JPMorgan Chase CEO Jamie Dimon said Wednesday that the looming tariffs that President Donald Trump is expected to slap on U.S. trading partners could be viewed positively.Despite fears that the duties could spark a global trade war and reignite inflation domestically, the head of the largest U.S. bank by assets...
Trump and bitcoin: BlackRock predicts another historic year for crypto
Bitcoin should rip higher under President-elect Donald Trump, according to BlackRock's ETF chief.Samara Cohen, the firm's ETF and index instruments chief investment officer, thinks cryptocurrency deregulation will "absolutely" propel bitcoin to another historic year."There will be progress made on… FIT21 ["Financial Innovation and Technology for the 21st Century Act.] There will...