Sorry money managers, but there’s another reason to hate ETFs: they’re getting smart. Which isn’t to say that the ETFs you love and trade now are 'dumb'—but they are passive.
Stocks trimmed losses in the final hour of trading to end flat amid mixed earnings and economic news, and ahead of the President's State of the Union speech tonight. AmEx and Bank of America fell, while Wal-Mart rose.
"The intensity of the competition is still as fierce as its every been, there's more of an oligopoly [when a market or industry is dominated by a small number of sellers] that's formed, there's more of a critical mass that's in the business," Cummings said.
Stocks trimmed losses but remained down as technology stocks turned around following a handful of weak earnings reports from major Dow components and on the heels of mixed economic news, and ahead of the President's State of the Union speech tonight.
The best conservative, long-term value stock is American Tower, the global provider of wireless and broadcast towers, Gerald Kaminsky, money manager of Neuberger Berman, and father to Gary Kaminsky, told CNBC on Tuesday.
Stocks slumped modestly despite an unexpected jump in consumer confidence, and amid a slew of big earnings releases, a day after the Dow reached new highs.
Stock index futures pointed to a weaker open on Tuesday as another raft of heavyweight earnings took center stage, with Dow components DuPont, Travelers and Verizon in focus before the opening bell.
*Money managers pull $1.4 bln from COMEX gold in May 14 week. Money managers, including hedge funds, pulled $1.4 billion from the U.S. gold futures market for the week ended May 14 by trimming their net long positions in the metal, according to Reuters calculations of data released by the Commodity Futures Trading Commission.
*Money managers pull $1.4 bln from COMEX gold in May 14 week. Money managers, including hedge funds, pulled $1.4 billion from the U.S. gold futures market for the week ended May 14 by trimming their net long positions in the metal, according to Reuters calculations of data released by the Commodity Futures Trading Commission.