President Donald Trump said on Monday that China is ready to come back to the negotiating table and the two countries will start talking very seriously.Politicsread more
The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
Futures fell after Trump said the U.S. will raise tariffs on more than $500 billion worth of Chinese imports, increasing trade tensions.Marketsread more
As Washington and Beijing continue to up the ante in their protracted trade fight, the potential of a recession in the U.S. is now "the biggest concern," according to Standard...US Economyread more
Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
China said Friday it will be resuming 25% duties on U.S. autos, and a further 5% on auto parts and components.Asia Marketsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Education Minister Ong Ye Kung says the Singapore government has been preparing for the challenge of an aging workforce "for the past 20 years."Employmentread more
An unprecedented effort to create funds that would have delivered four times the return of the S&P 500 has run into a regulatory roadblock.
The Securities and Exchange Commission earlier this month approved an application from ForceShares that would have created the two exchange-traded offerings — the ForceShares Daily 4X US Market Futures Long Fund and ForceShares Daily 4X US Market Futures Short Fund.
The funds would use derivatives to represent four times the gains or losses of the futures contract, and the respective
However, some market participants complained that the funds were risky and could cause unwitting buyers to sustain major losses.
In an unusual move, the SEC commissioners are reviewing the approval that came from staff members and could shoot down the funds, according to a report in The Wall Street Journal. The three-member commission also could uphold the decision, though the move to review the staff approval could signal trouble for the funds.
"It's unusual for them to come out and say all of a sudden that they're going to review something that was approved," Joe Saluzzi, a principal at Themis Trading, told CNBC. "I think it was the public reaction to the approval. Everyone was like, 'Are you kidding me?' The SEC is saying, 'let's put this out to comment.'"
Themis has been vocal in its opposition to the funds on the grounds that they add risk to the market and could give rise to other products that use even more leverage.
"Hopefully, people will comment," Saluzzi said. "It's a good thing that they stopped it. You can bet there
The ForceShares application has come under fire for other reasons, including regulatory disclosures that the managers of the fund have little experience and have a small staff for operating complicated funds. Representatives of the company could not be reached for comment.
Leveraged ETFs are not unusual, with some 273 in the market that offer two and three times the moves of various indexes and asset classes, according to XTF data cited by the Journal.
The best performer of the past 12 months, in fact, has been the Direxion Daily Semiconductor Bull 3X Shares, which provides three times the gains of the semiconductor sector and is up 328 percent.