Getty Images By Mike Larson At the 2026 MoneyShow Las Vegas, I sat down with Ophelia Snyder, co-founder of 21Shares, and Andrew McCormick, head of eToro US, to break down what’s really happening in crypto — and where the industry is headed next. Transcript Mike Larson: Hi there. I'm Mike Larson, Editor in Chief with MoneyShow, and I'm coming to you from the MoneyShow Las Vegas. Today, I'm speaking...
Getty Images By Mike Larson At the 2026 MoneyShow Las Vegas, I sat down with Ophelia Snyder, co-founder of 21Shares, and Andrew McCormick, head of eToro US, to break down what’s really happening in crypto — and where the industry is headed next. Transcript Mike Larson: Hi there. I'm Mike Larson, Editor in Chief with MoneyShow, and I'm coming to you from the MoneyShow Las Vegas. Today, I'm speaking with Ophelia Snyder, co-Founder of 21Shares; and Andrew McCormick, Head of eToro U.S. Thank you so much for taking some time out to chat. Andrew McCormick: My pleasure. Ophelia Snyder: Thanks for having us. Mike Larson: Yeah. It's been great. I mean, it was wall-to-wall in here. People were really engaged with the information that you had to share and so where we are in this crypto universe, I guess, for lack of a better word. So, Andrew, why don't we start with you? Talk a little bit about some of the developments you're seeing, some of the volatility we've seen recently, and what thoughts you share with the audience here? Andrew McCormick: Yeah. It's an incredible time. It's an exciting time. There's never any boredom in the world of crypto. This year and last year is all about institutions plowing into the space. And as I shared during a panel earlier, I've been in this space for about nine years, and I was actually on Wall Street talking about crypto, and people thought I was crazy. What are you talking about? We can't touch this space. Is it legal? What does it mean? And now these same firms are investing in the space billions and billions. They're on Capitol Hill trying to develop a framework, and it's exciting. And we've seen about 50% or so decrease in price in Bitcoin ( BTC-USD ) in the past few months, right? But I've lived through quite a few of those drops and if you zoom out and you think, okay, our drop now is to 67,000. A few years ago, the drop was 13. A few years ago, the drop was 3,000. And so, markets go up, markets go down, but trajectory of the space, ...
Chicago is set to test the municipal bond market as war in the Middle East upends global markets . The third-largest US city is scheduled to sell $800 million in general obligation debt Tuesday, on the heels of a downgrade from Fitch Ratings. That includes $508 million taxable and $292 million tax-exempt, according to bond documents dated Feb. 27. Since then, the Iran war has pushed oil prices to ...
Chicago is set to test the municipal bond market as war in the Middle East upends global markets . The third-largest US city is scheduled to sell $800 million in general obligation debt Tuesday, on the heels of a downgrade from Fitch Ratings. That includes $508 million taxable and $292 million tax-exempt, according to bond documents dated Feb. 27. Since then, the Iran war has pushed oil prices to new highs, and rattled stocks and bond prices, even extending to state and local government debt. Yields for benchmark 10-year municipal debt rose Monday for a sixth-straight session in lock step with US Treasuries as higher energy costs stoke inflation concerns, according to data compiled by Bloomberg. While muni bonds are typically seen as a safe haven for investors, debt sold by borrowers with ratings below benchmark securities carry greater risks. Chicago’s 10-year bond yields have widened more than the broader market as the city’s financial stress mounts. The average yield on long-dated Chicago bonds this month has jumped 23.6 basis points to above 4%, compared with the benchmark rising about 18 basis points to 2.65%, data show. “The market is definitely getting a little tougher for deals with all the rate volatility,” said Ryan Ciavarelli , senior vice president for credit research at Belle Haven Investments . “We will be watching the deals closely this week to see how they are placed in the market and if there are any concessions needed to secondary trading levels.” Read More: Muni Bonds See Biggest Decline Since Tariff Fueled-Selloff Last week, at least one bond sale for a school district in California was delayed. Meanwhile, some corporate borrowers are choosing to stand down until markets offer better pricing. “With the Treasury market not performing great, it makes pricing uncertain and harder to set for the underwriters,” said Dan Solender , head of municipal investments at Lord Abbett & Co . “Fund flows are holding up so far, but investors have to watch the ton...
S&P 500 companies' quarterly earnings growth accelerated compared with data up until a week ago, clo Upgrade to read this MT Newswires article and get so much more. A Silver or Gold subscription plan is required to access premium news articles.
S&P 500 companies' quarterly earnings growth accelerated compared with data up until a week ago, clo Upgrade to read this MT Newswires article and get so much more. A Silver or Gold subscription plan is required to access premium news articles.
baona Sturm, Ruger & Co. ( RGR ) and Beretta Holding are locked in a high‑stakes proxy fight ahead of the Sturm, Ruger ( RGR ) annual meeting after Beretta, now Ruger’s largest shareholder, moved to nominate four directors to Ruger’s board at the 2026 annual meeting. Last month, Beretta disclosed a 9.95% stake in Ruger and nominated four independent nominees for the company's board, arguing that y...
baona Sturm, Ruger & Co. ( RGR ) and Beretta Holding are locked in a high‑stakes proxy fight ahead of the Sturm, Ruger ( RGR ) annual meeting after Beretta, now Ruger’s largest shareholder, moved to nominate four directors to Ruger’s board at the 2026 annual meeting. Last month, Beretta disclosed a 9.95% stake in Ruger and nominated four independent nominees for the company's board, arguing that years of weak performance and poor capital allocation require new oversight. Ruger responded that Beretta is a direct competitor seeking “disproportionate representation” and effective control, highlighting Beretta’s demands for up to 25% ownership, special voting rights, and a Beretta executive on the board, which Ruger argues could raise antitrust and national security concerns and trigger CFIUS review. In a defensive move, Sturm, Ruger ( RGR ) adopted a limited‑duration shareholder‑rights plan last year to prevent what it calls a creeping foreign takeover. The company also refreshed its board with several new independent directors. Sturm, Ruger ( RGR ) said it has made multiple good-faith and constructive proposals to Beretta that were designed to avoid a costly and distracting proxy contest and allow the company to remain focused on executing its strategy. Those proposals were said to be carefully structured to preserve Sturm, Ruger's ( RGR ) independence as a public company and ensure compliance with applicable antitrust and national security laws. The proposals would have permitted Beretta to increase its ownership position up to a cap, designate directors, and explore opportunities for true commercial collaboration. However, the company maintains that Beretta repeatedly advanced extreme demands and threatened to "go to war" if those demands were not met Historically, Sturm, Ruger ( RGR ) and Beretta have competed across key handgun and long‑gun categories, but until 2025 they had no significant ownership linkage. Beretta’s initial position in Sturm, Ruger of 7.7% was ...
Phiwath Jittamas/iStock via Getty Images Investment thesis For many investors, spring has been a difficult start, the economic backdrop is turbulent, the news feeds are flooded with various reports, and everything from domestic political battles to events in Iran. Even though the S&P 500 only lost 1.14% in value over the week, some assets took a serious hit. Besides the skeptics who keep saying th...
Phiwath Jittamas/iStock via Getty Images Investment thesis For many investors, spring has been a difficult start, the economic backdrop is turbulent, the news feeds are flooded with various reports, and everything from domestic political battles to events in Iran. Even though the S&P 500 only lost 1.14% in value over the week, some assets took a serious hit. Besides the skeptics who keep saying that the AI bubble is about to burst, new issues related to private lending have popped up. The CLO funds faced problems caused by rising default rates and increased credit risks. First, Blue Owl Capital ( OWL ) sold its $1.4 billion loan portfolio , and then BlackRock ( BLK ) imposed restrictions on withdrawals from its private lending fund , both of which can only be seen as signs of serious problems in this area. All this is in addition to the fact that the start of military operations in Iran caused spot oil prices ( CL1:COM ) to rise by 27.91% over the week. Furthermore, on Friday, labour market data was published showing that the unemployment rate had increased to 4.4% and that the number of jobs created was lower than the number of jobs lost (by 92,000 in February). And that's even though wages are going up, so with oil prices pushing up energy costs, there's a growing risk of inflation. The sole purpose of listing these fundamental factors is to emphasize the complexity of the current period. The more often I hear such news, even if it's about the higher chance of the US continuing/increasing trade protectionism and localizing not only production but also consumption of American IT products (I'm talking about the possible restrictions on exporting Nvidia and AMD chips, though this news was later denied ), I become more and more aware that it is worth being more cautious in forming my personal investment portfolio in 2026, and that, at the very least, the share of growth-oriented assets should be reduced. Even high-yield instruments, such as BDC stocks, only lead me to...
NY Fed: Inflation Expectations Dropped To 1 Year Low Ahead Of Iran War Amid Improving Household Finances While the latest NY Fed consumer expectations report shows sentiment from February, and does not account for the surge in oil prices as a result of the Iran war, the trend continues to be supportive which would be good news for the US economy if the current energy price spikes proves to be tran...
NY Fed: Inflation Expectations Dropped To 1 Year Low Ahead Of Iran War Amid Improving Household Finances While the latest NY Fed consumer expectations report shows sentiment from February, and does not account for the surge in oil prices as a result of the Iran war, the trend continues to be supportive which would be good news for the US economy if the current energy price spikes proves to be transitory. In what was the calm before the Persian Gulf storm, Americans’ inflation expectations eased further back in February amid mixed views on the state of the job market and current and future finances. Specifically, the expected level of inflation a year from now dropped to 3% from 3.1% in January, and the lowest since the start of 2025 while the projected level of inflation three and five years from now held steady at 3%. The New York Fed survey, released Monday, was conducted between February 2-28. As such, it does not capture the public’s reaction to surging oil prices that are the result of the Iran war, which has massively disrupted global energy supplies and sent crude over $100. Huge increases seen thus far in energy prices are almost certain to drive up already high levels of overall inflation and stand a good chance of pushing the public toward a less benign view on the outlook for price pressures over coming years, assuming the price increase sticks and there is no prompt resolution to the war. That would present a challenging environment for the Fed, which has been contending with high levels of inflation for years, the result of its post-covid policy error which has pushed inflation above the Fed's 2% target for 60 moinths. Officials agree that where price pressures are expected to go exerts a strong influence on where they stand now, so if the oil shock creates expectations of higher price pressures, that could complicate efforts to get inflation back to target. Then again, the Fed has traditionally ignored one-time shocks which suggests that the I...
A senior former Mail on Sunday journalist has denied commissioning a “blag” of sensitive medical information about Sadie Frost that the actor had not even told her own mother. At the high court, Katie Nicholl, a former diary editor and royal editor at the paper, was accused of using blagged information from a private investigator to uncover “extraordinarily intrusive” details of Frost’s medical hi...
A senior former Mail on Sunday journalist has denied commissioning a “blag” of sensitive medical information about Sadie Frost that the actor had not even told her own mother. At the high court, Katie Nicholl, a former diary editor and royal editor at the paper, was accused of using blagged information from a private investigator to uncover “extraordinarily intrusive” details of Frost’s medical history. Frost is one of a group of seven people, including Prince Harry, alleging that Associated Newspapers Ltd (ANL), which publishes the Mail on Sunday and the Daily Mail, used unlawful information gathering such as blagging, hacking and phone tapping to obtain stories over two decades. ANL denies all the accusations of wrongdoing, describing them as lurid and preposterous. Nicholl is a significant figure in the case, as her name appears on many of the stories that Frost, the Duke of Sussex and others have complained about. David Sherborne, the lead barrister for the claimants, spent a lot of time focusing on a passage in Nicholl’s notebook referring to Frost’s ectopic pregnancy. Nicholl prepared the story in autumn 2003 but it was never published. Frost’s legal team said she did not tell her sisters or even her own mother about the pregnancy and subsequent termination. Nicholl wrote in her notebook: “Sadie Frost: Had some note re: Ultrascan. Yes, she is having that kind of treatment. She went for an ultrasound. She is pregnant.” It also identified Frost’s doctor and said “she was recently treated in March Aug. 6 saw psychologist”. Sherborne said there was a reference in the margin to “Susie”, which he said was a reference to Susie Mallis from the private investigation firm ELI. The claimants also point to ELI payment notes days later, labelled “Katie Nicholls Urgent Enq” and “K Nicholl’s Searches”. Sherborne put it to Nicholl that her notes documented “an obvious medical blag” of Frost’s records. But Nicholl said she had never asked anyone to blag medical records and did...
alexsl/iStock via Getty Images The biggest of big companies have been stuck in neutral over the past half-year. The Invesco S&P 500 Top 50 ETF ( XLG ) now trades with a forward price-to-earnings ratio of just 23.74x, according to Invesco as of the end of February. Given losses to kick off March, that earnings multiple is now even lower—perhaps near 23x. It’s getting harder to pass up the "GARP" se...
alexsl/iStock via Getty Images The biggest of big companies have been stuck in neutral over the past half-year. The Invesco S&P 500 Top 50 ETF ( XLG ) now trades with a forward price-to-earnings ratio of just 23.74x, according to Invesco as of the end of February. Given losses to kick off March, that earnings multiple is now even lower—perhaps near 23x. It’s getting harder to pass up the "GARP" seen in what has traditionally been a premium-P/E ETF. Today, I’m upgrading XLG to a buy. I had a tactical sell rating on the fund in early 2024 , expecting a February-March dip. That never happened, but it appears we are getting on this go-round. I’ll offer a look at the valuation & holdings, along with an updated view of the technicals. XLG Lags the Most Among Major Equity ETFs since August Stockcharts.com Biggest US Stocks Have Re-Rated vs Large Stocks JPMAM P/E Gap Narrowing Between Megacaps and Large Caps Yardeni According to the issuer , XLG is based on the S&P 500 Top 50 Index, and the fund will invest at least 90% of its total assets in securities that comprise that index. The index houses 50 of the largest companies in the S&P 500. The ETF and the index are rebalanced annually. XLG is a large ETF with $11.2 billion in assets under management as of March 7, 2026. That’s up from just $3.4 billion at the time of my previous analysis in February 2024. You’ll see later that the fund’s volume has increased tremendously, too. The annual expense ratio is somewhat low at 20 basis points, while the trailing 12-month dividend yield is low at only 0.67%--about half a percentage point below that of the S&P 500. Share-price momentum is rated well by Seeking Alpha’s quantitative scoring system, but I’ll demonstrate later that, along with relative weakness to both US and global equities since Q4 2025, its absolute momentum has waned. What’s more, XLG is risky , given its concentrated portfolio and high weighting to the growth-heavy Information Technology sector and other “TMT” areas...
Vertigo3d/E+ via Getty Images Fund performance The Fund returned 4.50% (on a net asset value basis) for the three-month period ending 31 January 2026, underperforming the 4.83% return of its benchmark, the FTSE EPRA Nareit Global Index (Net). Sector wise, diversified and office REITs weighed on the Fund's relative performance, while the specialty and self-storage sectors were positive. 1 At the st...
Vertigo3d/E+ via Getty Images Fund performance The Fund returned 4.50% (on a net asset value basis) for the three-month period ending 31 January 2026, underperforming the 4.83% return of its benchmark, the FTSE EPRA Nareit Global Index (Net). Sector wise, diversified and office REITs weighed on the Fund's relative performance, while the specialty and self-storage sectors were positive. 1 At the stock level, Kilroy Realty Corporation ( KRC ) detracted from performance. While the company made progress leasing vacant space in the period, concerns about the longer-term impact of AI on office demand led to underperformance of its shares. Not holding Sun Hung Kai Properties ( SUHJY ) was also unfavorable as the company benefitted from a favorable interest-rate environment. Meanwhile, SmartStop Self Storage REIT ( SMA ) was weak due to continued pricing pressures for new move-in rents in the storage sector. Additionally, technical issues in the market, where the lockup for pre-initial-public-offering shareholders in the company created a liquidity event for these long-time investors, affecting its stock. Conversely, National Storage REIT ( NSA ) contributed to performance as the company received a takeover offer at a significant premium to the stock's previous trading price. Non-exposures to Iron Mountain ( IRM ) and VICI Properties ( VICI ) were also favorable as both companies significantly underperformed during the period. Iron Mountain lagged due to questions about the profitability of data-center leases in the long term, despite record levels of demand. Meanwhile, the lower rate of inflation reduced rate increases for several of VICI's largest casino leases. Cumulative and annualized total return as of January 31, 2026 (%) NAV Market Price FTSE EPRA Nareit Global Net Index 10 Years (p.a.) 5.44 8.02 4.04 5 Years (p.a.) 2.53 4.81 3.16 3 Years (p.a.) 5.57 8.50 4.80 1 Year 11.78 12.10 12.77 Year to Date 3.19 3.67 4.00 3 Months 4.50 4.74 4.83 1 month 3.19 3.67 4.00 Click t...
Supatman/iStock via Getty Images Guidewire Software, Inc. ( GWRE ) recently reported the company’s fiscal Q2 results for the November-January period. The P&C insurance software company’s growth momentum remains great, driven by new clients and revenue expansion within the current client base. The quarter leaves a good growth outlook for the rest of FY2026; meanwhile, profitability is expected to s...
Supatman/iStock via Getty Images Guidewire Software, Inc. ( GWRE ) recently reported the company’s fiscal Q2 results for the November-January period. The P&C insurance software company’s growth momentum remains great, driven by new clients and revenue expansion within the current client base. The quarter leaves a good growth outlook for the rest of FY2026; meanwhile, profitability is expected to show a slight hiccup. I maintained a Sell rating in my previous December 2025 article on the stock, titled “ Guidewire Software: Valuation Remains The Pain Point As Growth Continues. ” The stock has since lost -21% of its value as part of a larger software sector selloff. The S&P 500 ( SP500 ) has lost -2% in the same period. My Rating History on GWRE (Seeking Alpha) Guidewire Q2 Review: Another Good Quarter Guidewire’s fiscal Q2 was another successful quarter for the company. Revenues came in at $359.1 million with 24% year-on-year growth, exceeding the company’s own $339-345 million guidance range and beating Wall Street’s consensus by $16.2 million as a result. Behind the fast growth, Guidewire managed to grow ARR by 22% year-on-year and by 5% sequentially to $1121 million, showing a great increase in the predictable revenue stream. License revenues declined by -7% to $59.5 million. Meanwhile, subscription and support revenues grew by 33% to $237.2 million, and service revenues grew by 30% to $62.4 million. GWRE Q2'FY26 Investor Presentation The company notes three customer wins and a number of customer migrations and expansions during the quarter that drove good growth in ARR. New deals have become larger and come with longer durations, creating higher value for Guidewire. Guidewire managed to sign the first PricingCenter deal during Q2, but the new solution's potential is still mostly hidden in KPIs; shifting onto Guidewire's pricing solution is a major decision for insurance companies, requiring a long deal cycle. Earnings call comments suggest that ongoing talks are g...
Britain is likely to be hit by rising inflation because of the US war with Iran, the UK chancellor has said, as she suggested that a “rapid de-escalation” would be the best protection against a jump in energy prices. Both Rachel Reeves and the prime minister, Keir Starmer, suggested the government would be prepared to intervene to protect UK households against major cost-of-living shocks as oil pr...
Britain is likely to be hit by rising inflation because of the US war with Iran, the UK chancellor has said, as she suggested that a “rapid de-escalation” would be the best protection against a jump in energy prices. Both Rachel Reeves and the prime minister, Keir Starmer, suggested the government would be prepared to intervene to protect UK households against major cost-of-living shocks as oil prices surged past $100 (£75) a barrel for the first time since 2022. Starmer said a long-term US-Iran war would affect the “lives and households of everybody” but said the government would seek to “get ahead” if the conflict were prolonged. Ministers are understood to be looking at ways to potentially mitigate the rising costs on energy bills – and are likely to come under pressure to cancel a planned 5p rise in fuel duty this autumn. Reeves, who spoke to G7 finance ministers earlier on Monday, said the Treasury was ready to support a coordinated release of collective International Energy Agency oil reserves. “I will take the necessary decisions to help families with the cost of living and protect the public finances,” Reeves told MPs. “I am clear-eyed about my response to the current situation. My economic approach will both be responsive to a changing world and responsible in the national interest.” The chancellor said discussions would also be held on mitigations for families reliant on heating oil who did not have protection via the energy price cap. Petrol forecourt bosses have also been called into the Treasury and warned about price gouging. Edmund King, the president of the AA, said drivers should not change their refuelling habits but could “consider cutting out some non-essential journeys and changing their driving style to conserve fuel”. Simon Williams, the RAC’s head of policy, said pump prices had “rocketed” in the last week. “Petrol is up 5p to 137.5p and diesel up 9p to 151p a litre since the current crisis began,” he said. “Unleaded is almost certainly going...
Guido Mieth/DigitalVision via Getty Images Around the middle of December of last year, I decided to upgrade shares of Peoples Financial Services ( PFIS ) from a "Hold" to a "B uy." This decision was not made lightly. It was based specifically on improved valuation and strong financial performance that the company had exhibited leading up to that point. Certain credit quality metrics were looking p...
Guido Mieth/DigitalVision via Getty Images Around the middle of December of last year, I decided to upgrade shares of Peoples Financial Services ( PFIS ) from a "Hold" to a "B uy." This decision was not made lightly. It was based specifically on improved valuation and strong financial performance that the company had exhibited leading up to that point. Certain credit quality metrics were looking positive, and asset quality was strong. My decision to upgrade the stock has played out nicely. While the S&P 500 is up 0.2% since then, shares of this bank have risen 7.9%. And honestly, I could see the picture getting even better. Admittedly, not every metric is as great as I would like it to be. But on the whole, this is a cheap way to play the banking sector without sacrificing too much when it comes to quality. Therefore, I think that maintaining it as a soft "Buy" is the right choice here. The Picture is Still Solid The newest data that investors have right now when it comes to Peoples Financial Services covers through the final quarter of the company's 2025 fiscal year . According to management, deposits came in for the year at $4.43 billion. That is up ever so slightly from the $4.41 billion that the company had in 2024. At first glance, this might not seem impressive. However, the institution has actually been growing organic deposits at a pretty nice rate. We can see this when we strip out brokered deposits. At the end of 2024, for instance, the company had brokered deposits of $256.4 million. But that number subsequently dropped to $152.2 million at the end of last year. This decline is positive in and of itself since brokered deposits are high-cost deposits relative to what organic deposits typically cost. This move lower was deliberate by management. They specifically said in their quarterly release that they reduced brokered deposits intentionally. Author - SEC EDGAR Data This does not mean that I like everything that I see when it comes to the deposit situatio...
伊朗局勢|德黑蘭稱預備長期作戰 特朗普:戰事很快結束 To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video 【有線新聞】美國總統特朗普聲稱攻擊伊朗的行動可能大致完成,相信很快結束。 首都德黑蘭凌晨再有建築遇襲冒出火光,特朗普指已攻擊...
伊朗局勢|德黑蘭稱預備長期作戰 特朗普:戰事很快結束 To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video 【有線新聞】美國總統特朗普聲稱攻擊伊朗的行動可能大致完成,相信很快結束。 首都德黑蘭凌晨再有建築遇襲冒出火光,特朗普指已攻擊逾5,000個目標,51艘伊朗船艦被炸毀或受損,認為美軍進度超出預期,從多方面取得勝利,但稱仍未足夠,會繼續行動直至徹底擊敗伊朗,又聲稱若美國和以色列不發動襲擊,伊朗將接管中東地區。伊朗革命衛隊發射導彈還擊,最高領袖外交政策顧問哈拉齊接受美國有線新聞網絡(CNN)訪問時聲稱現時沒有空間透過外交化解衝突,已預備好長期作戰。
hapabapa/iStock Editorial via Getty Images Charles Schwab ( SCHW ) said on Monday that the Schwab Trading Activity Index, or STAX, increased to 57.32 in February from 49.96 in January. STAX analyzes retail investor stock positions and trading activity from Schwab's client accounts to illuminate what investors were actually doing and how they were positioned in the markets each month. The February ...
hapabapa/iStock Editorial via Getty Images Charles Schwab ( SCHW ) said on Monday that the Schwab Trading Activity Index, or STAX, increased to 57.32 in February from 49.96 in January. STAX analyzes retail investor stock positions and trading activity from Schwab's client accounts to illuminate what investors were actually doing and how they were positioned in the markets each month. The February score represents the biggest month-over-month percentage gain since late 2020. "The trading behavior we saw among our retail clients tells a clear story: the AI-driven panic that rattled the markets in February was likely overblown and, more than anything, may have represented an opportune time to pick up some names that had taken a perhaps unfair beating," said Joe Mazzola, head trading and derivatives strategist at Charles Schwab. Last month, more affluent and older investors led the buying activity among Schwab clients. Popular names bought include Amazon.com ( AMZN ), Microsoft ( MSFT ), NVIDIA ( NVDA ), Palantir Technologies ( PLTR ), and Netflix ( NFLX ). Names net sold included Meta Platforms ( META ), Apple ( AAPL ), Verizon Communications ( VZ ), Costco Wholesale ( COST ), and AT&T ( T ). More on Charles Schwab Buy Shares Where You Invest: Charles Schwab Charles Schwab: Why We Trimmed Modestly Charles Schwab: Expect Higher Capital Returns In 2026 SA Asks: Which financial stocks could be hit hard by AI? Charles Schwab records 18% Y/Y rise in January-end client assets
Algorithmic traders, the speculators known for riding trends and accelerating price momentum, have maxed out on bullish US oil bets for the first time in more than four years — a move that’s likely to add more volatility to a market being rocked by the war in Iran. The money managers known as commodity trading advisers, or CTAs, have driven up their bullish tilt and were sitting at 100% long in We...
Algorithmic traders, the speculators known for riding trends and accelerating price momentum, have maxed out on bullish US oil bets for the first time in more than four years — a move that’s likely to add more volatility to a market being rocked by the war in Iran. The money managers known as commodity trading advisers, or CTAs, have driven up their bullish tilt and were sitting at 100% long in West Texas Intermediate and Brent crude futures as of Monday morning, according to data from Kpler. That compares with 82% on Friday, data from the analytics firm show. It’s the first time the trading cohort has reached a maximum long holding in US crude since September 2021, when the position persisted for 26 trading sessions. In Brent, it’s the first time since April 2024. CTAs have emerged as a dominant market force in recent years, making up an outsize portion of trading volumes and intensifying periods of heightened volatility. On Monday, the WTI market saw wild moves. Prices surged as much as 31% to reach $119.48 a barrel during the Asian trading session. The rally was driven by concerns that a standstill of tanker traffic through the vital Strait of Hormuz will choke off supplies to the rest of the world. But by midday US hours, futures pared most of the massive gains as the world’s largest economies consider a co-ordinated release of emergency oil stockpiles. WTI was 4.8% higher at $95.30 as of 1:15 p.m. in New York. While supply-and-demand fundamentals are currently the primary driver behind price moves amid the Iran war, the strong positioning by algo traders can exacerbate momentum. Meanwhile, the max long position also means that the market could be vulnerable to a massive unwind of the trade if there’s evidence of easing supply risks that sparks a leg lower. Money managed by CTAs can sometimes be slower to respond to shifts in fundamentals. Some trading strategies adjust positioning based on weekly, rather than daily, price signals, helping to explain why algo tr...