Nastco/iStock Editorial via Getty Images By Yaroslav Dmytrenko Bitcoin ( BTC-USD ) fell below $66,000 on Friday after hotter-than-expected U.S. producer inflation data triggered a broad sell-off in technology stocks. Rate cut hopes fade U.S. macroeconomic data released Friday showed that the Producer Price Index (PPI) rose 0.5% month-over-month in January, exceeding expectations of 0.3%. Core PPI,...
Nastco/iStock Editorial via Getty Images By Yaroslav Dmytrenko Bitcoin ( BTC-USD ) fell below $66,000 on Friday after hotter-than-expected U.S. producer inflation data triggered a broad sell-off in technology stocks. Rate cut hopes fade U.S. macroeconomic data released Friday showed that the Producer Price Index (PPI) rose 0.5% month-over-month in January, exceeding expectations of 0.3%. Core PPI, which excludes volatile food and energy prices, increased 0.8% for the month — also well above the 0.3% forecast. The renewed acceleration of inflation at the start of the year further delays potential Federal Reserve rate cuts, whose timing was already uncertain, and intensified the sell-off in major technology stocks. Companies such as Nvidia ( NVDA ), Broadcom ( AVGO ), Micron ( MU ), Salesforce ( CRM ), and Trade Desk ( TTD ) dropped more than 5%, dragging down major indices. The Dow Jones Industrial Average and Nasdaq Composite led losses, each falling 1.1%, while the S&P 500 declined 0.6%. In crypto-related equities, sentiment was further pressured after Jack Dorsey’s Block announced plans to cut 40% of its workforce, citing a strategic shift toward AI -driven operations. Risk asset sell-off hits crypto market Amid these developments, the crypto market initially showed resilience, supported by continued inflows into spot Bitcoin ETFs. Bitcoin hovered around $66,000, while Ethereum ( ETH-USD ) traded near $1,950. Bitcoin 4-hour chart. Source: TradingView However, by the end of the day, BTC extended losses to $65,600 and ETH declined to $1,930. The broader crypto market fell more than 3% over 24 hours, with total market capitalization dropping to $2.26 trillion. Leading altcoins posted relatively moderate losses of 2–3%, and in some cases up to 5%. “Bitcoin’s decline reflects a broader reduction in market risk appetite rather than a crypto-specific crisis. Unless institutional inflows stabilize or macroeconomic concerns ease, downside pressure may persist in the short ...
Bussarin Rinchumrus/iStock via Getty Images Key takeaways 1 The fund outperformed its benchmark Stock selection and an overweight in information technology ('IT') drove the fund's outperformance. Security selection in materials and consumer discretionary also aided relative performance. 2 Fund managers capitalized on market volatility to find new opportunities We took advantage of market volatilit...
Bussarin Rinchumrus/iStock via Getty Images Key takeaways 1 The fund outperformed its benchmark Stock selection and an overweight in information technology ('IT') drove the fund's outperformance. Security selection in materials and consumer discretionary also aided relative performance. 2 Fund managers capitalized on market volatility to find new opportunities We took advantage of market volatility to purchase several new fund holdings across various sectors. Conversely, we eliminated several holdings and used the proceeds to fund investments we believe have more upside potential. 3 Longer term, mid-cap value stocks appear attractive relative to S&P 500 stocks The price/earnings (P/E) multiple of the Russell Midcap Value Index is at a large historical discount compared to the P/E of the S&P 500 Index (Source: FactSet Research Systems, Inc.). We believe this valuation represents a compelling long-term investment opportunity. Manager perspective and outlook In managing the fund, we employ an intrinsic value approach to stock selection. It should be noted that the portfolio is not constructed based on a short-term macroeconomic view. Instead, positioning is driven by a bottom-up stock selection process based on our estimate of intrinsic value, which is based on a company's future cash flows. We seek to create wealth by maintaining a long-term investment horizon and by investing in companies that we believe are significantly undervalued on an absolute basis. Given our focus on intrinsic value and our long-term investment horizon, at quarter end, the fund was positioned with greater exposure to economically sensitive stocks compared to its peers. Following the outperformance of large-cap stocks over small-cap stocks in recent years, we see greater long-term upside to intrinsic value in many small-caps compared to large-caps. At quarter end, the difference between the market prices of the fund's holdings and our estimates of their intrinsic value was attractive, in our vi...
Alliance Wealth Advisors LLC UT grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 31.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,269 shares of the social networking company's stock after acquiring an additional 1,489 shares during the period. Meta Platforms compr...
Alliance Wealth Advisors LLC UT grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 31.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,269 shares of the social networking company's stock after acquiring an additional 1,489 shares during the period. Meta Platforms comprises approximately 1.1% of Alliance Wealth Advisors LLC UT's holdings, making the stock its 20th largest position. Alliance Wealth Advisors LLC UT's holdings in Meta Platforms were worth $4,604,000 as of its most recent SEC filing. A number of other institutional investors also recently bought and sold shares of the stock. Westchester Capital Management Inc. purchased a new position in shares of Meta Platforms during the 3rd quarter valued at about $26,000. Bare Financial Services Inc purchased a new position in Meta Platforms during the second quarter valued at approximately $30,000. Briaud Financial Planning Inc bought a new position in Meta Platforms in the 2nd quarter worth $42,000. Knuff & Co LLC purchased a new position in shares of Meta Platforms in the second quarter valued at about $44,000. Finally, WFA Asset Management Corp boosted its stake in shares of Meta Platforms by 42.6% in the second quarter. WFA Asset Management Corp now owns 67 shares of the social networking company's stock worth $49,000 after acquiring an additional 20 shares during the period. 79.91% of the stock is owned by institutional investors. Get Meta Platforms alerts: Sign Up Insider Transactions at Meta Platforms In related news, COO Javier Olivan sold 926 shares of the company's stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $652.68, for a total value of $604,381.68. Following the sale, the chief operating officer owned 17,039 shares in the company, valued at $11,121,014.52. This represents a 5.15% decrease in their ownership of the s...
Velishchuk/iStock via Getty Images Bitcoin ( BTC-USD ) and other digital assets declined sharply after Israel announced it had launched a preemptive strike on Iran on Saturday. Bitcoin ( BTC-USD ) fell as much as 3.8% to $63,038, while Ether ( ETH-USD ), the second-largest cryptocurrency, dropped 4.5% to $1,835. In the immediate aftermath of the news, the total crypto market shed roughly $128B in ...
Velishchuk/iStock via Getty Images Bitcoin ( BTC-USD ) and other digital assets declined sharply after Israel announced it had launched a preemptive strike on Iran on Saturday. Bitcoin ( BTC-USD ) fell as much as 3.8% to $63,038, while Ether ( ETH-USD ), the second-largest cryptocurrency, dropped 4.5% to $1,835. In the immediate aftermath of the news, the total crypto market shed roughly $128B in value, according to data from CoinGecko . Other notable cryptocurrencies that declined included XRP ( XRP-USD ), Binance Coin ( BNB-USD ), Stellar ( XLM-USD ), Celestia ( TIA-USD ), Uniswap ( UNI-USD ), Avalanche ( AVAX-USD ), Dogecoin ( DOGE-USD ), and Solana ( SOL-USD ). U.S. President Donald Trump said Saturday that the U.S. military has begun “major combat operations” in Iran, confirming American participation in coordinated strikes after Israel launched attacks on Iranian targets. “Our objective is to defend the American people by eliminating imminent threats from the Iranian regime, a vicious group of very hard, terrible people,” Trump said in a video message on his Truth Social account. Airstrikes carried out by both the U.S. and Israel have targeted multiple provinces across Iran. Three powerful explosions were reported in central Tehran, according to Fars News, which said several missiles likely struck the capital. Iranian state television showed thick plumes of smoke rising over parts of the city. The Associated Press reported that one of the strikes occurred near the office of Iran’s Supreme Leader, Ali Khamenei. Israeli Defense Minister Israel Katz declared a state of emergency following the announcement of the strike, warning that Israel could face retaliatory drone and missile attacks. Iranian state media reported that the Islamic Republic is preparing what it described as a “crushing response.” For Bitcoin ( BTC-USD ), the latest drop adds to a broader, months-long downturn in crypto markets that began after the token peaked above $126,000 in October. Notable...
UBS Group AG plans to keep Chief Executive Officer Sergio Ermotti in the post beyond April 2027 as a standoff with Swiss authorities over capital rules delays succession planning, according to a report by Swiss newspaper NZZ. Chairman Colm Kelleher and the board have concluded the 65-year-old is best placed to steer the bank through the regulatory battle that has ensued in the wake of Credit Suiss...
UBS Group AG plans to keep Chief Executive Officer Sergio Ermotti in the post beyond April 2027 as a standoff with Swiss authorities over capital rules delays succession planning, according to a report by Swiss newspaper NZZ. Chairman Colm Kelleher and the board have concluded the 65-year-old is best placed to steer the bank through the regulatory battle that has ensued in the wake of Credit Suisse’s collapse, the newspaper reported on Saturday, citing sources it didn’t identify. The dispute centers on how much core capital UBS must hold as Switzerland’s sole remaining global systemically important bank. At issue is a proposal from the finance ministry that would require UBS to back foreign subsidiaries with 100% of their value, up from 60% currently, a change that could force the bank to raise as much as 26 billion Swiss francs ($33.8 billion) in additional capital, according to the newspaper. A separate measure under consideration could bar UBS from counting certain software assets and deferred tax assets toward capital, potentially wiping out about 11 billion francs in capital, NZZ said, citing the bank’s calculations. Until there is clarity on the capital question, the board is unable to define a profile for Ermotti’s successor, NZZ cited its sources as saying. UBS said it would do “everything in our power” to ensure it can “continue to operate successfully as a global bank from Switzerland,” in a response to NZZ. “Nevertheless, the Board of Directors is obliged to prepare for all scenarios,” it told the newspaper. Ermotti, who returned in 2023 to oversee the integration of Credit Suisse, is now set to remain until the regulatory question is resolved, a process that may stretch to 2028, NZZ said. Read More: UBS Tops Rivals in Trading-Revenue Growth Despite Capital Rules