Shares of the videogame retailer rose 23% in trading on the market after Monday’s wild session. For some people, these are disturbing memories of the dot-com boom and bust, and the fear may repeat history.
Maybe one day it will be easier if the robots can think for us. It brings us to our call of the day, which comes from the DataTrek Research blog, which wonders if a fund that relies on artificial intelligence to invest ideas and is currently heavy on technology stocks knows something we do not know.
DataTrek takes note of the AI Powered Equity AIEQ,
the exchange-traded fund has risen 12% so far, compared to a 2.6% profit for the S&P 500 SPX,
and for 2020, they increased by 25% respectively, compared to 18%. It rose 101% from the COVID-19 lows in March, compared to a 72% increase for the S&P.
Electric car manufacturer Tesla TSLA,
solar solution group SunPower SPWR,
Advanced Micro Devices AMD disk group,
energy technology group Enphase Energy ENPH,
and technology giant Alphabet GOOGL,
are the five best holdings.
DataTrek found that the fund’s top fund is more technically heavy than in October, when more cyclical-flavored stocks such as healthcare group Pfizer PFE,
and engine manufacturer Ford F,
reached the top 10.
It seems that AIEQ has picked up a good bit of ‘signal’ from the market over the past twelve months, hence the fact that it alleviates the cyclics at the top of the page and maintains / increases its exposure to disruptive technology names (TSLA), SPWR , ENPH) is interesting, ”says DataTrek.
What can it mean? A human driver currently moving away from the cyclics could be a sign of cold feet over the progress of the deployment of COVID-19.
As the DataTrek folks say, these AI ETF plays reflect those of a successful hedge fund manager from the 1990s – ‘well-known stocks. Perhaps the real power of investments driven by artificial intelligence is simply not overthinking things. ”
The markets
Equity futures contract YM00,
ES00,
NQ00,
slightly mixed, while European equities SXXP,
is higher. China’s CSI 300 000300,
and Hong Kong’s Hang Seng Index HSI,
lost more than 2% each. This is after the People’s Bank of China, in a surprising move, withdrew funds from the financial system and apparently warned about asset risks.
The tweet
From Alexis Ohanian, husband of tennis star Serena Williams and co-founder of Reddit:
The buzz
Shares of conglomerate General Electric GE before the market opens,
rises as revenues exceed forecasts, and healthcare group Johnson & Johnson JNJ,
made a profit and growth in pharmaceutical sales. Financial Services Group American Express AXP,
come on. Following the closure, technology giant Microsoft MSFT,
coffee group Starbucks SBUX,
and chip companies Advanced Micro Devices AMD,
and Texas Instruments TXN,
report.
Shares of e-commerce website Etsy ETSY,
increases by 9% in pre-marketing. It appears to have coincided with a comment on Twitter TWTR,
by Tesla CEO Eles Musk, who said, “I love Etsy very much.”
The Federal Housing Financing Agency’s house price index, the S&P Case-Shiller house price index and consumer confidence data are available.
BlackRock BLK,
CEO Larry Fink says businesses need to set or sell environmental goals.
European Union officials chatted tense with the pharmaceutical group AstraZeneca AZN,
AZN,
Monday about the delay of the vaccine by COVID-19 and threatened the export control of any vaccines in the region.
Alternative Asset Manager Apollo Global Management APO,
says Leon Black, CEO, will resign by July.
Lawmakers move forward with an indictment of former President Donald Trump.
Shares in Chinese technology conglomerate holding company Tencent 700,
withdrew after Monday’s 11% rise which brought it to a valuation of $ 1 billion. And China’s central bank chief has struggled to respond to a question regarding digital payments group Ant Financial, whose initial public offering has been delayed.
Random reading
As any good Spaniard will tell you, naps are a good thing.
Snowball fights in the closed UK? It can cost you.
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