Contrary to expectations of a slowdown, the US economy grew at a solid 2% annual rate in Q1, surpassing previous estimates of 1.3% growth.
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2023-06-30 | Sign Up | View Online | Advertise
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Market Snapshot 📷
S&P 500 4,396.44 +0.45%
Nasdaq 13,591.33 -0.01%
Dow 34,122.42 +0.80%
10-Year 3.842% +0.13%
Oil 69.80 +0.35%
Gold 1,916.70 -0.29%

*All data as of the previous day’s market close.

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Markets & Economy
US first-quarter economic growth was actually 2%, up from 1.3% first reported (2 min read)

Contrary to expectations of a slowdown, the US economy grew at a solid 2% annual rate in Q1, surpassing previous estimates of 1.3% growth. Consumer spending played a significant role in driving the increase which was revised up to 4.2%, driven by the rise in Social Security cost-of-living adjustments. Despite this resilience, uncertainties remain as the Fed is committed to continuing its rate hiking campaign throughout the rest of 2023 and keeping it higher into next year.
After a raucous first half of 2023, Wall Street is still wondering if recession is in the cards (4 min read)

Halfway into 2023 and little in the market has gone according to plan. Earlier this year, investors thought the US would be in a recession by now, the Fed would start cutting rates, and China’s strong recovery would provide a cushion for the global economy. None of those scenarios happened while the US stock market surged to its highest level since early 2022. Contradicting factors like a strong labor market and high interest rate supports both the upside and downside for the remainder of 2023. This article takes a closer look at both sides of the argument.
Business & Stocks
US bank stocks rise as lenders sail through Fed's stress tests (2 min read)

US bank stocks rose after the Fed's stress test results, which showed banks fared even better than last year to withstand an economic downturn. The top performer in the test, Charles Schwab, saw its shares gain 2.8%, while major banks such as JPMorgan Chase, Wells Fargo, and Bank of America also experienced increases. Despite the positive test results, analysts are skeptical about the impact on bank stock returns in the near term due to an uncertain economy and regulatory requirements.
Micron Delivers Strong Forecast in Sign That Glut Is Easing (3 min read)

Micron Technology has provided an optimistic forecast for the current period, suggesting that the chip industry's oversupply situation is improving. While the company expects revenue in the coming quarter to be higher than the analysts’ estimates, it also acknowledges the challenges in China, where government actions regarding security risks are impacting its outlook and hindering its recovery. Micron's projection may indicate that customers have worked through inventory buildups, leading to increased purchasing.
Funds & ETFs
ETF Tokenization: Game Changer or Fad? (7 min read)

The concept of tokenized ETFs is gaining traction as the crypto industry explores the synergy between cryptocurrencies and ETFs. Tokenized ETFs are crypto tokens representing traditional ETFs, traded on a blockchain. While some industry experts believe tokenization could revolutionize the market, others express skepticism due to market depth, counterparty risk, and regulatory challenges. Despite the hurdles, several providers are experimenting with tokenized ETFs, with the potential for the tokenization of real assets in the future.
Homebuilding ETFs: A Split-Level Decision (3 min read)

The US homebuilding sector is experiencing a resurgence, with homebuilding stocks outperforming the broader market. The latest S&P CoreLogic Case-Shiller index shows a third consecutive monthly rise in home prices, leaving them close to their peak from a year ago. This, coupled with strong housing starts, has attracted attention from investors looking for ETFs that capitalize on this growth. Top Homebuilding ETFs like ITB and XHB have seen substantial gains so far this year while maintaining reasonable valuations.
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