This fund driven by artificial intelligence is ditching big tech. Here’s what it’s doing instead.
The megacap tech stocks have had a solid if not spectacular 2021. Heading into the final days of the year, Google parent Alphabet GOOG,
The artificial-intelligence Powered Equity ETF AIEQ,
What is the fund doing now? It still has a smattering of tech stocks in its top 10, led by microchip maker Advanced Micro Devices AMD,
“AIEQ has been diversifying its holdings in a host of industries and putting most of its capital to work. That’s in contrast to this past September, for example, when it placed more concentrated investments in well-known companies amid that choppy month for U.S. equities. This latest approach reflects the current positive investment environment with the S&P near record highs,” says Rabe.
The buzz
Tesla TSLA,
Apple AAPL,
The trade deficit in goods ballooned by 17.5% in November, the Commerce Department reported. Retail inventories rose by 2%, and wholesale inventories rose by 1.2%, the same report said. Pending home sales data is due shortly after the open.
The World Health Organization reported that the number of COVID-19 cases worldwide climbed 11% last week, with Europe having the highest infection rate of any region.
The market
Stock futures ES00,
The yield on the 10-year Treasury TMUBMUSD10Y,
Top tickers
Here are the top tickers on MarketWatch, as of 6 a.m. Eastern.
Ticker | Security name |
TSLA, |
Tesla |
AMC, |
AMC Entertainment |
GME, |
GameStop |
DXY, |
U.S. dollar index |
DJIA, |
Dow Jones Industrial Average |
ES00, |
E-mini S&P 500 futures |
NIO, |
NIO |
AAPL, |
Apple |
TMUBMUSD10Y, |
U.S. 10 Year Treasury |
NVDA, |
Nvidia |
Random reads
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These brothers have re-gifted the same candy since 1987.
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