History shows that the starting points of technological revolutions are not invariably followed by large stock market selloffs. The historical precedent we draw from Carlota Perez's 2002 book, "Technological Revolutions and Financial Capital," coupled with the macrohistory.net data, provides some guidance.

The Benetton family’s holding company Edizione is setting up an alternative investment firm with about €3 billion ($3.5 billion) in assets under management as it seeks to grow its private markets.

Goldman Sachs Group Inc. will pay $2 billion to buy Innovator Capital Management, a deal that combines the bank with an issuer of a relatively new type of exchange-traded fund that has caught the attention and ire of some on Wall Street.

In today’s markets, mentioning the “B-word” will get you thrown into the “permabear” camp, and everyone immediately assumes you mean the end of the world: death, disaster, and destruction. Yes, bear markets have terrible short-term impacts, but they also allow the system to reset for healthier growth in the future.

While outright defaults in the private credit sector remain low, analysts are increasingly concerned about the deteriorating outlook for repayment problems. When factoring in "selective defaults"—like borrowers adding interest to the loan (PIK loans) or extending maturities—the true default rate climbs to a significantly higher 4.6%.

U.S. stocks, as measured by the S&P 500 Index, are on pace for 14% growth in earnings for Q3 2025. This marks the fourth consecutive quarter of double-digit growth and comes in well ahead of analysts’ Sept. 30 estimates of 7%.

Following a rocky start to the year, the municipal bond market has shown strong performance in Q3 2025, outperforming broader bond indexes due to factors like easing oversupply and growing demand.

Nvidia's strong earnings initially squashed AI bubble fears but a deep dive into its financials, revealing high customer concentration, triggered a major tech sell-off.

As investors start to take sides in the AI race, Sam Altman’s buddies are getting burned.

The Federal Reserve's balance sheet has significantly shrunk from its peak of nearly $9 trillion in 2022, shifting the reserve environment from "abundant" to "ample." While some advocate for further reduction, arguing it would increase market volatility and allow for lower rates, this move would necessitate a major operational change in how the Fed conducts monetary policy and would not dramatically lower short-term rates.

Kostas Bintas, the high-profile head of metals at Mercuria Energy Group Ltd., has renewed his bullish prediction for copper prices as he warned that a rush to ship metal to the US risks draining the rest of the world’s inventories.

Despite the "America First" focus of the current administration, international markets, particularly emerging markets (EM), have outperformed domestic financial markets. This surprising trend is highlighted by the strong performance of EM debt and equities, driven primarily by U.S. dollar weakness and corresponding monetary easing by EM central banks.

This month, the global investment community is celebrating the 25th anniversary of the world’s first fixed income ETFs, the iShares Core Canadian Short Term Bond Index ETF (XSB) and the iShares Core Canadian Universe Bond Index ETF (XBB).

The Chicago Mercantile Exchange (CME), a crucial hub for managing global risk, experienced a nine-hour trading halt due to a data center fault on Friday, disrupting markets from S&P 500 futures to crude oil. This major outage underscores the CME's integral role in global market machinery, where its platforms handle volumes exceeding 26 million derivatives contracts daily.

Nasdaq’s International Securities Exchange proposed quadrupling the daily trading limit for options tied to BlackRock Inc.’s iShares Bitcoin Trust ETF as demand from investors increases.

The dominance of Jensen Huang and Nvidia in the AI hardware market is facing a significant challenge, signaling a shift in the industry's power dynamic. This is driven by news of Google potentially selling billions of dollars in its own Tensor Processing Units (TPUs) to Meta, following a similar major deal with Anthropic.

According to market theory, persistent outperformance shouldn’t exist. However, companies with high and stable profitability, strong balance sheets, and disciplined capital allocation have demonstrated the ability to deliver superior returns with lower risk over time.

At Vanguard, we are always working to make our target-date funds (TDFs) better. That means regularly reviewing our glide-path design and diving into specific asset allocation topics to ensure that our strategies evolve with the market and continue to meet our clients' needs.

The 20th century Baby Boom was one of the most powerful demographic events in the history of the United States. We've created a series of charts to show seven age cohorts of the employed population from 1948 to the present.

This impressive performance, fueled largely by the prominent allocation to the "Magnificent Seven" tech stocks, highlights the strong adoption of ETFs and VOO's role as the premier choice for U.S. equity exposure amidst a challenging macro environment. This success helped the entire ETF industry surpass its previous trillion-dollar record.

This article argues that a grateful mindset is a powerful strategy for improving financial and investment decision-making, citing research that links gratitude to better outcomes and overall well-being.

Google, once seen as lagging after the launch of ChatGPT, is now surging in the AI race with its new Gemini 3 model winning praise and driving investor confidence.

As investors shift away from volatile artificial intelligence stocks, the health-care sector has emerged as the clear winner this month, with the S&P 500 Health Care Index up 10%. This rotation, fueled by aggressive buying from hedge funds and mutual funds, reflects investor interest in defensive value amid concerns over an AI stock bubble.

In a recent episode of the Money Metals podcast, host Mike Maharrey sits down with Jordan Roy-Byrne, CMT, MFTA, editor and publisher of The Daily Gold, to unpack where gold and silver are in the current cycle.

Yes, we may be in the second market bubble of this century. Alternatively, the market may be pricing in a shift as fundamental as the transition to either electricity or the internet. Either way, investors must think clearly, act deliberately, and avoid the kind of blind speculation that turned past booms into bloodbaths.

Kalshi Inc.’s Chief Executive Officer Tarek Mansour got my attention when he claimed last week that prediction markets could rival stock exchanges in a few years. Of course, this does not mean that people will buy and sell stocks on Kalshi, but that prediction markets will be where information is aggregated and prices set, with the New York Stock Exchange and its ilk relegated to processing orders.

The release of OpenAI's ChatGPT three years ago sparked an artificial intelligence mania on Wall Street, fundamentally reshaping the stock market landscape. This AI-driven frenzy has minted new market leaders, made the S&P 500 significantly more concentrated, and served as the dominant driving force behind the current bull market in US stocks.

Today’s massive and still-growing investments in AI and its accompanying infrastructure could well pay off like the internet did, following the investment boom of the late 1990s. But, for now, the gains from AI look more muted, and the macro downsides larger, than in the case of the dot-com bubble.

On this episode of the “ETF of the Week” podcast, VettaFi’s Head of Research, Todd Rosenbluth, discussed the Utilities Select Sector SPDR Fund (XLU) with Chuck Jaffe of Money Life. The pair discussed several topics related to the fund to give investors a deeper understanding of the ETF.

JD Gardner, Founder of Aptus Capital Advisors, goes inside the decision to launch the lowest-cost buffer ETFs and the outsized role investor behavior plays in long-term returns. Stacey Morris, Head of Energy Research at VettaFi, spotlights the latest leaders and laggards in energy ETFs and what could drive the sector in the months ahead.

Despite facing rising tariffs and trade barriers globally since the U.S.-China trade war began in 2017, Chinese exports have surprisingly continued to grow. Total annual exports have expanded by 58% since 2017, reaching a staggering $3.58 trillion, which is a performance far better than many analysts predicted given the severity of the trade conflict.

This article explores gold's role as a distinct, independent alternative asset class, discussing its diversification benefits, and practical ways for investors to gain exposure.

Wall Street’s macro traders are headed for their best year since 2009 as clients rushed to place bets on changing interest rate policies by central banks around the world.

Meta Platforms Inc. is in talks to spend billions on Google’s AI chips, the Information reported, adding to a monthslong share rally as the search giant has made the case it can rival Nvidia Corp. as a leader in artificial intelligence technology.

The ALPS Electrification Infrastructure ETF (ELFY) is drawing investor attention as U.S. electricity demand heads for its fastest growth in decades, driven by artificial intelligence data centers, manufacturing reshoring, and expanding electric vehicle infrastructure.

Nvidia CEO Jensen Huang turned heads earlier this month when he told the Financial Times he believes China will win the artificial intelligence (AI) arms race due to the country’s expanding power capacity and lack of regulatory bottlenecks that slow things down here in the U.S.

Amid concerns that the traditional 60/40 investment mix no longer works, financial experts are recommending a 20 percent allocation to gold as a necessary portfolio adjustment. This shift is driven by the fact that gold is increasingly viewed as the most reliable hedge against inflation and government spending, unlike bonds which have lost their safe-haven status. Consequently, investors are initiating a "quiet revolution" by moving billions into gold ETFs.

Bitcoin miners are landing contracts with some of the world’s largest technology companies. This happens as they pivot from cryptocurrency mining to artificial intelligence infrastructure, according to recent research from CoinShares.

Those who have defaulted into TDFs need to un-default and take back risk control over their lifetime savings. Safe assets include Treasury bills and short-to-intermediate TIPS, even though their returns are low. The price of safety is low, but reliable, returns.

This article walks readers through the Federal Reserve’s balance sheet to explain how it now acts as the primary provider of liquidity to financial markets. It details the Fed’s reserve management tools, including the well-known QE and QT, to show exactly how it injects or withdraws reserves from the banking system.

A third straight week of market turbulence left US equity investors searching for any edge on how to position ahead of what is normally a strong seasonal stretch for stocks.

A flood of debt sales from Big Tech risks overwhelming buyers and could weaken the credit market on both sides of the Atlantic.

AI looks like a classic investment bubble to us, with very high valuations and signs of rampant speculation. But we recognize that while many investors harbor fears that AI might be a bubble, they are far from sure of that fact and tend to assume the market is appropriately priced as a fairly strong prior.

Answers to questions investors are currently asking about Treasury bonds, tax policy, credit quality and other issues currently affecting fixed income investments.

The SEC has granted Dimensional exemptive relief to offer dual share class funds, a move that allows certain mutual funds to offer an ETF share class under the same structure. This monumental decision, following the expiration of Vanguard's patent, is expected to open the floodgates for other asset managers seeking to offer their existing mutual fund clients the tax efficiency and structural benefits of ETFs.

Last week's economic landscape was defined by conflicting signals from key indicators, suggesting a growing divergence between investor behavior and underlying consumer health.

Looking at your portfolio and feeling a distinct lack of income? Now may be the time to get more income into portfolios, with this version of covered call ETFs offering a solid option.

Vanguard continues its push into the active ETF market with the introduction of three news funds focused on equities. These are the Vanguard Wellington U.S. Value Active ETF (VUSV), Vanguard Wellington U.S. Growth Active ETF (VUSG), and Vanguard Wellington Dividend Growth Active ETF (VDIG). This bolsters the current active equity roster to now eight funds for the issuer.

As measured by the largest ETF dedicated to the sector, real estate stocks are offering middling performances this year. That is disappointing considering the Fed has pared interest rates two times. However, that tepid sentiment arguably belies opportunity with ETFs such as the ALPS Active REIT ETF (REIT).

In times of uncertainty — whether in sport or in markets — the ability to separate fact from feeling — or ideology — is critical. This principle applies across leadership, investing and even today’s AI-driven economy.