Bloomberg Markets
Eric Balchunas marks the 50th anniversary of the first index fund, the Vanguard 500 Index Fund. It launched on August 31st, 1976 and eventually led the way for passive investing. (Source: Bloomberg)
Yahoo Finance
Yahoo Finance
Financial Times
Federal Trade Commission claims ecommerce giant overcharged about 1.2mn businesses to promote their products
Yahoo Finance
Bloomberg Markets
Brooks Cutright, portfolio manager at Hedgeye Asset Management, joins Scarlet Fu and Eric Balchunas on "Bloomberg ETF IQ." Index tracking funds have nearly $27 trillion tied to the S&P 500. This Friday the S&P 500 is set to announce who may be added or taken out of the index as part of a rebalancing. Thirty-six companies appear to qualify for entry, while more than 110 existing members no longer meet the index's market-cap hurdle.
(Source: Bloomberg)
Yahoo Finance
Bloomberg Markets
Republican Congressman from Georgia Rich McCormick said that there's a lot of 'misinformation' around data centers and that communities with data centers will see improvements and lower property taxes from the outside investment. McCormick also weighed in on strikes between Iran and the US, saying he backed military involvement because the IRGC doesn't understand 'anything other than strength.' (Source: Bloomberg)
Bloomberg Markets
The Trump administration granted oil refineries the biggest amount of exemptions from mandates requiring them to blend renewable fuels since 2017, in a move that risks angering farmers ahead of the midterm elections in November.