![]() ![]() "I know they're still really important for markets, but we're actually seeing a broadening in performance, with a number of names from different sectors hitting 52-week highs," she added.Ī glance at a list of the 10 best-performing stocks year-to-date backs up Brooks' belief that the 2023 rally is no longer just about tech – with General Electric, homebuilder PulteGroup, and three cruise lines featuring alongside Nvidia, Meta Platforms, and Tesla. "We've kind of moved on a little bit ," Minerva Analysis founder Kathleen Brooks told Insider in a recent interview. The proportion of S&P 500 stocks trading above their 200-day average – an indicator of market breadth – climbed as high as 65% this week, the highest since mid-February. Suddenly, the word on analysts' lips is "breadth" – used to describe a rally that lifts a wide distribution of stocks, rather than a handful of select names. June was the benchmark S&P 500 index's best month since October, with a 6.5% gain that was close on the heels of the FANG+ group of New York Stock Exchange-listed Big Tech companies. Xinhua/Wang Ying/Getty Imagesīig Tech stocks led US stock gains in the first half of 2023, fueled by an explosion of interest in AI.īut the rally is now broadening out to other sectors – June was the best month this year for the S&P 500 index.Ī gauge of US stock-market breadth just hit the highest level since February.įor most of 2023, the dominant story for equity investors has been the rise of artificial intelligence – which helped fuel a stunning surge in " Magnificent Seven" Big Tech stocks including Apple, Microsoft and Nvidia.īut there are signs the rally is now broadening out to other sectors. ![]() ![]() The Financial Times reported in December that Swift had been in the late stages of negotiating a tour sponsorship deal with FTX, and that Bankman-Fried’s fellow executives pushed back on the proposed agreement as being “too expensive.Big Tech stocks started 2023 on a tear – but that rally has broadened into other sectors in recent weeks. He exited the firm in November and has since been charged by various agencies for his alleged actions, and FTX is undergoing bankruptcy proceedings as it attempts to repay customers and creditors. Word of Swift’s negotiations with FTX first surfaced last December amid a river of bad news and revelations around the exchange, which shut down last November after facing a liquidity crisis and being unable to fulfill customer deposits.īankman-Fried and associates have since been accused of using customer funds to prop up his Alameda Research trading firm, as well as for investments. A source further tells CNBC that Bankman-Fried waited weeks to respond to the signed agreement.Ĭollapsed FTX Sought $100M Sponsorship Deal With Taylor Swift: Reportĭecrypt reached out to Swift’s representatives for comment but did not immediately hear back. The late change in plans reportedly had Swift’s side left “frustrated and disappointed,” per the report. However, according to the Times, it was former FTX CEO and co-founder Sam Bankman-Fried who walked away from the deal after Swift signed. The value of the deal was reportedly as high as $100 million, according to Times sources, and the proposed agreement to sponsor a tour had come after discussions of other partnership approaches. ![]() The New York Times reports today that Taylor Swift signed a proposed tour sponsorship deal with FTX in spring 2022 following six months of negotiations. And a new report suggests that it was actually FTX that pulled out of a planned sponsorship deal. Collapsed crypto exchange FTX was flush with celebrity allies, including athlete ambassadors like Tom Brady and Shaquille O’Neal, but the now-bankrupt startup reportedly was on the verge of nabbing another superstar- musician Taylor Swift. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |