Wed, Nov 27, 2024 5:56 PM
Persistent Systems may sustain its valuations or re-rate further: JPMorgan
A Flip by Avya Verma
JPMorgan has filed for a new ETF that aims to provide exposure to Nasdaq-100 stocks while using options to hedge against market downturns, according to a recent SEC filing. The JPMorgan Nasdaq Hedged Equity Laddered Overlay ETF will invest at least 80% of its assets in equity securities, while employing an options strategy to provide continuous market hedging, according to the filing.
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Urban Outfitters' shares surged 14% after reporting a Q3 earnings beat, driven by rising sales at Free People and Anthropologie, despite declining sales at its namesake stores. The company sees a "remarkably resilient" consumer and is optimistic about holiday demand, but may close or downsize some Urban Outfitters stores in the coming years.
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The American economy expanded at a healthy 2.8% annual pace from July through September on strong consumer spending and a surge in exports, the government said Wednesday, leaving unchanged its initial estimate of third-quarter growth. U.S. gross domestic product — the economy's output of goods and services — slowed from the April-July rate of 3%, the Commerce Department reported Wednesday.
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