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The fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index tracks the performance of publicly traded national money centers and leading regional banks. It may invest in equity securities that are not included in the index, cash and cash equivalents or money market instruments, such as repurchase agreements and money market funds.

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도널드 트럼프 대통령 당선자가 헤지펀드 경영자 스콧 베센트(Scott Bessent)를 미국 재무장관으로 지명했다. 무슨 일이 있었나: 62세인 베센트는 키 스퀘어 그룹(Key Square Group)의 창립자이며, 전 연방준비제도(연준) 이사 케빈 워시(Kevin Warsh)와 사모펀드 경영자 마크 로완(Marc Rowan)과 경쟁하며 주요 후보로 떠올랐다.

트럼프, 헤지펀드 경영자 스콧 베센트를 재무장관으로 지명: 미국 경제 미래에 미치는 영향

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JP모건 체이스(NYSE:JPM), 뱅크 오브 아메리카(NYSE:BAC) 및 웰스 파고(NYSE:WFC)를 포함한 미국 주요 은행의 주가는 도널드 트럼프의 2024년 대선 승리 이후 수요일 급등했다. 투자자들이 공화당 주도의 행정부 하에서 규제가 완화될 가능성에 베팅한 결과이다. 자세한 내용은 여기를 클릭하세요.

JP모건, 뱅크 오브 아메리카 및 웰스 파고 주식이 급등한 이유: 도널드 트럼프?

Markets

JP모건 체이스(NYSE:JPM)의 CEO인 제이미 다이먼은 미국 경제에 영향을 미칠 수 있는 문제에 대해 엄중한 경고를 발표했다. 무슨 일이 (What Happened): 이 은행의 3분기 실적 발표에서 다이먼은 경제 및 지정학적 안정성을 모두 방해할 수 있는 몇 가지 중요한 글로벌 위험을 강조했다.

제이미 다이먼이 경제에 대한 글로벌 위험에 대해 경고: &#39;위험하고 점점 더 악화되고 있다&#39;

President-elect Donald Trump has picked hedge fund executive Scott Bessent as the U.S. Treasury Secretary.
What Happened: Bessent, 62 and founder of Key Square Group, was a leading candidate, <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42091821/could-donald-trumps-potential-treasury-secretary-be-out-of-his-depth-on-crypto-policy-polymarket-traders-just-cant-decide-on-a-favorite">competing with</a> former Fed Governor Kevin Warsh and private equity executive Marc Rowan.
While sharing the decision on Friday via his social media platform Truth Social, Trump lauded Bessent as "one of the World's foremost International Investors and Geopolitical and Economic Strategists."
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22205557/Screenshot-2024-11-23-at-7.25.49%E2%80%AFAM-900x1024.png" alt="" class="wp-image-661913" /><figcaption class="wp-element-caption">Source: Truth Social</figcaption></figure>
See Also: <a href="https://www.benzinga.com/news/legal/24/11/42147981/trumps-hush-money-sentencing-delayed-as-legal-immunity-debate-escalates">Trump&#8217;s Hush Money Sentencing Delayed As Legal Immunity Debate Escalates</a>
Bessent is known for his support of gradual tariffs and deregulation, aligning with Trump&#8217;s economic vision, which includes reviving manufacturing and achieving energy independence.
Despite his previous role as chief investment officer for George Soros' fund, Trump expressed confidence in Bessent&#8217;s ability to improve U.S. competitiveness and address trade imbalances.
Why It Matters: As Treasury Secretary, Bessent will replace outgoing Secretary Janet Yellen, overseeing financial institutions and combating financial crimes at a time when <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42140842/sp-500-faces-volatile-2025-as-inflation-boom-could-return-bank-of-america-strategist">the national debt has ballooned to $36 trillion</a>.
According to <a href="https://www.benzinga.com/government/regulations/24/11/41909846/trumps-treasury-pick-frontrunner-scott-bessent-could-shift-wall-street-crypto">betting markets</a>, Bessent was a frontrunner with an 82% probability of securing the nomination. His appointment could significantly impact Wall Street and the crypto sector.
In October, Bessent assured that a new Trump administration would <a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41308042/trump-adviser-defends-ex-presidents-economic-policies-strong-dollar-would-natural">support a strong dollar</a>, countering previous suggestions of a weaker dollar to boost exports.
Despite Elon Musk&#8217;s support for Howard Lutnick, <a href="https://www.benzinga.com/etfs/24/11/42044642/trump-appears-frustrated-as-elon-musk-chimes-in-on-treasury-secretary-adds-more-names-to-a-list-of-potential-picks">Trump favored Bessent&#8217;s</a> business-as-usual approach.
In July, Bessent gained attention for his optimistic stance on cryptocurrency, suggesting he might support digital assets if confirmed. &#8220;Crypto is about freedom and the crypto economy is here to stay,&#8221; he stated at the time.
The latest 13F filing from Bessent&#8217;s Key Square Group fund shows a highly concentrated portfolio, with equal investments in two banking-focused ETFs: the SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>) and the SPDR S&amp;P Bank ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KBE#NYSE">KBE</a>), each making up 50% of the fund.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/11/42146895/are-you-rich-enough-to-benefit-from-trumps-tax-breaks-heres-how-much-youd-need-to-be-part-of-the-top-5">Are You Rich Enough To Benefit From Trump&#8217;s Tax Breaks? Here&#8217;s How Much You&#8217;d Need To Be Part Of The Top 5%</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Trump Picks Hedge Fund Exec Scott Bessent As Treasury Secretary: What President-Elect's Choice Means For America's Economic Future

Prominent macro hedge fund manager Scott Bessent is emerging as the frontrunner for Treasury Secretary in <a href="https://www.benzinga.com/topic/donald-trump">President-elect Donald Trump's administration.</a>
According to betting markets, Bessent has surged well ahead of other contenders, positioning him as a top pick for the critical role at the Treasury.
<h3 class="wp-block-heading">Betting Markets Favor Bessent For Treasury</h3>
As of Nov. 12, betting odds on CFTC-regulated platform Kalshi show Bessent with an 82% probability of securing the nomination, followed by John Paulson at 7% and Jay Clayton at 3%. 
Bessent's background as a successful hedge fund manager with a macroeconomic focus appears to resonate with Trump's key advisers.
Bessent currently leads Key Square Group, a Connecticut-based hedge fund with assets under management (AUM) of approximately $307 million. 
<h3 class="wp-block-heading">Bessent's Take On Crypto: &#8216;Crypto Is About Freedom&#8217;</h3>
In July, Bessent made headlines with his bullish views on cryptocurrency, signaling he could be an advocate for digital assets if appointed. 
Speaking on Fox Business, he praised crypto for attracting a new generation of investors, especially those disillusioned by traditional markets after the 2008 financial crisis.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Here are the full comments on <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw">#crypto</a> and <a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#bitcoin</a> Bessent made on <a href="https://twitter.com/FoxBusiness?ref_src=twsrc%5Etfw">@FoxBusiness</a> in July. <a href="https://t.co/3O09jKZLJD">https://t.co/3O09jKZLJD</a> <a href="https://t.co/ggeLHs5JVc">pic.twitter.com/ggeLHs5JVc</a>
&mdash; Eleanor Terrett (@EleanorTerrett) <a href="https://twitter.com/EleanorTerrett/status/1856204133901963512?ref_src=twsrc%5Etfw">November 12, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
"Crypto is about freedom and the crypto economy is here to stay," Bessent said.
"One of the most exciting things about Bitcoin is it's bringing in young people, people who haven't participated in markets before. A strong market culture in the U.S., with people believing the markets work for them, is a cornerstone of capitalism."
With Bessent at the Treasury, crypto advocates might hope for a more favorable regulatory environment. 
His positive views could align with policies that encourage innovation in digital assets, potentially supporting the growth and the rate of penatration of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and other cryptocurrencies.
<h3 class="wp-block-heading">Wall Street Impact: Bessent&#8217;s Banking Playbook</h3>
Bessent's investment portfolio at Key Square Group offers insights into his potential impact on Wall Street. 
According to Key Square&#8217;s latest 13F filing, the fund held highly concentrated positions in two banking-focused ETFs: the SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>) and the SPDR S&amp;P Bank ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KBE#NYSE">KBE</a>), each representing 50% of the fund&#8217;s portfolio.
Since the election results indicated a Trump victory and Republican control of Congress, the KRE ETF has rallied by 15.2%, and the KBE ETF has surged 13.5%, reflecting optimism about banking-friendly policies under the incoming administration.
Year-to-date, the KRE ETF is up 27%, while KBE has gained 34%.
For Wall Street, Bessent&#8217;s appointment might signal a Treasury more open to financial innovation, deregulation, and support for small and mid-sized banks. 
Read Next:
<ul>
<li><a href="https://www.benzinga.com/federal-reserve/24/11/41900128/trump-vs-powell-dec-18-fed-meeting-sets-stage-for-new-tensions">Trump Vs. Powell: Dec. 18 Fed Meeting Sets Stage For New Tensions</a></li>
</ul>
Photo: Shutterstock

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Trump's Treasury Pick Frontrunner Scott Bessent Could Shift Wall Street, Crypto

Shares of major U.S. banks including JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), Bank of America Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) and Wells Fargo &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) surged on Wednesday following Donald Trump's victory in the 2024 presidential election. Investors are betting on the potential for softer regulations under a GOP-led administration. Here&#8217;s <a href="https://www.benzinga.com/news/24/11/41768178/donald-trump-defeats-kamala-harris-to-win-2024-election">what you need to know.</a>
What To Know: The SPDR S&amp;P Bank ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KBE#NYSE">KBE</a>) saw a rise of more than 11%, while the SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>), which focuses on smaller banks, surged over 13%, both hitting new 52-week highs on Wednesday.
Following Trump's election win this week, Wall Street analysts have noted a potential shift in the regulatory environment for the banking industry, according to <a href="https://www.cnbc.com/2024/11/06/bank-stocks-advance-in-overnight-trading-as-robinhood-traders-bet-on-less-regulation-with-trump.html">CNBC</a>.
Bank of America analyst Ebrahim Poonawala called the election outcome "positive for bank stocks" and predicted a "more balanced regulatory backdrop."
See Also: <a href="https://www.benzinga.com/government/24/11/41783392/jamie-dimon-doesnt-plans-to-join-trump-administration-affirms-commitment-to-jpmorgan">Jamie Dimon Doesn&#8217;t Plan To Join Trump Administration, Affirms Commitment to JPMorgan</a>
Jaret Seiberg, an analyst at TD Cowen, noted that a Trump presidency could mean reduced scrutiny from the Consumer Financial Protection Bureau (CFPB).
&#8220;Donald Trump is the candidate where you ignore what he says and focus on what you expect him to do," Seiberg wrote in a client note, adding that Trump's regulators would likely scale back on CFPB enforcement and reassess capital requirements for big banks.
Seiberg also pointed out that banks might benefit from lower capital requirements, stable credit card fee policies and friendlier crypto regulations. However, he cautioned that Trump's stance on tariffs and immigration could create inflationary pressures.
Price Action: JPMorgan Chase shares closed Wednesday up 11.5% at $247.06, Bank of America shares closed up 8.38% at $45.39 and Wells Fargo shares closed the day up 13.2% at $72.54 according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro.</a>
Photo: Shutterstock.

JPMorgan, Bank Of America And Wells Fargo Shares Surged Wednesday: Here's Why

- American Bankers Association Event, <a href="https://www.aba.com/training-events/conferences/annual-convention/program" title="https://www.aba.com/training-events/conferences/annual-convention/program">https://www.aba.com/training-events/conferences/annual-convention/program</a>

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Federal Reserve

U.S. Treasury's Yellen Says Have Been Hearing From Banks That Burdens Of Regulatory Compliance Have Become Quite Extraordinary; Predisposed Towards Robust Capital And Liquidity Requirements To Ensure That Banking System Can Support The Economy; Sound Banking System Helped U.S. To Weather Covid-Related Financial Turbulence; Hopes Tailoring Of Regulations Can Help Reduce Compliance Burdens For Smaller Banks

To gain an edge, this is what you need to know today.
<figure class="wp-block-image size-large is-resized"><img decoding="async" src="https://thearorareport.com/wp-content/uploads/2024/10/2024-10-16_08h22_51.png" alt="" style="width:624px" /></figure>
<h4 class="wp-block-heading">Stock Market Direction</h4>
Please <a href="https://thearorareport.com/chart-analysis-stock-market-king-nvidia-technicals-asml-earnings-nvda-mc-10162024">click here</a> for an enlarged chart of NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>).
Note the following:
<ul>
<li>This article is about the big picture, not an individual stock. The chart of NVDA stock is being used to illustrate the point.</li>
<li>The chart shows that after a strong rally NVDA stock entered the resistance zone.</li>
<li>The rally was triggered by Jensen Huang's comment that the demand for Blackwell was insane.</li>
<li>The chart shows that NVDA was not able to penetrate the resistance zone.</li>
<li>The chart shows when NVDA started backing off from the resistance zone, aggressive selling came in.</li>
<li>The chart shows that NVDA is now below the bottom band of the resistance zone but still considerably above the mini support zone shown on the chart.</li>
<li>RSI on the chart shows that NVDA stock had become extremely overbought. Overbought stocks tend to pullback. This is exactly what happened. The chart shows the pullback has relieved the extreme overbought condition.</li>
<li>The chart shows that the volume on the pullback was not low. This indicates that investors should not dismiss this pullback.</li>
<li>In addition to the technical reason for the pullback, there is a fundamental reason. The fundamental reason is earnings from Dutch semiconductor equipment company ASML Holding NV (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>). ASML has an almost monopoly on extreme ultraviolet lithography equipment needed for manufacturing Nvidia's chips. ASML stock fell 16% on the heaviest volume in 10 years. The big disappointment in ASML earnings was that ASML is forecasting 2025 sales of 30B &#8211; 35B euros vs. consensus of 35.8B euros.</li>
<li>In The Arora Report analysis, the reaction in NVDA stock to ASML's forecast is an overreaction.  ASML is seeing strong AI demand. The weakness is from other chip segments.  </li>
<li>It is important to note that the demand for Blackwell is so strong that Nvidia is fully booked for the next 12 months.&nbsp;&nbsp;</li>
<li>To a large degree, what happens to NVDA next will determine the fate of tech stocks until big tech earnings come along.&nbsp; If NVDA stock breaks above the resistance zone, it will be positive not only for tech stocks but for the entire stock market.</li>
<li>Most semiconductor stocks have been hit. Semiconductor bears are questioning the staying power of the semiconductor rally.</li>
<li>Among earnings of note, Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) reported earnings better than the consensus. MS earnings are important because MS has large investment banking, trading, and wealth management businesses. Previously Goldman Sachs Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), JPMorgan Chase &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), and Bank of America Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) also reported good earnings. This indicates that the fundamentals of the financial sector are strong. As most investors are focused on tech, prudent investors should have some diversification in the financial sector.  As full disclosure, JPM and BAC are in The Arora Report&#8217;s ZYX Buy Core Model Portfolio. Bank ETF SPDR S&amp;P Bank ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KBE#NYSE">KBE</a>) is in The Arora Report&#8217;s ZYX Allocation Core Model Portfolio.</li>
<li>We have been sharing with you the rising yields on long bonds. Now, it is spilling into mortgage rates. Mortgage rates hit the highest since August.  Mortgage refinancing demand fell 26% week-to-week. Refinancing is very sensitive to interest rates.</li>
<li>Yesterday, we shared with you that Alphabet Inc Class C (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) was going nuclear to obtain power for AI data centers.&nbsp; Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) is now signing an agreement with Dominion Energy Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/D#NYSE">D</a>) to explore developing a small modular reactor near North Anna nuclear station.</li>
</ul>
<h3 class="wp-block-heading">U.K.</h3>
In the U.K., new data shows that inflation is running below 2% for the first time since 2021.
<ul>
<li>CPI came at 0.0% month-over-month vs. 0.1% consensus.</li>
<li>CPI came at 1.7% year-over-year vs. 1.9% consensus.</li>
</ul>
Historically, the U.K. has preceded the U.S. by several months. For this reason, it is important to pay attention to U.K. economic data.
<h3 class="wp-block-heading">Magnificent Seven Money Flows</h3>
In the early trade, money flows are positive in NVDA and Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>).
In the early trade, money flows are neutral in Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Alphabet Inc Class C (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>).
In the early trade, money flows are negative in Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), and Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>).
In the early trade, money flows are neutral in SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>).
<h3 class="wp-block-heading">Momo Crowd And Smart Money In Stocks</h3>
Investors can gain an edge by knowing money flows in SPY and QQQ.  Investors can get a bigger edge by knowing when smart money is buying stocks, gold, and oil.  The most popular ETF for gold is SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>).  The most popular ETF for silver is iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>). The most popular ETF for oil is United States Oil ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>).
<h3 class="wp-block-heading">Bitcoin</h3>
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) bulls are excited.&nbsp; Bitcoin gurus are proclaiming that this time bitcoin is going to breakout and rocket to $100K.&nbsp; Bitcoin is trading above $67K as of this writing.
<h3 class="wp-block-heading">Protection Band And What To Do Now</h3>
It is important for investors to look ahead and not in the rearview mirror.
Consider continuing to hold good, very long term, existing positions. Based on individual risk preference, consider a protection band consisting of cash or Treasury bills or short-term tactical trades as well as short to medium term hedges and short term hedges. This is a good way to protect yourself and participate in the upside at the same time.
You can determine your protection bands by adding cash to hedges. The high band of the protection is appropriate for those who are older or conservative. The low band of the protection is appropriate for those who are younger or aggressive. If you do not hedge, the total cash level should be more than stated above but significantly less than cash plus hedges.
A protection band of 0% would be very bullish and would indicate full investment with 0% in cash. A protection band of 100% would be very bearish and would indicate a need for aggressive protection with cash and hedges or aggressive short selling.
It is worth reminding that you cannot take advantage of new upcoming opportunities if you are not holding enough cash.  When adjusting hedge levels, consider adjusting partial stop quantities for stock positions (non ETF); consider using wider stops on remaining quantities and also allowing more room for high beta stocks. High beta stocks are the ones that move more than the market.
<h3 class="wp-block-heading">Traditional 60/40 Portfolio</h3>
Probability based risk reward adjusted for inflation does not favor long duration strategic bond allocation at this time.
Those who want to stick to traditional 60% allocation to stocks and 40% to bonds may consider focusing on only high quality bonds and bonds of five year duration or less. Those willing to bring sophistication to their investing may consider using bond ETFs as tactical positions and not strategic positions at this time.
The Arora Report is known for its accurate calls. The Arora Report correctly called the big artificial intelligence rally before anyone else, the new bull market of 2023, the bear market of 2022, new stock market highs right after the virus low in 2020, the virus drop in 2020, the DJIA rally to 30,000 when it was trading at 16,000, the start of a mega bull market in 2009, and the financial crash of 2008. Please click here to sign up for a free forever <a href="https://thearorareport.com/generate-wealth-newsletter-benzinga">Generate Wealth Newsletter</a>.

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King Nvidia Technicals Will Determine The Stock Market Direction — Overreaction To ASML Earnings

Jamie Dimon, CEO of JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), issued a stark warning about challenges that <a href="https://www.benzinga.com/startups/24/10/41122659/jamie-dimon-slams-early-career-private-equity-moves-saying-it-puts-us-in-a-bad-position">could affect the U.S. economy</a>.
What Happened: In the bank&#8217;s third-quarter earnings release, Dimon highlighted several critical global risks that could disrupt both economic and geopolitical stability.
Dimon, who heads the nation&#8217;s largest bank, noted concerns around slowing inflation, fiscal deficits, and global trade disruptions, and warned that geopolitical instability could have profound long-term consequences, Fox Business <a href="https://www.foxbusiness.com/economy/jamie-dimon-warns-critical-issues-could-affect-us-economy">reports</a>. He noted the importance of preparing for unpredictable outcomes.
Dimon also pointed to the need for a robust approach to handling infrastructure needs and warned that remilitarization efforts globally could increase instability.
&#8220;We have been closely monitoring the geopolitical situation for some time, and recent events show that conditions are treacherous and getting worse,&#8221; Dimon said in the news release.
Also Read: <a href="https://www.benzinga.com/personal-finance/24/10/41291074/dimon-calls-out-red-tape-says-its-deeply-frustrating-america-isnt-solving-its-problems">Dimon Calls Out Red Tape – Says It&#8217;s &#8216;Deeply Frustrating&#8217; America Isn&#8217;t Solving Its Problems</a>
&#8220;There is significant human suffering, and the outcome of these situations could have far-reaching effects on both short-term economic outcomes and more importantly on the course of history,&#8221; he added. 
While acknowledging the resilience of the U.S. economy, Dimon – who has been floated as a possible future Treasury secretary or Federal Reserve chair – said that the U.S. must get its fiscal house in order.
&#8220;Additionally, while&nbsp;inflation is slowing&nbsp;and the U.S. economy remains resilient, several critical issues remain, including large fiscal deficits, infrastructure needs, restructuring of trade and remilitarization of the world,&#8217; Dimon said. 
&#8220;While we hope for the best, these events and the prevailing uncertainty demonstrate why we must be prepared for any environment,&#8221; he added. 
Read Next
<a href="https://www.benzinga.com/general/politics/24/10/41192406/jamie-dimon-rejects-trump-endorsement-claim-casting-doubt-on-treasury-rumors">Jamie Dimon Rejects Trump Endorsement Claim, Casting Doubt On Treasury Rumors</a>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Jamie Dimon Warns Of Global Risks To Economy: 'Treacherous And Getting Worse'

Bank of America has <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41003610/veteran-investor-mark-moss-predicts-bitcoin-to-surge-to-300k-if-donald-trump-wins-the-elec">spotlighted three sectors</a> that could benefit from the Federal Reserve&#8217;s rare dual approach of rate cuts and rising corporate profits.
What Happened: Savita Subramanian, BofA&#8217;s head of U.S. equity and strategy, referred to this situation as a &#8220;rare double whammy of stimulus&#8221; during her <a href="https://www.youtube.com/watch?v=n-vbFcslt8Q">appearance</a> on CNBC on Monday. 
She recommended investors focus on value stocks in real estate, financials, and energy sectors.
Subramanian noted that value stocks, which trade below their fundamental value, tend to outperform when profits rise and rates fall. This scenario reduces the need for hedging and encourages investment in higher-upside names.
&#8220;I think about where these assets sitting in retiree accounts and money market funds are going; I think they&#8217;re going into safe, stable income. That&#8217;s more value than growth,&#8221; she said.
Real estate benefits from significant investments in data centers, crucial for artificial intelligence infrastructure, while financials and energy sectors have improved their quality and capital returns since the last decade. 
Subramanian emphasized the appeal of high dividends in these sectors as short-term yields decline, making dividend-yielding stocks attractive for income-seeking investors.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41081939/trump-wants-us-to-be-bitcoin-mining-capital-of-the-world-core-scientifics-move-to-buy-chip?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Wants US To Be Bitcoin Mining Capital Of The World</a>
The following ETFs are notable performers within their respective sectors. In the real estate category, iShares Core U.S. REIT ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USRT#NYSE">USRT</a>), Schwab U.S. REIT ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHH#NYSE">SCHH</a>), and SPDR DJ Wilshire REIT ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RWR#NYSE">RWR</a>) stand out as top options.
In the financial sector, SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>), iShares U.S. Regional Banks ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAT#NYSE">IAT</a>), and SPDR S&amp;P Bank ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KBE#NYSE">KBE</a>) have emerged as leading performers. 
For those looking into energy investments, Direxion Energy Bull 2X Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ERX#NYSE">ERX</a>), Fidelity MSCI Energy Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FENY#NYSE">FENY</a>), and SPDR Select Sector Fund &#8211; Energy Select Sector (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) represent some of the top options.
Why It Matters: The identification of these value sectors comes at a time of significant economic and political uncertainty. Investors are currently grappling with U.S. economic uncertainty, shifts in Federal Reserve policy, and the upcoming presidential election.
The CBOE Volatility Index (VIX), a key gauge for measuring protection against <a href="https://www.benzinga.com/markets/24/09/40796352/trump-vs-harris-u-s-stock-market-faces-rising-risks-amid-economic-uncertainty-and-2024-election">stock market fluctuations</a>, has climbed to around 20, a significant rise from its 2024 average of 14.8. This surge in volatility is a typical pattern during election years, as investors weigh the market implications of policy proposals from candidates.
Steve Eisman, known for his role in <a href="https://www.benzinga.com/markets/equities/24/09/40951546/big-short-fame-investor-drops-previous-prediction-of-trump-victory-the-market-is-going-straight-">predicting the 2008 financial crisis</a>, recently withdrew his prediction of a Trump victory, adding uncertainty to market forecasts. 
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/09/41097541/amazon-apple-tesla-brace-for-supply-chain-disruptions-as-potential-east-coast-dockworkers-strike?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Amazon, Apple, Tesla Brace For Supply Chain Disruptions As Potential East Coast Dockworkers Strike Nears</a></li>
</ul>
Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

Long Ideas

Trading Ideas

FENY

iShares Dow Jones US Regional Banks Index Fund

SCHH

USRT

BofA Highlights 3 Value Sectors Amid Fed's 'Rare Double Whammy' Of Stimulus

U.S. Treasury Secretary Yellen Says Banking System Is Well Capitalized

Macro Notification

China's Financial Regulator Says Banks Are Encouraged To Support Loan Renewals For Borrowers Facing Temporary Financial Difficulties; Medium-Sized Firms With Working Capital Loans Due By Sept 30, 2027, May Receive Renewal Support Similar To That Available For Small And Micro Firms

FDIC Board Votes 3-2 To Adopt Bank Merger Guidance

FDIC Board To Vote On Bank-Merger Guidelines At Meeting Tuesday

Fed's Barr Says Will Propose Updating GSIB Surcharge To Account For Changes In Inflation And Economic Growth Under New Proposal; New Basel Draft Would Revise All Major Areas Of Original Plan, Including Operational, Market And Credit Risk Following Industry Criticism

Global

Fed's Barr Says Basel And GSIB Surcharge Re-Proposals Would Together Increase Capital For GSIBs By 9%, Original Plan Had Raised Their Capital By 19%; He Will Recommend Regulators Re-propose 'Basel Endgame' And Global Systemically Important Banks Surcharge Bank Capital Rules; Changes To Basel Re-Proposal Would Exempt Banks Under $250B In Assets From Most New Requirements Except For Recognizing Unrealized Gains And Losses Of Securities

China's Central Bank Issues Gold Import Quotas to Several Banks After Temporary Pause

Legal

SEC Chair Gary Gensler To Testify At Senate Banking In September

Fed's Logan Says Making Progress In Getting Banks Ready To Use Discount Window; Fed Emergency Lending Programs Have Been Effective; All Eligible Banks Should Be Prepared For Discount Window; If Using Reciprocal Deposits, Should Raise FDIC Limits

U.S. banks showed a strong comeback over the past week on bullish fundamentals in the space amid market rotation into undervalued segments. The probability of Donald Trump returning to the White House has risen significantly along with a Fed rate cut in September. Both are favorable for the banking sector. The robust second-quarter results of the banks also added to the strength.
Given the optimism, bank ETFs soared to a new one-year high. First Trust NASDAQ ABA Community Bank Index Fund (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qaba#NASDAQ">QABA</a>) was the biggest winner, jumping 16.2% in a week. This was followed by gains of 15% for Invesco KBW Regional Banking ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/kbwr#NASDAQ">KBWR</a>), 14.8% for SPDR S&amp;P Regional Banking ETF (ARCA:KRE), 13.3% for SPDR S&amp;P Bank ETF (ARCA:KBE) and 11% for iShares U.S. Regional Banks ETF (ARCA:IAT).
<h3>Trump Trade Resurge</h3>
The banks are well-positioned to benefit from Trump&#39;s deregulation and lower corporate tax policies. One of the most notable potential benefits for banks would come from Trump&#39;s focus on deregulation. During his first term, Trump&#39;s administration rolled back several regulations that were imposed after the 2008 financial crisis. This deregulation reduced compliance costs and increased profit margins for banks. A second Trump term could see a continuation or even an expansion of these deregulatory efforts, providing a more favorable operating environment for financial institutions.
<h3>Fed Rate Cut Bets</h3>
The latest inflation data and Fed Chairman Jerome Powell&#39;s recent hints have bolstered bets that the central bank will act by September. Powell said the Fed wouldn&#39;t wait for inflation to get to its 2% target before it began cutting because of the lag effects of tightening. Traders are now 100% certain that the Federal Reserve will cut interest rates by September, per CME Group.
A rate cut after two years of tightening would be a big relief for midsize banks, which are struggling with the impact of high rates on their profits and their borrowers. Lower rates will brighten the lenders&#39; earnings outlook in the coming quarters.
<h3>Solid Earnings</h3>
Big banks like Bank of America&nbsp;and Morgan Stanley&nbsp;saw a spike in their share prices on robust quarterly results. U.S. Bancorp and Citizens Financial Group also rose on positive quarterly results.
We have profiled the abovementioned ETFs below: 
First Trust NASDAQ ABA Community Bank Index Fund&nbsp;&ndash; 52-Week High: $53.87
First Trust NASDAQ ABA Community Bank Index Fund offers exposure to the largest banks and thrifts or their holding companies that are designated as banks by the Industry Classification Benchmark. It tracks the NASDAQ OMX ABA Community Bank Index, holding 125 stocks in its basket.
First Trust NASDAQ ABA Community Bank Index Fund has accumulated $62.9 million in its asset base and trades in a volume of around 14,000 shares a day on average. It charges 60 bps in annual fees and has a Zacks ETF Rank #3 (Hold) with a High risk outlook.
Invesco KBW Regional Banking ETF &ndash; 52-Week High: $57.40
Invesco KBW Regional Banking ETF offers exposure to publicly traded U.S. regional banking and thrift companies by tracking the KBW Nasdaq Regional Banking Index. It holds 51 stocks in its basket, with none accounting for more than 4% of the assets.
Invesco KBW Regional Banking ETF is a relatively less popular and less liquid option in the space, with AUM of $53.8 million and an average daily volume of 4,000 shares. It charges 35 bps in fees per year from investors and has a Zacks ETF Rank #4 (Sell) with a High risk outlook.
SPDR S&amp;P Regional Banking ETF &ndash; 52-Week High: $57.10
SPDR S&amp;P Regional Banking ETF provides exposure to the regional banks segment by tracking the S&amp;P Regional Banks Select Industry Index. It holds 141 stocks in its basket, with each accounting for no more than 2.3% of the assets.
SPDR S&amp;P Regional Banking ETF has AUM of $2.8 billion and charges 35 bps in annual fees. It trades in an average daily volume of 12 million shares and has a Zacks ETF Rank #4 (Sell) with a High risk outlook.
SPDR S&amp;P Bank ETF &ndash; 52-Week High: $53.19
SPDR S&amp;P Bank ETF offers equal-weight exposure to 92 banking stocks by tracking the S&amp;P Banks Select Industry Index. Regional banks dominate the portfolio with a 73.9% share, while diversified banks, commercial &amp; residential mortgage finance, diversified financial services and asset management &amp; custody banks take the remainder.
SPDR S&amp;P Bank ETF has amassed $1.6 billion in its asset base while trading in a heavy volume of 1.4 million shares a day, on average. The product charges 35 bps in annual fees and has a Zacks ETF Rank #2 (Buy) with a High risk outlook.
iShares U.S. Regional Banks ETF &ndash; 52-Week High: $47.08
iShares U.S. Regional Banks ETF offers exposure to 35 small and mid-cap regional bank stocks by tracking the Dow Jones U.S. Select Regional Banks Index. It is largely concentrated on the top three firms with a double-digit allocation each.
iShares U.S. Regional Banks ETF has amassed $604.2 million in its asset base while seeing a good volume of 153,000 shares a day. The product charges 40 bps in annual fees and has a Zacks ETF Rank #3 with a High risk outlook.
<a href="https://www.zacks.com/stock/news/2304444/bank-etfs-soar-on-trump-trade-september-rate-cut-bets?cid=CS-BENZ-FT-etf_news_and_commentary-2304444">To read this article on Zacks.com click here.</a>

Earnings

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KBWR

First Trust NASDAQ ABAmmunity Bank Index Fund

QABA

Bank ETFs Soar on Trump Trade, September Rate Cut Bets

Fed's Powell Says Relying On Banking Agencies To Lead Fight On Climate Change Is A Big Mistake; Fed Won't Force Banks To Adopt Climate Transition Plans; We Are Not Climate Policymakers And Don't Have That Mandate; Key To Our Independence Is Sticking To The Job Given By Congress; Fed Can Only Ensure Banks Are Able To Absorb Costs Of Climate Change

Fed's Powell Says High Fixed Costs From Regulation Might Drive U.S. Banking Sector Consolidation; Banks Also Consolidating To Manage Technology Costs

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Trump Trade 2.0 starting with unified government but higher inflation, yields vs. TT 1.0

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Banking systems is 'sound and resilient,' but CRE, cyber risks bear watching, Fed's Barr says

Banking systems is 'sound and resilient,' but CRE, cyber risks bear watching: Fed's Barr

Taking Note Of Market Patterns

Goldman CEO Solomon: We're going to have more robust capital markets in 2025

Community Bank Earnings Will Recover Despite Weaker Credit, Sticky Deposit Costs

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