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	A major European neo-banking start-up company, Bunq BV, is set to expand its footprints in the U.S.  
	On Tuesday, the company applied for a banking license in the U.S., targeting to serve 5 million European emigrants and businesses in the U.S. 


European Digital Bank Bunq Forays Into US With Promise Of Better Service

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The Silicon Valley Bank implosion created a domino effect, with regional bank stocks selling off to levels not seen in years.

Want Diversified Exposure In Regional Banks? Try These ETFs

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Macro Economic Events

Economics

Federal Reserve

KBWR

UWMC

Minutes from the latest FOMC meeting will be released on Wednesday, opening a window into the conversation that led Fed officials to decide on a 0.25% hike on the federal funds rate 

FOMC Minutes: What To Look For When Details From The Latest Fed Meeting Drop Wednesday

<ul>
<li>A major European neo-banking start-up company,&nbsp;Bunq BV, is set to expand its footprints in the U.S.&nbsp;&nbsp;</li>
<li>On Tuesday, the company applied for a banking license in the U.S., targeting to serve 5 million European emigrants and businesses in the U.S.&nbsp;</li>
<li>Amid the collapse of&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/04/31622709/rich-dad-poor-dad-author-says-this-global-central-bank-could-be-next-domino-to-fall-we-havent-seen-t" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Silicon Valley</a>&nbsp;in the U.S. last month, the company is capitalizing on the opportunity to enter the U.S. banking industry with better offers and customized solutions.</li>
<li>Bunq focuses on simplifying the banking experience for Europeans in the U.S. by offering better interest rates than traditional banks and catering to Europeans&#39; needs of maintaining deposit insurance limits of up to &euro;100,000.</li>
<li>Its customized app offers a free savings account facility, with an option to unlock advanced features at a monthly subscription of &euro;3 -&euro;18 per month.</li>
<li>The initiative will aid Bunq in maintaining its growth stream as it attained a milestone of &euro;2.3 million profit in the fourth quarter of 2022.</li>
</ul>

The Silicon Valley Bank implosion created a domino effect, with regional bank stocks <a href="https://www.marketbeat.com/originals/2-banking-stocks-in-buying-zones-amid-market-sell-off/?focus=NYSE:BAC">selling off</a> to levels not seen in years. The key word here is <a href="https://www.marketbeat.com/originals/is-fifth-third-bancorp-a-stalwart-among-regional-banks/?focus=NYSE:CS">contagion</a> and the fear of it. <a href="https://www.marketbeat.com/originals/is-fifth-third-bancorp-a-stalwart-among-regional-banks/?focus=NYSE:CS">Regional banks</a> have seen deposits being pulled in record numbers to be redeposited with the bigger banks. First Republic Bank (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/frc#NYSE">FRC</a>) saw $70 billion in withdrawals, causing a bank run after Silicon Valley Bank was seized.
Conversely, central <a href="https://www.marketbeat.com/originals/these-indicators-suggest-further-upside-at-bank-of-america/?focus=NYSEARCA:KRE">money center banks</a> like Bank of America Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bac#NYSE">BAC</a>) reported $15 billion in new deposits afterward. Charles Schwab Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/schw#NYSE">SCHW</a>) reported over $16 billion in customer deposits. With regional banks falling over 25% this year, many investors may see this as an opportunity to step in at cheaper valuations. Rather than invest in any single stock, investors may consider diversifying with regional bank exchange-traded-funds (ETFs) to spread out the risk to many different bank stocks. Here are two ETFs that fit the bill.
<img alt="" src="https://www.marketbeat.com/logos/articles/med_20230326134944_chart-kre-1.jpg" style="height:841px; width:915px" />
<h2>SPDR S&amp;P Regional Banking ETF (ARCA: KRE) </h2>
This ETF is the pulse of the regional bank segment. KRE tracks the performance of the regional banks in the S&amp;P Total Market Index. It is incredibly liquid, trading over 45 million shares daily. It has 146 holdings with an average price-earnings (PE) ratio of 6.98 and a price-book (PB) ratio of 0.89. It has a weighted average market cap of approximately $6.1 billion. KRE has a 3.38% annual dividend yield. However, the risk is spread out since it&#39;s not concentrated heavily in any one bank.
<h2>Top Holdings </h2>
KRE has New York Community Bancorp Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nycb#NASDAQ">NYCB</a>) as its top holding with a 3.99% portfolio weighting. The company acquired certain Signature Bank assets, including deposits and some loans, which sent shares surging over 35% higher. It&#39;s one of the few <a href="https://www.marketbeat.com/originals/go-where-the-money-is-heres-3-top-bank-dividend-stocks-to-buy/">regional bank</a> stocks that are positive, up 3.5% on the year. NYCB received multiple upgrades following the well-received strategic move. Wedbush upgraded NYCB to Outperform with an $11 price target. D.A. Davison upgrades to a Buy with an $11.50 price target. Wedbush resumed with a Strong Buy and $13 price target.
Citizens Financial Group Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cfg#NYSE">CFG</a>) is the second-largest weight at 2.97%. The bank is reportedly bidding to acquire the private banking unit of the defunct Silicon Valley Bank. The bank saw revenues climb 28% YoY and net interest income spike 51% in Q4 2022. Operating expenses rose 19% YoY as net interest margins fell by (64 bps). Weak mortgage banking led to a drop of (16%) in fee-based non-interest income.
<h2>Weekly Descending Triangle Breakdown </h2>
Most regional bank stocks have a similar weekly candlestick chart pattern of a descending triangle or rectangle breakdown. KRE displays a weekly descending triangle breakdown. Shares collapsed through the weekly market structure low (MSL) trigger at&nbsp; $57.96 and gained selling momentum, crashing through its flat bottom trendline at $55.90 as the weekly stochastic turned back down on March 6, 2023. KRE had seven lower lows but may attempt to put in a lower MSL trigger if it can form a higher low on a weekly candle. Pullback support levels are $39.21, $37.53, $33.06, and $31.49.
<img alt="" src="https://www.marketbeat.com/logos/articles/med_20230326135002_chart-qaba-2.jpg" style="height:834px; width:915px" />
<h2>First Trust NASDAQ ABA Community Bank Index Fund (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qaba#NASDAQ">QABA</a>) </h2>
&nbsp;For investors that want to branch further out in the banking sector to even less volatile community banks, then QABA may fit the bill. QABA tracks the NASDAQ OMX ABA Community Bank index and pays a 2.73% annual dividend yield. This ETF is not as sensitive to sector sentiment like the KRE. This is evidenced by the performance of both. QABA is down (16.5%) versus KRE down (25%) for the year. It has a 2.53% annual dividend yield. The fund has 151 holdings. With less than $63 million in assets under management (AUM), the liquidity can be thin trading under 100,000 shares daily. &nbsp;
<h2>Top Holdings </h2>
QABA top three holdings include Commerce Bancshares Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cbsh#NASDAQ">CBSH</a>) with a 3.76% portfolio weighting, Bok Financial Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bokf#NASDAQ">BOKF</a>) with a 2.97% weighting, and South State Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ssb#NASDAQ">SSB</a>) with a 2.88% weighting. Community banks seem to be somewhat sheltered from the panic selling in regional banks as evidenced by smaller declines. CBSH is down (14.5%) as its Q4 2022 revenues rose 10% YoY. It has a strong core deposit base as net interest income rose 22% YoY and net interest margin grew by 17 bps to 3.18%. Operating expenses rose 6% YoY.
<h2>Weekly Descending Triangle Breakdown</h2>
The weekly candlestick chart on QABA has a (surprise, surprise) weekly descending triangle breakdown. While the pattern is identical to the KRE, the magnitude of the drop is relatively smaller. The triangle formed after peaking at $57.44 in November 2022. Shares fell to the low of $50.46 in December 2022.
The weekly MSL formed at $52.72 and triggered twice to peak out at lower highs forming the falling trendline of the triangle. The breakdown occurred on March 6, 2023, as shares collapsed through the flat bottom trendline at $50.46. Like the KRE, QABA is also seeking a MSL trigger to form on the next higher low weekly candle. Pullback levels sit at $41.40, $38.44, $36.87, and $35.15.
The article &quot;<a href="https://www.marketbeat.com/originals/want-diversified-exposure-in-the-regional-banks-try-these-etfs/">Want Diversified Exposure in the Regional Banks? Try These ETFs</a>&quot; first appeared on MarketBeat.
Photo: Shutterstock

Minutes from the latest FOMC meeting will be released on Wednesday, opening a window into the conversation that led Fed officials to decide on<a href="https://www.benzinga.com/news/23/02/30651947/federal-reserve-downshifts-to-0-25-central-banks-pace-of-interest-rate-hikes-slows-with-inflation"> </a>a 0.25% hike on the federal funds rate <a href="https://www.benzinga.com/news/23/02/30651947/federal-reserve-downshifts-to-0-25-central-banks-pace-of-interest-rate-hikes-slows-with-inflation">earlier this month.</a>
The Fed&#39;s Interest Rate Path: The Federal Open Market Committee is the body in charge of deciding the federal funds rate, which has a direct impact on interest rates and is the Fed&#39;s main tool for correcting the course of inflation.
In their last meeting, the FOMC&#39;s 12 members decided to dial down the rate of hikes for the second time in a row, to 0.25% after a previous hike of 0.5% which was preceded by four consecutive hikes of 0.75%. The current rate stands between 4.5% and 4.75%.
While <a href="https://www.benzinga.com/economics/23/02/30671873/investors-want-lower-interest-rates-but-the-federal-reserve-doesnt-heres-why">investors are hoping</a> for the Fed to start dialing back on the federal funds rate, <a href="https://www.benzinga.com/news/23/02/30676509/new-fed-hike-on-interest-rates-chief-economists-agree-the-end-of-the-hike-cycle-is-near">economists forecast further hikes</a> of 0.25%.
The S&amp;P 500&nbsp;was falling by almost 2% Tuesday after the holiday weekend, as investors anticipate the minutes from the meeting might lend a glimpse into future Fed policy. It should be noted the market reacted positively to the last release of FOMC minutes, climbing 4.5% in the 10&nbsp;days following the release.
The Inflationary Backdrop:&nbsp;The Fed is walking a tightrope as it tries to limit economic growth to bring down inflation while not falling into a recession. <a href="https://www.benzinga.com/news/23/01/30280485/fed-minutes-getting-inflation-under-control-still-likely-to-take-some-time">In the latest minutes release</a> &mdash;published in January, with details from December&#39;s meeting &mdash; Fed officials agreed that a less hawkish stance on hikes was needed but expressed concern the financial markets might interpret this as a sign that the agency&#39;s commitment to bring down inflation is flagging.
Officials expressed the need to navigate a sensible course of hikes <a href="https://www.benzinga.com/government/23/02/30946283/2-million-people-would-lose-their-jobs-by-year-end-fed-official-forecast-says-how-might-this-be-avoi">without generating devastating effects on the job market</a> that could end up hurting the most vulnerable sectors of society through extreme levels of unemployment.
Stocks To Watch When&nbsp;The Fed Publishes&nbsp;FOMC Minutes: Investors will be keeping an eye on companies affected by shifts in interest rates (often called interest-sensitive stocks), as the Fed publishes the minutes at 2 p.m. ET on Wednesday.
The banking sector is first in line to be impacted by changes in the federal funds rate, yet banking ETFs have shown signs of strength after the most recent Fed catalysts. On Feb. 1, when Fed Chair Jerome Powell announced the latest hike in interest rates, Invesco KBW Regional Banking ETF (NASDAQ:&nbsp;<a class="ticker" href="https://www.benzinga.com/stock/KBWR#NASDAQ">KBWR</a>) jumped 6.8% between the two days leading up to the announcement and the day after. The same ETF dropped slightly after the minutes from the previous meeting went live in early January, but was already up 2.4% two days later.
Other banking ETFs, including First Trust NASDAQ ABA Community Bank Index Fund (NASDAQ:&nbsp;<a class="ticker" href="https://www.benzinga.com/stock/QABA#NASDAQ">QABA</a>) and SPDR S&amp;P Regional Banking ETF (NYSE:&nbsp;<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>), showed the same patterns.
Mortgage stocks, including Rocket Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RKT#NYSE">RKT</a>) and UWM Holdings Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UWMC#NYSE">UWMC</a>), were not impacted by the last minutes&rsquo; release, but have been trending downward since Feb. 1&nbsp;as the Fed continues&nbsp;to hike interest rates.
The same goes for some <a href="https://www.benzinga.com/money/best-auto-truck-dealerships-stocks">auto dealers</a> like Vroom (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRM#NASDAQ">VRM</a>), which started a downward course after the latest Fed decision was announced but was immune to the FOMC minutes, yet this behavior was not ubiquitous across the sector.
Photo: federalreserve.gov.

CNBC
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/05/27365346/analysts-see-gpus-premium-cpus-pcs-cars-toys-consumer-electronics-get-costlier-as-tsmc-samsung-intel" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Analysts See Consumer Electronics Get Costlier As Major Chipmakers TSMC, Samsung, Intel Boost Prices</a>
<ul>
<li>Analysts suggested that products relying on semiconductors will likely get more costly as chip foundries prepare to increase their prices, CNBC reports.</li>
<li>Global semiconductor lead at Accenture Plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/acn#NYSE">ACN</a>) saw the magnitude of any price increases depending upon the share of semiconductor cost in the overall product cost, the ability of manufacturers to cut costs in other areas, and the competitive landscape of each product category.</li>
<li>Products using more advanced chips like GPUs (graphics processing units) and high-end CPUs (central processing units) are likely to go up in price, unlike smartphones which saw reduced demand, Alam said.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/05/27364300/volkswagen-likely-to-overtake-tesla-on-ev-sales-by-2025-cnbc" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Who Can Beat Tesla On EV Sales? This Company CEO Believes So</a>
<ul>
<li>Volkswagen AG (OTC: <a class="ticker" href="https://www.benzinga.com/stock/vwagy#OTC">VWAGY</a>) CEO Herbert Diess said Volkswagen can overtake Tesla, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) as the world&rsquo;s largest seller of electric vehicles by 2025, CNBC reported.</li>
<li>Stabilizing supply chain woes would help the German carmaker to increase production in the coming months, the CEO said.</li>
<li>He expects some relief from the semiconductor supply market to occur in the middle of 2022.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/05/27355857/why-is-airbnb-exiting-the-chinese-domestic-market" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Why Is Airbnb Exiting The Chinese Domestic Market?</a>
<ul>
<li>Sources tell CNBC that Airbnb Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/abnb#NASDAQ">ABNB</a>) is shutting down its domestic business in China.</li>
<li>According to two sources, the company plans to remove all of its listings in China by this summer, CNBC reports. Employees of Airbnb in China will be informed of the decision as early as Tuesday morning.</li>
<li>The company plans to maintain a presence in the country, with hundreds of employees working out of an office in Beijing. Even though Airbnb is ending its listings in mainland China, sources say providing homes and experiences for those traveling abroad will become the company&rsquo;s focus.</li>
</ul>

Reuters
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/05/27362884/heres-where-samsung-looks-to-invest-356b-over-five-years" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Samsung Looks To Invest $356B Over Five Years in Next-Gen Technologies - Here&rsquo;s Why</a>
<ul>
<li>Samsung Electronics Co, Ltd (OTC: <a class="ticker" href="https://www.benzinga.com/stock/ssnlf#OTC">SSNLF</a>) looks to invest 450 trillion won ($356 billion) in the next five years to accelerate growth in semiconductors, biopharmaceuticals, and other next-generation technologies.</li>
<li>The investments through 2026 will likely help Samsung drive long-term growth in strategic areas like the chip sector while pledging aggressive investments in the biopharmaceutical sector.</li>
<li>Samsung clarified that 80% of investments catered to South Korea, and the investment includes a 240 trillion won investment pledge made in August 2021.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/22/05/27365173/who-says-monkeypox-outbreak-unusual-but-containable-reuters" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">WHO Says Monkeypox Outbreak&rsquo; Unusual&rsquo; But &lsquo;Containable&rsquo;</a>
<ul>
<li>The World Health Organization (WHO) said that there had been 131 confirmed monkeypox cases and 106 further suspected cases, Reuters reported.</li>
<li>While the outbreak is unusual, the WHO said it remains &ldquo;containable&rdquo; and limited. It convenes further meetings to support member states with more advice on how to tackle the situation.</li>
<li>The majority of the recent cases have been reported in Europe.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/05/27364427/toyota-motor-plans-100-000-production-cut-in-june" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">This Auto Giant Cuts Production Plans Citing Parts Shortage - Read More For Details</a>
<ul>
<li>Toyota Motor Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tm#NYSE">TM</a>) plans to cut global production by about tens of thousands of units to roughly 850,000 vehicles in June due to the semiconductor shortage.</li>
<li>The auto major expects to produce 9.7 million units for the full period of the fiscal year 2023.</li>
<li>The average global production plan from June through August is around 850,000 units.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/05/27364672/semperis-a-cybersecurity-business-raised-more-than-200m-in-a-funding-round-led-by-kkr" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">This Cybersecurity Firm Raised Significant Amount In KKR Led Funding Round - Read How Much</a>
<ul>
<li>Semperis, a cybersecurity software startup based in the United States, has announced a $200 million funding round led by private equity firm KKR &amp; Co Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kkr#NYSE">KKR</a>) at a significantly higher valuation than its previous round.</li>
<li>Existing investors such as Insight Partners and new investors such as Ten Eleven Ventures joined KKR in the round, according to Semperis.</li>
<li>KKR invested through its Next Generation Technology Growth Fund II, which raised $2.2 billion from investors in January 2020.</li>
</ul>

Bloomberg
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/05/27365339/wall-street-bank-lobby-protests-debut-of-feds-backed-digital-dollar" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Big Wall Street Banks Do Not Want Fed-Backed Digital Dollar Crypto Alternative - Read Why</a>
<ul>
<li>Wall Street bankers are urging the U.S. government to postpone the debut of a digital dollar, arguing that a virtual currency backed by the Federal Reserve will drain hundreds of billions of dollars from the banking system.</li>
<li>According to the American Bankers Association and the Bank Policy Institute, an American central bank digital currency, or CBDC, would be a direct rival to private bank deposits, making credit less available to businesses and households.</li>
<li>&ldquo;As we have evaluated the likely impacts of issuing a CBDC it has become clear that the purported benefits of a CBDC are uncertain and unlikely to be realized, while the costs are real and acute,&rdquo; the ABA said in a May 20 letter to the Fed.</li>
</ul>

Financial Times
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/05/27364437/sec-working-on-pending-rules-on-misleading-esg-investment-claims-ft" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">SEC Working On Pending Rules On Misleading ESG Investment Claims</a>
<ul>
<li>Securities and Exchange Commission is preparing rules to specify disclosures to be made by investment funds with terms such as environmental, social, and governance (ESG), sustainable, or low-carbon in their names.</li>
<li>Financial Times writes that the broader ESG investing category covers environmental and climate considerations, &ldquo;impact&rdquo; investing for the social good, and funds that screen out industries such as tobacco or firearms.</li>
<li>On Monday, SEC announced a $1.5 million legal settlement, first related to funds&rsquo; ESG descriptions, against BNY Mellon&rsquo;s investment adviser division over allegations of misstating and omitting information about ESG criteria for mutual funds it managed.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/05/27364454/amazon-in-trouble-as-shareholders-seek-to-question-pay-tax-working-conditions" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Amazon Shareholders Seek To Question Pay, Tax, Working Conditions in CEO Andy Jassy&rsquo;s First Annual Meet</a>
<ul>
<li>Amazon.com Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>) shareholders look to challenge its executive pay, tax transparency, working conditions, and unionization as CEO Andy Jassy faces his first annual meeting. </li>
<li>The Amazon Labor Union leader Chris Smalls will call Amazon to issue a report detailing its &ldquo;freedom of association&rdquo; policies and collective bargaining.</li>
<li>Influential investor advisory groups Institutional Shareholder Services (ISS) and Glass Lewis backed a proposal for a racial equality audit and independent audit on working conditions at Amazon facilities that Norwegian pension fund Norges Bank agreed to support.</li>
</ul>

Benzinga
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/05/27362728/nio-eyes-vertical-integration-with-proposed-battery-assembly-pilot-plant-and-testing-labs-in-shangha" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Nio To Invest $32M Toward Vertical Integration Of Battery Manufacturing: Report</a>
<ul>
<li>Nio, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nio#NYSE">NIO</a>) is pursuing vertical integration amid the supply crunch and input price inflation.</li>
<li>The Chinese electric vehicle startup is planning to set up lithium-ion battery labs and a pilot production line for batteries in Shanghai, the CnEVPost reported, citing an environment assessment report filed with the local municipal body.</li>
<li>The company plans to invest about 218.5 million yuan ($32.75 million) in the plant and commence construction between August and October.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/05/27362832/dogecoin-slides-in-early-trading-what-you-need-to-know" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Dogecoin Daily: Price Slumps Again, Declining Trader Sentiment And More</a>
<ul>
<li>Dogecoin DOGE/USD traded 3.2% lower at $0.08 over 24 hours leading up to early Tuesday morning.</li>
<li>DOGE traded lower in tandem with other major coins as the global cryptocurrency market cap slipped 3.4% to $1.3 trillion at press time.</li>
<li>DOGE was among the most mentioned coins on Twitter at press time. The three most mentioned coins were Bitcoin, Solana and Terra, according to Cointrendz data.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/05/27365594/whats-new-at-instragam" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Instagram Undergoes Visual Refresh: Here Are The Details</a>
<ul>
<li>True to the adage &ldquo;necessity is the mother of all invention,&rdquo; the necessity to stay alive in the competitive race has led Meta Platforms, Inc.&rsquo;s (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fb#NASDAQ">FB</a>) Instagram app to do a makeover.</li>
<li>Instagram will have a refreshed visual identity, with new colors, typeface, logo and other brand elements, the photo and video sharing app said in a blog post on Monday.</li>
<li>To feel illuminated and alive, Instagram reimagined its gradient using an innovative 3D modeling process, the Facebook parent Meta-owned app said. The illuminated moving gradient signals moments of discovery in its marketing, logo and even in-app, it added.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/cryptocurrency/22/05/27362405/netflix-love-death-robots-features-nft-scavenger-hunt-with-hidden-codes" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Netflix&rsquo;s &lsquo;Love, Death + Robots&rsquo; Features NFT Scavenger Hunt With Hidden QR Codes</a>
<ul>
<li>The new season of Netflix Inc&rsquo;s (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nflx#NASDAQ">NFLX</a>) &lsquo;LOVE, DEATH + ROBOTS&rsquo; (LDR) features a scavenger hunt for nine hidden QR codes. </li>
<li>LDR&rsquo;s official Twitter account tweeted, &ldquo;the hunt begins,&rdquo; as season 3 of the David Fincher-produced adult animated series aired on May 20. </li>
<li>The nine QR codes have been scattered across the shows&rsquo; social media and within the episodes themselves. Users that find the hidden codes can scan them to mint non fungible tokens (NFTs) which will be displayed on their OpenSea accounts.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/05/27362396/nio-rival-xpeng-retains-bullish-rating-from-this-analyst-but-gets-a-7-price-target-cut-heres-why" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Cathie Wood-Backed Tesla Rival Xpeng Gets A 7% Lower Price Target But Why Analyst Is Still Bullish</a>
<ul>
<li>Tesla Inc. (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/tsla#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">TSLA</a>) rival Xpeng Inc (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/xpev#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">XPEV</a>) is expected to overcome near-term COVID-19 lockdown challenges in China on resilient demand, US Tiger Securities Inc said, after the Guangzhou-based electric vehicle maker posted a disappointing delivery forecast for the current quarter.</li>
<li>The Xpeng Analyst: Analyst Bo Pei has maintained a &lsquo;buy&rsquo; rating on the stock but lowered his price target to $40 from $43 &mdash; the second such cut since March.</li>
<li>The Xpeng Thesis: The New York-based analyst said he expects the operating environment to improve meaningfully in the third quarter for the EV maker as China is on track to fully reopen in June.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/05/27362508/snap-ceo-hints-at-hiring-slowdown-and-spending-cuts-after-warning-of-q2-shortfall" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Snap CEO Hints At Hiring Slowdown, Spending Cuts After Warning Of Q2 Shortfall</a>
<ul>
<li>Snap, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/snap#NYSE">SNAP</a>) shares tumbled to a two-year low in after-hours trading on Monday after the Snapchat parent company warned that it might miss its second-quarter guidance.</li>
<li>Following an 8-K filing to this effect, the company&rsquo;s CEO Evan Spiegel reportedly sent an internal memo to employees, seeking to clarify the company&rsquo;s position.</li>
<li>Revenue Slowing: Revenue at Snapchat continues to grow, although, at a slower pace than anticipated, Spiegel said, according to a copy of the memo shared by Bloomberg.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/cryptocurrency/22/05/27362296/lockheed-martin-and-filecoin-explore-hosting-a-blockchain-in-space-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Lockheed Martin And Crypto Firm Explore Hosting A Blockchain In Space</a>
<ul>
<li>Defense contractor Lockheed Martin Corporation (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/lmt#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">LMT</a>) and Filecoin FIL/USD are looking into hosting a blockchain network in outer space.</li>
<li>A Monday report from CoinDesk detailed the partnership between Lockheed Martin and the Filecoin Foundation that was announced at World Economic Forum&rsquo;s annual meeting.</li>
<li>The two organizat=ions have plans to identify a satellite or other space-faring platform capable of supporting an InterPlanetary File System (IPFS) node. The next steps will be to assess the platform&rsquo;s needs and select a test mission.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/05/27342072/apple-files-with-the-fcc-for-mystery-accessory-heres-what-we-know-about-it" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Apple Seeks FCC Approval For &lsquo;Mystery&rsquo; Accessory: Here&rsquo;s What We Know About It</a>
<ul>
<li>Apple, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) is trying to get regulatory approval for a new network adapter that runs its iOS, documents filed with the Federal Communication Commission (FCC) show.</li>
<li>The product, registered under the name A2657, is mentioned as a network adapter belonging to the class of low-power communication device transmitters.</li>
<li>The development was reported earlier by 9to5Mac.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/05/27363570/starlink-rolls-out-new-service-for-rvs-heres-how-it-differs-from-at-home-connection" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Elon Musk&rsquo;s Starlink Internet Service Now Available For RVs: Is It For You?</a>
<ul>
<li>Elon Musk-owned SpaceX&rsquo;s Starlink satellite internet service is now available for recreational vehicles and campers.</li>
<li>Starlink announced the &ldquo;Starlink for RVs&rdquo; service and pitched it as an ideal option for those customers traveling to locations without steady connectivity.</li>
<li>It, however, cautioned that the service is not designed for use while in motion. Sharing the news on Twitter, Musk suggested &ldquo;Starlink for RVs&rdquo; may not be available for cars, given the antennas may be too big to be accommodated.</li>
</ul>
Photo via Wikimedia Commons

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Morning Brief: Top Financial Stories Dominating on Tuesday, May 24

Wall Street bankers are urging the U.S. government to postpone the debut of a digital dollar, arguing that a virtual currency backed by the Federal Reserve will drain hundreds of billions of dollars from the banking system,&nbsp;<a class="editor-rtfLink" href="https://www.bloomberg.com/crypto?sref=TBDibEcD" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">reported Bloomberg</a>.
What happened:&nbsp;According to the American Bankers Association and the Bank Policy Institute, an American central bank digital currency, or CBDC, would be a direct rival to private bank deposits, making credit less available to businesses and households.&nbsp;
&quot;As we have evaluated the likely impacts of issuing a CBDC it has become clear that the purported benefits of a CBDC are uncertain and unlikely to be realized, while the costs are real and acute,&quot; the ABA said in a May 20 letter to the Fed.
&quot;Based on this analysis, we do not see a compelling case for a CBDC in the United States today,&quot; the ABA added.
In March, the White House said in an executive order on&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/money/best-cryptocurrency/" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">cryptocurrency</a>&nbsp;policy that it placed the &quot;highest urgency&quot; on research and the possible development of a U.S. digital dollar.
While supporters say that a Fed-backed digital currency would help ensure the dollar&#39;s dominance while countries like China develop their versions, Wall Street trade groups say that such a step could backfire.
Even if banks and other financial institutions function as intermediaries, any funds placed in a CBDC account by their customers cannot be used to support loans or other economic investments, according to the groups.&nbsp;
Furthermore, the parties believe that capping the size of CBDC accounts to limit fallout will be ineffective. The ABA anticipated that a $2,500 deposit cap would still drain $446 billion from traditional banks, and a $10,000 cap would result in more than $1 trillion in deposits leaving the system.
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US Indices are higher for the session after the US Federal Reserve announced $2.3 trillion in loan programs to further support the economy. Markets have been strong this week amid positive sentiment on hopes of virus cases soon peaking.

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Podcast: Where To Invest To Ride Out The Stock Market Volatility

Financial stocks suffered sell-offs on Friday despite upbeat earnings. Bellwethers like JPMorgan JPM and Citigroup C breezed past the Zacks Consensus Estimate for earnings. Wells Fargo WFC missed revenue estimates but beat on earnings (read: <a href="https://www.zacks.com/stock/news/266082/destress-your-portfolio-by-betting-on-bank-etfs">De-Stress Your Portfolio by Betting on Bank ETFs</a>).
Though there were positive attributes like loan growth and improving net interest spread, the decline in U.S. Treasury yields weighed on the sector. Added to this, a somewhat subdued outlook provided by a few industry leaders led to Friday&#39;s fall in banking shares.
Decline in Yields
The yield on the 10-year note dropped five basis points to <a href="http://www.barrons.com/articles/treasury-yields-fall-on-weak-inflation-retail-sales-1500043779">2.298%</a> on July 14 on downbeat inflation number and retail sales data. This once again stirred speculation over whether the Fed will be able to enact one more rate hike this year. In any case, dovish remarks from Fed chief Yellen kept Treasury yields at check (read: <a href="https://www.zacks.com/stock/news/267490/dovish-yellen-testimony-to-boost-these-etfs">Dovish Yellen Testimony to Boost These ETFs</a>).
The Fed chair has full faith in the U.S. economic growth momentum with a solid labor market, though she remains cautious about subdued inflation and wage growth. Yellen indicated that since the neutral rate &ndash; at which economic growth matches its <a href="http://www.livemint.com/Money/h1V1HCFCeDWeRYbTh7E2eI/What-is-the-neutral-real-interest-rate.html">potential and inflation</a> &ndash; &quot;is currently quite low by historical standards, the federal funds would not have to rise all that much further to get to a neutral policy stance.&quot;
Inside Doubtfulness Tied to the Outlook 
J.P Morgan expects net interest income to grow by $4 billion this year, down from the prior guidance of $4.5 billion, due to a combination of mortgage adjustments, weakness in markets-related income, and an unexpected slump in 10-year bond yields, as per an article published on <a href="https://www.reuters.com/article/us-usa-banks-results-idUSKBN19Z1QY">Reuters</a>. Shares of JPM were down 0.9% on July 14.
Reuters went on to explain that Citi Group depends less on deposits from consumers, who have not required higher rates as fast as institutional customers. Notably, a huge portion of Citigroup&#39;s loan growth originated from credit cards which are devoid of balances and thus do &quot;not earn interest from those loans.&quot; Shares of Citigroup lost about 0.5% on July 14.
Wells Fargo benefited from higher interest rates but &quot;<a href="http://www.foxbusiness.com/features/2017/07/14/news-highlights-top-financial-services-news-day2.html">stagnant lending</a> and weaker revenue in areas like mortgage banking&quot; were concerns. Wells Fargo witnessed a slump in car loans and tighter lending standards hurt the segment, going by article published on <a href="http://www.bbc.com/news/business-40605426">BBC News</a>. WFC lost about 1.1% on July 14.
PNC Financial PNC also came up with an impressive scorecard but dampened <a href="https://www.reuters.com/article/us-usa-banks-results-idUSKBN19Z1QY">analysts&#39; mood</a> as it did not beef up its guidance. The stock shed over 0.1% on July 14.
Banking ETFs&#39; Performance
The largest financial ETF Financial Select Sector SPDR Fund XLF lost over 0.4% on July 14. Banking ETFs like SPDR S&amp;P Regional Banking ETFKRE, PowerShares KBW Bank Portfolio ETF (KBWB, iShares U.S. Regional Banks ETF (IAT), SPDR S&amp;P Bank ETF KBE and First Trust NASDAQ ABA Community Bank Index Fund (QABA) shed about 0.6%, 0.8%, 0.7%, 0.5% and 0.9%, respectively, on July 14 (see <a href="https://www.zacks.com/funds/etfs/etf-categories/Financials-ETFs-12">all financial ETFs</a>).
What Lies Ahead?
Overall, the banking sector is on growth path. JP Morgan reported a <a href="http://www.bbc.com/news/business-40605426">4.7%</a> year-over-year increase in total net revenues to $26.4 billion for the second quarter of the year. An 8% jump in interest income spurred by rising rates and an advancement in the number of loans facilitated revenue improvement.
There was also a double-digit uptick in J.P. Morgan&#39;s card sales and merchant processing volumes. Citigroup reported 2% year-over-year expansion in revenues to $17.9 billion helped by the retail division and investment banking.
Investors should note that major banks are expected to report about 4.5% earnings growth in the second quarter of 2017. Zacks Industry Rank for banks is still in the top 28%. Still, the interest rate is the key risk in the space, which is why the Zacks Sector Rank for banks is in the bottom 25%.
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Earnings

Why Bank ETFs Fell On Friday Despite Decent Earnings

The financial services sector has been scorching hot over the past two months, and with the sector&#39;s earnings season in full bloom, some short sellers are taking the opportunity to prepare for pullbacks.
<h3>Exposed: Between Bases</h3>
That includes rising short interest in smaller, community banks that have been particularly hot since Election Day. These banks are considered rate-sensitive and have subsequently benefited from the Federal Reserve&#39;s lone interest rate hike of 2016 last month. Additionally, speculation that the Fed is on course to raise rates several times this year has lifted exchange-traded funds such as the First Trust NASDAQ ABA Comm Bnk Indx Fnd (NASDAQ: <a class="ticker" href="/stock/qaba#NASDAQ">QABA</a>).
<h3>Root For The Home Team</h3>
Underscoring it sensitivity to rising Treasury yields, QABA is up 50.4 percent over the past year compared to a gain of almost 35 percent for the Financial Select Sector SPDR Fund (NYSE: <a class="ticker" href="/stock/xlf#NYSE">XLF</a>), the largest financial services ETF, over the same period.
However, QABA&#39;s recent bullishness and that of many of its 160 components could be encouraging short sellers to target smaller community banks. On the other hand, <a href="http://www.benzinga.com/trading-ideas/long-ideas/16/12/8824316/taking-what-they-want-and-leaving-modest-departures-from-bank">the rally in these stocks</a> is also forcing rampant short covering.
&ldquo;Banks, especially smaller regional institutions, have disproportionally felt this rally and we&rsquo;ve witnessed large portions of short covering among many of the eight heavily shorted banks announcing earnings this week, all of whom are on the smaller end of the banking sector,&rdquo; according to a recent note by <a href="http://www.markit.com/Commentary/Get/16012017-Equities-Most-shorted-ahead-of-earnings">Markit</a>.
<h3>The Lineup</h3>
QABA tracks the NASDAQ OMX ABA Community Bank Index. In addition to meeting operating history and solvency requirements, member firms of QABA&#39;s index &ldquo;must have a market capitalization of at least $200 million and a three-month average daily dollar trading volume of at least $500 thousand,&rdquo; according to First Trust.
Community banks are seen as prime beneficiaries of higher interest rates. Simply put, net interest margins at regional banks have been suppressed by the Fed&#39;s zero interest rate policy and reversing that policy is seen as an important catalyst in boosting profits for the banks in ETFs such as QABA.
Of the 16 most shorted North American stocks with earnings dates this week, eight are smaller banks and four are QABA constituents. Each of those names delivers earnings on Thursday.
Last year, investors added $113.6 million in new capital to QABA, representing a significant portion of the ETF&#39;s $415.3 million in assets under management.
Disclosure: Todd Shriber owns shares of XLF.

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Previews

Shorts In A Pickle With A Hot ETF's Holdings

On Monday, 13 exchange-traded funds hit 52-week lows and four, or nearly a third, were financial services funds. Members of that dubious quartet were ETFs with significant exposure to regional banks, an industry that has seen rapidly eroding share prices in recent weeks.
The SPDR KBW Regional Banking (ETF) (NYSE: <a class="ticker" href="/stock/kre#NYSE">KRE</a>), the largest regional bank ETF, has tumbled 17.2 percent over the past month, closing Tuesday less than 3 percent above its recently touched 52-week low.
 The First Trust NASDAQ ABA Community Bnk Indx Fnd (NASDAQ: <a class="ticker" href="/stock/qaba#NASDAQ">QABA</a>) has bled 13 percent over the past month and resides just four percent above its 52-week low. Other regional bank ETFs are sporting similarly dour statistics and less-than-encouraging technical outlooks.
<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/news/16/01/6172895/whats-really-weighing-on-financial-services-etfs">What's Really Weighing On Financial Services ETFs</a></bzrelatedlink>
<h3>More Than Treasury Yields' Decline</h3>
It is not just declining Treasury yields that are hampering interest rate-sensitive regional bank stocks and ETFs. Oil prices are playing a part in these declines, too.
&ldquo;While major US banks recently <a href="http://www.ft.com/cms/s/0/bc7dca78-bb9e-11e5-a7cc-280dfe875e28.html#axzz3xs4ys6K0">disclosed</a> the damage caused to date by their respective exposure to US Energy as they provisioned for bad loans, questions still <a href="http://www.zerohedge.com/news/2016-01-16/exclusive-dallas-fed-quietly-suspends-energy-mark-market-tells-banks-not-force-shale?_sm_au_=icVWDq4nRRWJbHS0">circle</a> over the mark-to-market standards in the wake of oil&rsquo;s decade low slump. This has seen short sellers circle banking institutions with regional banks leading the negative sentiment,&rdquo; said <a href="http://www.markit.com/Commentary/Get/25012016-Equities-Shale-oil-spilling-over-into-regional-banks">Markit</a> in a new research note.
The research firm pointed out that short interest in Texas-based Cullen/Frost Bankers, Inc. (NYSE: <a class="ticker" href="/stock/cfr#NYSE">CFR</a>) has recently surged and BOK Financial Corp. (NASDAQ: <a class="ticker" href="/stock/bokf#NASDAQ">BOKF</a>), parent company of Bank of Oklahoma, &ldquo;underestimates credit losses ahead of earnings.&rdquo; Those stocks are familiar faces in a slew of regional bank ETFs.
&ldquo;Since the beginning of 2015, average short interest across North American banks has increased by 30 percent, reaching 2 percent of shares outstanding on loan. Regional banks have led the surge forward with the firms that make up the iShares US Regional Banks ETF now seeing 3.5 percent of their shares out on loan, up from 2.5 percent in early 2015,&rdquo; added Markit.
<h3>IAT And USO</h3>
Markit noted that the iShares Dow Jones US Reg Banks Ind.(ETF) (NYSE: <a class="ticker" href="/stock/iat#NYSE">IAT</a>) has recently been tracking the United States Oil Fund LP (ETF) (NYSE: <a class="ticker" href="/stock/uso#NYSE">USO</a>). Over the past 90 days, IAT is off 13.1 percent, while USO is lower by 35.1 percent. What is concerning there is that IAT is heavily allocated to super regionals such as U.S. Bancorp (NYSE: <a class="ticker" href="/stock/usb#NYSE">USB</a>) and PNC Financial Services Group Inc (NYSE: <a class="ticker" href="/stock/pnc#NYSE">PNC</a>).
IAT&#39;s 54 holdings are primarily large-cap stocks whereas other regional bank ETFs tilt more toward mid- and small-cap banks.

Intraday Update

Fed Isn't The Only Problem For Regional Bank ETFs

In a week light on economic data points, but also one where the Federal Reserve again figured prominently into the equation, the S&amp;P 500 mustered enough strength to close at a record high.

	So did the Dow Jones Industrial Average and the Nasdaq Composite jumped to a new 52-week high. Oh and by the way, earnings season got going.

	With that in mind, ETFs traders and investors should note that prior to the start of this earnings season, downbeat revisions reached a multi-year. At the sector level, some analysts do not expect much in the way of positive surprises, just opportunities to look for those groups that are less bad than others. With 70 S&amp;P 500 components reporting this week, investors will have plenty of chances to do just that.

	Economic data due out this week includes retail sales Monday and June consumer prices and housing starts later in the week. Indeed, this should be an eventful week the following ETFs and plenty of others, as well.

	Financial Select Sector SPDR (NYSE: <a class="ticker" href="/stock/xlf#NYSE">XLF</a>) 
	Or any bank ETF for that matter. Bank earnings season got rolling in earnest last Friday when J.P. Morgan Chase (NYSE: <a class="ticker" href="/stock/jpm#NYSE">JPM</a>) and Wells Fargo (NYSE: <a class="ticker" href="/stock/wfc#NYSE">WFC</a>) delivered results. Those two stocks combine for nearly 17 percent of XLF's weight, but a slew of other XLF constituents, including more of the ETF's top-10 holdings are scheduled to report this week.

	That list includes Goldman Sachs (NYSE: <a class="ticker" href="/stock/gs#NYSE">GS</a>), Citigroup (NYSE: <a class="ticker" href="/stock/c#NYSE">C</a>) and Bank of America (NYSE: <a class="ticker" href="/stock/bac#NYSE">BAC</a>). Financial services ETFs, including XLF, have been among the top-performing sector funds this year so a batch of negative earnings and guidance could threaten near-term risk appetite.

	Add the SPDR S&amp;P Regional Bank ETF (NYSE: <a class="ticker" href="/stock/kre#NYSE">KRE</a>) and the First Trust NASDAQ ABA Community Bank Index Fund (NASDAQ: <a class="ticker" href="/stock/qaba#NASDAQ">QABA</a>) to the list of financial services ETFs that should be monitored in the week ahead.

	Vanguard Information Technology ETF (NYSE: <a class="ticker" href="/stock/vgt#NYSE">VGT</a>) 
	Just as it is a pivotal week for bank earnings, the same can be said of the technology sector, the largest sector weight in the S&amp;P 500. Here is the skinny: This week investors will be treated to results from Google (NASDAQ: <a class="ticker" href="/stock/goog#NASDAQ">GOOG</a>), Intel (NASDAQ: <a class="ticker" href="/stock/intc#NASDAQ">INTC</a>), Microsoft (NASDAQ: <a class="ticker" href="/stock/msft#NASDAQ">MSFT</a>) and International Business Machines (NYSE: <a class="ticker" href="/stock/ibm#NYSE">IBM</a>). Those stocks combine for nearly a quarter of VGT's <a href="https://personal.vanguard.com/us/FundsQuarterEndHoldings?FundId=0958&amp;FundIntExt=INT">weight at the end of the first quarter</a>.

	With the Nasdaq running to a new 52-week, VGT and its rivals have been decent performers in recent weeks as the Vanguard offering is up nearly 3.1 percent in the past month. Investors looking <a href="http://www.benzinga.com/trading-ideas/long-ideas/13/07/3749727/these-etfs-are-full-of-recent-dividend-raisers">to participate in tech dividend growth</a> should opt for the First Trust NASDAQ Technology Dividend Index Fund (NASDAQ: <a class="ticker" href="/stock/tdiv#NASDAQ">TDIV</a>).

	iShares U.S. Healthcare Providers ETF (NYSE: <a class="ticker" href="/stock/ihf#NYSE">IHF</a>) 
	Starting with Thursday's report from Dow component United Health (NYSE: <a class="ticker" href="/stock/unh#NYSE">UNH</a>), all of the iShares U.S. Healthcare Providers ETF's top-10 holdings report results over the next two weeks. In what has been an excellent year for health care ETFs, IHF <a href="http://www.benzinga.com/news/earnings/13/02/3301711/big-week-looming-for-insurance-etfs">a direct Obamacare play</a> has stood tall with a gain of nearly 25 percent.

	In the past 90 days, IHF is up about 13.1 percent, more than double the gain of the Health Care Select Sector SPDR (NYSE: <a class="ticker" href="/stock/xlv#NYSE">XLV</a>). XLV itself is worth trading this week with top holding Johnson &amp; Johnson (NYSE: <a class="ticker" href="/stock/jnj#NYSE">JNJ</a>) reporting before the bell Tuesday.

	For more on ETFs, click <a href="http://www.benzinga.com/etfs">here</a>.

Broad U.S. Equity ETFs

Specialty ETFs

New ETFs

Emerging Market ETFs

Currency ETFs

Events

Pre-Market Outlook

GOOG

iShares Dow Jones US Health Care Provides Index Fund

INTC

MSFT

TDIV

A Look Ahead: This Week's ETFs to Watch

It has been a wild ride for investors in 2011, but when all is said and done, the top performers in terms of sector ETFs this year aren't likely to surprise anyone. Well, one might be a surprise, but the others not so much.

Using SPDRs as our reference point, we find the Utilities Select Sector SPDR (NYSE: <a class="ticker" href="/stock/xlu#NYSE">XLU</a>) is up about 12% year-to-date. The Consumer Staples Select Sector SPDR (NYSE: <a class="ticker" href="/stock/xlp#NYSE">XLP</a>) is up nearly 9%. The Health Care Select Sector SPDR (NYSE: <a class="ticker" href="/stock/xlv#NYSE">XLV</a>) is up about 7% while the Consumer Discretionary Select Sector SPDR (NYSE: <a class="ticker" href="/stock/xly#NYSE">XLY</a>), the sort of surprise, is up about 5%. All this while the SPDR S&amp;P 500 (NYSE: <a class="ticker" href="/stock/spy#NYSE">SPY</a>) is flat year-to-date.

With 2012 being an election year, it's possible investors will remain pensive, further boosting the returns of funds like XLP and XLU. Or maybe Europe will get its act together and the U.S. economy will improve to the point where risk on really comes back on.

Either way, there are scores of sector funds that will be in the spotlight next year. Here are 12 that could have big things ahead of them in 2012. In no particular order.

iShares Dow Jones US Oil Equipment Index Fund (NYSE: <a class="ticker" href="/stock/iez#NYSE">IEZ</a>):
The iShares Dow Jones US Oil Equipment Index Fund's 2011 performance thus far can be viewed in two lights. Impressive that the ETF is only down 1% or depressing that it's down at all considering oil prices remain high by historical standards. The impact of the North American shale boom is arguably priced into many oil services stocks, so IEZ's 2012 fortunes may be more levered to increased demand in international such as Latin America and Russia. 

One thing to consider: IEZ will not be left behind if oil prices keep climbing. At less than $56 with the potential to see $75 or higher, IEZ looks good here.

Global X Uranium ETF (NYSE: <a class="ticker" href="/stock/ura#NYSE">URA</a>):
We recently argued that things <a href="">probably can't get any worse for URA</a>. Really, it's hard to imagine that happening. The fundamental out look for the nuclear energy space is strong enough that at less than $9, URA could have savvy investors laughing all the way to the bank next year.

Market Vectors Junior Gold Miners ETF (NYSE: <a class="ticker" href="/stock/gdxj#NYSE">GDXJ</a>):
There has been a lot of talk of gold miners not performing as well as the yellow metal itself this year. The Market Vectors Junior Gold Miners ETF is certainly guilty of that. However, what makes GDXJ all the more vexing is that miners have started to get their act together, but in the past three months the ETF is down over 21% while the Market Vectors Gold Miners ETF (NYSE: <a class="ticker" href="/stock/gdx#NYSE">GDX</a>) is only down 10%. Simply stated, risk on needs to come back on in 2012 to lift GDXJ.

Consumer Staples Select Sector SPDR 
We just mentioned XLP as one of the top performers among sector ETFs in 2011, but this run might not be in the late innings. Not if 2012 mirrors 2011 even slightly. XLP might be a good play for the first half of 2012 as that's when most of the ETF's large holdings that pay dividends raise those payouts.

iShares Dow Jones Transportation Average (NYSE: <a class="ticker" href="/stock/iyt#NYSE">IYT</a>):
With all the economic bellwethers found in this ETF, IYT's fortunes are arguably the market's fortunes. Plus, it's THE ETF for all the Dow theorists out there. Should IYT break support in the $82 area, it could be a bumpy ride for this fund to start 2012. 

iShares Nasdaq Biotechnology ETF (Nasdaq: <a class="ticker" href="/stock/ibb#Nasdaq">IBB</a>):
We can say one thing for the iShares Nasdaq Biotechnology ETF: It has performed quite well this year, up over 9%. And we can say one thing for the biotech sector: There are always trades to be had. Home to 122 stocks, IBB has plenty of buyers and sellers for biotech consolidation, of which there should be some next year. The ETF is a buy if you can get it on a pullback to $95.

iShares S&amp;P Global Financials ETF (NYSE: <a class="ticker" href="/stock/ixg#NYSE">IXG</a>):
We could have gone with an ETF that only tracks U.S. banks or one that only tracks non-U.S. banks, but since almost ALL large banks have been stinking up the joint for over a couple of years now, IXG and its 220 stocks make life easy for those that like to be involved with financials. Germany, France and Spain account for 9% of IXG's country weight and unless things change quickly, that will be a problem next year.

First Trust ISE Cloud Computing Index Fund (Nasdaq: <a class="ticker" href="/stock/skyy#Nasdaq">SKYY</a>):
Much has been made of niche sector ETFs like the First Trust ISE Cloud Computing Index Fund. Critics love to assail these ETFs, saying they're not necessary. Well, someone likes SKYY because it has accumulated over $65 million in assets under management since its July debut. The growth of cloud-computing and the potential for industry consolidation make SKYY an interesting sub-sector play in 2012.

Global X Social Media ETF (Nasdaq: <a class="ticker" href="/stock/socl#Nasdaq">SOCL</a>):
Talk about a tech ETF that has been under fire, hating on the Global X Social Media ETF is like a sport for some pundits. We beg to <a href="">differ</a>. With the looming Facebook IPO, SOCL could be legitimized sooner than later. Frankly, this is a sound concept and there's no legitimate reason to bash this fund. If the alpha is there, investors will come.

SPDR S&amp;P Oil &amp; Gas Exploration &amp; Production ETF (NYSE: <a class="ticker" href="/stock/xop#NYSE">XOP</a>):
There are lots of energy ETFs. Roughly 80 if we're trying to be somewhat precise. Few offer the combination of exposure to integrated oil stocks, independent producers and mid-cap M&amp;A targets as XOP does. Plus, XOP is valid way of getting exposure to just about every shale play in the U.S. and the ETF's volatility is great for short-term traders. For those that handle the volatility, XOP could see the $70 area in a favorable market next year.

First Trust NASDAQ ABA Community Bank ETF (Nasdaq: <a class="ticker" href="/stock/qaba#Nasdaq">QABA</a>):
QABA isn't the newest ETF on our list, but it might be the most obscure. It only has $12.6 million in AUM and average daily trade of less than 2,600 shares. On the bright side, QABA has outperformed the ETFs tracking major bank stocks this year and most of its holdings have not been dividend offenders. If you're going to dance with devil, er financial sector ETFs, QABA merits consideration.

Guggenheim Solar ETF (NYSE: <a class="ticker" href="/stock/tan#NYSE">TAN</a>):
We debated including an ETF that trades for less than $5 on this list, but after being one of the worst-performing ETFs in 2011, things have to get better for TAN next year, right? Not necessarily. If the things don't get sunny fast for solar stocks, TAN's race to $0 will only be prevented by a reverse split, an event that probably should have happened already.

Futures

Technicals

Commodities

Market Vectors ETF Trust Market Vectors Gold Miners

GDXJ

iShares Dow Jones US Oil Equipment & Services Index Fund

iShares Trust S&P Global Financials Sector Index Fund

iShares Dow Jones Transportation Average Index Fund

SKYY

SOCL

Select Sector SPDR-Consumer Discretionary

Twelve For '12: Sector ETFs to Watch In The New Year 

In a world where total products now number above 1,200 and assets under management reside north of $1.1 trillion, the exchange traded products business is anything but perfect. For the most part, ETF issuers have done a fine job of bringing new funds to market that investors respond well to.

Of course that is key because weak volume plus weak AUM is a toxic brew that leads many ETFs to the exchange traded products dumpster, graveyard or another unsavory metaphorical destination. 

Simply put, with over 1,200 ETF and ETNs on the market today, there are a few turkeys. Here's is the ETF Professor's list of ETFs we can do without, in no particular order and with no preference given to issuers.

1) First Trust Nasdaq ABA Community Bank Index Fund (Nasdaq: <a class="ticker" href="/stock/qaba#Nasdaq">QABA</a>):
QABA made its debut in July 2009, probably not the best time to bring an ETF to market that tracks financials. Thinking that QABA's timing in terms of debut is a factor in its poor statistics is just speculation, but we know this much: QABA has less than $14 million in AUM and trades just 3,333 shares per day.

2) ELEMENTS Global Warming Index ETF (NYSE: <a class="ticker" href="/stock/gwo#NYSE">GWO</a>):
Maybe GWO would be a viable ETF if Al Gore resided in the White House. Alas, he does not and GWO is plagued with less than $3 million in AUM. That's not good for an ETF that is over three-years old. 

3) PowerShares Dynamic Insurance Portfolio (NYSE: <a class="ticker" href="/stock/pic#NYSE">PIC</a>):
The insurance business just isn't dynamic enough for multiple ETFs (pun intended). While PowerShares has plenty of interesting ETFs among its vast lineup, PIC isn't one of them and the ETF has not proven to be a viable rival to the SPDR KBW Insurance ETF (NYSE: <a class="ticker" href="/stock/kie#NYSE">KIE</a>). Approaching its sixth birthday, PIC has just $9.44 million in AUM.

4) WisdomTree Dreyfus Japan Yen ETF (NYSE: <a class="ticker" href="/stock/jyf#NYSE">JYF</a>):
Another fine example of what happens when two ETFs try to serve the same niche and one fails miserably. JYF has average daily volume of less than 2,500 shares. On the other hand, the CurrencyShares Japanese Yen Trust (NYSE: <a class="ticker" href="/stock/fxy#NYSE">FXY</a>) has average daily volume of over 267,000 shares.

5) PAX MSCI EAFE ESG Index ETF (NYSE: <a class="ticker" href="/stock/eaps#NYSE">EAPS</a>):
ESG stands for environmental and social governance, meaning EAPS is a play on the slippery slope of socially responsible investing. That kind of makes one wonder why coal and oil names can be found among the fund's holdings. EAPS is not a pure equity play as 20% of its assets can be invested in derivatives instruments. EAPS has been around for 16 months and has less than $3 million in AUM.

EAPS

PowerShares ETF Trust Dynamic Insurance Portfolio

Do We Really Need These ETFs?

DENT

First Trust STOXX European Select Dividend Income Fund

Rydex ETF Trust Rydex S&P Equal Weightnsumer Staples ETF

ETF Deathwatch for May 2011: DENT Joins the Watch

“Banking is a great business, if you don’t try too hard,” a retired bank community CEO with a strong southern accent told me once. What? Be lazy? I was always taught to do my best… to try my(...)Read the rest of Banking Advice That Keeps Ringing In My Head (XLF, QABA, C, BAC) 
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Banking Advice That Keeps Ringing In My Head (XLF, QABA, C, BAC)

A Year On, SVB's Killer Is Still At Large

This week's financial landscape was marked by a blend of bullish sentiment in specific sectors and commodities, countered by volatility in the cryptocurrency market and cautiousness in the real estate and health sectors.