Wall Street Today: US investors cut leverage for first time since pandemic

Asia set for cautious start amid Hawkish Fed views: Markets Wrap

Asian stocks are set for a cautious start Friday as traders weigh hawkish Federal Reserve comments ahead of the Jackson Hole symposium and geopolitical tension following blasts in Afghanistan.

Futures were steady for Japan and Hong Kong but lower for Australia. U.S. contracts inched higher. The S&P 500 fell from a record overnight, in part as some Fed officials said the time to start tapering stimulus is near. Meanwhile, President Joe Biden vowed retaliation for deadly blasts outside Kabul airport that stoked tension as the U.S. evacuates the area. The dollar held a climb.

Fund named MEME ,is on the way to surf the retail investor waves

Investors looking to capitalize on this year’s meme-stock mania without having to scour Reddit message boards may soon be able to through an exchange-traded fund.

The Roundhill MEME ETF will screen stocks based on their social media activity and levels of short interest, according to a Securities and Exchange Commission filing Thursday. The ETF will rebalance every two weeks based on the holdings’ "social media score" over a trailing 14-day period.

World's largest chip maker to raise prices, threatening costlier electronics

The world's largest contract chip maker is raising prices by as much as 20%, according to people familiar with the matter, a move that could result in consumers paying more for electronics.

Razer, which makes laptops, PC peripherals and other products for gamers, is currently listed in Hong Kong. But the company was founded in the U.S., where it also headquartered, and makes most of its revenue there.

"I've definitely considered" a secondary listing in the U.S., Tan said in an interview. Gamers are asking "daily" why Razer doesn't already trade on a U.S. exchange, he added.

Wave of expiring treasury options adds risk to Jackson Hole

A flood of Treasury options set to expire Friday may dictate the bond market’s reaction to Federal Reserve Chair Jerome Powell's long-awaited speech on the economic outlook.

More than 2 million options in the September 10-year contract, which is 63% of total options open interest in Treasuries, expire by the end of trading Friday, raising the prospect for volatility in the wake of Powell's remarks scheduled to start at 10 a.m. New York time.

Wavering US investors cut leverage for first time since start of pandemic

Investors in the US have started to dial back their use of leverage for the first time since financial markets were rattled by the coronavirus crisis last year, removing some of the borrowed money that has since fuelled a rally in stocks.

The New York-based company forecast revenue of $800m in its fiscal first quarter ending on September 30, missing expectations of $1bn, according to analysts polled by Refinitiv.