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NEW YORK (Reuters) - The steep slowdown in momentum stocks over the last week has been especially painful for ARK Invest’s Cathie Wood, the top stock picker of 2020.
FILE PHOTO: Dividers are seen inside a trading post on the trading floor as preparations are made for the return to trading at the New York Stock Exchange (NYSE) in New York, U.S., May 22, 2020. REUTERS/Brendan McDermid/File Photo
The $26.6 billion ARK Innovation ETF, which analysts say is beloved by retail investors, is down nearly 11% over the last week, nearly 10 times the slide in the benchmark S&P 500, as companies in its portfolio, like Tesla Inc, have stumbled. The fund has large positions in so-called momentum stocks, which tend to attract investors based on thematic trends rather than fundamentals or valuation.
CFP Board Forms New Commission to Review Sanction Guidelines and Fitness Standards
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WASHINGTON, Feb. 1, 2021 /PRNewswire/ Certified Financial Planner Board of Standards, Inc. (CFP Board) announced today that it has formed a new 15-member Commission on Sanctions and Fitness. This new Commission will review and recommend changes to CFP Board s
Sanction Guidelines and
Fitness Standards ).
Code of Ethics and Standards of Conduct. The
Fitness Standards apply to those seeking CFP
® certification, while the
Sanction Guidelines apply to those who are certified. This new commission is fundamental to CFP Board s ongoing work to strengthen the enforcement processes for our
Stock market news live updates: Stocks mixed, Nasdaq hits record closing high as traders digest Fed decision, stimulus talks Emily McCormick
Stocks were mixed Wednesday as traders considered lawmakers’ final efforts to get a stimulus package through before year-end, and digested the Federal Open Market Committee’s December monetary policy decision.
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The Nasdaq rose to a fresh record close, and the S&P 500 ticked up to end just short of a record closing high. The Dow came under pressure and closed out the session slightly lower. The moves also came after the Commerce Department released a much weaker-than-expected print on November retail sales, which showed a sharper drop in consumer spending than anticipated as new virus-related restrictions came into effect.