[ad_1]
(This is a wrap-up of the key money moving discussions on CNBC’s “Worldwide Exchange” exclusive for PRO subscribers. Worldwide Exchange airs at 5 a.m. ET each day.) Wedbush makes the case for some cybersecurity and gaming stocks. State Street talks about a new record for the widely held SPDR S & P 500 Trust. Worldwide Exchange Picks: Rubrik, CyberArk, Take-Two Joel Kulina of Wedbush expects cybersecurity spending to remain resilient even if there is a major economic slowdown or recession, citing data from CIO surveys. “Spending revisions are heading lower, but the one standout remains cybersecurity. That’s one area people can’t afford to cut,” Kulina said. He added that CyberArk and Rubrik have clear upside potential. “These are companies that are going to benefit from continued product innovations and shifts to Gen AI workloads.” Kulina also expects Take-Two Interactive to get a boost from the release of “Grand Theft Auto VI” that is scheduled for fall 2025. “It’s going to be the biggest game that comes out in at least the past decade. Grand Theft Auto 5 was released in 2013, we know the anticipation is the video game community is massive. It’s a nice catalyst fundamental driven story,” said Kulina. Long 2-year Treasury notes? Chris Verrone of Strategas thinks the tariff uncertainty is potentially creating an opportunity in Treasurys because it could force the Federal Reserve to cut rates. “I like the 2-year note, long here. I know yields bounced yesterday I think that is short lived, that was some ‘sell what you can’ mentality,” Verrone said. “Ultimately, the Fed has to go here and it has to go more than people ultimately expect.” Apple’s 3-day slide Apple shares have fallen 19% and lost $638 billion in market cap in the last three trading days — the worst 3-day performance since 2001, according to Goldman Sachs. Wedbush’s Kulina laid out why he thinks there are more compelling stories in big tech despite the declines. “Slowing innovation, especially around the product side of things… Apple Intelligence has just been a dud, they unveiled last June, never have gained any traction with that product as well.” SPY ETF Hits New Record The SPY ETF , which tracks the S & P 500, set a new record for volume for any ETF in a single day on Monday with nearly $127 billion in shares traded, according to State Street Global Advisors.
[ad_2]
Source link
