By Arjun Panchadar and Ross Kerber(Reuters) - Four major U.S. public funds that hold shares in Facebook Inc on Wednesday proposed removing Chief Executive Officer Mark Zuckerberg as chairman following several high-profile scandals and said they hoped to gain backing from larger asset managers.State treasurers from Illinois, Rhode Island and Pennsylvania, and New York City Comptroller Scott Stringer, co-filed the proposal. They oversee money including pension funds and joined activist and original filer Trillium Asset Management.A similar shareholder proposal seeking an independent chair was defeated in 2017 at Facebook, where Zuckerberg's majority control makes outsider resolutions effectively symbolic. Rhode Island State Treasurer Seth Magaziner said that the latest proposal was still worth filing as a way of drawing attention to Facebook's problems and how to solve them."This will allow us to force a conversation at the annual meeting, and from now until then in the court of … [Read more...] about At Facebook, public funds join push to remove Zuckerberg as chairman
Vanguard total stock market index fund
Index Funds: Dow Stocks Hold Solid Gains, But Small Caps Weaken
Key index funds pared some of their gains Tuesday as small caps, financials and some energy stocks pulled back. X SPDR Dow Jones Industrial Average (DIA) continued to hold solid gains, thanks to big moves by Procter & Gamble (PG), Boeing (BA) and Chevron (CVX). The blue-chip index, which recovered its 50-day moving average Monday, is on track for a fourth straight advance. PowerShares QQQ Trust (QQQ) was flirting with the flat line as the underlying Nasdaq 100 index staged a downward reversal. But it's still outperforming small caps and emerging-market ETFs: iShares MSCI Emerging Markets (EEM) and iShares Russell 2000 (IWM) were off 0.8% and 0.7%, respectively. Utilities, oil services and semiconductors led the upside among sector funds. Utilities Select Sector SPDR (XLU) shook off early weakness to rise 1.5% as it tries to hold above its 200-day line. Shares are 8% below their November peak. IBD Newsletters Get exclusive IBD analysis and action news daily. SIGN UP NOW! … [Read more...] about Index Funds: Dow Stocks Hold Solid Gains, But Small Caps Weaken
Index Funds: This Sector Races Ahead As Top Stock Biogen Soars
Trade war fears continue to persist, but you wouldn't know it by looking at the stock market as exchange traded funds staged a broad rally. X Key market index funds rose Friday despite tariffs on $34 billion in China goods that went into effect. China then imposed tariffs on $34 billion in U.S. goods. A better-than-expected jobs report overshadowed the tariff news and boosted U.S. stocks. The tech-heavy Invesco QQQ Trust (QQQ) led with a 1.4% gain, while SPDR S&P 500 (SPY) and SPDR Dow Jones Industrial Average (DIA) followed with 0.9% and 0.6%, respectively. Emerging markets rallied too: iShares Core MSCI Emerging Markets (IEMG) advanced 1.4%. Biotech, energy and semiconductors led the upside among sector funds. IShares Nasdaq Biotechnology (IBB) gapped up and surged 3.5%. Biogen (BIIB) soared 19% after announcing positive trial results for its Alzheimer's treatment with Japanese biotech partner Eisai. The drug slowed progression of the disease in 856 patients. Health Care Select … [Read more...] about Index Funds: This Sector Races Ahead As Top Stock Biogen Soars
For Vanguard employees’ own retirement fund, the firm will no longer offer its signature S&P 500 index fund
At Vanguard, which popularized the S&P 500 index funds, workers will no longer be able to choose that option in their 401(k) retirement plan. The S&P 500 index fund, one of the low-cost examples of passive investing that put the firm on the investing map, will be dropped this month from the mutual fund giant’s menu of options for its employees’ 401(k) plans. Jim Boyer, who previously worked in Vanguard’s defined-contribution retirement plan division, said the overall menu of funds available are still “great, but why would the firm risk a potential lawsuit by getting away from the S&P 500 index fund in its own retirement plan?” Boyer said colleagues were upset over the removal of the S&P 500 index fund — an institutional class of shares in the fund that charged just 0.02 percent annually, making it one of the cheapest options. Vanguard pioneered the use of such low-cost funds. “This is one of the most important funds that … [Read more...] about For Vanguard employees’ own retirement fund, the firm will no longer offer its signature S&P 500 index fund
6 Ideas To Consider If The Stock Market Is Making You Nervous
Investors sought safer shores Tuesday as geopolitical concerns rocked global stock markets and sent the Dow Jones industrial average down nearly 400 points. X European stocks got hit amid escalating political turmoil in Italy. Meantime, President Trump announced tariffs on $50 billion worth of Chinese imports by June 15, renewing worries about a potential trade war with the Middle Kingdom. Money flowed out of equities and into bonds as investors ducked for cover. That boosted prices on the U.S. 10-year Treasury, sending yields down 11 basis points to 2.81%. Yields recently topped 3% for the first time since 2011. Here are three widely followed bond ETFs that rose Tuesday: IBD Newsletters Get exclusive IBD analysis and action news daily. SIGN UP NOW! IBD Newsletters Get exclusive IBD analysis and action news daily. Tech Report Market Prep Please enter a valid email address Please select a newsletter GO Get these newsletters delivered to your inbox & more … [Read more...] about 6 Ideas To Consider If The Stock Market Is Making You Nervous