Deutsche Bank Aktiengesellschaft, a stock corporation, provides corporate and investment banking, and asset management products and services to private individuals, corporate entities, and institutional clients in Germany, the United Kingdom, rest of Europe, the Middle East, Africa, the Americas, and the Asia-Pacific. It operates through Corporate Bank, Investment Bank, Private Bank, and Asset Management segments. The Corporate Bank segment offers cash management, trade finance and lending, trust and agency, and securities services, as well as risk management solutions. The Investment Bank segment provides debt origination, merger and acquisitions, foreign exchange, and equity advisory and origination platform services. The Private Bank segment offers payment and account services, and credit and deposit products, as well as investment advice products, such as environmental, social, and governance products. This segment also provides banking, wealth management, other financial, and postal and parcel services; and supports in planning, managing and investing wealth, financing personal and business interests, and servicing institutional and corporate needs. The Asset Management segment offers investment solutions, such as alternative investments, which include real estate, infrastructure, liquid real assets, and sustainable investments; and various other services, including insurance and pension solutions, asset liability management, portfolio management solutions, and asset allocation advisory to individuals and institutions. Deutsche Bank Aktiengesellschaft was founded in 1870 and is headquartered in Frankfurt am Main, Germany.

Deutsche Bank looks like an inexpensive but not risk-free bank: based on the P/E, P/S, P/B, and P/FCF multiples, it is noticeably cheaper than the industry median, which supports the valuation and points to a persistent discount to the sector. At the same time, this discount does not look entirely “free,” because returns on equity and assets remain weaker than industry benchmarks: ROE of 7.05%, ROA of 0.40%, ROI of 2.94%, and return on tangible equity of 7.77% are all below the median. Profitability trends are generally stable, but without a clear acceleration: the net profit margin of around 9.6%, operating margin of about 14.9%, and gross margin of 52.7% are acceptable, but they do not signal a strong expansion in efficiency. EPS and forward EPS look better than the market and support the idea of sustainable earnings generation, while net income and operating income on a TTM basis remain high in absolute terms. Revenue and gross profit are also staying at elevated levels and show no signs of a sharp deterioration, which is important for a bank with a large balance sheet. On the other hand, the debt burden is noticeably higher than the industry median, and the current ratio of 0.74 and especially the quick ratio of 0.00 underscore the specifics of the banking model and limited liquidity by traditional corporate standards. Shareholders’ equity and assets are growing, which is positive for stability, but total liabilities remain very large, so the balance sheet still requires cautious assessment. The dividend yield of 3.11% has increased compared with previous years, which adds appeal for an income-oriented investor. Overall, the fundamentals support a moderately positive view of the stock, but weak profitability relative to the sector and high leverage do not allow for an aggressive increase in the target valuation. For an investor, this is a story about a quality but still discounted European bank with an acceptable yield and limited upside potential unless ROE and margins improve further.

Deutsche Bank AG

Сильный индекс, значительно упал. Быки в растерянности.

Strong index, significantly down. The bulls are confused.

Сильный индекс, значительно вырос. Рынок на стороне быков.

Strong index, significantly up. The market is on the bulls' side.

Средний индекс, значительно вырос. Увеличился приток средств в лонги.

Medium index, significantly up. The inflow of funds into longs has increased.

DB trades at a notable discount to the sector, but weak profitability and a high debt burden limit re-rating potential; dividends and profitability support the valuation.

Shares of HSBC Holdings HSBC have gained 2.2% since the announcement of the deal to divest its Singapore life and health insurance business to Germany-based Allianz SE for $2.09 billion last week. This marks another step in the bank’s ongoing strategy to streamline operations and sharpen its focus on its core wealth management and wholesale banking businesses in the Asia region.
The deal is expected to be completed in the first half of 2027, subject to consent from the Monetary Authority of Singapore. Upon completion, HSBC Bank (Singapore) and HSBC Life Singapore will enter into an exclusive 15-year bancassurance distribution agreement with Allianz. This will allow HSBC to continue offering the life and health insurance products to its retail banking and wealth management customers in Singapore.
This transaction is expected to generate a pre-tax gain of approximately $1.8 billion and increase its Common Equity Tier 1 (CET1) ratio by up to 15 basis points following the upstreaming of the distributable gain. HSBC will receive an upfront payment of $200 million from Allianz under the long-term distribution agreement, with additional variable consideration linked to performance.
The sale is a U-turn for HSBC. In 2022, it had acquired AXA Singapore to strengthen its insurance presence in the country. Nonetheless, this May, the company announced it was reviewing HSBC Life Singapore's insurance business, intending to focus on higher-growth operations.
Our Take on HSBC’s Asia Focus Strategy
The divestiture aligns with HSBC’s ongoing simplification and restructuring strategy, which focuses on streamlining its global operations, exiting non-core businesses, redeploying capital to higher-return opportunities, and strengthening its wealth management and wholesale banking franchises in Asia.
By adopting a capital-light bancassurance model in Singapore, the company will continue distributing insurance products without maintaining capital-intensive insurance manufacturing operations.
HSBC has narrowed its investment banking activities in the U.K., Europe and the United States while sharpening its focus on Asia and the Middle East. This year, the bank completed the privatization of Hang Seng Bank and divested its U.K. life insurance business, as well as its retail banking operations in South Africa and Sri Lanka.
HSBC also reclassified its Malta business as held for sale and agreed to sell its Indonesian retail banking business while strategic reviews of its retail operations in Australia, Turkey and Egypt remain underway.
Over the past three months, shares of HSBC have gained 16.4%, outperforming the industry's rally of 15.1%.
At present, HSBC carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Similar Steps Taken by Other Financial Firms
In June, Deutsche Bank AG DB entered into a definitive agreement to sell its retail banking, affluent private banking and wealth management business in India to Kotak Mahindra Bank.
The divestiture aligns with DB's broader Global Hausbank strategy, announced in November 2025, which emphasizes simplifying operations, enabling disciplined capital allocation and concentrating investments in businesses with stronger scale and competitive advantages.
Earlier this month, Northern Trust Corporation NTRS agreed to sell its guardianship services business to Wintrust Financial Corporation's subsidiary, Wintrust Private Trust Company.
The divestiture aligns with NTRS' broader strategy of strengthening its core wealth management, asset servicing, and asset management businesses while streamlining its portfolio and focusing investments on areas with stronger long-term growth potential.
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HSBC to Divest Singapore Insurance Unit to Allianz for $2.09B

In trading on Tuesday, shares of Deutsche Bank AG (Symbol: DB) crossed above their 200 day moving average of $12.93, changing hands as high as $12.95 per share. Deutsche Bank AG shares are currently trading up about 5.6% on the day. The chart below shows the one year performance of DB shares, versus its 200 day moving average:
Looking at the chart above, DB's low point in its 52 week range is $9.46 per share, with $16.70 as the 52 week high point — that compares with a last trade of $12.95.
Click here to find out which 9 other stocks recently crossed above their 200 day moving average »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

DB Crosses Above Key Moving Average Level

Northern Trust Corporation NTRS has agreed to sell its guardianship services business to Wintrust Financial Corporation's WTFC subsidiary, Wintrust Private Trust Company. The transaction, expected to close later this year, includes approximately $1.2 billion in assets under management (AUM). The financial terms of the transaction were not disclosed.
The business provides guardianship services for individuals who are legally unable to manage their own affairs because of age, disability or incapacity. As part of the agreement, Northern Trust's guardianship team is expected to join WTFC after the transaction closes, ensuring continuity of service for clients.
Sale Aligns With NTRS' Core Growth Strategy
The divestiture aligns with Northern Trust's broader strategy of strengthening its core wealth management, asset servicing and asset management businesses. By exiting the guardianship services business, the company can further concentrate on expanding its larger fee-based franchises while continuing to invest in its core businesses.
In line with this strategy, the company's investment management division, Northern Trust Asset Management, partnered with Envestnet in January 2026 to expand the distribution of its tax-managed direct indexing solutions. In 2025, NTRS launched Family Office Solutions to enhance services for ultra-high-net-worth clients. The company has also continued to secure new asset servicing mandates from global asset owners while benefiting from healthy trust fee growth within its wealth management business.
As of March 31, 2026, Northern Trust managed $1.8 trillion in AUM and $18.6 trillion in assets under custody. The sale of the guardianship services business to Wintrust complements these initiatives by further streamlining the company's portfolio and reinforcing its focus on these core franchises, which remain central to its long-term growth strategy.
NTRS’ Price Performance & Zacks Rank
Over the past six months, shares of Northern Trust have gained 25.5% compared with the industry’s growth of 12.8%.
At present, NTRS carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Similar Steps Taken by Other Financial Firms
Last week, Deutsche Bank AG DB entered into a definitive agreement to sell its retail banking, affluent private banking and wealth management business in India to Kotak Mahindra Bank.
The divestiture aligns with DB's broader Global Hausbank strategy, announced in November 2025, which emphasizes simplifying operations, disciplined capital allocation and concentrating investments in businesses with stronger scale and competitive advantages.
In June 2026, Citigroup Inc.'s C subsidiary, Bank Handlowy w Warszawie S.A., operating under the Citi Handlowy brand, announced the completion of the sale of its consumer banking business in Poland to VeloBank S.A. While financially immaterial to the company, the sale provides a modest regulatory capital benefit on a cumulative basis since it was first announced in May 2025.
This marks the final divestiture of the C's international consumer businesses, excluding the largely completed wind-downs and the well-advanced Banamex divestiture. Apart from being a key milestone in Citigroup's streamlining efforts, this allows the company to focus on its core businesses and institutional banking operations.
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NTRS to Exit Guardianship Business With WTFC Deal in Strategic Pivot

Key Points
Rocket Lab agreed to acquire Iridium for about $8 billion in cash and stock, its largest deal yet.
The acquisition hands Rocket Lab a profitable, in-orbit satellite network and recurring subscriber revenue.
A $3.6 billion bridge loan and newly issued shares will help fund a deal that isn't expected to close until mid-2027.
Space company Rocket Lab (NASDAQ: RKLB) has spent the better part of a decade learning to build and launch rockets. This week, it agreed to buy a satellite business instead.
The company said it will acquire satellite operator Iridium Communications (NASDAQ: IRDM) in a cash-and-stock deal worth about $8 billion -- a sum equal to about 13% of Rocket Lab's own market value, and one that brings billions of dollars in new debt. Investors liked what they saw. Rocket Lab shares jumped about 16% on the news, and Iridium's soared about 25%.
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The ambition isn't subtle. Rocket Lab wants to look more like SpaceX -- a company that builds rockets, launches them, and runs its own satellite network on top. The question for investors, however, is whether buying into that vision this early, and at this price, makes the stock a buy.
A shortcut to a satellite business
What Rocket Lab is paying for is years of work it would otherwise have to do itself. Iridium operates 66 satellites in low-Earth orbit, plus on-orbit spares, and holds globally licensed L-band spectrum -- the airwaves its phones and devices communicate over, and a scarce asset because regulators release only so much of it. The network also comes with more than 2.5 million subscribers across government, defense, aviation, maritime, and commercial markets.
Rocket Lab framed the deal as a way around three obstacles at once: securing spectrum, the long wait to deploy a constellation before it earns anything, and the years it takes to build a paying customer base. CEO Peter Beck called it "a defining moment for the space industry."
And what turns the strategic case into something concrete is the contrast between the two companies. Iridium is profitable, and Rocket Lab is not.
Iridium generated $871.7 million in revenue and $114.4 million in net income in 2025, and about $634 million of that was service revenue -- the steady, subscription-style revenue Rocket Lab doesn't yet have. Rocket Lab, over the same year, posted $602 million in revenue and a net loss of $198.2 million. It's buying a company that takes in more money than it does, and turns a profit doing it.
A steep price and a long wait
But the acquisition comes at a steep price.
Iridium shareholders will receive $54 per share -- a 24% premium to where the stock traded before the announcement -- with about half of that in cash. To cover the cash portion, Rocket Lab has lined up a $3.6 billion bridge loan from Deutsche Bank and Wells Fargo. The rest of the consideration comes in stock, which dilutes existing shareholders. Piling billions in debt onto a company that just reported an annual net loss is not a small step -- and it's a reason for investors to be skeptical.
Additionally, the payoff is a long way off. The deal isn't expected to close until mid-2027, pending approval from Iridium's shareholders and regulators. That leaves about a year of closing risk before the combined company even exists -- a stretch during which Rocket Lab is also working to launch its much larger Neutron rocket for the first time, which management expects to happen later this year.
To be fair, the growth stock has a genuinely accelerating business underneath it. Rocket Lab's first-quarter revenue rose about 64% year over year to a record $200 million, and its backlog more than doubled from a year earlier to $2.2 billion.
The momentum is there. But the trouble is that the stock already reflects it. Rocket Lab shares trade at more than 80 times sales -- an extreme valuation multiple even for a company growing this fast, and one that leaves little room if the deal or Neutron disappoints.
So, is the stock a buy?
The strategy makes sense to me. Buying spectrum, an in-orbit network, and millions of paying customers in one move is a faster, surer route to a SpaceX-style business than building each piece itself over many years. But the price gives me pause. Between the new debt, the share dilution, a close that's still more than a year out, and a valuation that already prices in near-perfect execution, I'd rather watch this one from the sidelines. Perhaps I'd warm up to it on a meaningful pullback, or once there's evidence the integration -- and Neutron -- are tracking as management hopes.
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Rocket Lab Just Made an $8 Billion Bet to Rival SpaceX. Is the Stock a Buy?

Key Points
The S&P 500 has returned 9% this year despite rich valuations and economic uncertainty tied to tariffs and the Iran war.
S&P 500 companies reported exceptionally strong earnings in the first quarter, driven by massive investments in artificial intelligence.
The S&P 500 has median year-end target of 7,850 among 19 Wall Street analysts; that implies 5% upside from its current level of 7,473.
The S&P 500 (SNPINDEX: ^GSPC) had added 9% year to date despite a plethora of headwinds, including economic uncertainty surrounding President Trump's trade policies and elevated oil prices tied to the Iran conflict. High inflation has also taken interest rate cuts off the table, at least in the near term.
For context, the S&P 500 had added less than 2% at this point in 2025. So what's driving the stock market higher this year? And will the market's momentum carry into the second half of 2026?
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Here's what investors need to know.
The stock market's gains have been driven by exceptional financial results
The S&P 500 entered the year with a forward price-to-earnings ratio of 22, one of its most expensive valuations on record. In fact, the index has only exceeded that level during two other periods in the last four decades: the dot-com bubble and COVID-19 pandemic. Both incidents led to bear markets.
The situation got more complicated when the U.S. attacked Iran in late February, sending oil prices to their highest level since Russia invaded Ukraine in 2022. In turn, high energy prices drove inflation to a multi-year high, quashing any hope that the Federal Reserve would cut interest rates in the near future.
Yet, the S&P 500 has still advanced 9% this year, and the driving force behind those gains has been strong financial results. In the first quarter, S&P 500 companies reported revenue growth of 12%, the highest level since 2022. And they reported earnings growth of 29%, the highest level since 2021, according to FactSet Research.
Driving deeper, the technology and communication services sectors led the S&P 500 with earnings growth of 55% and 49%, respectively. And the top five contributors to the index's earnings growth were companies at the heart of the artificial intelligence (AI) infrastructure build-out: Alphabet, Amazon, Meta Platforms, Micron Technology, and Nvidia.
Paul Quinsee at JPMorgan Chase writes:
The impact of AI is spreading, and separately the energy sector is delivering increased profits. But if we exclude these two market drivers, we project U.S. earnings will grow at a moderate 8% this year. This underscores the critical role the massive AI investment boom now plays in the outlook for equity returns.
Wall Street expects the S&P 500 to climb a little higher in the second half of 2026
Wall Street analysts expect more strong financial results from S&P 500 companies in the remaining quarters of 2026. For the full year, the consensus estimate says revenue will increase 11% (the fastest growth since 2022) and earnings will increase 23% (the fastest growth since 2021).
Accordingly, analysts expect more upside in the stock market. The chart below shows where different Wall Street investment banks and research companies expect the S&P 500 to finish the year. It also shows the implied upside or downside versus the index's current level of 7,473.
Wall Street Firm
S&P 500 Year-End Target
Implied Upside (Downside)
Yardeni Research
8,250
10%
Oppenheimer
8,100
8%
Citigroup
8,100
8%
Deutsche Bank
8,000
7%
Goldman Sachs
8,000
7%
Morgan Stanley
8,000
7%
Wells Fargo
7,950
6%
RBC Capital
7,900
6%
UBS
7,900
6%
BMO Capital
7,850
5%
JPMorgan Chase
7,800
4%
Seaport Research
7,800
4%
Evercore
7,750
4%
Fundstrat
7,700
3%
HSBC
7,650
2%
Barclays
7,650
2%
Jefferies
7,500
0%
CFRA
7,400
(1%)
Bank of America
7,100
(5%)
Median
7,850
5%
As shown, the S&P 500 has a median year-end target of 7,850 among 19 Wall Street investment banks and research companies. That represents a slight upward revision from 7,600 earlier this year, and it implies 5% upside from the index's current level of 7,473. That would bring the S&P 500's full-year return to 15% .
However, investors should bear in mind that Wall Street has frequently missed the mark when trying to predict the stock market's future movements. Over the last four years, the S&P 500's median year-end target (based on dozens of analysts surveyed by Reuters) was incorrect by an average of 16 percentage points.
Also, investors should understand the risks to the downside. Relations between the U.S. and Iran are strained despite a recent de-escalation. Inflation remains well above the Federal Reserve's 2% target. And President Trump plans to impose new tariffs this summer following the expiration of the 10% global tariff in late July.
Here's the big picture: Investors should feel comfortable buying stocks today, particularly AI enablers. But downside risks warrant caution. Now is not the time to chase expensive IPOs like SpaceX. Instead, look for stocks that trade at reasonable prices, whose earnings are likely to be much higher in five years.
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Bank of America is an advertising partner of Motley Fool Money. JPMorgan Chase is an advertising partner of Motley Fool Money. HSBC Holdings is an advertising partner of Motley Fool Money. Citigroup is an advertising partner of Motley Fool Money. Trevor Jennewine has positions in Amazon and Nvidia. The Motley Fool has positions in and recommends Alphabet, Amazon, Evercore, FactSet Research Systems, Goldman Sachs Group, JPMorgan Chase, Jefferies Financial Group, Meta Platforms, Micron Technology, and Nvidia. The Motley Fool recommends Barclays Plc and HSBC Holdings. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The S&P 500 Is Up 9% in 2026. Wall Street Says the Stock Market Will Do This Next.

Citigroup Inc.'s C subsidiary, Bank Handlowy w Warszawie S.A., operating under the Citi Handlowy brand, announced the completion of the sale of its consumer banking business in Poland to VeloBank S.A. While financially immaterial to the company, the sale provides a modest regulatory capital benefit on a cumulative basis since it was first announced in May 2025.
This marks the final divestiture of the company's international consumer businesses, excluding the largely completed wind-downs and the well-advanced Banamex divestiture. Apart from being a key milestone in Citigroup's streamlining efforts, this allows the company to focus on its core businesses and institutional banking operations.
The sale of its Polish consumer banking business includes wealth management, micro business banking, credit cards, consumer loans, deposits, assets under management, consumer clients of the brokerage business, branches and other consumer-related assets. The transaction also includes the transfer of approximately 1,600 employees to VeloBank.
The divestiture excludes Citigroup's institutional banking operations in the country, which it will continue to invest in and grow to serve institutional clients through its global network. Given Poland's importance as a key institutional market, the company intends to further strengthen its franchise in the country.
Polish Exit Caps Citigroup's Consumer Banking Overhaul
The completion of the Polish sale caps a strategic initiative unveiled by CEO Jane Fraser in April 2021 to exit consumer banking operations across 14 markets in Asia and EMEA. The restructuring was aimed at simplifying Citigroup's operations and reallocating capital toward wealth management and institutional banking businesses with greater scale and growth potential.
As part of this repositioning, the company has made significant progress in Mexico. In April 2026, the company completed the sale of a 22.6% stake in Banamex, following the divestiture of a 25% stake in December 2025, and continues to prepare for a planned initial public offering of its Mexican consumer and small and middle-market banking businesses.
The company has also streamlined other international operations. In February 2026, Citigroup completed the sale of AO Citibank to Renaissance Capital, completing its exit from Russia. The company had previously divested its China-based onshore consumer wealth portfolio to HSBC China in June 2024 and continues to advance the wind-down of its Korea consumer banking operations. These actions are intended to free up capital and support investments in wealth management hubs such as Singapore, Hong Kong, the UAE and London.
Beyond geographic streamlining, Citigroup has also simplified its governance structure by eliminating management layers and reducing organizational complexity. In 2024, the company announced plans to cut 20,000 jobs by 2026 and has already reduced its workforce by more than 10,000 employees.
Together with organizational simplification efforts, these initiatives are expected to generate $2-$2.5 billion in annualized run-rate savings by 2026, while supporting revenue growth at a 4-5% compound annual growth rate through the year.
Our Viewpoint on Citigroup
By exiting non-core consumer businesses and reallocating resources toward more profitable operations, Citigroup is simplifying its structure and sharpening its focus on higher-return opportunities. As the company almost completes streamlining initiatives, its more focused business model and greater emphasis on core businesses will support sustainable growth and improved shareholder returns over the long term.
Shares of Citigroup have gained 25.6% over the past six months compared with the industry’s growth of 6.1%.
Image Source: Zacks Investment Research
Currently, C carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Similar Steps Taken by Other Banks
In April 2026, The Australian first reported that HSBC Holdings plc HSBC had revived efforts to divest its Australian retail banking business, but the approach has evolved. Instead of selling the entire unit in one transaction, the bank is now prioritizing the sale of its loan portfolio.
The move reflects HSBC’s broader global strategy of concentrating on core markets like Hong Kong and the U.K., while sharpening its presence across Asia. The bank has been actively exiting non-core geographies and reallocating capital toward higher-return regions.
In March 2026, a Reuters report published on MSN stated that Deutsche Bank AG’s DB India retail business is set to be acquired by Kotak Mahindra Bank in a deal estimated at $480.3 million.
The deal, under which Kotak Mahindra Bank is expected to acquire the business, is said to include DB’s retail loan and deposit franchise in India. The portfolio reportedly spans personal loans, mortgages, small-business lending and parts of its wealth business. The move fits squarely into Deutsche Bank’s broader restructuring strategy under CEO Christian Sewing.
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C Sheds Polish Arm, Marks Final Exit From Nore-Core Consumer Business

Key Points
Ourcurrent stock markethas been rising in value very briskly.
A pullback this year or next shouldn't be surprising at all.
Don't keep money you'll need soon in the stock market.
The folks at Deutsche Bank Research recently pointed out something interesting about ourcurrent stock market-- that the S&P 500 has only risen this rapidly four times in the 81 years since the end of World War II.
As of the end of May, it had gained more than 16% over the past two months. For context, consider that the S&P 500 has averaged annual returns close to 10% (ignoring inflation) over many decades, and an impressive 13.7% over the past decade.
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In three of the four previous times, the U.S. economy was coming out of a recession -- the periods following the oil crisis in the 1970s, the global financial crisis of 2008, and the more recent Covid-19 disruption.
The other instance is the worrisome one -- it occurred just before the stock market crash of 1987. And that was no correction -- it was a clear crash, with the Dow Jones Industrial Average plunging nearly 22% in a single day.
We certainly don't seem to be emerging from a bear market. Check out the S&P 500's recent returns:
Year
S&P 500 Return
2019
31.5%
2020
18.4%
2021
28.7%
2022
(18.11%)
2023
26.29%
2024
25.02%
2025
17.88%
2026
11.72% (year to date)
We more closely mirror 1987, though of course every year or span of years will differ in some ways from others. The S&P 500 had gained about 39% in the year preceding the 1987 crash.
It's not exactly time to panic or to sell out of stocks, because no one knows what the market will do from day to day or year to year. Looking at the table above, folks might have sold in 2023, expecting a drop, only to miss out on many gains.
But don't be surprised if the market does pull back in the near future. And consider taking any money you might need in the coming five (or even 10) years out of stocks, just in case.
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Selena Maranjian has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The Market Has Only Done This 4 Times Since World War II. Here's What Comes Next.

Key Points
iShares Bitcoin Trust ETF and Fidelity Wise Origin Bitcoin Fund are the titans of the Bitcoin ETF space.
iShares Ethereum Trust ETF provides efficient exposure to the second-largest cryptocurrency.
Institutional demand for crypto assets, including ETFs, is rising.
Bitcoin (CRYPTO: BTC) is showing signs of life. The largest cryptocurrency by market capitalization traded above $81,000 on Wednesday, May 6, marking the first time in months that it's traded at those levels.
The record of $126,198 notched on Oct. 6, 2025, is a long way off, but, hey, rebounds have to start somewhere. Time will tell whether Bitcoin's recent strength evolves into something more substantive or is fleeting, but what's not debatable is that institutional investors are embracing Bitcoin exchange-traded funds (ETFs) and other crypto exchange-traded funds.
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Participation in cryptocurrency via ETFs by high-level asset allocators isn't necessarily a harbinger of near-term upside, but it does signal long-term commitment. Retail investors have access to the same products the pros use for digital currency exposure. Here are some of the best to consider.
Two rulers of Bitcoin ETFs
When the original batch of spot Bitcoin ETFs debuted in January 2024 -- a group including the iShares Bitcoin Trust ETF (NASDAQ: IBIT) and the Fidelity Wise Origin Bitcoin Fund (NYSEMKT: FBTC) -- the floodgates opened for institutional adoption of digital currency. The reason was simple. Due to security and storage issues associated with direct ownership of Bitcoin, some institutions couldn't participate, but ETFs alleviated those burdens.
A love affair was born, as evidenced by the IBIT ETF's current $66.7 billion in assets under management, compared with the Fidelity fund's equivalent $15.5 billion. That's $82.2 billion across just two Bitcoin ETFs, and a tally like that isn't reached without the support of professional investors.
A December 2025 survey by State Street Investment Management found that 68% of institutional investors were already engaged with Bitcoin ETFs or planned to gain exposure to them.
In fact, crypto ETFs hauled in $40 billion in new money last year, some of it institutional. Inflows like that, against a rough backdrop for Bitcoin and friends, may indicate that the smart money sees long-term opportunity in some of the major digital currencies.
Ethereum is getting some love, too
Ethereum (CRYPTO: ETH) is the second-largest digital asset behind Bitcoin, and, thanks to funds such as the iShares Ethereum Trust ETF (NASDAQ: ETHA), it is also accessible in an ETF wrapper. This cryptocurrency ETF has $7.5 billion in assets under management. That's likely a sign of institutional adoption.
Whether that translates into heavier inflows into products like this Ethereum ETF remains to be seen. Still, it is clear that major non-crypto institutions, including iShares parent BlackRock and Deutsche Bank, view Ethereum as a preferred blockchain. BlackRock even has a tokenized fund rooted in Ethereum, and when that product expanded to five protocols, three of those were Ethereum Layer 2s.
An extra option
The drawback with the iShares Ethereum Trust is that it's not structured for staking. This means that investors don't earn rewards on shares as they would if they directly owned the digital currency and locked up a portion of those holdings.
The iShares Staked Ethereum Trust ETF (NASDAQ: ETHB), which debuted in February, solves that problem and is already a hit with investors, as evidenced by its $666 million in assets. This ETF's selling points include monthly income and convenience, as it delivers staking rewards without requiring investors to directly hold Ethereum or stake it themselves.
Should you buy stock in iShares Bitcoin Trust right now?
Before you buy stock in iShares Bitcoin Trust, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and iShares Bitcoin Trust wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
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*Stock Advisor returns as of May 18, 2026.
Todd Shriber has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin, BlackRock, Ethereum, and iShares Bitcoin Trust. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Best Crypto ETFs to Buy in 2026

Key Points
Deutsche Bank hiked its price target on Rocket Lab stock.
The company reported strong Q1 2026 financial results last week.
Shares are trading at a premium to their historical valuation.
Over the first several days of trading in May, Rocket Lab (NASDAQ: RKLB) hadn't given investors much to celebrate. But that changed abruptly when the company reported first-quarter 2026 financial results after the market closed on May 7. That enthusiasm for the launch services stock has persisted this week, and analysts' positive outlooks on Rocket Lab stock are providing additional fuel for the exuberance.
Investors' enthusiasm is undeniable, as the stock set a new all-time high yesterday, rising to $133.18. According to data provided by S&P Global Market Intelligence, Rocket Lab stock has risen 25.7% from its close on Friday through the end of yesterday's market session.
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Setting new company records is just one factor motivating investors
Maintaining a buy rating, Deutsche Bank (NYSE: DB) raised its price target 64% on Rocket Lab stock to $120 from $73 on Tuesday. The following day, Clear Street initiated coverage on Rocket Lab stock, assigning it a buy rating and a $150 price target.
Last week, Rocket Lab reported surprisingly good financial results. Whereas the consensus among analysts was that the company would report Q1 2026 sales of $189.7 million, Rocket Lab posted revenue of $200.4 million -- a record for quarterly sales.
The company set other high-water marks as well: a 38.2% gross margin and a backlog of $2.2 billion.
In Q2 2026, Rocket Lab forecasts revenue of $225 million to $240 million and a gross margin of 33% to 35%.
Should investors shoot for the stars with Rocket Lab?
Trading at more than 108 times sales, Rocket Lab is valued at a steep premium to its five-year average sales multiple of 14.6. Fortunately for those eager to gain exposure to the burgeoning space economy have a variety of other space stocks to choose from.
Should you buy stock in Rocket Lab right now?
Before you buy stock in Rocket Lab, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Rocket Lab wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $468,861!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,445,212!*
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*Stock Advisor returns as of May 15, 2026.
Scott Levine has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Rocket Lab. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Why Rocket Lab Stock Is Rocketing Higher This Week

UBS Group AG UBS reported a first-quarter 2026 net profit attributable to shareholders of $3.04 billion compared with $1.69 billion in the prior-year quarter.
Results were driven by the strong performances of the Global Wealth Management, Asset Management and Investment Bank divisions. An increase in total assets was also encouraging. However, higher operating expenses acted as a headwind.
UBS' Revenues & Expenses
The company’s first-quarter total revenues increased 13.4% year over year to $14.24 billion.
Operating expenses rose slightly year over year to $10.33 billion.
UBS Group reported total credit loss expenses of $70 million, which declined 30% from the year-ago quarter.
UBS Group Business Divisions’ Performances
Global Wealth Management’s operating profit before tax was $1.79 billion, up from $1.36 billion in the year-ago quarter.
Asset Management’s operating profit before tax was $217 million, up 60.7% from the year-ago quarter.
Personal & Corporate Banking reported operating profit before tax of $1.04 billion, up from $607 million in the year-ago quarter.
The Investment Bank unit reported an operating profit before tax of $1.21 billion, up from $722 million in the year-ago quarter.
Non-Core & Legacy incurred an operating loss before tax of $155 million in the reported quarter compared with a loss of $391 million in the year-ago quarter.
Group Items reported an operating loss before tax of $258 million compared with a loss of $299 million in the year-ago quarter.
UBS's Capital Position
Total assets rose 4.3% from the previous quarter’s end to $1.69 trillion.
UBS’s return on Common Equity Tier 1 (CET1) capital was 16.8% as of March 31, 2026, compared with 9.6% as of March 31, 2025.
The risk-weighted assets rose 3.5% year over year to $500.3 billion.
The CET1 capital rose 6% year over year to $73.3 billion. As of March 31, 2026, UBS's invested assets were $6.9 trillion, up 11.8% year over year.
UBS Group’s Capital Distribution Update
In the first quarter of 2026, UBS repurchased $0.9 billion worth of shares and remains on track to complete $3 billion in share repurchases by the end of July 2026, with an aim to do more by the end of the year.
The extent of additional buybacks will depend on the company’s financial performance and outlook, as well as its ability to maintain a CET1 capital ratio of around 14% at year-end. Clarity on parliamentary deliberations regarding the treatment of foreign subsidiaries will also be a key factor.
UBS Progresses With Credit Suisse Integration Plan
With the completion of the Swiss client account migration in March 2026, UBS has finalized the global migration of former Credit Suisse client accounts onto its infrastructure, marking a key integration milestone.
This achievement signals the start of the final phase of integration, including the decommissioning of legacy IT infrastructure, which will be carried out over the remainder of the year. The company remains on track to substantially complete the integration by the end of 2026.
In the first quarter of 2026, UBS realized an additional $0.8 billion in gross cost savings. Cumulative gross cost savings reached $11.5 billion at the end of the quarter compared with the combined 2022 cost base of UBS and Credit Suisse.
The company continues to target approximately $13.5 billion in annualized exit rate gross cost savings by the end of 2026. Management expects cumulative integration-related expenses to be around $15 billion by the end of 2026, assuming constant foreign-exchange rates.
As of March 31, 2026, the Non-core and Legacy division has delivered a 67% reduction in risk-weighted assets (RWA) since the second quarter of 2023. UBS has achieved its target of reducing credit and market risk RWA to around $4 billion, in line with its year-end 2026 ambition.
Additionally, the company has achieved an 84% reduction in underlying operating expenses (excluding litigation) compared with the 2022 baseline.
Our Take on UBS Group
UBS’s inorganic growth initiatives, including the expansion of its U.S. wealth platform following regulatory approval, are expected to support its top line. The company continues to make steady progress in integrating Credit Suisse. A strong capital position and reduced execution risks are likely to support its financial performance going forward.
UBS Group AG Price, Consensus and EPS Surprise
Currently, UBS carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performances of Other Foreign Banks
Deutsche Bank DB reported first-quarter 2026 earnings attributable to its shareholders of €1.91 billion ($3.26 billion), up 7.7% year over year.
Increased revenues and lower expenses aided DB's results. However, higher provisions for credit losses were a headwind.
ICICI Bank Ltd.’s IBN profit after tax for fourth-quarter fiscal 2026 (ended March 31) was INR137.02 billion ($1.50 billion), up 8.5% from the prior-year quarter.
IBN’s results were aided by growth in net interest income and non-interest income. A decline in provisions was a tailwind. However, higher operating expenses, along with a treasury loss, hurt results to some extent.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.