SPY, EDGI: Big ETF Outflows
ETF Outflows: The 3EDGE Dynamic International Equity ETF experienced the largest outflow, losing 240,000 units, which is a 38.1% decline in outstanding units compared to the previous week.
Market Performance: In morning trading, the Spdr Msci Acwi Ex-us ETF rose by about 0.2%, while the Vanguard Total International Stock ETF increased by approximately 0.3%.
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Analyst Views on CWI

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Market Performance: The S&P 500 experienced a 2% pullback in the first four trading sessions of the week but remained flat for 2025 through May 22, with dividends reinvested, after previously being down 15% for the year by April 8.
Investor Caution: Professional money managers advised investors to reduce risk due to potential economic disruptions stemming from tariffs announced by President Trump on April 2.
ETF Outflows: The 3EDGE Dynamic International Equity ETF experienced the largest outflow, losing 240,000 units, which is a 38.1% decline in outstanding units compared to the previous week.
Market Performance: In morning trading, the Spdr Msci Acwi Ex-us ETF rose by about 0.2%, while the Vanguard Total International Stock ETF increased by approximately 0.3%.
TSMC's European Expansion: Taiwan Semiconductor Manufacturing Co (TSMC) plans to build a €10 billion plant in Dresden, Germany, in collaboration with Infineon Technologies, NXP Semiconductors, and Robert Bosch, aiming for production to start by late 2027 with advanced chip technologies.
Industry Challenges and Stock Performance: The semiconductor industry faces challenges such as geopolitical tensions and workforce shortages, while TSMC's stock has surged 90% over the past year, reflecting strong investor interest despite recent trading declines.
Capital Expenditure Approval: Taiwan Semiconductor Manufacturing Co's board has approved $29.62 billion for enhancing chip manufacturing technologies, expanding packaging capacity, and constructing new facilities, while also considering acquiring an idle plant from Innolux Corp for fan-out panel-level packaging technology.
Financial Performance and Market Position: The company reported a 45% revenue growth in July, with expectations of at least 37% growth in the third quarter; it has gained over 85% in stock value over the past year, making it a top pick for investors according to Morgan Stanley.









