Galeanu Mihai Fresh inflation comes out on Tuesday as the Bureau of Labor Statistics releases April's Consumer Price Index. Overall, the core CPI is expected to tick up month-over-month as rent data fills in after the government shutdown and airfares strengthen due to higher jet fuel prices. Similar to March, the headline number will reflect elevated energy prices driven by the Iran war, which has...
Galeanu Mihai Fresh inflation comes out on Tuesday as the Bureau of Labor Statistics releases April's Consumer Price Index. Overall, the core CPI is expected to tick up month-over-month as rent data fills in after the government shutdown and airfares strengthen due to higher jet fuel prices. Similar to March, the headline number will reflect elevated energy prices driven by the Iran war, which has closed the Strait of Hormuz since Feb. 28. Crude oil futures ( CL1:COM ) surged 51% from Feb. 28, 2026, when the conflict started, through the end of April. According to economists' consensus estimates, the headline CPI is expected to rise 0.6% M/M, cooling from the 0.9% jump in March. The Y/Y rate, though, is expected to jump to 3.8% from the 3.3% rate in the previous month. Core CPI, which excludes food and energy, is expected to increase 0.3% M/M vs. the 0.2% rise in March. On a Y/Y basis, the gauge is anticipated to rise 2.7% from 2.6% in the prior month. Economists often focus on core CPI as a better gauge of the underlying inflation trend than the headline number. Recently Citi increased its estimate for April core CPI to +0.36% M/M from its prior estimate of 0.35%. The slightly stronger view reflects a "catch-up" of primary rents and owners' equivalent rent after October data was missed during the government shutdown. " These components will essentially capture two months of price changes in one in April," Citi economist Veronica Clark wrote in a note to clients. Another source of upward pressure on inflation is airfares, due to higher jet fuel prices. "But underlying demand-driven inflationary pressures continue to look much more muted, with average hourly earnings slowing more than expected over the last few months in April data last week," she added. "Softer wage growth suggests both that underlying inflation pressures are easing for sectors like services and that consumers would have less ability to pay higher goods prices despite other input costs rising," Clar...
primeimages/E+ via Getty Images By Brian Levitt, Chief Global Market Strategist and Head of Strategy & Insights A prominent television host recently asked me whether this is an Alfred E. Neumann market. The reference, of course, was to the Mad Magazine character and his famous line, “What, me worry?” It’s a fair question given the market’s continued advance in the face of what seems like a steady ...
primeimages/E+ via Getty Images By Brian Levitt, Chief Global Market Strategist and Head of Strategy & Insights A prominent television host recently asked me whether this is an Alfred E. Neumann market. The reference, of course, was to the Mad Magazine character and his famous line, “What, me worry?” It’s a fair question given the market’s continued advance in the face of what seems like a steady stream of concerns. My answer was yes, though with an important qualification. It’s not as if there’s nothing to worry about. There’s always something to worry about. Currently, the geopolitical backdrop remains unsettled, with tensions in Iran shifting in and out of focus. In the UK, bond yields have moved higher as investors assess whether a potential political shift could bring back echoes of the sharp market dislocation seen during the brief Liz Truss era. 1 In Japan, policymakers have stepped in to support the yen, while also preparing markets for the likelihood of additional rate hikes. 2 Each of these developments can carry implications for global liquidity, currencies, and risk sentiment. Yet, markets have largely taken these issues in stride. 3 That doesn’t mean investors are blind to risks or behaving with indifference. Instead, it suggests that the fundamental backdrop has continued to provide a strong enough foundation to help offset these concerns. When stepping back from the daily flow of headlines, the bigger picture still looks supportive for stocks, in my view. Three factors supporting markets First, there remains a meaningful amount of fiscal support in the global system. 4 Governments across most major economies continued to spend, whether through industrial policy, infrastructure investment, or defense outlays. That spending often finds its way into corporate revenues and can support broader economic activity. Second, corporate earnings have been consistently strong. Companies in the S&P 500 Index have now delivered double-digit earnings growth for six c...
In a filing with the U.S. Securities and Exchange Commission dated May 11, 2026, Texas Capital Bank Wealth Management Services reported acquiring an additional 30,417 shares of Texas Capital Bancshares (NASDAQ:TCBI) . The transaction’s value is estimated at $2.97 million, based on the average closing price for the first quarter of 2026. The fund’s quarter-end position value in TCBI increased by $3...
In a filing with the U.S. Securities and Exchange Commission dated May 11, 2026, Texas Capital Bank Wealth Management Services reported acquiring an additional 30,417 shares of Texas Capital Bancshares (NASDAQ:TCBI) . The transaction’s value is estimated at $2.97 million, based on the average closing price for the first quarter of 2026. The fund’s quarter-end position value in TCBI increased by $3.6 million, which includes both new shares and share price appreciation. Texas Capital Bancshares, Inc. is a leading regional financial services provider with a strong presence in Texas's largest markets. The company leverages a full-service banking platform to deliver tailored solutions for commercial and consumer clients, emphasizing relationship-driven service and local market expertise. For context, Texas Capital Bank Wealth Management Services holds positions in more than 500 securities. So, a transaction of this size, especially when it’s an addition vs. a new position, may not mean much to individual investors. The fact that it’s a wealth management division that owns shares of its parent company further limits the significance. Continue reading
Andrzej Rostek/iStock via Getty Images Written by Nick Ackerman, co-produced by Stanford Chemist Cohen & Steers Real Estate Opportunities and Income Fund ( RLTY ) provides exposure to real estate investment trusts ("REITs") and some fixed-income exposure. This is one of the newest offerings from the Cohen & Steers suite of closed-end funds, though even this fund goes back to early 2022 so starting...
Andrzej Rostek/iStock via Getty Images Written by Nick Ackerman, co-produced by Stanford Chemist Cohen & Steers Real Estate Opportunities and Income Fund ( RLTY ) provides exposure to real estate investment trusts ("REITs") and some fixed-income exposure. This is one of the newest offerings from the Cohen & Steers suite of closed-end funds, though even this fund goes back to early 2022 so starting to get a fair bit of history. We last covered RLTY in April 2025, when the broader equity market was rebounding sharply from when broad retaliatory tariffs led to a market correction. Since that time, RLTY has put up some solid total returns—though it has fallen short of the S&P 500 Index. RLTY Performance Since Last Update (Cohen & Steers) An index that has been heavily lifted by mega-cap tech stocks, making it significantly different in exposure. I think that means that it can still be appropriate for different investors. Further, I think that REITs are relatively undervalued, with the broader equity market getting a bit rich once again after rebounding from a more recent market correction. RLTY Basics 1-Year Z-score: -1.94 Discount/Premium: -8.90% Distribution Yield: 8.54% Expense Ratio: 1.76% Leverage: 34.80% Managed Assets: $405.09 million Structure: Term (anticipated liquidation date February 23, 2034) RLTY's investment objective is "high current income." The secondary objective is for "capital appreciation." To achieve this, the fund will invest "at least 80% of its managed assets in (i) real estate-related investments, and (ii) preferred and other income securities." This is pretty straightforward and quite similar to Cohen & Steers' other real estate-focused funds. RLTY is a leveraged fund, which comes with higher costs due to financing. The fund's total expense ratio comes in at a rather hefty 4.55% expense ratio. Leverage increases the potential performance of the fund but also comes with the downside of potentially amplified downside moves as well. That increas...
Wirestock/iStock Editorial via Getty Images Terex ( TEX ) up 3.4% as Raymond James upgraded the manufacturer of materials processing machinery and waste and recycling equipment to Strong Buy from Outperform with an $85 price target, pointing to the company's "huge transformation" over the past decade through a “high-grading” of its portfolio. The 2024 acquisition of the Environmental Solutions Gro...
Wirestock/iStock Editorial via Getty Images Terex ( TEX ) up 3.4% as Raymond James upgraded the manufacturer of materials processing machinery and waste and recycling equipment to Strong Buy from Outperform with an $85 price target, pointing to the company's "huge transformation" over the past decade through a “high-grading” of its portfolio. The 2024 acquisition of the Environmental Solutions Group from Dover and the recently completed acquisition of REV Group are the latest important steps, analyst Tim Thien said, adding that the combination of emergency vehicles, waste/recycling, infrastructure and utilities combine to account for 70%-plus of Terex's ( TEX ) end market exposure, providing an element of top-line stability. Thein said the company's multiple has been weighed down historically by a high degree of earnings volatility and competitive market concerns within its cyclical aerials segment; while timing of an aerials sale is difficult to handicap, the analyst noted strong demand for the asset, which he thinks will translate to a sales price exceeding buy-side expectations. Terex's ( TEX ) valuation is even more compelling when factoring in the "hidden" humanoid robotics asset, Thein said, arguing the company has greater exposure as a percentage of market cap than any machinery or diversified industrial name via its investment, yet little or none of this seems to be embedded in the stock price given its current discounted valuation. More on Terex Terex Q1 2026 Earnings Call Presentation Terex Q1 2026 Earnings Call Transcript Terex: Strategic Shift Driving Sustainable Growth And Margin Expansion
AI is set to have a profound impact on the workforce and productivity, but by how much and how quickly are still being debated and bet on by academics. Bloomberg’s Stacey Vanek Smith describes the $400 wager on the future of work. She joins Caroline Hyde and Ed Ludlow on “Bloomberg Tech." (Source: Bloomberg)
AI is set to have a profound impact on the workforce and productivity, but by how much and how quickly are still being debated and bet on by academics. Bloomberg’s Stacey Vanek Smith describes the $400 wager on the future of work. She joins Caroline Hyde and Ed Ludlow on “Bloomberg Tech." (Source: Bloomberg)
At Holdings Channel, we have reviewed the latest batch of the 97 most recent 13F filings for the 03/31/2026 reporting period, and noticed that Johnson & Johnson (Symbol: JNJ) was held by 64 of these funds. When hedge fund managers appear to be thinking alike, we find it is a
At Holdings Channel, we have reviewed the latest batch of the 97 most recent 13F filings for the 03/31/2026 reporting period, and noticed that Johnson & Johnson (Symbol: JNJ) was held by 64 of these funds. When hedge fund managers appear to be thinking alike, we find it is a
Mayuranki De, vice president of ETF trade strategy at Raymond James, joins Katie Greifeld, Scarlet Fu, and Eric Balchunas on "Bloomberg ETF IQ." (Source: Bloomberg)
Mayuranki De, vice president of ETF trade strategy at Raymond James, joins Katie Greifeld, Scarlet Fu, and Eric Balchunas on "Bloomberg ETF IQ." (Source: Bloomberg)
South African President Cyril Ramaphosa said he would contest a report that criticized his handling of a robbery at his farm in 2020 after a ruling by the nation’s top court resurrected the scandal, and rejected calls to stand down. “I will not resign,” he said during a televised address on Monday. “To do so would be to give credence to a panel report that unfortunately has grave flaws.” The Const...
South African President Cyril Ramaphosa said he would contest a report that criticized his handling of a robbery at his farm in 2020 after a ruling by the nation’s top court resurrected the scandal, and rejected calls to stand down. “I will not resign,” he said during a televised address on Monday. “To do so would be to give credence to a panel report that unfortunately has grave flaws.” The Constitutional Court on May 8 ruled that lawmakers erred four years ago when they failed to establish an impeachment committee to look into how Ramaphosa dealt with the theft of foreign exchange hidden in a sofa on his game farm. Ramaphosa said he would ask the courts to overturn the findings of an advisory panel that examined the incident and found that his conduct may have breached the constitution. Earlier on Monday, the speaker of parliament announced she would submit the report, which will form the basis of an impeachment committee’s investigation, to the National Assembly. Impeachment stands little chance of success as it would require a two-thirds majority of the chamber to pass, and Ramaphosa’s African National Congress party holds 40% of its seats. But it is increasingly viewed as intensifying political pressure on the president, as the ANC braces for challenging local elections later this year. This has fueled speculation that he might choose to step down — an idea Ramaphosa firmly dismissed in his national address. “To resign now would be to give in to those who seek to reverse the renewal of our society, the rebuilding of our institutions and the prosecution of corruption,” he said. Read More: How Cash-in-a-Sofa Scandal Risks Toppling Ramaphosa: Explainer
Wachiwit Netflix ( NFLX ) is facing allegations from Texas’s top attorney that it illegally surveilled users, misrepresented its business model, exposed children’s accounts to privacy risks, and generated billions from selling personal data. Texas Attorney General Ken Paxton filed a lawsuit against the streaming giant for collecting users’ data without their knowledge or consent and disclosing thi...
Wachiwit Netflix ( NFLX ) is facing allegations from Texas’s top attorney that it illegally surveilled users, misrepresented its business model, exposed children’s accounts to privacy risks, and generated billions from selling personal data. Texas Attorney General Ken Paxton filed a lawsuit against the streaming giant for collecting users’ data without their knowledge or consent and disclosing this data to commercial data brokers. The company is also accused of spying on children and designing its platform to be "addictive" using features that are designed to manipulate users. “Netflix has built a surveillance program designed to illegally collect and profit from Texans’ personal data without their consent…and is not the ad-free, kid-friendly platform it claims to be,” Paxton said, describing the company as a “logging company that records and monetizes billions of behavioral events—and occasionally streams movies.” “The company earns billions of dollars every year from secretly selling consumer data,” Paxton added. Paxton seeks to hold the company accountable under the Texas Deceptive Trade Practices Act, requiring it to stop the unlawful collection and disclosure of user data, disable autoplay by default on kids' profiles, and obtain other injunctive relief and civil penalties. More on Netflix Don't Cancel Your Netflix Investment Disney And Netflix: Both Names Look Attractive Netflix Reigns Supreme With Unmatched Viewership, Global Reach, And Robust Fundamentals What is next for Netflix after its Q1 guidance selloff? Netflix eyes ‘Seinfeld’ studio lot at deep discount after dropping WBD bid: report