The S&P 500 Index ($SPX ) (SPY ) today is up +0.55%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is up +0.28%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.79%. June E-mini S&P futures (ESM26 ) are up +0.58%, and June E-mini Nasdaq futures...
The S&P 500 Index ($SPX ) (SPY ) today is up +0.55%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is up +0.28%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.79%. June E-mini S&P futures (ESM26 ) are up +0.58%, and June E-mini Nasdaq futures...
Powering past the 1.4% rise that the S&P 500 has logged from the end of trading last Friday through yesterday's market close, shares of downstream energy specialist Delek U.S. Holdings (NYSE: DK) are ripping higher thanks to the company's recent reporting of strong first-quarter 2026 financial results. According to data provided by S&P Global Market Intelligence , Delek U.S. Holdings is up 17.5% f...
Powering past the 1.4% rise that the S&P 500 has logged from the end of trading last Friday through yesterday's market close, shares of downstream energy specialist Delek U.S. Holdings (NYSE: DK) are ripping higher thanks to the company's recent reporting of strong first-quarter 2026 financial results. According to data provided by S&P Global Market Intelligence , Delek U.S. Holdings is up 17.5% from the close of last Friday's trading session through the end of yesterdays' trading. Image source: Getty Images. Continue reading
Brandon Bell/Getty Images News Shares of Clorox ( CLX ) are under pressure on Friday after the company’s fiscal third-quarter results and outlook for the year suggested continued headwinds for the consumer products company. "Our third-quarter results were mixed, with continued momentum in some parts of our portfolio and slower-than-anticipated market share recovery in others," said Clorox CEO Lind...
Brandon Bell/Getty Images News Shares of Clorox ( CLX ) are under pressure on Friday after the company’s fiscal third-quarter results and outlook for the year suggested continued headwinds for the consumer products company. "Our third-quarter results were mixed, with continued momentum in some parts of our portfolio and slower-than-anticipated market share recovery in others," said Clorox CEO Linda Rendle. "Looking ahead, we recognize there is more work to do in what continues to be a challenging consumer and cost environment.” While the company realized modest gains in health and wellness and household product sales, the gains were offset by a 9% decline in its Lifestyle segment, leaving net sales flat from a year ago, although slightly better than anticipated. Clorox ( CLX ) earned an increased profit of $1.64 per share as aggressive cost-cutting in advertising and administrative expenses was partially offset by higher manufacturing and logistics costs. Moreover, net cash generated by operations was cut by more than half to $282M, primarily due to a termination payment tied to the Glad joint venture. For the rest of the year, Clorox ( CLX ) now expects net sales to be down 6% versus the prior outlook for sales to be at the lower end of the -6% to -10% range. Organic sales are now expected to be down 9% versus the prior range of down 5% to down 9%. Gross margin is now expected to be down 250-300 basis points versus prior guidance of down 50-100 basis points. Adjusted EPS outlook for FY26 was also lowered to include a 2-4 cent dilution from the GOJO acquisition, as well as higher interest rate expense associated with the debt financing for this deal. Adjusted earnings are now expected to be within a range of $5.45 and $5.65 per share from $5.95 and $6.30 per share previously, with a midpoint of $5.55 for the new range below the $5.69 consensus estimate. Shares were down 9% at Friday's open, touching down at an 11-year low. More on Clorox The Clorox Company (CLX) Q3 ...
sefa ozel/E+ via Getty Images Sandisk ( SNDK ) unveiled "New Business Model" agreements when it released its blockbuster third-quarter results , which analysts said can help improve visibility and reduce the cyclical nature of its business. Shares were up 4% during early market action on Friday. "We learned that Sandisk has signed a total of 5 NBM agreements; those agreements cover >1/3rd of FY27 ...
sefa ozel/E+ via Getty Images Sandisk ( SNDK ) unveiled "New Business Model" agreements when it released its blockbuster third-quarter results , which analysts said can help improve visibility and reduce the cyclical nature of its business. Shares were up 4% during early market action on Friday. "We learned that Sandisk has signed a total of 5 NBM agreements; those agreements cover >1/3rd of FY27 bits; the minimum revenue over the lifetime of the three signed deals is $42bn, with the longest deal 5 years," said Morgan Stanley analysts, led by Joseph Moore, in a Friday investor note. "Those 5 deals come with specific financial guarantees of >$11bn. Sandisk expects to sign more deals, with current negotiations with 'several' other customers. These deals come with a variety of terms, which all vary by customer, but the common theme is that shorter-duration agreements might have a larger take-or-pay component as well as fixed pricing/volumes, with longer-term deals operating with ceilings/floors on prices." Morgan Stanley retained its Overweight rating and $1,100 price target on Sandisk. Meanwhile, Citi Research retained its Buy rating and increased its price target to $1,300 from $980. "We remain constructive on SNDK shares given favorable NAND supply/demand, continued BiCS8 execution, strong FCF generation with share buybacks, while recent deals and guarantees should reduce downside cyclicality," the firm noted. The analysts at BNP Paribas Equity Research agreed. "These steps are encouraging and needed to transform this historically cyclical industry into one of durable, profitable growth," said BNP Paribas senior analyst Karl Ackerman in a note. BNP retained its Neutral rating but increased its price target to $1,200 from $950. Meanwhile, RBC maintained its Sector Perform rating and increased its price target to $1,000 from $650. "Management announced 5 longer-term agreements with pricing/volume commitments (and $11b+ guarantees), which should help improve visibility...
Apple's Mac mini and Mac Studio desktops have been increasingly difficult to buy over the course of the year—multiple configurations are listed on Apple's site as "currently unavailable," which almost never happens, and others will take weeks or months to ship if you order them today. A top-end version of the Mac Studio with 512GB of RAM was delisted from Apple's store entirely . Current Apple CEO...
Apple's Mac mini and Mac Studio desktops have been increasingly difficult to buy over the course of the year—multiple configurations are listed on Apple's site as "currently unavailable," which almost never happens, and others will take weeks or months to ship if you order them today. A top-end version of the Mac Studio with 512GB of RAM was delisted from Apple's store entirely . Current Apple CEO Tim Cook addressed the situation on Apple's Q2 earnings call yesterday as part of a larger conversation about how Apple is navigating component shortages, and he partly blamed the shortage on the popularity of those desktops among users looking to run AI agents and other tools locally. "Both [the Mac mini and the Mac Studio] are amazing platforms for AI and agentic tools, and the customer recognition of that is happening faster than what we had predicted, and so we saw higher-than-expected demand," said Cook. "We think looking forward that the Mac mini and the Mac Studio may take several months to reach supply-demand balance." Read full article Comments
Corn price action is mixed early on Friday, morning, with the now in-delivery May down 1 ¼ cents and other contracts 2 to 3 cents higher. Futures posted modest losses to close out April with contracts ¼ to 3 ½ cents. There were 19 delivery notices on First Notice Day...
Corn price action is mixed early on Friday, morning, with the now in-delivery May down 1 ¼ cents and other contracts 2 to 3 cents higher. Futures posted modest losses to close out April with contracts ¼ to 3 ½ cents. There were 19 delivery notices on First Notice Day...
Lean hog futures were down 25 cents to $1.65 at the Thursday close. Open interest suggested some modest long liquidation, down 3,105 contracts. USDA’s national base hog price was reported at $92.64 on Thursday afternoon, down 61 cents from the day prior. The CME Lean Hog Index was back up...
Lean hog futures were down 25 cents to $1.65 at the Thursday close. Open interest suggested some modest long liquidation, down 3,105 contracts. USDA’s national base hog price was reported at $92.64 on Thursday afternoon, down 61 cents from the day prior. The CME Lean Hog Index was back up...
Live cattle futures posted mixed trade at the close, with contracts down $1.25 to $1.60 higher in the expiring April contract. Cash trade got kicked off early again this week, starting at $250-252 across the country and working up to $256-257 on Wednesday. Feeder cattle futures closed Thursday with gains...
Live cattle futures posted mixed trade at the close, with contracts down $1.25 to $1.60 higher in the expiring April contract. Cash trade got kicked off early again this week, starting at $250-252 across the country and working up to $256-257 on Wednesday. Feeder cattle futures closed Thursday with gains...
Final Warnings By Elwin de Groot, head of macro strategy at Rabobank Some headlines write themselves. Tokyo has already delivered one – and likely acted on it. Tehran may be waiting for its turn. The bond market, meanwhile, could have issued another warning to the Fed . As for the long-held consensus that 2026 would bring smooth disinflation, gentle policy easing, and AI-driven multiple expansion,...
Final Warnings By Elwin de Groot, head of macro strategy at Rabobank Some headlines write themselves. Tokyo has already delivered one – and likely acted on it. Tehran may be waiting for its turn. The bond market, meanwhile, could have issued another warning to the Fed . As for the long-held consensus that 2026 would bring smooth disinflation, gentle policy easing, and AI-driven multiple expansion, that narrative has been under strain for some time. Yesterday’s European inflation – and to a lesser extent growth – data did little to support it. Both US and Eurozone Q1 GDP undershot expectations even as inflation pressures persist. To be sure, central banks held their fire, but no one can say they haven’t been warned. Start with the yen, because that's where yesterday's most audible bang came from. After Finance Minister Katayama and top FX diplomat Mimura took turns at the microphone delivering what Mimura himself called Japan's " final evacuation warning" to markets, USD/JPY collapsed from above 160 to under 156 – the largest one-day move in the dollar against the yen since December 2022. The MOF, predictably, won't confirm. But when a currency moves three big figures in a few hours with no other catalyst, traders who've sat through previous interventions tend to recognize the fingerprints. While writing this Daily, the USD/JPY pair is coming down sharply again. Atsushi Mimura The bigger issue, however, is whether intervention can do more than briefly stabilize markets . Japan faces structural pressures: it is a major energy importer amid elevated oil prices, and its central bank is cautiously pursuing policy normalisation after years of ultra-loose settings. Recent spikes in government bond yields – touching multi-decade highs – highlight the risks. Authorities can resist market forces for a time, but they cannot fundamentally change them. Speaking of which: oil. Brent traded above $125 yesterday in early European trading on yet more reporting that Washington is pre...
SpaceX, Anthropic and OpenAI could all be fast-tracked into the S&P 500 after their potential IPOs under new rules proposed late Thursday. S&P Dow Jones Indices unveiled a number of potential changes to its eligibility criteria and rules for so-called Megacap companies, in a document published late Thursday. Megacap companies would also be exempt from financial viability criteria requiring them to...
SpaceX, Anthropic and OpenAI could all be fast-tracked into the S&P 500 after their potential IPOs under new rules proposed late Thursday. S&P Dow Jones Indices unveiled a number of potential changes to its eligibility criteria and rules for so-called Megacap companies, in a document published late Thursday. Megacap companies would also be exempt from financial viability criteria requiring them to be profitable before being included in S&P indexes.
The Pentagon has struck deals with OpenAI, Google, Microsoft, Amazon, Nvidia, Elon Musk's xAI, and the startup Reflection, allowing the agency to use their AI tools in classified settings, according to an announcement on Friday . At the same time, the Defense Department has left out Anthropic - which it previously used for classified information - after declaring it a supply-chain risk. This build...
The Pentagon has struck deals with OpenAI, Google, Microsoft, Amazon, Nvidia, Elon Musk's xAI, and the startup Reflection, allowing the agency to use their AI tools in classified settings, according to an announcement on Friday . At the same time, the Defense Department has left out Anthropic - which it previously used for classified information - after declaring it a supply-chain risk. This builds upon deals with OpenAI and xAI , which have already reached agreements with the Pentagon for the "lawful" use of their AI systems. A report from The Information suggests Google has struck a similar agreement . As noted by The Wall Street Journal , Mi … Read the full story at The Verge.
Sign up now! Sign up now! Sign up now? Sign up now! By Monday morning, the shape of next season’s Premier League will be clearer. Saturday lunchtime stages the final round of the actual best league in the world , the Championship. One of Ipswich, Millwall and Middlesbrough will join Frank Lampard’s Coventry in being a top-division club by 3pm, Rochdale-esque pitch invasions permitting, as automati...
Sign up now! Sign up now! Sign up now? Sign up now! By Monday morning, the shape of next season’s Premier League will be clearer. Saturday lunchtime stages the final round of the actual best league in the world , the Championship. One of Ipswich, Millwall and Middlesbrough will join Frank Lampard’s Coventry in being a top-division club by 3pm, Rochdale-esque pitch invasions permitting, as automatic promotion is boxed off. There’s also a race for sixth, another triple-header, where plucky, Disney/tech bro/Hollywood-backed Wrexham kick off a point ahead of Hull and Derby in the chase for the playoffs. Will Ryan and Rob be there? Boro are the opposition, so will Chubby Brown and Jeff Winter be there? Re: Scott Parker’s Burnley exit ( yesterday’s Football Daily ). A manager who has masterminded three promotions and two relegations clearly knows what practice makes ” – Rob Crouch. Just wanted to say thanks for the Wilco reference in the last line (yesterday’s Football Daily, full email edition). In the middle of a very busy work day, it really was a shot in the arm” – David Kramer (and others). Regarding yesterday’s last line, there’s plenty of choice descriptions from that Wilco song for the end of the relationship between Burnley and Scott Parker, but the clear one is this: what Burnley once were isn’t what they wanna be any more. To be fair, Parker could be forgiven for thinking ‘oh, you’ve changed’ upon receiving the news, but the club could have told him they needed a shot in the arm and cut him loose six months ago” – Colin Durant. This is an extract from our daily football email … Football Daily. To get the full version, just visit this page and follow the instructions . Continue reading...
In this article NVDA Follow your favorite stocks CREATE FREE ACCOUNT U.S. Commerce Secretary Howard Lutnick testifies during Senate Appropriations Subcommittee on Commerce, Justice, Science, and Related Agencies hearing on fiscal year 2027 budget requests on Capitol Hill in Washington, DC, on April 22, 2026. Saul Loeb | AFP | Getty Images Sen. Chris Coons , D-Del., pressed Commerce Secretary Howar...
In this article NVDA Follow your favorite stocks CREATE FREE ACCOUNT U.S. Commerce Secretary Howard Lutnick testifies during Senate Appropriations Subcommittee on Commerce, Justice, Science, and Related Agencies hearing on fiscal year 2027 budget requests on Capitol Hill in Washington, DC, on April 22, 2026. Saul Loeb | AFP | Getty Images Sen. Chris Coons , D-Del., pressed Commerce Secretary Howard Lutnick about allowing Nvidia 's H200 chips for artificial intelligence to be sold to China in a letter first reported by CNBC. The letter follows Coons questioning Lutnick at a Senate Appropriations subcommittee hearing last week. Lutnick said it was his understanding the U.S. had not sold any H200 to Chinese companies. "We have not sold them any chips as of yet," Lutnick said in response to a question from Coons at the April 22 hearing. Lutnick's statement contradicted remarks from Nvidia CEO Jensen Huang , who told reporters in March that Nvidia had gotten approvals from both the US and Chinese government to sell H200 chips to China. "Your statements before the committee appear to contradict Huang's comments," Coons said in the letter sent Thursday. Coons, who is also a member of the Senate Foreign Relations Committee, sent his letter weeks before President Donald Trump is scheduled to travel to China to meet with Chinese President Xi Jinping. The Trump administration in 2025 told Nvidia it would need a license to export chips to China and a handful of other countries. Previously at least one-fifth of Nvidia's data center revenue came from China sales. Coons added that he remained "deeply concerned" about the export of H200 chips to China and "allowing any companies in China to purchase these products presents a serious risk to our national security and economic leadership." In the letter, Coons also asked Lutnick to respond in the next week with how many H200 chips received licenses for export to China, how many have been shipped to China and how many more the Commerc...
Will OpenAI ever bring a smartphone, or some other smartphone-like device, to market? On this episode of the Everybody's Business podcast, we are joined by Bloomberg’s Mark Gurman, the author of the Power On newsletter and managing editor for consumer technology. He tells Stacey Vanek Smith and Max Chafkin whether such a device could succeed and what the next iPhone moment might look like. (Source...
Will OpenAI ever bring a smartphone, or some other smartphone-like device, to market? On this episode of the Everybody's Business podcast, we are joined by Bloomberg’s Mark Gurman, the author of the Power On newsletter and managing editor for consumer technology. He tells Stacey Vanek Smith and Max Chafkin whether such a device could succeed and what the next iPhone moment might look like. (Source: Bloomberg)
Korneeva_Kristina/iStock via Getty Images Overview When I previously covered the BlackRock Floating Rate Income Trust ( BGT ), I downgraded my rating to a sell because of the poor earnings and likelihood of a reduced dividend. Since then, the debt markets have worsened, and there are growing concerns around the rate of defaults. The fund has experienced a slight pullback in share price, and I beli...
Korneeva_Kristina/iStock via Getty Images Overview When I previously covered the BlackRock Floating Rate Income Trust ( BGT ), I downgraded my rating to a sell because of the poor earnings and likelihood of a reduced dividend. Since then, the debt markets have worsened, and there are growing concerns around the rate of defaults. The fund has experienced a slight pullback in share price, and I believe there are more downside risks. BGT has released an updated annual report for its 2025 period, which prompted me to revisit the fund's earnings, risk profile, and outlook for the remainder of the year. At the time of my last coverage, BGT traded at a discount to NAV of 1.88%. Following the fund's pullback in share price, BGT now trades at a slightly larger discount to NAV of 3.08%. For reference, the fund has traded at an average discount to NAV of 3.45% over the last five years. Under normal conditions, I would say that this presents an attractive opportunity for accumulation. However, the fund's floating rate nature means that the success of BGT is ultimately reliant on a more favorable interest rate environment. As long as interest rates remain elevated, I believe the fund will continue to struggle to generate meaningful earnings and be exposed to the risk of defaults. CEF Data BGT now offers a starting dividend yield a little over 13% while issuing those payouts on a monthly basis. However, I believe that the fund's payouts are very generous, and BGT continues to pay out more than it actually earns. While income investors may enjoy the high level of dividend income generated, the payouts are actually hurting the stability of the underlying NAV. Therefore, the fund is at risk of seeing its share price continue its downward decline, which offsets the benefit of receiving a high yield. I believe that the distributions may eventually be cut when the discounted valuation is minimized. Fund Strategy According to the fund overview , BGT has total managed assets of $339.2M t...
Nathan Peterson, director of derivatives research and strategy at the Schwab Center for Financial Research, is telling clients to slow down on semiconductors after one of the sharpest rallies the group has produced in years. On the firm’s daily Schwab Market Update audio segment, Peterson noted that the PHLX Semiconductor Index climbed nearly 50% from ... Schwab Analyst: Chip Stocks Face ‘Overhead...
Nathan Peterson, director of derivatives research and strategy at the Schwab Center for Financial Research, is telling clients to slow down on semiconductors after one of the sharpest rallies the group has produced in years. On the firm’s daily Schwab Market Update audio segment, Peterson noted that the PHLX Semiconductor Index climbed nearly 50% from ... Schwab Analyst: Chip Stocks Face ‘Overhead Supply’ Risk After 50% Rally Off March Lows