Justin Paget/DigitalVision via Getty Images Spain, long an economic laggard, has emerged as one of Europe’s growth engines in recent years, with tourism playing a key role. I covered the iShares MSCI Spain ETF ( EWP ) back in January, and since then EWP is up about 4.5%, edging out the S&P 500 (~4%) in that same time period. Unfortunately, however, I suspect that Spain will face headwinds this sum...
Justin Paget/DigitalVision via Getty Images Spain, long an economic laggard, has emerged as one of Europe’s growth engines in recent years, with tourism playing a key role. I covered the iShares MSCI Spain ETF ( EWP ) back in January, and since then EWP is up about 4.5%, edging out the S&P 500 (~4%) in that same time period. Unfortunately, however, I suspect that Spain will face headwinds this summer, as I believe vacationing will cool off amid surging fuel prices, rising costs of living, and weakening consumer sentiments. I believe this tourism cool-off will be broad, geographically speaking, although value-oriented countries and regions may take less of a hit. With that in mind, I am downgrading my rating for EWP to a hold. EWP and Tourism First, I should note that EWP doesn’t hold a large amount of hospitality or leisure stocks. Finance, utilities, and industrials actually make up most of the portfolio. You might wonder then why I am focusing on tourism while analyzing EWP. My reasoning breaks down to some key points: Roughly 13% of employment in Spain is related to tourism. If tourism cools and unemployment rises, consumption overall will cool, and people may fall behind on loans, credit cards, etc., thus hurting the finance sector. Roughly 20% of businesses in Spain are tied to tourism (ibid.). Business loans, business consumption, utility usage, etc., could all decline substantially. Construction and government spending on infrastructure could decline, dragging down the economy and hitting firms like Ferrovial SE ( FER ). Amadeus IT Group, S.A. ( AMADF ), makes up about 4% of EWP. While this is a technology firm, it focuses heavily on tourism. A global tourism slump would have an especially outsized impact on this company. All in all, tourism accounts for about 13% of Spain’s GDP . If the tourism sector does take a hit this summer, it’ll have a broad impact on Spain’s economy, and that will all but inevitably show up in stock markets. As such, while EWP is not...
Investing.com -- Meta Platforms Inc. plans to cut 10% of its workforce, or roughly 8,000 employees, in an effort to boost efficiency and offset heavy spending on artificial intelligence, according to a Bloomberg report on Thursday.
Investing.com -- Meta Platforms Inc. plans to cut 10% of its workforce, or roughly 8,000 employees, in an effort to boost efficiency and offset heavy spending on artificial intelligence, according to a Bloomberg report on Thursday.
New Zealand all-rounder Suzie Bates will retire from international cricket after this year's Women's T20 World Cup, ending an illustrious 20-year career.
New Zealand all-rounder Suzie Bates will retire from international cricket after this year's Women's T20 World Cup, ending an illustrious 20-year career.
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys. At Navios Maritime Partners, a filing with the SEC revealed that on Tuesday, See R
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys. At Navios Maritime Partners, a filing with the SEC revealed that on Tuesday, See R
Funding markets have remained remarkably calm even as investors continue to debate risks around Federal Reserve balance-sheet policy and the outlook for repo. Jerome Schneider, managing director at Pimco and head of short-term portfolio management and funding, joins Ira Jersey, Bloomberg Intelligence chief US interest-rate strategist, and Will Hoffman, BI US and Canadian rates strategist, on this ...
Funding markets have remained remarkably calm even as investors continue to debate risks around Federal Reserve balance-sheet policy and the outlook for repo. Jerome Schneider, managing director at Pimco and head of short-term portfolio management and funding, joins Ira Jersey, Bloomberg Intelligence chief US interest-rate strategist, and Will Hoffman, BI US and Canadian rates strategist, on this Macro Matters edition of the FICC Focus podcast. Schneider discusses why the funding backdrop looks
Microsoft stock is sinking as the company offers voluntary buyouts to 7% of the U.S. workforce. Here’s why long-term investors should consider buying the dip in MSFT shares.
Microsoft stock is sinking as the company offers voluntary buyouts to 7% of the U.S. workforce. Here’s why long-term investors should consider buying the dip in MSFT shares.
The Swiss National Bank maintains an increased readiness to step into currency markets, Vice President Antoine Martin told public broadcaster RTS. “We have an elevated willingness to intervene in the FX markets,” Martin said in a television interview broadcast on Thursday. “What we have seen since the start of the conflict in Iran is that the Swiss franc has fallen in value. So yes, we are concern...
The Swiss National Bank maintains an increased readiness to step into currency markets, Vice President Antoine Martin told public broadcaster RTS. “We have an elevated willingness to intervene in the FX markets,” Martin said in a television interview broadcast on Thursday. “What we have seen since the start of the conflict in Iran is that the Swiss franc has fallen in value. So yes, we are concerned about the strength of the Swiss franc, we have said that we are prepared to take action. But since the start of the conflict, things have gone rather well.” An account of the SNB’s most recent policy meeting — where interest rates were kept at zero — showed that officials agreed that they should remain on high alert about the strength of the franc and be especially ready to take action if required. The Swiss currency currently trades at lower levels versus the euro and the dollar than when the war started. SNB Reports First-Quarter Loss as Strong Franc Erases Gold Gain Swiss Real Wages Jump Most in Almost Two Decades in Warning to SNB SNB Outlook for Inflation, Growth Too Optimistic, Economists Say Turning to Swiss banking, Martin said that the SNB “fully support the measures proposed yesterday by the Federal Council.” The government on Wednesday outlined plans that would add billions of dollars to UBS Group AG’s capital requirements, deepening a showdown with the lender over its proposed banking reforms. “Recent experience shows that banks tend to paint a grim picture,” Martin said. SNB Reports First-Quarter Loss as Strong Franc Erases Gold Gain Swiss Real Wages Jump Most in Almost Two Decades in Warning to SNB SNB Outlook for Inflation, Growth Too Optimistic, Economists Say
International stocks have been hot over the past 16 months, significantly outperforming U.S. stocks since the beginning of 2025. That outperformance continued into 2026, as most international indexes are up, while U.S. markets have mostly sputtered through the first four months of the year. Diversifying your portfolio with international stocks and exchange-traded funds (ETFs) is more important now...
International stocks have been hot over the past 16 months, significantly outperforming U.S. stocks since the beginning of 2025. That outperformance continued into 2026, as most international indexes are up, while U.S. markets have mostly sputtered through the first four months of the year. Diversifying your portfolio with international stocks and exchange-traded funds (ETFs) is more important now than it has been in recent years, when U.S. stocks were surging. With market uncertainty and the potential for muted long-term returns in the U.S., particularly among large caps and tech stocks, investors may find some alpha overseas. Image source: Getty Images. Continue reading
Dover on Thursday reported healthy first-quarter results, highlighted by double-digit earnings growth and a brimming order book. In an AI-obsessed market, the industrial conglomerate is sometimes overlooked by investors. On Thursday, at least, it's getting a much-deserved day in the sun. Revenue rose 10% year over year to $2.05 billion, topping the LSEG consensus of $2 billion. On an organic basis...
Dover on Thursday reported healthy first-quarter results, highlighted by double-digit earnings growth and a brimming order book. In an AI-obsessed market, the industrial conglomerate is sometimes overlooked by investors. On Thursday, at least, it's getting a much-deserved day in the sun. Revenue rose 10% year over year to $2.05 billion, topping the LSEG consensus of $2 billion. On an organic basis, which removes the impact of acquisitions and currency exchange fluctuations, total revenue grew 5.3%. Adjusted earnings per share (EPS) in the three months ended in March totaled $2.28, a 2-cent beat versus the LSEG consensus, and up 11.2% from a year earlier. DOV YTD mountain Dover YTD Shares of Dover jumped about 5.5% on Thursday to roughly $229 apiece. Dover entered Thursday up just shy of 11% year to date, essentially in line with the broader industrial sector . The stock's all-time closing high came on Feb. 20 at $233.31, eight days before the Iran war broke out and muddied the global economic outlook. Bottom line A round of applause for Dover and CEO Richard Tobin. Going into earnings, we said we were on the fence about whether Dover still belonged in the portfolio — not because it's a poorly run company, or didn't have anything exciting going on. The debate essentially boiled down to this: Did Dover have enough going right to capture investors' attention and dollars in a market dominated by the artificial intelligence gold rush? We knew it had some businesses riding the AI wave, specifically around liquid cooling in data centers and spending to update the electric grid. But it also has a bunch of other businesses serving markets like can-making, vehicle repair lifts, and textile printing that, well, aren't exactly in the market zeitgeist. Against that backdrop, would Dover be able to break through? Were there better opportunities elsewhere, even staying within the industrial sector, that had more AI exposure, a la Club name GE Vernova ? We're stepping off the fence...
Nuclear energy is making a comeback in the U.S. in a big way. Fossil fuels contribute to global warming, and solar and wind energy face limitations. Add to that the rapid adoption of energy-hungry artificial intelligence (AI) data centers, and you have a perfect storm driving demand for nuclear power. It's a bit ironic, then, that Nvidia (NASDAQ: NVDA) , whose graphics processing units (GPUs) unde...
Nuclear energy is making a comeback in the U.S. in a big way. Fossil fuels contribute to global warming, and solar and wind energy face limitations. Add to that the rapid adoption of energy-hungry artificial intelligence (AI) data centers, and you have a perfect storm driving demand for nuclear power. It's a bit ironic, then, that Nvidia (NASDAQ: NVDA) , whose graphics processing units (GPUs) underpin advances in AI, is partnering with nuclear start-up Oklo (NYSE: OKLO) to advance the next generation of nuclear power. Image source: The Motley Fool. Continue reading