honglouwawa/iStock via Getty Images The threat to the S&P 500 is not geopolitical risk, rising rates, or stagflation, but AI. AI is eroding the certainty that justifies today's equity valuation multiples. You cannot price decades of cash flows you can no longer see. Last month, two prominent voices in finance converged on the same argument from different directions. Chamath Palihapitiya published ...
honglouwawa/iStock via Getty Images The threat to the S&P 500 is not geopolitical risk, rising rates, or stagflation, but AI. AI is eroding the certainty that justifies today's equity valuation multiples. You cannot price decades of cash flows you can no longer see. Last month, two prominent voices in finance converged on the same argument from different directions. Chamath Palihapitiya published The Collapse of Terminal Value , asking what happens to equity markets if AI makes every competitive moat temporary. Jordi Visser's The Repricing of Time framed the same dynamic differently: AI does not merely disrupt businesses, it compresses the duration of competitive advantage, turning long-duration equity franchises into short-dated call options on execution speed. Both essays point toward the same conclusion, AI does not merely disrupt businesses, it disrupts the certainty that equity valuation depends on. And without certainty, the multiples that hold up today's market have no foundation. Stock Prices Are Mostly About the Future When you buy a stock, you are not simply buying this year's earnings. You are buying a claim on all future earnings, discounted back to today. In financial practice, a stock price is the sum of all future cash flows a company is expected to generate, discounted back to today. The vast majority of equity value lives not in what the business earns this year or next, but in cash flows projected far into the future. The S&P 500 currently trades at approximately 28x trailing earnings. The long-run historical average is roughly 19.7x. The gap between where markets trade today and where they have historically averaged reflects, in large part, investor confidence that today's dominant companies will sustain their competitive advantages for decades. Source: MacroMicro To understand what this means in practice, start with how stocks are valued. Every stock price is, in theory, the sum of all future cash flows a company will generate, each discounted ba...
10'000 Hours/DigitalVision via Getty Images In January 2026, new homes built in the United States clocked in at their most affordable level of the last four years. This assessment is based on the following data points for the month: Median new home sale price: $400,500 Median household income: $86,506 Average 30-year conventional fixed mortgage rate: 6.10% Of these three factors, the average 30-ye...
10'000 Hours/DigitalVision via Getty Images In January 2026, new homes built in the United States clocked in at their most affordable level of the last four years. This assessment is based on the following data points for the month: Median new home sale price: $400,500 Median household income: $86,506 Average 30-year conventional fixed mortgage rate: 6.10% Of these three factors, the average 30-year fixed rate mortgage of 6.10% for January 2026 is the biggest contributor to the improvement in affordability. This is the lowest average monthly mortgage rate in the U.S. since September 2022. At the same time, the median new home sale price of $400,500 ranks as the third-lowest median price recorded for new home prices in any month since July 2021, four months after the administration unleashed the high inflation that characterized the former President's term in office. Meanwhile, median household income has risen to its highest level on record, even after adjusting for inflation. Overall, these three things combined to make the monthly mortgage payment on a new home purchased at the nation's median sale price fall lower within the range of affordability in January 2026. The mortgage payment of a typical new home purchased in this month by a typical American household would consume 33.7% of its household income. The following chart shows where January 2026's affordability level fits within the data for this measure since January 2000: Looking forward, the 30-year mortgage rate fell a little further in February 2026, providing a tailwind for affordability of the largest expense most American households have going into the month. References U.S. Census Bureau. New Residential Sales Historical Data. Houses Sold. [ Excel Spreadsheet ]. Accessed 19 March 2026. U.S. Census Bureau. New Residential Sales Historical Data. Median and Average Sale Price of Houses Sold. [ Excel Spreadsheet ]. Accessed 19 March 2026. Freddie Mac. 30-Year Fixed Rate Mortgages Since 1971. [ Online Dat...
We delve into the best stories on how sport is changing around the climate crisis, and what can be done to navigate a way forward To subscribe to The Hotspot, just visit this page Nelson Mandela said: “Sport can create hope where once there was only despair.” Too optimistic? In 2026, almost certainly. Sport is still a common language, uniting unlikely groups like an all-powerful Esperanto, but it ...
We delve into the best stories on how sport is changing around the climate crisis, and what can be done to navigate a way forward To subscribe to The Hotspot, just visit this page Nelson Mandela said: “Sport can create hope where once there was only despair.” Too optimistic? In 2026, almost certainly. Sport is still a common language, uniting unlikely groups like an all-powerful Esperanto, but it is in trouble. The pitches we play on, rivers we swim, seas we surf, mountains we climb, parks we run in, air we breathe – all are being degraded by the burning of fossil fuels as the climate crisis turns the sporting landscape upside down. Continue reading...
The "Strategic Intelligence: Renewable Energy (2026)" report projects a significant expansion in global renewable energy capacity, anticipated to more than double from 4,107GW in 2025 to 8,430GW by 2031. The rapid growth is largely driven by solar photovoltaic (PV) becoming the largest source of renewable electricity globally, with notable dominance in the Asia-Pacific region, particularly China. ...
The "Strategic Intelligence: Renewable Energy (2026)" report projects a significant expansion in global renewable energy capacity, anticipated to more than double from 4,107GW in 2025 to 8,430GW by 2031. The rapid growth is largely driven by solar photovoltaic (PV) becoming the largest source of renewable electricity globally, with notable dominance in the Asia-Pacific region, particularly China. This development underscores a major shift in the global power mix, highlighting considerable...
In this article BLK Follow your favorite stocks CREATE FREE ACCOUNT The BlackRock logo is displayed at their headquarters on November 14, 2022 in New York City. BlackRock and Saudi Arabia's sovereign wealth fund signed an agreement to jointly explore infrastructure projects in the Middle East. Leonardo Munoz | Getty Images BlackRock reported a rise in first-quarter profit on Tuesday, as the asset...
In this article BLK Follow your favorite stocks CREATE FREE ACCOUNT The BlackRock logo is displayed at their headquarters on November 14, 2022 in New York City. BlackRock and Saudi Arabia's sovereign wealth fund signed an agreement to jointly explore infrastructure projects in the Middle East. Leonardo Munoz | Getty Images BlackRock reported a rise in first-quarter profit on Tuesday, as the asset manager saw strong inflows into its exchange-traded funds and earned more from performance fees, sending its shares up 2.8% in trading before the bell. The company's active ETFs have attracted investors looking to capitalize on market dispersion through its low-cost products, at a time when macroeconomic pressures from global geopolitics have weighed on the broader market. BlackRock saw total net inflows of $130 billion in the first quarter of the year, with the lion's share going into its iShares ETFs. Its private markets business drew inflows of $9 billion in the quarter. The company's assets under management have also remained resilient, driven by strong inflows that have helped the investment manager mitigate the impact of a falling market. Total AUM at the world's largest asset manager came in at $13.89 trillion, up from $11.58 trillion in the year-ago period. Shares of the company have declined 4.4% so far in 2026, underperforming its smaller peer, State Street. The S&P 500 index lost 4.6% in the first three months of the year. Performance fees grow BlackRock's expansion into private markets has also helped the company, as these vehicles generate higher yields and trigger performance payouts even when the broader market is volatile. The strategies — active ETFs and alternative investments — have allowed the asset manager to diversify during periods of market turmoil. During the first quarter of 2026, it helped BlackRock earn more from performance fees. The asset manager's investment advisory performance fees came in at $272 million in the first months of 2026,...
If you want to avoid struggling financially during your senior years, saving for retirement really isn't optional. Social Security might pay you a decent monthly benefit. But if you're an average earner, those monthly checks will only replace about 40% of your pre-retirement wages. To live comfortably, retirees typically need to replace a good 70% to 80% of their former wages. So your retirement s...
If you want to avoid struggling financially during your senior years, saving for retirement really isn't optional. Social Security might pay you a decent monthly benefit. But if you're an average earner, those monthly checks will only replace about 40% of your pre-retirement wages. To live comfortably, retirees typically need to replace a good 70% to 80% of their former wages. So your retirement savings may need to make up the difference. Image source: Getty Images. Continue reading
The United States market has experienced a notable upswing, climbing 4.2% in the last week and showing a robust 29% increase over the past year, with earnings anticipated to grow by 16% annually. In this thriving environment, growth companies with high insider ownership can be particularly appealing as they often indicate strong confidence from those most familiar with the business's potential and...
The United States market has experienced a notable upswing, climbing 4.2% in the last week and showing a robust 29% increase over the past year, with earnings anticipated to grow by 16% annually. In this thriving environment, growth companies with high insider ownership can be particularly appealing as they often indicate strong confidence from those most familiar with the business's potential and operations.
hapabapa JPMorgan Chase ( JPM ) stock slipped 0.9% in Tuesday premarket trading after the Wall Street giant trimmed its guidance for 2026 firmwide net interest income (NII). Q1 earnings and revenue, though, both topped the average analyst estimates, driven by growth across the bank's businesses combined with a lower provision for credit losses. Firmwide, the bank expects NII of ~$103B, market depe...
hapabapa JPMorgan Chase ( JPM ) stock slipped 0.9% in Tuesday premarket trading after the Wall Street giant trimmed its guidance for 2026 firmwide net interest income (NII). Q1 earnings and revenue, though, both topped the average analyst estimates, driven by growth across the bank's businesses combined with a lower provision for credit losses. Firmwide, the bank expects NII of ~$103B, market dependent, compared with the Visible Alpha consensus of $104.6B and its previous outlook of $104.5B. The company reaffirmed its guidance for 2026 NII, excluding markets, of ~$95B. JPMorgan Chase ( JPM ) also still expects 2026 adjusted expenses of ~$105B. Card service net charge-off rate is still expected to be ~3.4%. Q1 EPS of $5.94, topping the average analyst estimate of $5.51, increased from adjusted EPS of $5.23 in Q4 2025 and EPS of $5.07 in Q1 2025. Adjusted revenue of $50.5B, topping the $48.9B consensus, rose from $46.8B in the prior quarter and $46.0B a year ago. Q1 return on common equity improved to 19% from 15% in Q4 2025 and 18% in last year's Q1. Provision for credit losses was $2.51B, lower than the Visible Alpha consensus of $3.05B, compared with $4.66B in the previous quarter and $3.31B a year ago. Net interest income (managed) of $25.5B, exceeding the Visible Alpha consensus of $25.3B, grew from $25.0B in Q4 and $23.4B in last year’s Q1. JPMorgan Chase’s ( JPM ) total loans at March 31, 2026, edged up to $1.50T from $1.49T at Dec. 31, 2025. Deposits, at $2.68T, rose from $2.56T at the end of Q4. Q1 noninterest expense of $26.9B vs. $26.2B Visible Alpha estimate, compared with $24.0B in Q4 and $23.6B in last year’s Q1. JPMorgan Chase ( JPM ) Chairman and CEO Jamie Dimon continued to see a remarkably resilient consumer but also noted risks overhanging the economy. "The U.S. economy remained resilient in the quarter, with consumers still earning and spending and businesses still healthy," he said. "Several tailwinds are supporting this resiliency, including incr...
CrowdStrike (NASDAQ: CRWD) has quietly built the financial profile of a blue-chip company, and investors are beginning to ask whether it belongs in the most famous index in the world. No formal announcement has been made, but the case for Dow Jones Industrial Average inclusion is worth examining carefully. How Dow Inclusion Actually Works The ... From Growth Stock to Blue Chip: Is CrowdStrike Read...
CrowdStrike (NASDAQ: CRWD) has quietly built the financial profile of a blue-chip company, and investors are beginning to ask whether it belongs in the most famous index in the world. No formal announcement has been made, but the case for Dow Jones Industrial Average inclusion is worth examining carefully. How Dow Inclusion Actually Works The ... From Growth Stock to Blue Chip: Is CrowdStrike Ready for the Dow?
Allen Allnoch/iStock via Getty Images Co-authored with Beyond Saving. The major market indices have been giving up ground, and the Fear & Greed Index has been in the "Extreme Fear" zone for quite some time, only easing a bit with yesterday's developments in the Middle East. Source . CNN The headlines are focused on soaring oil prices ( CO1:COM ) and the evolving war in Iran. Yet, considering the r...
Allen Allnoch/iStock via Getty Images Co-authored with Beyond Saving. The major market indices have been giving up ground, and the Fear & Greed Index has been in the "Extreme Fear" zone for quite some time, only easing a bit with yesterday's developments in the Middle East. Source . CNN The headlines are focused on soaring oil prices ( CO1:COM ) and the evolving war in Iran. Yet, considering the reality of the situation, the major market indices have been rather tame. They are down, but it's hardly dramatic. Data by YCharts The conflict in Iran is creating stress on the global economy, primarily due to the limited traffic through the Strait of Hormuz. We discussed with members how this has ramifications throughout the world, including the U.S. economy. For now, despite a ceasefire being in effect and negotiations underway, there is an ongoing threat of hostilities resuming and causing a reversal of the current rally, which is an obvious potential catalyst. So what does that mean for investors? Should you just sell everything and sit on the sidelines? Should you run outside with your hair on fire, screaming about the sky falling? To borrow a Yogi-ism, forecasting is hard, especially about the future. If the Strait of Hormuz remains closed for months, it has enormous economic and humanitarian ramifications for the world. If it opens up tomorrow, that relieves a lot of the risk suddenly. We don't want to go to cash because we use the cash flow from our portfolio, and selling comes with the risk that things turn out well and prices remain high. On the other hand, we want to avoid buying things that are trading at high valuations and are at risk of declining more. Buying low is always a good idea when you are investing, regardless of whether the future is bullish or bearish. Above all, make sure you are buying investments that you are comfortable holding through a downswing. If you're going to bail and sell something because it is down 50%, then you probably shouldn't be...
standret/iStock via Getty Images North American participants shrugged off the pessimism seen in Asia Pacific and Europe yesterday after the US-Iran negotiations broke down over the weekend. The optimism was contagious, and reports that another round of negotiations are being contemplated during the ceasefire that expires next week. The dollar is broadly weaker. Global equities and bonds have ralli...
standret/iStock via Getty Images North American participants shrugged off the pessimism seen in Asia Pacific and Europe yesterday after the US-Iran negotiations broke down over the weekend. The optimism was contagious, and reports that another round of negotiations are being contemplated during the ceasefire that expires next week. The dollar is broadly weaker. Global equities and bonds have rallied today, and crude oil is softer. Today’s highlights include a much smaller than expected March Chinese trade surplus and tightening by the Monetary Authority of Singapore. The US earnings reporting season continues, and the World Bank-IMF meetings get underway. At least five Federal Reserve officials speak today, and the US reports March PPI. In byelections yesterday, the Liberal Party in Canada picked up two seats, giving Prime Minister Carney a parliamentary majority. Prices G10 • The knee-jerk risk-off expressed in Asia Pacific trading took the euro slightly below $1.1660 early yesterday, about a fifth of a cent below the pre-weekend low. After consolidating in Europe, the North American session bid the euro to new session highs near $1.1765. It recorded an ostensibly bullish outside up day and posted its highest close since the war began. Follow-through buying today carried the single currency to almost $1.18. The $1.1800-25 area offers the next important hurdle. The day before the war began, the euro settled slightly above $1.1810. Options for about 1.3 bln euros at $1.18 expire tomorrow. • The dollar gapped higher against the yen yesterday and reached JPY159.85 before the buying dried up. The dollar reversed lower in North American dealing, closed the cap and left a potentially bearish shooting star candlestick in its wake. New session lows were made in late North American activity, near JPY159.30. The greenback has been sold to JPY158.85 today, where options for $1.24 bln expire today. Still, additional losses look likely. The next area of support may be around JPY...
Lisa Nandy says there are no grounds to refer Axel Springer deal to Ofcom, ending almost three years of uncertainty for titles Business live – latest updates The culture secretary has cleared Axel Springer’s £575m takeover of the Telegraph, paving the way for the end of almost three years of uncertainty over the ownership of the titles. Lisa Nandy said that she does not believe there are grounds t...
Lisa Nandy says there are no grounds to refer Axel Springer deal to Ofcom, ending almost three years of uncertainty for titles Business live – latest updates The culture secretary has cleared Axel Springer’s £575m takeover of the Telegraph, paving the way for the end of almost three years of uncertainty over the ownership of the titles. Lisa Nandy said that she does not believe there are grounds to intervene and refer the deal to the media regulator, Ofcom, for an in-depth regulatory investigation. Continue reading...
越南央行表示，随时准备进行干预以确保外汇市场稳定，并承诺控制通货膨胀，改善银行体系面临的流动性问题。 越南央行货币政策负责人Pham Chi Quang在河内举行的季度发布会上表示，越南盾面临“来自复杂多变的全球形势和国内挑战”的压力。“在此背景下，央行灵活管理越南盾汇率，以帮助吸收外部冲击，同时协调其他货币政策以稳定国内外汇市场。”他说。 今年以来越南盾对美元汇率变化不大，但越南央行过去注意到资...
越南央行表示，随时准备进行干预以确保外汇市场稳定，并承诺控制通货膨胀，改善银行体系面临的流动性问题。 越南央行货币政策负责人Pham Chi Quang在河内举行的季度发布会上表示，越南盾面临“来自复杂多变的全球形势和国内挑战”的压力。“在此背景下，央行灵活管理越南盾汇率，以帮助吸收外部冲击，同时协调其他货币政策以稳定国内外汇市场。”他说。 今年以来越南盾对美元汇率变化不大，但越南央行过去注意到资金外流，特别是因为个人购买黄金以对冲汇率损失和通胀。 责任编辑：陈钰嘉
GummyBone General Motors Company ( GM ) gained in early trading after Deutsche Bank upgraded the Detroit auto giant to a Buy rating after having it slotted at Hold. Analyst Edison Yu and his team view the recent pullback in the stock as an attractive entry point to gain exposure to a potential multi-year re-rate story. "Undoubtedly, the near-term volatility can be attributed to geopolitical develo...
GummyBone General Motors Company ( GM ) gained in early trading after Deutsche Bank upgraded the Detroit auto giant to a Buy rating after having it slotted at Hold. Analyst Edison Yu and his team view the recent pullback in the stock as an attractive entry point to gain exposure to a potential multi-year re-rate story. "Undoubtedly, the near-term volatility can be attributed to geopolitical developments, but our thesis is built on GM’s operational resilience, which it has demonstrated multiple times in recent years," highlighted Yu, Although the 2026 outlook is naturally less stable than a few months ago, Deutsche Bank continues to believe many of GM's ( GM ) profit drivers are within the company’s control. Notably, GM's ( GM ) vehicle mix is seen driving further gains, boosted by the changeover to the next-gen truck platform in 2027 and lower EV losses post asset write-downs. In addition, the software+services stream appears to be gaining momentum, according to Yu. "Although recent macro instability has triggered worries regarding the health of the auto market, our channel checks indicate no change thus far in consumer behavior or significant volume declines. This is especially true for the first quarter," noted Yu. Deutsche Bank lifted its price target on GM ( GM ) to $90 from $83 based on a 3.25X multiple to the 2026 auto EBITDAP estimate + 6X GM Financial earnings + adding back China equity income at 6X. Shares of GM ( GM ) rose 2.0% in premarket trading to $78.34 vs. the 52-week range of $43.77 to $87.62. More on General Motors General Motors: Why This Auto Stock Could Be The Most Interesting One General Motors: Free Cash Flow Hums Along, Raising My Target Again General Motors (GM) Stock Analysis: Why The Quant System Says "Strong Buy" | 2-Minute Analysis Amazon expands its auto business by adding mainstream brands Wholesale used car prices jump to more than a two-year high in March
Albertsons Companies press release ( ACI ): Q4 Non-GAAP EPS of $0.48 beats by $0.04 . Revenue of $20.25B (+7.7% Y/Y) misses by $200M . The increase included approximately $1.4 billion incremental net sales related to the extra week in the fourth quarter of fiscal 2025. Identical sales increased 0.7%, primarily driven by pharmacy sales, which were impacted more than expected by the pricing headwind...
Albertsons Companies press release ( ACI ): Q4 Non-GAAP EPS of $0.48 beats by $0.04 . Revenue of $20.25B (+7.7% Y/Y) misses by $200M . The increase included approximately $1.4 billion incremental net sales related to the extra week in the fourth quarter of fiscal 2025. Identical sales increased 0.7%, primarily driven by pharmacy sales, which were impacted more than expected by the pricing headwinds related to the Inflation Reduction Act ("IRA") and a mix shift within the broader pharmacy industry. The Company also continued to grow its digital sales with a 16% sales increase during the fourth quarter of fiscal 2025. These increases in Net sales and other revenue were partially offset by a net reduction in sales driven by store closures since the fourth quarter of fiscal 2024. Identical sales increased 0.7% Digital sales increased 16% Loyalty members increased 12% to 51.2 million The Company is providing its fiscal 2026 outlook as follows: Identical sales growth in the range of 0.0% to 1.0% Adjusted EBITDA in the range of $3.850 billion to $3.925 billion Adjusted net income per Class A common share in the range of $2.22 to $2.32 per share vs $2.29 consensus Effective income tax rate in the range of 24% to 25% Capital expenditures in the range of $2.0 billion to $2.2 billion More on Albertsons Companies Outlining The Challenges And My 'Hold' With Albertsons Albertsons: Is This Stock Too Good To Be True? Albertsons Companies Q4 2026 Earnings Preview Albertsons prices $2.1B senior notes offering Seeking Alpha’s Quant Rating on Albertsons Companies
Shares in the Netherlands-based company have risen more than 40% so far this year, lifted by the rapid construction of data centres and booming demand for cutting-edge chips from customers such as Nvidia, which rely on ASML's tools. ASML supplies lithography machines to chipmakers including Taiwan's TSMC, which manufactures processors for Nvidia and Apple. Analysts expect a strong quarter and s...
Shares in the Netherlands-based company have risen more than 40% so far this year, lifted by the rapid construction of data centres and booming demand for cutting-edge chips from customers such as Nvidia, which rely on ASML's tools. ASML supplies lithography machines to chipmakers including Taiwan's TSMC, which manufactures processors for Nvidia and Apple. Analysts expect a strong quarter and see scope for ASML to raise its 2026 sales outlook, as memory-chip makers expand capacity to meet AI-driven demand.
rafal_olechowski Shares of Sana Biotechnology ( SANA ) added ~22% in the premarket on Tuesday after announcing a collaboration with Mayo Clinic to advance its early-stage candidate SC451 for patients with type 1 diabetes. Designed as a one-time therapy, SC451 allows the administration of pancreatic islet cells to the body, helping patients with type 1 diabetes to achieve long-term glucose control ...
rafal_olechowski Shares of Sana Biotechnology ( SANA ) added ~22% in the premarket on Tuesday after announcing a collaboration with Mayo Clinic to advance its early-stage candidate SC451 for patients with type 1 diabetes. Designed as a one-time therapy, SC451 allows the administration of pancreatic islet cells to the body, helping patients with type 1 diabetes to achieve long-term glucose control without the need for insulin therapy or immunosuppression. In connection with the deal, Mayo Clinic and Sana ( SANA ) will collaborate in areas such as clinical development and post-treatment care of SC451, which is expected to enter Phase 1 clinical development this year. Under the partnership, the nonprofit healthcare organization will also make an equity investment in SANA and receive an option to make an additional equity investment. Sana ( SANA ) expects to file an Investigational New Drug application with the FDA for SC451 this year. More on Sana Biotechnology Sana Biotechnology, Inc. (SANA) Presents at The Citizens Life Sciences Conference 2026 Transcript Sana Biotechnology, Inc. (SANA) Presents at TD Cowen 46th Annual Health Care Conference Transcript Sana Biotechnology: A Small, Speculative Play Sana Biotechnology GAAP EPS of -$0.21 misses by $0.07 Seeking Alpha’s Quant Rating on Sana Biotechnology
Soaring inflation expectations are a warning sign for investors who have bought into the ceasefire-fueled rebound in stocks over the past few trading sessions, say some Wall Street market-watchers. The S&P 500 Index climbed on Monday and has now erased all of its declines since the Iran war began. That’s even as oil prices remain close to the highest level since 2022 and with the US blockade of Ir...
Soaring inflation expectations are a warning sign for investors who have bought into the ceasefire-fueled rebound in stocks over the past few trading sessions, say some Wall Street market-watchers. The S&P 500 Index climbed on Monday and has now erased all of its declines since the Iran war began. That’s even as oil prices remain close to the highest level since 2022 and with the US blockade of Iranian ports threatening to tighten global markets further. A report last week showing a gauge of consumer inflation expectations jumped the most in a year underscores the risk of betting price pressures will prove temporary in the face of still-elevated energy prices, say strategists including Michael O’Rourke at JonesTrading Institutional Services LLC. “There’s risk in this rally, there’s risk in the levels we’re at, and the fundamental picture since the beginning of the year is considerably worse than where we started,” said O’Rourke, the firm’s chief market strategist. “All it takes is one thread to get pulled in the geopolitical landscape and things can start coming apart again.” US consumer sentiment sank in recent weeks to a record low, signaling mounting worries about inflation due to the war, a University of Michigan survey showed Friday. Meanwhile, one-year inflation expectations jumped to 4.8% from 3.8% — the biggest increase since President Donald Trump ’s rollout of sweeping tariffs in April 2025. Uncertainty around the impact of rising oil prices on inflation is rising outside the US, as well. Expectations for inflation among global investors are at an almost five-year high, according to the latest Bank of America Corp. survey of fund managers. Read: Investors Brace for Economic Growth Shock, BofA Survey Shows The S&P 500 climbed about 1% on Monday to its highest level since Feb. 26, and oil pared gains after the president said Iran still wanted to make a deal following a deadlock in peace talks and the US blockade of the Strait of Hormuz, a crucial conduit for...