Business inventories decreased 0.1% M/M to $2,675.0B in January, compared with the 0.0% consensus and 0.0% in December (revised from +0.1%), according to data released by the U.S. Census Bureau on Wednesday. That's still up 1.0% from a year earlier. The combined value of distributive trade sales and manufacturers’ shipments for January was estimated at $1,974.6B, up 0.3% from December 2025 and 4.5...
Business inventories decreased 0.1% M/M to $2,675.0B in January, compared with the 0.0% consensus and 0.0% in December (revised from +0.1%), according to data released by the U.S. Census Bureau on Wednesday. That's still up 1.0% from a year earlier. The combined value of distributive trade sales and manufacturers’ shipments for January was estimated at $1,974.6B, up 0.3% from December 2025 and 4.5% from January 2025. The total business inventories/sales ratio based on seasonally adjusted data at the end of January was 1.35, down from 1.40 a year before, the Census Bureau said . More on the U.S. Economy Hope Boosts Risk Appetites And Drags The Greenback Lower U.S. Dollar Index Outlook - USD Double Top As Markets Slowly Price End Of War S&P 500 Earning Estimates Are Surprisingly Rising And $100 WTIC Oil Is Not Expensive Countdown to Trump’s address to the nation: What will he say? Foreign central bank holdings of Treasuries at the NY Fed at the lowest level since 2012
Nigeria is set to increase the number of crude cargoes allocated to the Dangote Refinery in a bid to boost domestic supply of refined products as the Iran war chokes traditional global energy routes. The move is part of measures taken by Nigerian government to mitigate supply shocks and improve product availability, according to two officials of the state-owned Nigerian National Petroleum Company ...
Nigeria is set to increase the number of crude cargoes allocated to the Dangote Refinery in a bid to boost domestic supply of refined products as the Iran war chokes traditional global energy routes. The move is part of measures taken by Nigerian government to mitigate supply shocks and improve product availability, according to two officials of the state-owned Nigerian National Petroleum Company Plc, who did want to be named because they are not authorized to speak publicly. Higher crude supply to the refinery is expected to translate into increased output of refined products, they said. The 650,000 barrels-per-day Dangote Refinery, located on the outskirts of Lagos, Nigeria’s commercial hub, supplied 64% of the nation’s gasoline consumption in February, according data supplied by the country’s downstream regulator. At full capacity, the refinery can meet all of the nation’s domestic fuel supply needs and still have about a quarter of its products available for exports. In the wake of the Iran war, several countries on the continent and outside have approached the Dangote Refinery to secure supplies of refined products. The refinery, owned by Africa’s richest person, has been in negotiations with the Nigerian government, which is also the biggest producer of oil on the continent, to get more of its crude supplies from domestic sources in order to boost supply. Total crude deliveries to plant were 15.4 million bbl for March compared with 16.04 million bbl for February, with Nigeria accounting for 53% of the March supplies, the weakest since September, tanker-tracking data compiled by Bloomberg showed. The refinery needs about 19.77 million barrels of crude monthly, according to a senior executive at the firm. Spokespeople for Dangote Refinery and NNPC did not immediately respond to requests for comment. Reuters had previously reported that a refinery official confirmed the increase in expected cargoes to the plant. The Dangote refinery, which started operations in J...
American manufacturers grew in March at the fastest pace in two and a half years, by one measure, but the conflict with Iran added a new level of uncertainty just as the effects of the Trump tariffs were fading.
American manufacturers grew in March at the fastest pace in two and a half years, by one measure, but the conflict with Iran added a new level of uncertainty just as the effects of the Trump tariffs were fading.
jetcityimage/iStock Editorial via Getty Images Shares of UnitedHealth Group ( UNH ) gained in the morning hours on Wednesday after Raymond James upgraded the managed care giant, citing a potential earnings upside to the company’s earnings estimates over the coming years. Analyst John Ransom upgraded the stock to Outperform from Market Perform and set a new $330 per share target, projecting UNH’s E...
jetcityimage/iStock Editorial via Getty Images Shares of UnitedHealth Group ( UNH ) gained in the morning hours on Wednesday after Raymond James upgraded the managed care giant, citing a potential earnings upside to the company’s earnings estimates over the coming years. Analyst John Ransom upgraded the stock to Outperform from Market Perform and set a new $330 per share target, projecting UNH’s EPS estimates for 2027 and 2028 to exceed consensus by 7.5% and 8%, respectively. Ransom projected a “modest” 20 basis point improvement to the company’s general and administrative expenses for 2027 and 2028, thanks to potential AI initiatives and margin improvement in the company’s health services arm, Optum Health. Additionally, Raymond James pointed out that Minnesota-based UnitedHealth ( UNH ) trades at 12.7x and 10.6x in terms of its 2027 and 2028 non-GAAP EPS estimates, in line with historical multiples of peers but with a sharp discount to the company’s own historical multiple of 20x. “We see the potential upside to earnings estimates over the next few years from 1) announced and potential AI initiatives to lower G&A/revenue and 2) margin improvement in Optum Health from better risk margins, lower G&A, and higher FFS margins,” Ransom added. More on UnitedHealth AGI Bust, AI Boom: Why AI's Winners And Losers Aren't Who You Think UnitedHealth Group: Fears Remain Overblown In A Panicky Market UnitedHealth, Hims & Hers, Gambling.Com - Value Investing With Raul Shah SA Asks: What happens if the Medicare Hospital Insurance fund runs dry? Medicare Advantage payments in focus as regulator says insurers yet to rein in costs
"Resilient" US Manufacturing Sector Surges In Face Of War, Prices Paid Up Amid the fog of war and fading 'hard' data, the final March S&P Global Manufacturing PMI printed 52.3 (a small drop from the flash 52.4 print), higher than the 51.8 print for February. “Faster growth of output in March points to encouraging resilience for US manufacturing in the face of the outbreak of war in the Middle East...
"Resilient" US Manufacturing Sector Surges In Face Of War, Prices Paid Up Amid the fog of war and fading 'hard' data, the final March S&P Global Manufacturing PMI printed 52.3 (a small drop from the flash 52.4 print), higher than the 51.8 print for February. “Faster growth of output in March points to encouraging resilience for US manufacturing in the face of the outbreak of war in the Middle East," according to Chris Williamson, Chief Business Economist at S&P Global Market Intelligence. The ISM Manufacturing PMI also rose from 52.4 to 52.7 - the highest since August 2022... Source: Bloomberg Under the hood, Prices Paid continued to rise dramatically while New Orders and Employment dipped... Business confidence regarding output in the year ahead has also so far held up well, if one follows the S&P Global report. "This sustained resilience in part reflects reduced concerns over government policies such as tariffs, but also indicates that producers anticipate only a short-term and modest impact from the war, which is clearly uncertain. It remains early days in terms of the impact of the conflict, and a sharp rise in prices and delivery delays has cast a cloud over the outlook , threatening to drive inflation higher, dampen demand and throttle supply chains, warns S&P Global's Williamson. Factory input costs have already jumped higher on the back of surging oil prices and supplier delays have become more widespread than at any time since October 2022, linked to the war exacerbating existing shipping, haulage and port delays. “ Some manufacturers are hence reporting stock building as a precaution against future price rises or supply shortages , and hiring has almost stalled in order to reduce staffing costs, underscoring the growing concern about how the war might cause problems for factories in the coming weeks." Obviously, if price pressures and supply delays persist, demand, employment and production capabilities will inevitably start to be more seriously affected. ...
Colombia will raise domestic gasoline prices this month as higher oil costs strain an already widening budget deficit. Fuel prices in major cities will increase by an average 375 pesos ($0.10), while diesel will rise by about 81 pesos, the energy and gas regulator known as CREG said. The move follows temporary cuts in February and March aimed at easing inflation after a record minimum wage increas...
Colombia will raise domestic gasoline prices this month as higher oil costs strain an already widening budget deficit. Fuel prices in major cities will increase by an average 375 pesos ($0.10), while diesel will rise by about 81 pesos, the energy and gas regulator known as CREG said. The move follows temporary cuts in February and March aimed at easing inflation after a record minimum wage increase took effect at the start of the year. The government is now reversing course as global oil prices climb, increasing the cost of fuel subsidies. Energy Minister Edwin Palma said in a March 30 post on X that the government is again taking on costly subsidies and will need to raise prices in a gradual manner. Countries across Latin America, from Panama to Chile, are also scaling back fuel subsidies as fiscal pressures mount. Chile recently announced an increase of more than 50% in a single adjustment, triggering panic buying at gasoline stations. Read more: Oil Surge Elicits Tough Love From Trump’s Latin American Allies When President Gustavo Petro took office in 2022, his administration began gradually raising gasoline prices to align them with international levels. Diesel prices, however, have remained largely unchanged due to opposition from truckers, whose protests can disrupt key highways. In parallel, Colombia is preparing changes to diesel pricing . A draft decree published by the energy ministry in late March proposes eliminating subsidies for vehicles not used in essential public transportation of freight or passengers.
Fosun recorded 22.9 billion yuan in noncash losses, including 15.4 billion yuan in asset impairments, 6.2 billion yuan in fair value losses on investment properties and 1.2 billion yuan in financial asset valuation losses. Chinese conglomerate Fosun International Ltd. reported a net loss of 23.4 billion yuan ($3.4 billion) for 2025, driven by sweeping one-off impairments on real estate and non-cor...
Fosun recorded 22.9 billion yuan in noncash losses, including 15.4 billion yuan in asset impairments, 6.2 billion yuan in fair value losses on investment properties and 1.2 billion yuan in financial asset valuation losses. Chinese conglomerate Fosun International Ltd. reported a net loss of 23.4 billion yuan ($3.4 billion) for 2025, driven by sweeping one-off impairments on real estate and non-core assets. The company disclosed its results on Monday, with revenue of 173.4 billion yuan, down 9.74% year on year. Net loss attributable to shareholders widened by 19 billion yuan from a year earlier.
Soybeans are falling back to start April, as contracts are down 6 to 9 cents so far on Wednesday morning. Futures posted 5 to 13 ½ cent gains across most contracts on Tuesday, led by the new crop months. Open interest rose 9,917 contracts on Wednesday. The cmdtyView national average...
Soybeans are falling back to start April, as contracts are down 6 to 9 cents so far on Wednesday morning. Futures posted 5 to 13 ½ cent gains across most contracts on Tuesday, led by the new crop months. Open interest rose 9,917 contracts on Wednesday. The cmdtyView national average...
Corn price action is down 4 to 5 cents so far on Wednesday morning. Futures closed the Tuesday session with contracts steady to 2 ¼ cents higher following some friendlier old crop numbers from USDA. Open interest was down 3,005 contracts in May, but up 9,593 contracts across the rest,...
Corn price action is down 4 to 5 cents so far on Wednesday morning. Futures closed the Tuesday session with contracts steady to 2 ¼ cents higher following some friendlier old crop numbers from USDA. Open interest was down 3,005 contracts in May, but up 9,593 contracts across the rest,...
Disney is trading at a discount, so it's a good time for investors to scoop up shares, according to Raymond James. The investment firm upgraded the media giant to outperform from market perform. It also set a $115 price target, implying 19% upside from Tuesday's close. That price target implies a forward multiple of around 14, "meaningful discount to the 10-year median given macro fears and Parks ...
Disney is trading at a discount, so it's a good time for investors to scoop up shares, according to Raymond James. The investment firm upgraded the media giant to outperform from market perform. It also set a $115 price target, implying 19% upside from Tuesday's close. That price target implies a forward multiple of around 14, "meaningful discount to the 10-year median given macro fears and Parks visitation headwinds." "We see the current macro backdrop and international visitation headwinds as an opportunity to invest at a very attractive valuation," analyst Ric Prentiss said in a note to clients. Disney shares have fallen 15% this year, pressured by expectations that attendance at the company's theme parks could slump this year. The company is dealing with declining international visitors to its domestic parks. At the same time, Disney faces increased competition from Universal Studios, which opened its Epic Universe property to the public last spring. However, Disney stands to benefit from several tailwinds that could offset some of those headwinds, according to Raymond James. Those include the launch of two new cruise ships and a Frozen-themed expansion at Disneyland Paris. "We have stress-tested our model … examining not only our base case, but several bear cases with varying levels of severity, and believe the stock remains historically cheap even in some of the more draconian scenarios," Prentiss wrote. Disney is also poised to gain ground on easier content and linear comparables, in addition to more favorable sports rights costs on the TV and streaming sides, the analyst noted. Disney's streaming business represents the majority of the growth in the company's operating income between fiscal year 2025 and estimated fiscal year 2028, based on a combination of data from the company and analysts' forecasts, per Raymond James. That means headwinds affecting Disney parks may impact the firm's bottom line less than some investors have anticipated, according to Pren...
Murphy Oil ( MUR ) declares $0.35/share quarterly dividend , in line with previous. Forward yield 3.45% Payable June 1; for shareholders of record May 18; ex-div May 18. See MUR Dividend Scorecard, Yield Chart, & Dividend Growth. More on Murphy Oil Murphy Oil: Accurate Risk Assessment Results In A Field Discovery And A Very Profitable Contract Murphy Oil Corporation (MUR) Discusses Production Shar...
Murphy Oil ( MUR ) declares $0.35/share quarterly dividend , in line with previous. Forward yield 3.45% Payable June 1; for shareholders of record May 18; ex-div May 18. See MUR Dividend Scorecard, Yield Chart, & Dividend Growth. More on Murphy Oil Murphy Oil: Accurate Risk Assessment Results In A Field Discovery And A Very Profitable Contract Murphy Oil Corporation (MUR) Discusses Production Sharing Contract Fundamentals and Their Role in Offshore Vietnam Strategy - Slideshow Murphy Oil Corporation (MUR) Discusses Production Sharing Contract Fundamentals and Their Role in Offshore Vietnam Strategy Transcript Murphy Oil raised to Buy at Piper Sandler, highlighting long-term Vietnam resource potential Murphy Oil comes up dry in second exploratory well off Ivory Coast
Tesla is slated to report first-quarter delivery figures on Thursday. Wall Street is expecting about 366,000 vehicles sold in the first quarter, up from 337,000 a year ago. Wall Street was looking for about 378,000 vehicles.
Tesla is slated to report first-quarter delivery figures on Thursday. Wall Street is expecting about 366,000 vehicles sold in the first quarter, up from 337,000 a year ago. Wall Street was looking for about 378,000 vehicles.
MoMo Productions The U.S. ISM Manufacturing PMI expanded to 52.7 in March, vs. 52.3 consensus and 52.4 prior, according to data released by the Institute for Supply Management on Monday. " The overall economy continued in expansion for the 17th month in a row. The New Orders Index expanded for the third straight month after four straight readings in contraction," said Susan Spence , chair of the I...
MoMo Productions The U.S. ISM Manufacturing PMI expanded to 52.7 in March, vs. 52.3 consensus and 52.4 prior, according to data released by the Institute for Supply Management on Monday. " The overall economy continued in expansion for the 17th month in a row. The New Orders Index expanded for the third straight month after four straight readings in contraction," said Susan Spence , chair of the Institute for Supply Management Manufacturing Business Survey Committee. Here is a look at manufacturing at a glance: Manufacturing prices: 78.3 vs. 70.5 in February. Employment: 48.7 vs. 48.8 prior. New orders: 53.5 vs. 55.8 prior. Supplier deliveries: 58.9 vs. 55.1 prior. " This month also marks the first report with panelists citing the Iran war as a new impact to their business, along with ongoing uncertainty with U.S. economic policy, despite the recent Supreme Court ruling striking down International Emergency Economic Powers Act (IEEPA) tariffs," noted Spence. " In March, 64 percent of comments overall were negative. Among the negative comments, about 20 percent cited tariffs and about 40 percent the war in the Middle East," added Spence. "Of the six largest manufacturing industries, four (Transportation Equipment; Computer & Electronic Products; Machinery; and Chemical Products) expanded in March," noted Spence. More on Manufacturing PMI Manufacturing index for March rises marginally less than initially estimated Chicago PMI falls more than expected in March U.S. PMI Composite edges down in March, manufacturing PMI rises
MicroStockHub/iStock via Getty Images Thesis Summary Microsoft Corporation ( MSFT ) is down a whopping 25% YTD and has even broken below its 200-week EMA. I believe the stock is now a value investor's dream. Indeed, this now squarely fits into the criteria once laid out by legendary investor Charlie Munger. If all you ever did was buy high-quality stocks on the 200-week moving average, you would b...
MicroStockHub/iStock via Getty Images Thesis Summary Microsoft Corporation ( MSFT ) is down a whopping 25% YTD and has even broken below its 200-week EMA. I believe the stock is now a value investor's dream. Indeed, this now squarely fits into the criteria once laid out by legendary investor Charlie Munger. If all you ever did was buy high-quality stocks on the 200-week moving average, you would beat the S&P 500 by a large margin over time. Source: Charlie Munger . The only point of contention here would be whether Microsoft is still a quality company in the face of the AI threat. I explain below why Microsoft remains one of the best companies to own worldwide, making this an incredible buying opportunity. Microsoft Broke The 200-Week MA Microsoft has now broken below the infamous 200-week EMA. MSFT Chart (TrendSpider) Even in the depths of the 2022 bear market, this level was respected, and yet here we are today. While many would argue this is a bearish sign, and indeed, technical momentum is to the downside, the 200-week EMA should be seen as a reference point, not a make-or-break level. Proof of this, for example, can be found below. Historic Breaks of 200 day MA (X) This study looks at the performance of the S&P 500 ( SP500 ) after a break of the 200-day EMA, showing 1-year returns are actually well above the normal average. Yes, the break of the 200-week EMA in MSFT isn’t bullish, but note that we also have strong volume support below at $320. Ultimately, the question now is whether MSFT is a quality company now trading at a good price. Is Microsoft Still A High Quality Stock? What is quality when it comes to a business? Obviously, growth and profitability are the first places to look, but more important are perhaps things like market dominance, moat, and pricing power. Let’s break down Microsoft below. Growth With Compounding Structure Microsoft's revenue crossed $300 billion in 2025, growing at approximately 15% year-over-year. Revenue History (companiesmarke...
MicroStockHub/iStock via Getty Images Thesis Summary Microsoft Corporation ( MSFT ) is down a whopping 25% YTD and has even broken below its 200-week EMA. I believe the stock is now a value investor's dream. Indeed, this now squarely fits into the criteria once laid out by legendary investor Charlie Munger. If all you ever did was buy high-quality stocks on the 200-week moving average, you would b...
MicroStockHub/iStock via Getty Images Thesis Summary Microsoft Corporation ( MSFT ) is down a whopping 25% YTD and has even broken below its 200-week EMA. I believe the stock is now a value investor's dream. Indeed, this now squarely fits into the criteria once laid out by legendary investor Charlie Munger. If all you ever did was buy high-quality stocks on the 200-week moving average, you would beat the S&P 500 by a large margin over time. Source: Charlie Munger . The only point of contention here would be whether Microsoft is still a quality company in the face of the AI threat. I explain below why Microsoft remains one of the best companies to own worldwide, making this an incredible buying opportunity. Microsoft Broke The 200-Week MA Microsoft has now broken below the infamous 200-week EMA. MSFT Chart (TrendSpider) Even in the depths of the 2022 bear market, this level was respected, and yet here we are today. While many would argue this is a bearish sign, and indeed, technical momentum is to the downside, the 200-week EMA should be seen as a reference point, not a make-or-break level. Proof of this, for example, can be found below. Historic Breaks of 200 day MA (X) This study looks at the performance of the S&P 500 ( SP500 ) after a break of the 200-day EMA, showing 1-year returns are actually well above the normal average. Yes, the break of the 200-week EMA in MSFT isn’t bullish, but note that we also have strong volume support below at $320. Ultimately, the question now is whether MSFT is a quality company now trading at a good price. Is Microsoft Still A High Quality Stock? What is quality when it comes to a business? Obviously, growth and profitability are the first places to look, but more important are perhaps things like market dominance, moat, and pricing power. Let’s break down Microsoft below. Growth With Compounding Structure Microsoft's revenue crossed $300 billion in 2025, growing at approximately 15% year-over-year. Revenue History (companiesmarke...
LTC Properties ( LTC ) declares $0.19/share monthly dividend , in line with previous. Forward yield 6.13% Payable April 30; for shareholders of record April 22; ex-div April 22. Payable May 29; for shareholders of record May 21; ex-div May 21. Payable June 30; for shareholders of record June 22; ex-div June 22. See LTC Dividend Scorecard, Yield Chart, & Dividend Growth. More on LTC Properties LTC ...
LTC Properties ( LTC ) declares $0.19/share monthly dividend , in line with previous. Forward yield 6.13% Payable April 30; for shareholders of record April 22; ex-div April 22. Payable May 29; for shareholders of record May 21; ex-div May 21. Payable June 30; for shareholders of record June 22; ex-div June 22. See LTC Dividend Scorecard, Yield Chart, & Dividend Growth. More on LTC Properties LTC Properties: Fairly Valued After Rally Given The SHOP Transition Risks LTC Properties, Inc. (LTC) Q4 2025 Earnings Call Transcript LTC Properties: Growth Plan Comes With Risks LTC Properties targets $600M SHOP acquisitions for 2026 with 14% NOI growth guidance LTC Properties trades lower after Q1 2026 earnings guidance trails consensus
Justices weigh constitutionality of bid to end birthright citizenship in case that could affect legal status of hundreds of thousands of US babies US supreme court weighs whether Trump can deny birthright citizenship Sign up for the Breaking News US email We’re starting to get pictures from outside the US supreme court ahead of oral arguments in Trump v Barbara, which will decide if the administra...
Justices weigh constitutionality of bid to end birthright citizenship in case that could affect legal status of hundreds of thousands of US babies US supreme court weighs whether Trump can deny birthright citizenship Sign up for the Breaking News US email We’re starting to get pictures from outside the US supreme court ahead of oral arguments in Trump v Barbara, which will decide if the administration’s attempts to restrict birthright citizenship are unconstitutional. Donald Trump has just arrived, and plans to listen to arguments at the court – the first time a sitting president has attended arguments. Continue reading...