tomertu/iStock via Getty Images The Schwab US Dividend Equity ETF ( SCHD ) is a cornerstone of my dividend growth portfolio. I'm sure the same is true for a great many dividend investors. This passively managed and ultra-cheap ETF is one of the most well-structured and balanced dividend funds on the market, combining a moderate yield with robust dividend growth. When I last wrote about SCHD (for H...
tomertu/iStock via Getty Images The Schwab US Dividend Equity ETF ( SCHD ) is a cornerstone of my dividend growth portfolio. I'm sure the same is true for a great many dividend investors. This passively managed and ultra-cheap ETF is one of the most well-structured and balanced dividend funds on the market, combining a moderate yield with robust dividend growth. When I last wrote about SCHD (for High Yield Investor) late last year, I argued that " SCHD's Dividend Growth Formula Is Broken (For Now) ." Indeed, 2025 saw the second-lowest year of dividend growth in SCHD's history. The reason for that underperformance and slowed dividend growth pertains to the 2024 and 2025 reconstitutions. In the March 2024 reconstitution, the ETF sold some early AI winners like Broadcom ( AVGO ), which went on to double in price over the next few years. And in the March 2025 reconstitution, SCHD stuffed its portfolio with oil companies, pushing the energy sector exposure to more than 20%. Right after that March 2025 reconstitution, President Trump's "Liberation Day" tariff announcement caused the market to drop and led to the underperformance of the energy and consumer staples sectors (SCHD's two largest sectoral weightings at the time) for the rest of the year. This year, however, the spike in oil prices has been a godsend for SCHD, allowing the ETF to sell appreciated oil companies and reinvest into attractively valued dividend growth stocks in other sectors. Nature is healing. In my view, SCHD is buyable again. Let's dive in to explore why. A Brief History of SCHD Lots of dividend ETFs sport yields over 3%. That's not unusual. And plenty of dividend ETFs have exhibited strong dividend growth in the high single digits over time, although they tend to have low yields in the 1-2% area. What's unique about SCHD is the fact that it offers a dividend yield well north of 3% (currently 3.4%) as well as a robust dividend growth record. Since inception, SCHD's cumulative dividend growth has m...
Andrii Yalanskyi/iStock via Getty Images The healthy latest jobs market report is a relief after the ugly drop in non-farm payrolls seen in February. But there's more complexity to it than is evident on the surface, which comes from a declining labor force participation rate [LFPR]. For now, though, the labor market report supports changed expectations for interest rates, which in turn calls for a...
Andrii Yalanskyi/iStock via Getty Images The healthy latest jobs market report is a relief after the ugly drop in non-farm payrolls seen in February. But there's more complexity to it than is evident on the surface, which comes from a declining labor force participation rate [LFPR]. For now, though, the labor market report supports changed expectations for interest rates, which in turn calls for a re-look at stock investing options. All of this is discussed below. Unemployment drops, payrolls impress... Following the weak labor market report last month, the numbers for March were surprisingly strong. The unemployment rate dropped back to 4.3%, the same level as in January 2026, after inching up to 4.4% in February. This brings the latest number to exactly the average of the past twelve months (the unreleased figure for October 2025 is assumed to be the average of the numbers seen in September and November 2025). Unemployment Rate (Source: Trading Economics) Additions to non-farm payrolls were also most encouraging, as they rose by 178k following a sharp contraction of 92k as per the initial estimates for February. Revisions in non-farm payroll data for the previous two months, however, were a mixed bag. While additions in January were revised upwards by 34k to 160k, the February figures were revised down by 41k to 133k. Still, the latest figure is a significant positive in that, it's 8x higher than the average monthly additions over the past 12 months. Change to Non-farm Payrolls (Source: Trading Economics) ...but glaring rise in labor force dropouts Positive as these developments are, however, they are only a part of the story. The other part relates to the LFPR, which is defined as the proportion of the population that's either employed or seeking employment. The number dropped to 61.9% in March, a level last seen only in November 2021. This is explained by a 396k MoM drop in the civilian labor force in March. If the drop hadn't occurred, the unemployment rate wou...
When a stock goes up more than 10% in a single day, it can feel as if you've missed the opportunity to buy shares at a great price. But more often than not, a stock that goes up on positive earnings results or a fantastic outlook still has plenty of room to keep climbing. Better-than-expected earnings results or outlooks are a sign of a strong company -- the kind of company long-term investors sho...
When a stock goes up more than 10% in a single day, it can feel as if you've missed the opportunity to buy shares at a great price. But more often than not, a stock that goes up on positive earnings results or a fantastic outlook still has plenty of room to keep climbing. Better-than-expected earnings results or outlooks are a sign of a strong company -- the kind of company long-term investors should look to buy. That's why investors should take a closer look at Chewy (NYSE: CHWY) , which provided a very rosy outlook for 2026 alongside its fourth quarter earnings report at the end of March, immediately sending shares 12% higher. Image source: Getty Images. Continue reading
Hong Kong’s MTR Corporation has extended the time needed for its in-town check-in service to 120 minutes from 90 minutes after a signal equipment malfunction disrupted travel on the Airport Express and Tung Chung lines The rail operator said on Sunday at 7.10pm that a signalling fault near a depot at Siu Ho Wan on Lantau Island disrupted MTR train services on both lines and delayed travel times by...
Hong Kong’s MTR Corporation has extended the time needed for its in-town check-in service to 120 minutes from 90 minutes after a signal equipment malfunction disrupted travel on the Airport Express and Tung Chung lines The rail operator said on Sunday at 7.10pm that a signalling fault near a depot at Siu Ho Wan on Lantau Island disrupted MTR train services on both lines and delayed travel times by about eight to 10 minutes. Engineers were working to resolve the issue, it said. The firm said...
Czech Government Caps Fuel Prices And Cuts Diesel Tax To Combat Surging Costs At The Pump By Thomas Brooke of RMX news , The Czech government has moved to cap fuel prices and slash diesel taxes in an effort to curb rising costs due to the ongoing international energy crisis, announcing a system that will see the state set maximum daily prices for fuel across the country. Prime Minister Andrej Babi...
Czech Government Caps Fuel Prices And Cuts Diesel Tax To Combat Surging Costs At The Pump By Thomas Brooke of RMX news , The Czech government has moved to cap fuel prices and slash diesel taxes in an effort to curb rising costs due to the ongoing international energy crisis, announcing a system that will see the state set maximum daily prices for fuel across the country. Prime Minister Andrej Babiš said the intervention follows concerns that fuel retailers were charging excessive margins, despite earlier pressure from the government to bring prices down voluntarily. Under the new system, the Ministry of Finance will determine a maximum fuel price each day, applying to all gas stations nationwide. Officials estimated that diesel, if the cap came into force on Thursday, would currently be capped at 46.43 Czech crowns per liter, or around €1.89. “We monitored the margins and at the beginning of the conflict they were within the norm, but gradually they became excessive,” Babiš said, adding that negotiations with distributors had only partially reduced prices. “We decided to intervene.” The government will also introduce a cap on retailer margins, setting the maximum allowable profit at 2.50 crowns (€0.10) per liter for both petrol and diesel. Alongside the price controls, ministers approved a targeted tax cut on diesel fuel. Excise duty will be reduced by 1.939 crowns per liter, equivalent to 2.35 crowns (€0.10) including VAT, in a move officials say is permitted under EU rules. The Ministry of Finance estimates the measure will cost the state budget around 1 billion crowns (€40.8 million). Finance Minister Alena Schillerová said the combined approach of price caps and tax cuts was designed to immediately lower costs while preventing excessive pricing behavior in the market. “It is calculated as the average of wholesale indices from Čepro, Orlen, and MOL, plus a margin of 2.50 crowns and VAT,” she said, outlining how the daily maximum price will be set. The ministry wi...
WANAN YOSSINGKUM/iStock via Getty Images If you bought MSCI ( MSCI ) after ValueAct Capital took a stake back in 2015, you would have seen a nearly 1000% gain, and for good reason. Since then, MSCI has seen EBITDA margins expand beyond 60%, free cash flow compounding north of $1.4 billion annually, and ROIC improving to above 25%. The intervention brought to light the quality of the MSCI's busines...
WANAN YOSSINGKUM/iStock via Getty Images If you bought MSCI ( MSCI ) after ValueAct Capital took a stake back in 2015, you would have seen a nearly 1000% gain, and for good reason. Since then, MSCI has seen EBITDA margins expand beyond 60%, free cash flow compounding north of $1.4 billion annually, and ROIC improving to above 25%. The intervention brought to light the quality of the MSCI's business. Recently, however, MSCI's stock has struggled. Shares are roughly 16% off their highs reached in February 2026 and have delivered roughly -5% over the past 12 months, while the S&P 500 returned +13%. That 18-point gap is despite strong results for MSCI, as full-year 2025 revenue growth came in above 10% and adjusted EPS grew 13.7% from the prior year. The stock's underperformance can be attributed to a broad sell-off in financial data names. The fear is that AI has the potential to disrupt the durable, compounding nature of business. This fear is understandable, but it is being applied too broadly. I believe MSCI is well positioned to adapt to this more dynamic environment, and the business is more likely to benefit from AI than deteriorate. Therefore, I view the recent pullback as an opportunity to own a quality compounder at a reasonable price. The Index Business is the Core Engine MSCI reports across 4 segments: Index, Analytics, Sustainability and Climate, and Private Assets. The index business is the core engine, representing 57% of total revenues and over 70% of total profits in 2025 . The segment creates benchmarks, like the MSCI World Index and the MSCI USA Quality Index, that are the foundation for products like ETFs. The moat here is wide and built on both switching costs and network effects. Network effects are the ultimate protector from AI disruption. The value of an index like MSCI World comes from the fact that everyone else is already using it, not the technology or math behind it. Even if a peer or AI produces a technically superior methodology, the indu...
You may not realize it, but what's arguably become the most important publicly traded company of our generation was founded 33 years ago today. On April 5, 1993, Nvidia (NASDAQ: NVDA) was cofounded in Sunnyvale, CA, by Jensen Huang (the company's current CEO), Chris Malachowsky, and Curtis Priem. Although Nvidia was best-known for its graphics processing units (GPUs) used in PC gaming for decades,...
You may not realize it, but what's arguably become the most important publicly traded company of our generation was founded 33 years ago today. On April 5, 1993, Nvidia (NASDAQ: NVDA) was cofounded in Sunnyvale, CA, by Jensen Huang (the company's current CEO), Chris Malachowsky, and Curtis Priem. Although Nvidia was best-known for its graphics processing units (GPUs) used in PC gaming for decades, it's the company's artificial intelligence (AI) contributions that have sent its shares up nearly 464,000%, including dividends paid, since its initial public offering in January 1999. Image source: Nvidia. Continue reading
This marvellous staple of the Portuguese kitchen is a rich bean stew with pork and sausages that makes an excellent one-pot feast. You might find it’s perfect for midweek … If you are trying to incorporate more beans and pulses into your diet, as I am, then this robust, one-pot feast, which food writer Edite Vieira describes as “a marvellous standby of the Portuguese kitchen”, is one to bear in mi...
This marvellous staple of the Portuguese kitchen is a rich bean stew with pork and sausages that makes an excellent one-pot feast. You might find it’s perfect for midweek … If you are trying to incorporate more beans and pulses into your diet, as I am, then this robust, one-pot feast, which food writer Edite Vieira describes as “a marvellous standby of the Portuguese kitchen”, is one to bear in mind. Though each region has its own variations, “basically”, she explains, “feijoada is a rich bean stew with pork and sausages”. The Brazilian version, often cited as that country’s national dish, is the product of the West African “love of beans”, according to the Oxford Companion to Food, with some suggesting that it’s a South American creation that travelled to Europe along with returning colonisers. Others insist with equal fervour that the dish was “born in the north of Portugal , and imported and adapted to what was available in Brazil”. Like so many such homely favourites, its precise history will probably ever remain a mystery; what’s important is that it’s simple to prepare, easy to adapt according to taste and budget, and very satisfying. Continue reading...
Scottish designers are showcased alongside a backstage set and props including a Chanel-branded megaphone In 1971, Manolo Blahnik created shoes for the designer Ossie Clark’s catwalk show in London. Relatively new to shoemaking, the Spanish designer forgot to put steel pins in the heels of the shoes, which meant that models wobbled, unbalanced, down the catwalk. Blahnik thought it was the end of h...
Scottish designers are showcased alongside a backstage set and props including a Chanel-branded megaphone In 1971, Manolo Blahnik created shoes for the designer Ossie Clark’s catwalk show in London. Relatively new to shoemaking, the Spanish designer forgot to put steel pins in the heels of the shoes, which meant that models wobbled, unbalanced, down the catwalk. Blahnik thought it was the end of his career. But the press thought it was a deliberate style; the photographer Sir Cecil Beaton even christened it “a new way of walking”. The sandal in question, a green suede heel with ivy leaf embellishments, is just one treasure currently on display at the V&A Dundee’s new exhibition, Catwalk: The Art of the Fashion Show , which helps bring to life more than 100 years of history, charting its journey from the discreet salons of 19th-century London and Paris all the way up to the extravaganza it is today. Continue reading...
China has miniaturised the technology used to make electromagnetic cannons to develop a handheld coil gun, according to state media. The weapon was designed for stealth, non-lethal operations and law enforcement, state broadcaster CCTV reported on Saturday, adding that it could fire between 1,000 and 2,000 projectiles a minute and penetrate wooden boards from dozens of metres away. Its power level...
China has miniaturised the technology used to make electromagnetic cannons to develop a handheld coil gun, according to state media. The weapon was designed for stealth, non-lethal operations and law enforcement, state broadcaster CCTV reported on Saturday, adding that it could fire between 1,000 and 2,000 projectiles a minute and penetrate wooden boards from dozens of metres away. Its power levels can also be altered, meaning that on lower settings there is less chance it will kill someone and...
Monty Rakusen/DigitalVision via Getty Images Overview When I previously covered the Lindsay Corporation ( LNN ), I issued a hold rating due to the limited growth catalyst in a high-interest-rate environment. At the time, I was also cautious about adding shares since the stock traded near the higher end of its historical highs. With uncertainty related to high-interest rates, the closing of the Str...
Monty Rakusen/DigitalVision via Getty Images Overview When I previously covered the Lindsay Corporation ( LNN ), I issued a hold rating due to the limited growth catalyst in a high-interest-rate environment. At the time, I was also cautious about adding shares since the stock traded near the higher end of its historical highs. With uncertainty related to high-interest rates, the closing of the Strait of Hormuz, and a selloff within the indices, LNN's share price has declined by more than ~28%. However, LNN has recently reported its Q2 earnings for the year, so I wanted to reassess the company's overall value proposition and outlook for the year. When looking at LNN's performance over the last twelve months, we can see that the share price has declined by more than 18.3%. Over the same time frame, the State Street S&P 500 ETF ( SPY ) has increased by about 18.2%. This disconnect can be directly attributed to some of the headwinds that LNN is experiencing across its operating segments. While it may be tempting to start accumulating shares now that the price has pulled back from its highs, I believe that there are more challenges for LNN in the near term. Unfortunately, it seems like the best approach for investors is to sit on the sidelines to observe how market dynamics shift. Data by YCharts Interest rates are still an important catalyst for LNN but we now have the threat of rising geopolitical risks and higher interest rates. The latest earnings report reveals that sales volumes have declined across all of LNN's operating segments, which can be attributed to the cyclical nature of the business. Furthermore, the business lacks any clear growth catalysts that may slow the decline in share price. Management is trying to offset the lower volumes through cost cutting measures, but this can only last for so long. So let's start by reviewing LNN's latest earnings report. Q2 Earnings LNN operates as a global manufacturer of different agricultural and infrastructure product...
This is The Stepback , a weekly newsletter breaking down one essential story from the tech world. For more on the ups and downs of AI, follow Stevie Bonifield . The Stepback arrives in our subscribers' inboxes at 8AM ET. Opt in for The Stepback here . How it started Most people probably know Grammarly for its browser extension that suggests how to spruce up your emails, but over the past few years...
This is The Stepback , a weekly newsletter breaking down one essential story from the tech world. For more on the ups and downs of AI, follow Stevie Bonifield . The Stepback arrives in our subscribers' inboxes at 8AM ET. Opt in for The Stepback here . How it started Most people probably know Grammarly for its browser extension that suggests how to spruce up your emails, but over the past few years, it's been eyeing bigger ambitions. In October, the company formerly known as Grammarly made a public pivot to rebrand as an AI company called Superhuman . The new name was adopted from Superhuman Mail, an AI email platform that Grammarly acquired i … Read the full story at The Verge.
Chinese bonds may be reaching a historical turning point, with yields set to climb from record low levels as deflationary pressures ease and expectations for monetary loosening recede. The benchmark 10-year yield has the potential to finally break out of its recent narrow trading range and rise toward 2% or even higher this year from around 1.8% now, some analysts say. Meanwhile, the yield spread ...
Chinese bonds may be reaching a historical turning point, with yields set to climb from record low levels as deflationary pressures ease and expectations for monetary loosening recede. The benchmark 10-year yield has the potential to finally break out of its recent narrow trading range and rise toward 2% or even higher this year from around 1.8% now, some analysts say. Meanwhile, the yield spread between five-year and 30-year notes, a measure of inflation expectations and supply pressure, has reached its widest in about four years and the gap may increase. Sentiment in the largest emerging debt market has shifted after a slew of upbeat data, from a surprise growth rebound to slower factory-gate price declines, cast fresh doubts on a deflation-driven narrative that has dominated trading in recent years. As nations around the world adjust to the new reality of elevated oil prices caused by the war in Iran, some analysts even suggest the rise in Chinese yields may have repercussions across emerging bond markets. “The deflation trade has reached an inflection point,” said Lynn Song , chief economist for Greater China at ING Bank. “It is not a normal situation for an economy expected to grow around 4% for the next decade to have 10-year yields under 2%.” Some local brokerages are even more aggressive in calling for sharper gains in yields. Kaiyuan Securities Co., for one, sees the benchmark yield returning to a range of 2%-3% later this year as inflation gains momentum. Signs of repricing intensified last month, when the inflation-sensitive 30-year yield briefly hit the highest since September 2024, after data showed a consumer price uptick and moderating factory deflation, as well as an expanding export boom and stronger retail sales. China’s interest-rate swap market is also flashing signals of reduced expectations for further policy easing by the People’s Bank of China. The brighter outlook for the world’s No. 2 economy has prompted global banks including Goldman Sach...
jiefeng jiang/iStock via Getty Images By far, the most convincing argument in favor of a bullish outlook toward Intel Corporation ( INTC ) is that management has finally regained its execution discipline amid increasing structural demand for Intel chips amid the rise of AI applications and the opportunity of foundry optionality. Provided that 18A is successfully scaled up and external customers st...
jiefeng jiang/iStock via Getty Images By far, the most convincing argument in favor of a bullish outlook toward Intel Corporation ( INTC ) is that management has finally regained its execution discipline amid increasing structural demand for Intel chips amid the rise of AI applications and the opportunity of foundry optionality. Provided that 18A is successfully scaled up and external customers start converting orders, Intel will become not just a recovering semiconductor vendor but a strategic Western manufacturing platform with superior operating leverage and a profitability growth profile relative to the current consensus estimate. Intel’s Problem Was Chaos; Now It’s Discipline, Not Hype There will always be the risk of overcompensation with Intel. Thus, every new step taken by the company and every news item announced made it clear that the company had lost control over itself. With milestones finally being hit, the market is quick to claim that Intel is on the verge of a turnaround. While I do not subscribe to the former view, nor do I share the latter opinion. The changes that have occurred in operations within the company are very real and, in some ways, unexpected. To my mind, the best evidence of the transformation process is that management is operating with an iron fist. In other words, Lip-Bu Tan is bringing Intel back to its financial essence after years of expansion in all directions. From reducing the workforce to slashing costs, from restraining the creation of more fab capacity to linking the 14A investments to client demands, Intel is doing what needs to be done. Yes, it may appear to be mundane, but Intel desperately required such a shift in focus. On a separate note, the x86 business looks far healthier than the market believes. The client segment is not very exciting these days. However, it is still very monetizable. The Data Center segment is more interesting. According to management, demand for CPUs in terms of conventional server computing ou...
jiefeng jiang/iStock via Getty Images By far, the most convincing argument in favor of a bullish outlook toward Intel Corporation ( INTC ) is that management has finally regained its execution discipline amid increasing structural demand for Intel chips amid the rise of AI applications and the opportunity of foundry optionality. Provided that 18A is successfully scaled up and external customers st...
jiefeng jiang/iStock via Getty Images By far, the most convincing argument in favor of a bullish outlook toward Intel Corporation ( INTC ) is that management has finally regained its execution discipline amid increasing structural demand for Intel chips amid the rise of AI applications and the opportunity of foundry optionality. Provided that 18A is successfully scaled up and external customers start converting orders, Intel will become not just a recovering semiconductor vendor but a strategic Western manufacturing platform with superior operating leverage and a profitability growth profile relative to the current consensus estimate. Intel’s Problem Was Chaos; Now It’s Discipline, Not Hype There will always be the risk of overcompensation with Intel. Thus, every new step taken by the company and every news item announced made it clear that the company had lost control over itself. With milestones finally being hit, the market is quick to claim that Intel is on the verge of a turnaround. While I do not subscribe to the former view, nor do I share the latter opinion. The changes that have occurred in operations within the company are very real and, in some ways, unexpected. To my mind, the best evidence of the transformation process is that management is operating with an iron fist. In other words, Lip-Bu Tan is bringing Intel back to its financial essence after years of expansion in all directions. From reducing the workforce to slashing costs, from restraining the creation of more fab capacity to linking the 14A investments to client demands, Intel is doing what needs to be done. Yes, it may appear to be mundane, but Intel desperately required such a shift in focus. On a separate note, the x86 business looks far healthier than the market believes. The client segment is not very exciting these days. However, it is still very monetizable. The Data Center segment is more interesting. According to management, demand for CPUs in terms of conventional server computing ou...