da-kuk/E+ via Getty Images JPMorgan Asset Management’s chief global strategist David Kelly on Thursday expressed optimism about the U.S. economic outlook, characterizing current oil market disruptions and tariff-related concerns as temporary headwinds that will fade over the coming months. During an interview with CNBC, Kelly acknowledged that the firm has trimmed its GDP growth estimates for the ...
da-kuk/E+ via Getty Images JPMorgan Asset Management’s chief global strategist David Kelly on Thursday expressed optimism about the U.S. economic outlook, characterizing current oil market disruptions and tariff-related concerns as temporary headwinds that will fade over the coming months. During an interview with CNBC, Kelly acknowledged that the firm has trimmed its GDP growth estimates for the second quarter, citing weaker-than-expected tax refunds and the ongoing oil price ( CL1:COM ) ( CO1:COM ) pressures. However, he emphasized the importance of looking past near-term volatility. “There’s no way this is not gonna end with oil coming out of the Persian Gulf,” Kelly said, arguing that the U.S. will ultimately need to reach an agreement with Iran to restore normal energy flows to global markets. On inflation, Kelly projected CPI could reach 3.5% to nearly 4% year-over-year by June before declining sharply. He forecasts inflation dropping to the Federal Reserve's 2% goal by year-end and falling below that mark in 2027, driven by lower oil prices, reduced tariffs and declining shelter costs. Kelly also predicted Congress will pass some form of stimulus, possibly tariff rebate checks, over the summer to support the economy ahead of November elections. Looking further ahead, Kelly suggested the U.S. economy’s long-term growth potential is limited to about 1.5%, with productivity gains from artificial intelligence ( AIEQ ) needed to offset a shrinking working-age population. More on the Markets This Reliable Indicator Signals An Imminent Recession AAII Sentiment Survey: Neutral Sentiment Drops Q1 Was A Wild Ride, Here's What I'm Buying For Q2 SA Analyst says markets continue to await clarity as Middle East risks cloud growth outlook U.S. NATO ambassador says Trump “reevaluating” membership
Weatherford International ( WFRD ) on Thursday said that it plans to redomesticate its parent company from Ireland to the United States, with Texas as its new legal domicile. The move, expected to be completed in the third quarter of 2026 subject to shareholder and regulatory approvals, aims to simplify the company’s corporate structure and reduce administrative and compliance costs. Weatherford s...
Weatherford International ( WFRD ) on Thursday said that it plans to redomesticate its parent company from Ireland to the United States, with Texas as its new legal domicile. The move, expected to be completed in the third quarter of 2026 subject to shareholder and regulatory approvals, aims to simplify the company’s corporate structure and reduce administrative and compliance costs. Weatherford said the shift could also broaden its U.S. investor base and improve access to capital, while enhancing flexibility in managing tax considerations. The company added the redomestication will not affect its global operations or customer commitments. Source: Press Release More on Weatherford International Weatherford: Out Too Early Given The 2026 Macro Weatherford International plc (WFRD) Q4 2025 Earnings Call Transcript Weatherford International plc 2025 Q4 - Results - Earnings Call Presentation Weatherford targets 2026 EBITDA up to $1.12B with margin-focused strategy amid international variability Weatherford International Q4 2025 Earnings Preview
Welcome back to Canada Daily, the newsletter on business, economics and politics from Vancouver to Montreal and beyond. If this was forwarded to you, please sign up here . In the six months since Barrick Mining parted ways with longtime CEO Mark Bristow, it’s done a lot to prepare for an IPO of its premier gold assets. The latest step: tapping Goldman Sachs to lead the transaction, according to pe...
Welcome back to Canada Daily, the newsletter on business, economics and politics from Vancouver to Montreal and beyond. If this was forwarded to you, please sign up here . In the six months since Barrick Mining parted ways with longtime CEO Mark Bristow, it’s done a lot to prepare for an IPO of its premier gold assets. The latest step: tapping Goldman Sachs to lead the transaction, according to people familiar with the matter. Veteran dealmaker Michael Klein, who was involved in Barrick’s 2019 takeover of Randgold Resources, will also advise. The details are being discussed, but the deal could give the new company a valuation of more than $60 billion, Bloomberg Intelligence analyst Grant Sporre wrote late last year. It would be anchored in Barrick’s joint-venture interests in Nevada and a large mine in the Dominican Republic, separating it from operations in riskier jurisdictions, including Mali and Pakistan . Barrick has already chosen the seven-person leadership team for the North American business, which includes existing executives. The IPO work has taken place under new CEO Mark Hill, who was appointed on an interim basis after Bristow’s departure, then made permanent in February. Hill has some work to do to restore investors’ faith. Barrick’s share price has been lifted by bullion’s surge, but since the start of 2024 it has underperformed big-cap gold rivals Newmont and Agnico Eagle. Its market capitalization is $70 billion and arguably should be quite a bit higher — hence the North America spinout. Gold isn’t just driving IPO activity — it’s also shifting Canada’s trade balance. The trade deficit widened in February on increased gold purchases from the US . Also in this newsletter: The industry minister has some thoughts on building electric vehicles . Health Canada restricts Grifols’ blood collection license . And how do you get a tariff refund , anyway? The following was produced with the assistance of Bloomberg Automation. Top stories Ontario Premier Doug ...
Center for International Policy Vice Chair Joe Cirincione discusses President Trump feeling the pressure as oil continues to surge on prolonged war fears, and why Iran should make a deal before it's 'too late.' He talks with Scarlet Fu and Katie Greifeld on "The Close" (Source: Bloomberg)
Center for International Policy Vice Chair Joe Cirincione discusses President Trump feeling the pressure as oil continues to surge on prolonged war fears, and why Iran should make a deal before it's 'too late.' He talks with Scarlet Fu and Katie Greifeld on "The Close" (Source: Bloomberg)
The nearest U.S. crude oil delivery contract traded Thursday at the biggest premium in history over the subsequent month, after President Donald Trump vowed to bomb Iran for weeks . West Texas Intermediate prices for May delivery rose more than 11% to close at $111.54 per barrel, or more than $13 above the June price of $98.04 per barrel. It is the biggest spread between the front month and second...
The nearest U.S. crude oil delivery contract traded Thursday at the biggest premium in history over the subsequent month, after President Donald Trump vowed to bomb Iran for weeks . West Texas Intermediate prices for May delivery rose more than 11% to close at $111.54 per barrel, or more than $13 above the June price of $98.04 per barrel. It is the biggest spread between the front month and second month in history dating back to 1983. U.S. crude oil prices fell 1.24% on Wednesday to close at $100.12 a barrel before Trump's national address on the war. Trump's previous suggestions that war could quickly end have been effective at depressing prices, said Bob McNally, president of Rapidan Energy. @CL.1 YTD mountain WTI year to date The market had the perception that this nightmare can't go on, McNally said. Prices started rising during Trump's speech as it became clear that a quick end to the war was not in sight. "I suspect there's a lot of shorts who were betting on Trump declaring a ceasefire of some sort and they were sort going into the close," McNally said. "The speech was bullish and so now we're seeing some short covering in the May contract on the settle." Also Thursday, the spot price for current physical cargoes of Brent crude oil soared to $141.36, the highest level since the 2008 financial crisis , according to S & P Global, which tracks the data. The spot price reflects the demand for Brent oil that will be delivered in the next 10 to 30 days. The high price for more immediate oil deliveries points to the tightness of physical supply right now due to the huge disruption trigged by the Iran's closure of the Strait of Hormuz .
Ethan Allen Interiors Chairman, President, & CEO Farooq Kathwari discusses the impact tariffs continue to have on US retailers, and how 'cautious' consumers are still looking to buy. he talks with Katie Greifeld and Scarlet Fu on "The Close." (Source: Bloomberg)
Ethan Allen Interiors Chairman, President, & CEO Farooq Kathwari discusses the impact tariffs continue to have on US retailers, and how 'cautious' consumers are still looking to buy. he talks with Katie Greifeld and Scarlet Fu on "The Close." (Source: Bloomberg)
georgeclerk/E+ via Getty Images Franklin FTSE Taiwan ETF ( FLTW ) on the surface looks like a nice way to get broad exposure to a dynamic emerging market. However, its extreme concentration in AI infrastructure with 21.7% in Taiwan Semiconductor Manufacturing Company Limited ( TSM ) alone means it’s heavy on chips, packaging, servers, and power. It’s essentially a semiconductor and artificial inte...
georgeclerk/E+ via Getty Images Franklin FTSE Taiwan ETF ( FLTW ) on the surface looks like a nice way to get broad exposure to a dynamic emerging market. However, its extreme concentration in AI infrastructure with 21.7% in Taiwan Semiconductor Manufacturing Company Limited ( TSM ) alone means it’s heavy on chips, packaging, servers, and power. It’s essentially a semiconductor and artificial intelligence infrastructure bet padded by some financials, which make up 15% as a sector. Investors should therefore know what they’re getting into before committing. Due to an already impressive rally and the cyclical nature of the product, I rate FLTW a Hold. Holdings Concentration Right off the bat we can see that Tech makes up more than 72% of holdings , followed by financials at 15%. Names like MediaTek, Hon Hai Precision Industry Co., Ltd. ( HNHAF ) (better known as Foxconn), Delta Electronics ( DLEGF ), and ASE Technology Holdings Co., Ltd. ( ASX ) are also AI-adjacent, and mostly operate in the hardware supply chain. These companies account for some 21% of holdings which together with Taiwan Semiconductor makes 44.4%. You’re not getting QQQ-like exposure to software and platforms, but are in the tech sleeve purely banking on infrastructure. FLTW tracks the FTSE Taiwan Capped Index, which is market-cap weighted and limits how big the concentration of any one stock or sector can get. However, due to the nature of the market cap methodology and index rules, the fund is naturally geared towards the tech sector. It rebalances every quarter, which means that the top holdings retain their dominance and AI infrastructure is the main focus. Although financials provide some broader exposure and dividends, and small index adjustments can change weights slightly (1-3%), investors must keep in mind that the composition of the ETF is likely to stay structurally geared towards the top holdings. Taiwan Semiconductor is not only the largest holding, but the earnings engine that drives a...
Oil prices remained elevated, however, having soared after a national address late Wednesday from President Donald Trump, where he vowed the U.S. will continue to attack Iran and failed to offer a clear timetable for ending the conflict in the Middle East. The Nasdaq composite rose 38.23 points, or 0.2%, to 21,879.18. The Russell 2000 index of smaller companies rose 17.67 points, or 0.7% to 2,530....
Oil prices remained elevated, however, having soared after a national address late Wednesday from President Donald Trump, where he vowed the U.S. will continue to attack Iran and failed to offer a clear timetable for ending the conflict in the Middle East. The Nasdaq composite rose 38.23 points, or 0.2%, to 21,879.18. The Russell 2000 index of smaller companies rose 17.67 points, or 0.7% to 2,530.04.
Verizon has benefited from a flight to safety and from strong initial reception to new corporate direction. But progress “still needs to be proven over multiple quarters.”
Verizon has benefited from a flight to safety and from strong initial reception to new corporate direction. But progress “still needs to be proven over multiple quarters.”
pictafolio/E+ via Getty Images Applied Optoelectronics ( AAOI ) surged 20% by the end of market trading on Thursday as the fiber-optic networking company inked a sizable deal. It was up another 5% during early post-market trading. The Sugar Land, Texas-based company confirmed today it received a new $71M order for 800G single-mode data center transceivers from one of its major hyperscale customers...
pictafolio/E+ via Getty Images Applied Optoelectronics ( AAOI ) surged 20% by the end of market trading on Thursday as the fiber-optic networking company inked a sizable deal. It was up another 5% during early post-market trading. The Sugar Land, Texas-based company confirmed today it received a new $71M order for 800G single-mode data center transceivers from one of its major hyperscale customers. This customer has now made $124M in orders since mid-March. "This increased order for our 800G transceivers reflects both the customer's confidence in AOI and the growing demand for 800G optics," said Thompson Lin , founder and CEO of Applied Optoelectronics. "Following product qualification, we expect to begin delivering both the initial order—totaling more than $53 million—and this additional order in the second quarter. We anticipate completing delivery of the initial order in the third quarter, with this new order by the end of this year. We also recently shipped the first 10,000 units of an 800G single-mode transceiver order to another hyperscale data center customer." Shares of Applied Optoelectronics have rocketed 200% year-to-date. However, it has been volatile over the past month, with closing prices ranging from $84 to $127 over that time frame. More on Applied Optoelectronics Why I'm Buying Applied Optoelectronics, Despite Its Dark History Applied Optoelectronics: The Future For Light Is Bright I Was Early On Applied Optoelectronics, Here's What's Next Applied Optoelectronics secures $71 million order for 800G transceivers Memory, storage and optical stock declines drag down chip sector
In the latest look at the underlying components of the S&P 500 ordered by largest market capitalization, Ingersoll Rand Inc (Symbol: IR) has taken over the #302 spot from Xylem Inc (Symbol: XYL), according to The Online Investor. Market capitalization is an important dat
In the latest look at the underlying components of the S&P 500 ordered by largest market capitalization, Ingersoll Rand Inc (Symbol: IR) has taken over the #302 spot from Xylem Inc (Symbol: XYL), according to The Online Investor. Market capitalization is an important dat
In the latest look at the underlying components of the S&P 500 ordered by largest market capitalization, Prudential Financial Inc (Symbol: PRU) has taken over the #274 spot from Kimberly-Clark Corp. (Symbol: KMB), according to The Online Investor. Market capitalization i
In the latest look at the underlying components of the S&P 500 ordered by largest market capitalization, Prudential Financial Inc (Symbol: PRU) has taken over the #274 spot from Kimberly-Clark Corp. (Symbol: KMB), according to The Online Investor. Market capitalization i
In the latest look at the underlying components of the S&P 500 ordered by largest market capitalization, HP Inc (Symbol: HPQ) has taken over the #391 spot from PTC Inc (Symbol: PTC), according to The Online Investor. Market capitalization is an important data point for i
In the latest look at the underlying components of the S&P 500 ordered by largest market capitalization, HP Inc (Symbol: HPQ) has taken over the #391 spot from PTC Inc (Symbol: PTC), according to The Online Investor. Market capitalization is an important data point for i
In the latest look at the underlying components of the S&P 500 ordered by largest market capitalization, Arch Capital Group Ltd (Symbol: ACGL) has taken over the #270 spot from Block Inc (Symbol: XYZ), according to The Online Investor. Market capitalization is an importa
In the latest look at the underlying components of the S&P 500 ordered by largest market capitalization, Arch Capital Group Ltd (Symbol: ACGL) has taken over the #270 spot from Block Inc (Symbol: XYZ), according to The Online Investor. Market capitalization is an importa