Building a utility-scale quantum computer that can crack one of the most vital cryptosystems—elliptic curves—doesn’t require nearly the resources anticipated just a year or two ago, two independently written whitepapers have concluded. In one, researchers demonstrated the use of neutral atoms as reconfigurable qubits that have free access to each other. They went on to show this approach could all...
Building a utility-scale quantum computer that can crack one of the most vital cryptosystems—elliptic curves—doesn’t require nearly the resources anticipated just a year or two ago, two independently written whitepapers have concluded. In one, researchers demonstrated the use of neutral atoms as reconfigurable qubits that have free access to each other. They went on to show this approach could allow a quantum computer to break 256-bit elliptic curve cryptography (ECC) in 10 days while using 100 times less overhead than previously estimated. In a second paper, Google researchers demonstrated how to break ECC-securing blockchains for Bitcoin and other cryptocurrencies in less than 9 minutes while achieving a 20-fold resource reduction. Taken together, the papers are the latest sign that cryptographically relevant quantum computing (CRQC) at utility-scale is making meaningful progress. The advances are largely being driven by new quantum architectures developed by physicists and computer scientists in a push to create quantum computers that operate correctly even in the presence of errors that occur whenever qubits—the quantum analog to classical computing bits—interact with their environment. The other key drivers are ever-more efficient algorithms to supercharge Shor’s algorithm, the 1994 series of equations proving that quantum computing could break the ECC and RSA cryptosystems in polynomial time, specifically cubic time , far faster than the exponential time provided by today’s classical computers. Neither paper has been peer-reviewed. Read full article Comments
If it seems like the stock market has seen more volatility recently, you are not imagining things. The CBOE Volatility Index (VOLATILITYINDICES: ^VIX) , or VIX for short , has spiked to above 30 a few times in the past month. The index is widely referred to as a fear gauge, or the fear index, and it measures investor sentiment. The VIX, which was created in 1993, is actually based on option prices...
If it seems like the stock market has seen more volatility recently, you are not imagining things. The CBOE Volatility Index (VOLATILITYINDICES: ^VIX) , or VIX for short , has spiked to above 30 a few times in the past month. The index is widely referred to as a fear gauge, or the fear index, and it measures investor sentiment. The VIX, which was created in 1993, is actually based on option prices. The index looks at a swath of S&P 500 (SNPINDEX: ^GSPC) calls and puts with expirations 30 days out and measures the implied volatility built into those options. A reading of 30 on the VIX typically signals that investors are becoming anxious. Image source: Getty Images. Continue reading
Sean Pavone Policymakers face trade-offs in pursuing the Federal Reserve's dual mandate with many cross-currents in the economy, some of which are pushing employment and inflation in different directions, according to Kansas City Federal Reserve Bank President Jeffrey Schmid. Schmid was speaking on the monetary policy and the economic outlook at the Rotary Club of Oklahoma City. "I viewed high inf...
Sean Pavone Policymakers face trade-offs in pursuing the Federal Reserve's dual mandate with many cross-currents in the economy, some of which are pushing employment and inflation in different directions, according to Kansas City Federal Reserve Bank President Jeffrey Schmid. Schmid was speaking on the monetary policy and the economic outlook at the Rotary Club of Oklahoma City. "I viewed high inflation as the more salient risk to our dual mandate, even before the energy shock arrived," Schmid said. "The latest price data for February indicates that inflation was near 3% before energy prices jumped. Inflation has run above the FOMC's 2% target for 5 years. More concerning is that progress towards that target appears to have stalled with inflation running near 3% for several years now," he noted. As part of his speech, Schmid listed the economic tailwinds and headwinds. "I see a number of fundamental strengths in the U.S. economy, including solid demand, s trong productivity gains, and relatively low unemployment," he said. For the headwinds, he pointed to zero growth in the working-age population—"something that has never happened outside of a war or pandemic". The slowdown in workforce growth was driven by a reduction in immigration, together with a growing number of baby boomers aging into retirement. "T he aging population is currently providing a boost to demand growth through increased healthcare consumption," said the KC Fed president. However, over the medium- and longer-term, the slower growth is likely to lower the speed of the economic growth. Schmid sees the recent rise in energy prices as the second and more immediate headwind to the economy. "Even as a net energy exporter, the U.S. is not insulated from disruptions abroad since oil is priced in a global market," he noted. Developing... Check back for updates. More on U.S. Economy Bond market may be shifting to growth fear from inflation fear Subprime borrowers are having trouble paying loans, widening t...
J Studios/DigitalVision via Getty Images Vertiv ( VRT ) up 5.6% in Tuesday's trading after the company unveiled plans for a $50M expansion of its Ohio manufacturing to boost production of critical thermal management technologies for AI data centers. However, Jefferies downgraded the provider of infrastructure and services for data centers and other environments to Hold from Buy with a $260 price t...
J Studios/DigitalVision via Getty Images Vertiv ( VRT ) up 5.6% in Tuesday's trading after the company unveiled plans for a $50M expansion of its Ohio manufacturing to boost production of critical thermal management technologies for AI data centers. However, Jefferies downgraded the provider of infrastructure and services for data centers and other environments to Hold from Buy with a $260 price target, trimmed from $280, citing concerns that the AI investment cycle may enter a period of slower capital spending growth. Jefferies analysts Alex Dwyer and Jamie Simonson said they view Vertiv ( VRT ) as a top play on the AI capex cycle, and the acceleration in orders underscores its strengthened competitive position, and management is now materially expanding capacity to meet this demand. But with already record valuation, the analysts see out-year organic growth and margin expectations as setting a high bar and prefer to wait for a better entry point. More on Vertiv Vertiv Presents at JPMorgan Industrials Conference 2026 Transcript Vertiv: Remains A Fantastic Pick-And-Shovel AI Play Vertiv: An Upcoming S&P 500 Member, Shares Near Fair Value (Downgrade)
Luis Alvarez/DigitalVision via Getty Images Shares of Flex Ltd. ( FLEX ) saw a big 6% pullback in response to what essentially is just a bolt-on deal for the business, albeit that the news coincided with a weak day for markets at large. The recent deal fits the strategic rationale, that of becoming a higher-growth and higher-margin business, and thus it comes at a relatively expensive price. With ...
Luis Alvarez/DigitalVision via Getty Images Shares of Flex Ltd. ( FLEX ) saw a big 6% pullback in response to what essentially is just a bolt-on deal for the business, albeit that the news coincided with a weak day for markets at large. The recent deal fits the strategic rationale, that of becoming a higher-growth and higher-margin business, and thus it comes at a relatively expensive price. With shares falling by more than the acquisition price, it appears that the move in isolation is an overreaction, but this follows shares stretching their legs in recent years. Hence, the near-term pullback looks interesting, but eventually, quite some achievements are priced in. Trading around 20 times realistic earnings here, with still a large cyclical element tied to the shares, I am erring on the side of caution, finding it too early to buy the dip just yet. Other, higher conviction ideas, including recent M&A efforts, can be found at Value In Corporate Events . Adding Electrical Power Products Flex has reached an agreement to acquire Electrical Power Products, a provider of engineered-to-order electrical power control and protection systems. The deal, valued at $1.1 billion, comes in at around $1.0 billion after factoring in anticipated tax benefits. The Des Moines-based business designs, integrates, and manufactures highly engineered control and relay panels, as well as modular integrated control buildings for utility, power generation, and industrial applications. This makes this a highly strategic acquisition, one with a solid growth runway, driven by long-term trends around grid modernization, electrification, and data center build-outs. Given a $323 million revenue contribution, the deal is valued at just over 3 times sales, with these sales growing at double digits on an organic basis. Adjusted EBITDA is seen in the mid-to-high teens, which suggests a roughly $50-$60 million EBITDA contribution, for a 17-20 times multiple paid on that front. Deals like this fit the l...
Dougal Waters Global markets are reeling from a brutal selloff in Asia, where Japan's Nikkei and South Korea's Kospi have posted their worst monthly drops since the 2008 financial crisis. In light of this, below is a list of the top 10 foreign stocks ranked according to their Seeking Alpha Quant Ratings. These stocks represent various international markets and sectors, with companies from countrie...
Dougal Waters Global markets are reeling from a brutal selloff in Asia, where Japan's Nikkei and South Korea's Kospi have posted their worst monthly drops since the 2008 financial crisis. In light of this, below is a list of the top 10 foreign stocks ranked according to their Seeking Alpha Quant Ratings. These stocks represent various international markets and sectors, with companies from countries including Brazil, Australia, Finland, Italy, and Switzerland. The list is topped by Petróleo Brasileiro S.A. - Petrobras ( PBR ), the Brazilian oil giant with a near-perfect Quant Rating of 4.98. Lynas Rare Earths Limited ( LYSDY ) and Neste Oyj ( NTOIY ) follow closely behind, each with ratings of 4.97. The list showcases significant global diversity, with European entries like Eni S.p.A. ( E ) from Italy and Glencore plc ( GLNCY ) from Switzerland earning ratings of 4.96 each. All stocks in the top 10 currently hold a Strong Buy quantitative recommendation, signaling favorable conditions across multiple metrics. Seeking Alpha’s Quant system ranks stocks based on their performance on critical quantitative measures, including valuation, growth, stock momentum, and profitability. Each stock is rated on a scale of 1 to 5, with any rating of 3.5 or above considered a bullish rating. A score of 2.5 or below represents a bearish assessment. Here is the list: Petróleo Brasileiro S.A. - Petrobras ( PBR ), Quant Rating: 4.98 Lynas Rare Earths Limited ( LYSDY ), Quant Rating: 4.97 Neste Oyj ( NTOIY ), Quant Rating: 4.97 Eni S.p.A. ( E ), Quant Rating: 4.96 Glencore plc ( GLNCY ), Quant Rating: 4.96 Transocean Ltd. ( RIG ), Quant Rating: 4.95 Repsol, S.A. ( REPYY ), Quant Rating: 4.95 Frontline plc ( FRO ), Quant Rating: 4.94 DHT Holdings, Inc. ( DHT ), Quant Rating: 4.93 Rio Tinto Group ( RIO ), Quant Rating: 4.93 More on foreign stocks Neste: I'm Out, The Upside Is Too Speculative (Rating Downgrade) Petrobras: Compelling Valuation At Current Price Level Hard Assets Weekly: The Si...
Wirestock Ferrari ( RACE ) earned an upgrade at Jefferies on the expectation that the risk-off trade that eroded the share price will give way to bargain-hunting, supported by first-quarter results that will demonstrate high-single-digit growth and margin expansion. Analyst James Grzinic now sees the supercar maker as a Buy with a higher price target of $350. Past market shocks that led to double-...
Wirestock Ferrari ( RACE ) earned an upgrade at Jefferies on the expectation that the risk-off trade that eroded the share price will give way to bargain-hunting, supported by first-quarter results that will demonstrate high-single-digit growth and margin expansion. Analyst James Grzinic now sees the supercar maker as a Buy with a higher price target of $350. Past market shocks that led to double-digit declines in RACE’s share price (COVID, Ukraine invasion, Liberation Day) eventually saw Ferrari ( RACE ) rebound by an average of 16% within three months from “absolute market troughs.” The main concern for the market was the outlook for Ferrari’s ( RACE ) high-margin Middle East shipments and how this would impact 2026 expectations. However, RACE seems to have pulled forward deliveries, especially in the U.S., to paper over short-term logistical disruptions. “Our higher confidence in the group’s ability to deliver in an increasingly challenged context is supported by firm evidence of stabilizing pressures in second-hand range models and a major step up in values of limited vehicles,” Grzinic says in his note. Ferrari ( RACE ) shares are up for a second day for a two-day total of +6.4%. More on Ferrari Ferrari: The Luxury Flywheel Seems Intact, But 'Luce' Is The Brand Test Of The Decade Ferrari Remains Resilient But Isn't A Buy Yet Ferrari N.V. (RACE) Q4 2025 Earnings Call Transcript Ferrari resumes Middle East shipments Iran conflict chokes off Ferrari's richest region
Klaus Vedfelt/DigitalVision via Getty Images By James Knightley, Chief International Economist, US Consumer expectations continue to slip We've got a bit of a mixed picture in today's US data reports. The Conference Board measure of consumer confidence was better than expected, rising to 91.8 in March from 91.0 in February, but it was due to the current conditions component rising to 123.3 from 12...
Klaus Vedfelt/DigitalVision via Getty Images By James Knightley, Chief International Economist, US Consumer expectations continue to slip We've got a bit of a mixed picture in today's US data reports. The Conference Board measure of consumer confidence was better than expected, rising to 91.8 in March from 91.0 in February, but it was due to the current conditions component rising to 123.3 from 120, while the more important expectations component fell to 70.9 from 72.0. Within this section, the outlook or the jobs market is darkening, with only 15.4% of respondents thinking there will be more jobs in six months, while 27.9% think there will be fewer, with the balance saying no change. The current level of consumer expectations six months ahead has historically been consistent with consumer spending growth of around 1% – see chart below. Job vacancies fall more than expected as quits and hiring moderates Separately, the Job Openings and Labor Turnover statistics show job openings falling to 6882k in February from an upwardly revised January print of 7240k. There was also a pickup in layoffs to 1721k from 1660k, while the number of job hirings fell 503k in the private sector and the quits rate dropped to 1.9%. None of this is good news for future wage growth, but that in itself will help to moderate second-round price effects from higher energy costs, so the consolation is that it provides some comfort for the Federal Reserve. Such a low quit rate implies very low worker turnover – so for employers there is no pressure to offer large wage increases to retain staff while there are now 0.91 jobs for every unemployed American. As recently as 2022, there were two job openings for every unemployed American, so this underscores how big a swing in the labour demand/supply balance there has been. This is consistent with wage growth historically at around just 3%, which is not great news for consumer spending, but at least limits the medium-term inflation threat. Friday's non-...
kontekbrothers/iStock via Getty Images Weekly Market Recap – Week Ending March 27, 2026 U.S. equity markets experienced broad-based weakness this week, with growth-oriented and technology-heavy segments leading the decline, as reflected in notable pullbacks across major ETFs such as QQQM, XLK, and XLC. Despite this overall softness, pockets of strength emerged in energy and materials, where rising...
kontekbrothers/iStock via Getty Images Weekly Market Recap – Week Ending March 27, 2026 U.S. equity markets experienced broad-based weakness this week, with growth-oriented and technology-heavy segments leading the decline, as reflected in notable pullbacks across major ETFs such as QQQM, XLK, and XLC. Despite this overall softness, pockets of strength emerged in energy and materials, where rising commodity prices and continued geopolitical sensitivities supported gains in XLE and XLB. The divergence in sector performance highlights an ongoing rotation beneath the surface, as investors selectively reposition toward inflation-sensitive and resource-linked assets while trimming exposure to high-multiple growth sectors. Meanwhile, individual stock performance continues to reinforce this trend, with energy-linked names delivering strong short-term gains, underscoring the market’s current preference for tangible asset exposure over broader index participation. In the below tables we use major ETFs as a proxy for some major indexes as well as each of the sector groups into which we divide the overall markets. Tracking these over time provides a more defined picture of the U.S. markets than simply tracking major indexes. This is followed by notable individual stock movers over the past month and, finally, our full strategy outlook. Strategy Note: We could summarize our strategic outlook for the upcoming week as “Read last week’s strategy update. Rinse and repeat.” With governmental chaos still the order of the day and inflation concerns showing no sign of abating, this is a very tough environment for funds needing to be close to 100% long in stocks. But here are alternatives within the general equity ETF category without taking on private equity or commodities-linked equity risk. Individual investors who have most of their assets in broad-based equity funds or indexed ETFs might consider diverting new fund flows into some of the buffered ETFs offered by Innovator Capital, ...
Another Greek Tanker Sneaks Through Strait Of Hormuz Another Greek-controlled oil tanker has crossed the Strait of Hormuz, despite Iran's declaration that only "friendly" vessels will be allowed to make the transit, marking the fourth such voyage since hostilities in the Middle East began. The suezmax Pola, which switched off its tracking system in the Persian Gulf on March 10, was detected again ...
Another Greek Tanker Sneaks Through Strait Of Hormuz Another Greek-controlled oil tanker has crossed the Strait of Hormuz, despite Iran's declaration that only "friendly" vessels will be allowed to make the transit, marking the fourth such voyage since hostilities in the Middle East began. The suezmax Pola, which switched off its tracking system in the Persian Gulf on March 10, was detected again on Monday by the Automatic Identification System: it was located several thousand miles away. The ship was sailing in the eastern Indian Ocean near the maritime corridor off the coast of Indonesia’s Sumatra island, according to vessel tracking data compiled by Bloomberg. Its reappearance obviously confirms the tanker successfully crossed the Strait of Hormuz. The tanker, laden with roughly 1 million barrels of crude, is en route to Thailand, according to data from intelligence firm Kpler. The Pola is the fourth vessel managed by Dynacom Tankers Management Ltd. to make the passage through Hormuz with its transponder switched off since its effective closure. The firm also sent the oil tankers Shenlong, Smyrni and Marathi through the narrow waterway earlier this month. While Iran continues to bar “hostile” entities from the strategic waterway, several Asian countries, including Thailand, have secured bilateral agreements to allow passage through the Strait for some tankers and cargo ships. However, Greece is not among the countries publicly viewed by Tehran as "friendly." Still, risks to shipping in the Persian Gulf remain high, with Iran hitting a fully laden Kuwaiti tanker off Dubai in a drone strike last night. Tyler Durden Tue, 03/31/2026 - 14:20
The restart of some 50,000 barrels a day of oil production off the coast of California will have have “no impact” on oil prices, the state’s Attorney General said in an interview on Bloomberg Televison . Houston-based oil driller Sable Offshore Corp. has spent years attempting to restart production at a cluster of platforms off the Santa Barbara coast, facing local opposition tied to an onshore pi...
The restart of some 50,000 barrels a day of oil production off the coast of California will have have “no impact” on oil prices, the state’s Attorney General said in an interview on Bloomberg Televison . Houston-based oil driller Sable Offshore Corp. has spent years attempting to restart production at a cluster of platforms off the Santa Barbara coast, facing local opposition tied to an onshore pipeline that spilled more than 2,000 barrels of oil onto California beaches when owned by Plains All American Pipeline. Earlier this month, US Energy Secretary Chris Wright instructed Sable to restart the pipeline system under an executive order invoking emergency powers from President Donald Trump , leading to a lawsuit from California AG Rob Bonta . “The amount of oil that moves through that pipeline is negligible,” Bonta said Tuesday in the interview. “We don’t have a national energy emergency despite the claims of the president.” Read More: Sable Restarts California Oil Sales, Sends Crude to Chevron
The US municipal market’s worst month in more than two years has cheapened the debt enough to lure some investors looking to add to their tax-exempt holdings. It’s been a tough stretch across fixed income, with the Middle East conflict pushing up oil prices and sparking inflation concerns. But munis have had an especially poor month, declining 2.5% in March through Monday, on track for their bigge...
The US municipal market’s worst month in more than two years has cheapened the debt enough to lure some investors looking to add to their tax-exempt holdings. It’s been a tough stretch across fixed income, with the Middle East conflict pushing up oil prices and sparking inflation concerns. But munis have had an especially poor month, declining 2.5% in March through Monday, on track for their biggest monthly loss since September 2023, Bloomberg index data show. Treasuries , meanwhile, have held up marginally better, with a 1.8% drop. A heavy calendar of supply contributed to munis’ underperformance. Issuance in 2026 is ahead of the pace seen in 2025, when annual offerings set a record high. It’s also a challenging time of year, with less cash flowing in before Americans make tax payments in April. The upshot is that some market observers say it’s time to take advantage of the droop. “This month’s selloff provides an opportune time for investors” after yields jumped in March, AllianceBernstein’s Daryl Clements and Daniel Carpenter wrote in a note on Monday. “Not only that, but relative valuations have improved significantly across the curve, and the market looks quite attractive both from an absolute income and relative-value perspective.” Benchmark 10-year muni yields are up about 60 basis points this month, to around 3.07% on Tuesday, while the rate on similar-maturity Treasuries has only risen by around 40 basis points. As a result, top-rated munis now offer about 71% of the yield of their federal counterparts, the highest percentage since September, according to data compiled by Bloomberg. That ratio, a widely used measure of relative value for municipal investors, was closer to 60% in early February. Shannon Rinehart , co-head of muni investments at Columbia Threadneedle Investments, said she’s started to buy this week given “attractive” yields, especially on longer maturities. Tuesday brought a bit of a respite for bonds, with oil falling from its highs on hopes...
Alphabet (NASDAQ:GOOGL) shares rose approximately 4.83% in Tuesday’s session, climbing from an opening price of $273.50 to trade at around $287. The move is a meaningful bounce for a stock that has struggled in recent weeks, with GOOGL shares still down 9% year to date. Today’s session puts the stock on pace for one of ... Alphabet Climbs 5%: Google’s Nine-Minute Bitcoin Warning Is Turning Heads o...
Alphabet (NASDAQ:GOOGL) shares rose approximately 4.83% in Tuesday’s session, climbing from an opening price of $273.50 to trade at around $287. The move is a meaningful bounce for a stock that has struggled in recent weeks, with GOOGL shares still down 9% year to date. Today’s session puts the stock on pace for one of ... Alphabet Climbs 5%: Google’s Nine-Minute Bitcoin Warning Is Turning Heads on Wall Street