[The stream is slated to start at 10:30 a.m. ET. CNBC Television will start the stream when the event begins. Please refresh the page if you do not see a player above.] Federal Reserve Chair Jerome Powell speaks Monday to the Harvard University Principles of Economics class. This will be one of Powell's final scheduled public appearances before his term ends in May. The discussion comes with marke...
[The stream is slated to start at 10:30 a.m. ET. CNBC Television will start the stream when the event begins. Please refresh the page if you do not see a player above.] Federal Reserve Chair Jerome Powell speaks Monday to the Harvard University Principles of Economics class. This will be one of Powell's final scheduled public appearances before his term ends in May. The discussion comes with markets anticipating the central bank will be on hold regarding interest rates through the end of the year. In his most recent comments, Powell characterized the economy as growing at "a solid pace" and said he is not concerned with worries of stagflation, low growth with high inflation. However, he noted that policymakers are taking a cautious approach as multiple factors play out this year, including the Iran war, tariffs and a stagnant labor market. Powell's term ends officially on May 15, and there is only one more policy meeting between now and then. However, it's possible he will stay in the position longer if the Senate does not confirm is designated successor, former Governor Kevin Warsh. The nomination currently is being held up in the Senate Banking Committee as U.S. Attorney Jeanine Pirro continues an investigation into the renovations at the Fed's headquarters. A judge already has quashed a subpoena Pirro's office sent to Powell, though she is appealing that decision. Read more : Recession odds climb on Wall Street as economy shows cracks beneath the surface Fed's Goolsbee says he's worried about inflation in 'fraught but intense' climate Fed Governor Waller urges caution for now, says rate cuts possible later in the year Subscribe to CNBC on YouTube. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
Key Events This Holiday-Shortened Week: Payrolls, PMI, ISM, Retail Sales And Fed Speech Looking at the week ahead, we should start to learn about the economic consequences of the conflict, as several data releases for March are out which cover the period since the strikes began on February 28. In the US, that includes the monthly jobs report on Friday - which falls on a Holday when stocks are clos...
Key Events This Holiday-Shortened Week: Payrolls, PMI, ISM, Retail Sales And Fed Speech Looking at the week ahead, we should start to learn about the economic consequences of the conflict, as several data releases for March are out which cover the period since the strikes began on February 28. In the US, that includes the monthly jobs report on Friday - which falls on a Holday when stocks are closed, while bonds are open for half a day - where economists expect nonfarm payrolls to have risen by +60k in March. As a reminder, US payrolls have been pretty choppy in recent months, and on the current series of revisions they’ve been oscillating between positive and negative readings for every month since May. Last month they were down -92k, but some of that weakness was a function of a strike at a major healthcare company that’s since ended, along with severe weather that may have temporarily depressed February’s payrolls. So while DB economists are expecting a positive payrolls print for March, they think the unemployment rate will round up to 4.5% given how close it was last month (4.44%). Otherwise in the US, the focus will be on whether higher oil prices have started to impact business sentiment and inflation in a meaningful way. So the ISM manufacturing will be in the spotlight, including the prices paid component for whether the inflationary impact has started to filter through. Before that, we’ll also get the Conference Board’s consumer confidence reading tomorrow. Speaking of inflation, the main highlight in Europe will be tomorrow’s flash CPI print for the Euro Area, which is an important one as the ECB work out what to do. To be fair, the flash print from Spain last Friday was weaker than expected, at +3.3% (vs. +3.8% expected), so that’s slightly eased fears about a very strong print tomorrow. Nevertheless, even with the Spanish number, DB's European economists are still tracking the Euro Area CPI print at +2.53% year-on-year, up from +1.89% in February, a num...
Looking at the universe of stocks we cover at Dividend Channel, on 3/31/26, American Healthcare Reit Inc (Symbol: AHR) will trade ex-dividend, for its quarterly dividend of $0.25, payable on 4/17/26. As a percentage of AHR's recent stock price of $47.44, this dividend works out
Looking at the universe of stocks we cover at Dividend Channel, on 3/31/26, American Healthcare Reit Inc (Symbol: AHR) will trade ex-dividend, for its quarterly dividend of $0.25, payable on 4/17/26. As a percentage of AHR's recent stock price of $47.44, this dividend works out
Looking at the universe of stocks we cover at Dividend Channel, on 4/1/26, State Street Corp. (Symbol: STT) will trade ex-dividend, for its quarterly dividend of $0.84, payable on 4/13/26. As a percentage of STT's recent stock price of $124.46, this dividend works out to approx
Looking at the universe of stocks we cover at Dividend Channel, on 4/1/26, State Street Corp. (Symbol: STT) will trade ex-dividend, for its quarterly dividend of $0.84, payable on 4/13/26. As a percentage of STT's recent stock price of $124.46, this dividend works out to approx
subman/iStock Unreleased via Getty Images JPMorgan Chase ( JPM )-led banking group is facing pushback over its $7.2B debt deal to fund Sealed Air's ( SEE ) acquisition by CD&R from the potential buyers of SEE's bonds and loans, people familiar with the matter told Bloomberg News . In November 2025, Sealed Air agreed to be sold to the private equity firm CD&R for $42.15 a share in cash. The enterpr...
subman/iStock Unreleased via Getty Images JPMorgan Chase ( JPM )-led banking group is facing pushback over its $7.2B debt deal to fund Sealed Air's ( SEE ) acquisition by CD&R from the potential buyers of SEE's bonds and loans, people familiar with the matter told Bloomberg News . In November 2025, Sealed Air agreed to be sold to the private equity firm CD&R for $42.15 a share in cash. The enterprise value in the all-cash transaction was $10.3B. Clayton Dubilier & Rice was said to be preparing to sell roughly $4.5B in leveraged loans to support its planned takeover of Sealed Air. The loan issuance was part of a broader debt package arranged by the group of banks. Potential buyers of ~$2.45B bonds of the target company and ~$4.7B loans are concerned about some provisions of the deal. The concerns relate to a clause that may allow CD&R to spin off either SEE's food or protective reporting units, among others, according to the people who asked not to be named because discussions are private. The debt deal had roughly $5B in orders on Friday. Demand for the bonds largely matched the deal size, while orders for the $4.1B dollar-denominated loan were slower, the people reportedly said. Commitments for the dollar-denominated loan are due March 31, the report noted. Additionally, the bankruptcy filing by one of CD&R's portfolio companies, Multi-Color, was an overhang, according to the sources. More on JPMorgan Chase, Sealed Air Option Activity Is Bullish For JPMorgan And Financial Sector (Technical Analysis) JPMorgan Chase: Hold On Mixed Signals JPMorgan Chase: I'm Starting To Get Interested Under $300 With The Dividend Yield Above 2% Boomer economy: The wealthiest generation and when that could change Anthropic weighs IPO as soon as October amid race with OpenAI, report says
Bonds are reasserting themselves as a hedge against risk as investors worried about growing tensions in the Middle East shift their focus from inflation to slowing growth, said Citadel Securities . “There are signs we are approaching a shift,” Nohshad Shah , head of EMEA fixed-income sales at Citadel Securities, wrote in a client note, citing cross-asset moves. Between the start of the war late la...
Bonds are reasserting themselves as a hedge against risk as investors worried about growing tensions in the Middle East shift their focus from inflation to slowing growth, said Citadel Securities . “There are signs we are approaching a shift,” Nohshad Shah , head of EMEA fixed-income sales at Citadel Securities, wrote in a client note, citing cross-asset moves. Between the start of the war late last month and mid-last week, shifts in interest rates and the dollar accounted for about 56% of the tightening in financial conditions. Risks assets like stocks contributed the remaining 44%. That dynamic has since reversed, with risk assets driving roughly 61% of the tightening, “suggesting a transition from pricing an inflation shock to pricing growth risks,” he said. Bonds slumped this month across global markets as the conflict in Iran triggered the biggest disruptions to oil supply in history. While traders have largely focused on the inflationary impact from higher energy prices, some of Wall Street’s biggest bond managers are increasingly betting yields will decline, expecting a draw-out war drags down growth. “As these growth concerns come to the forefront, longer-dated fixed income should start to perform as a hedge to risk assets,” Shah said. A protracted war can create “demand destruction” in two different scenarios — either from persistently high energy prices or from central banks tightening policy aggressively to contain rising inflation expectations, he added. Shah warned there is little sign of a near-term resolution to the conflict, describing the situation as a “classic escalation trap.” Each side intensifies action in hopes of forcing a retreat, only to provoke further retaliation, he said. “Risk markets continue to underestimate the peril of a long conflict without a clear endgame and the impact of a sustained energy price shock,” he wrote.
Hi, it’s Fareed Sahloul in London, where a long-running battle over the future of investor Eagle Football looks to be nearing its endgame. Also today, there’s a big deal in food distribution and Hong Kong’s IPO revival hits some snags. Today’s top stories Sysco reaches $29 billion deal to buy Jetro Restaurant Depot. Uber buys chauffeur service Blacklane in premium push . Investors balk at JPMorgan...
Hi, it’s Fareed Sahloul in London, where a long-running battle over the future of investor Eagle Football looks to be nearing its endgame. Also today, there’s a big deal in food distribution and Hong Kong’s IPO revival hits some snags. Today’s top stories Sysco reaches $29 billion deal to buy Jetro Restaurant Depot. Uber buys chauffeur service Blacklane in premium push . Investors balk at JPMorgan’s $7.2 billion LBO debt deal. Kaefer owners mull sale at more than €2 billion value. Inflexion raises €4.5 billion for buyout fund in just six months . Eagle clipped A group of American investors who sought to pioneer a new model of football ownership in Europe have found out that teamwork doesn’t always, in fact, make the dream work in sport. John Textor, Josh Wander and Paul Conway spent much of the last five years separately buying teams around the world to build their own multiclub groups, sometimes advising each other along the way. The rationale was simple: build a stable of teams that shares talent and expertise, thus lowering costs and boosting profit and competitiveness. While there have been some successes along the way, the realities of football ownership look to have cost each more than they bargained for. Late last week, administrators were appointed at Textor’s Eagle Football Holdings Bidco Ltd., the UK holding company of a group that owns teams including Lyon in France. Eagle creditor Ares has been battling Textor over huge unpaid debts and it seems like the investment giant is finally out of patience. It means Eagle’s assets, which also include Brazilian club Botafogo and Belgium’s RWD Molenbeek, could end up being sold off to repay loans. Textor is pushing back back against what he calls “predatory” behavior by Ares but the US businessman will now have to cede control of Eagle while administrators figure out whether the business is viable or needs to be wound down. You can read all about the complexities of this particular tussle here . Textor is by no mea...
shengxiao wu/iStock via Getty Images Introduction A few days ago, I analyzed the thermal coal sector , given that it is the only readily available and economically viable substitute for LNG. With about 17% of LNG lost due to the Hormuz Strait closure and, more importantly, about 3% of global supply offline for a few years, it's highly probable that the power generators will switch to thermal coal ...
shengxiao wu/iStock via Getty Images Introduction A few days ago, I analyzed the thermal coal sector , given that it is the only readily available and economically viable substitute for LNG. With about 17% of LNG lost due to the Hormuz Strait closure and, more importantly, about 3% of global supply offline for a few years, it's highly probable that the power generators will switch to thermal coal to first reduce electricity costs and avoid blackouts. Prices have risen to around $130/ton but may move higher as LNG prices rise and approach caloric parity. In that article, my initial sensitivity analysis of Core Natural Resources ( CNR ) overestimated this year's potential impact due to a high level of already contracted volumes. The company has about 27% of high-quality (CV) coal production available for spot market sale, which limits this year's impact. Coal Price Parity to LNG As LNG supplies decrease and prices rise, power plants that use it to generate electricity may first switch to coal to reduce costs, which requires regulatory approval. Under this scenario, coal should trade at a discount to LNG parity . Today, with LNG prices around $20/MTU, high-grade thermal coal’s parity is around $152 on a caloric basis. Many US coal companies have lower quality grades and compete with cheap natural gas. Australia generally has far higher grades and is closer to the Japanese/Korean markets, with lower transport costs. Europe may also switch to coal, but Poland has sufficient supplies to meet demand. Nonetheless, if LNG is in deficit, then coal is the most likely to replace it in electricity generation, and the parity price may be reached. POWER Mag McCloskey Limited Leverage to High Prices After completing the merger with Arch Resources in early 2025, CNR added predominantly Powder River Basin (PRB) coal, which has low energy content and currently sells for $14/ton, compared with over $60/ton for its high-grade calorific value (CV). This acquisition also added metallurgic...
Benjamin Fanjoy/Getty Images News Investment Thesis Shares of GPU giant Nvidia ( NVDA ) are down 10% year to date as global geopolitical tensions jump as a result of the Iran war and as private credit redemptions here in the US freeze up one of the largest sources of capital for their customers (hyperscalers) to finance the purchases of GPUs. While there's no doubt Nvidia's technology is the curre...
Benjamin Fanjoy/Getty Images News Investment Thesis Shares of GPU giant Nvidia ( NVDA ) are down 10% year to date as global geopolitical tensions jump as a result of the Iran war and as private credit redemptions here in the US freeze up one of the largest sources of capital for their customers (hyperscalers) to finance the purchases of GPUs. While there's no doubt Nvidia's technology is the current backbone of the hyperscaler race to build ever larger GPU clusters, I think a second-order effect of the war in Iran is threatening to slow their GPU sales: a helium shortage. Helium, a key gas used in the production of both core semiconductors made by semi-fab giant TSMC ( TSM ) and also in HBM (High Bandwidth Memory), is now facing an acute shortage. By some estimates, over 30% of the world's helium was produced as a by-product of the production of natural gas in the key Gulf state of Qatar. This global shortage of helium more than threatens to increase the global input prices for GPUs. This shortage threatens to fundamentally curtail the global production of GPUs, especially ones that use more HBM (such as pre-training GPU clusters). With this, I continue to believe Nvidia is a strong sell. Why I'm Doing Follow-Up Coverage Nvidia shares are down 12.51% since I last covered the company before their FY Q4 earnings. While this report is not a post-earnings analysis, the big catalyst I identified in the earnings preview (private credit) looks like it is playing out how I feared it would. Over the last month, private credit funds have been hit with a wave of withdrawal requests as many investors begin to fear if the fund assets are marked at fair value. In essence, they want out. As these funds see redemptions (in many cases 8-10% of the fund), the overall demand from these funds to facilitate new loans to the hyperscalers is drying up. This is creating the 'demand' problem I warned about back in my previous piece of research on Nvidia. Now, however, Nvidia is facing a sup...
Benjamin Fanjoy/Getty Images News Investment Thesis Shares of GPU giant Nvidia ( NVDA ) are down 10% year to date as global geopolitical tensions jump as a result of the Iran war and as private credit redemptions here in the US freeze up one of the largest sources of capital for their customers (hyperscalers) to finance the purchases of GPUs. While there's no doubt Nvidia's technology is the curre...
Benjamin Fanjoy/Getty Images News Investment Thesis Shares of GPU giant Nvidia ( NVDA ) are down 10% year to date as global geopolitical tensions jump as a result of the Iran war and as private credit redemptions here in the US freeze up one of the largest sources of capital for their customers (hyperscalers) to finance the purchases of GPUs. While there's no doubt Nvidia's technology is the current backbone of the hyperscaler race to build ever larger GPU clusters, I think a second-order effect of the war in Iran is threatening to slow their GPU sales: a helium shortage. Helium, a key gas used in the production of both core semiconductors made by semi-fab giant TSMC ( TSM ) and also in HBM (High Bandwidth Memory), is now facing an acute shortage. By some estimates, over 30% of the world's helium was produced as a by-product of the production of natural gas in the key Gulf state of Qatar. This global shortage of helium more than threatens to increase the global input prices for GPUs. This shortage threatens to fundamentally curtail the global production of GPUs, especially ones that use more HBM (such as pre-training GPU clusters). With this, I continue to believe Nvidia is a strong sell. Why I'm Doing Follow-Up Coverage Nvidia shares are down 12.51% since I last covered the company before their FY Q4 earnings. While this report is not a post-earnings analysis, the big catalyst I identified in the earnings preview (private credit) looks like it is playing out how I feared it would. Over the last month, private credit funds have been hit with a wave of withdrawal requests as many investors begin to fear if the fund assets are marked at fair value. In essence, they want out. As these funds see redemptions (in many cases 8-10% of the fund), the overall demand from these funds to facilitate new loans to the hyperscalers is drying up. This is creating the 'demand' problem I warned about back in my previous piece of research on Nvidia. Now, however, Nvidia is facing a sup...
US natural gas futures fell on forecasts showing warmer weather in the eastern US than previously expected, as well as market expectations that domestic stockpiles will increase relative to seasonally normal levels in the coming weeks as demand lowers moving into spring. US gas storage levels, which were up by 14 billion cubic feet from the seasonal norm as of March 19, will move to a 155 bcf surp...
US natural gas futures fell on forecasts showing warmer weather in the eastern US than previously expected, as well as market expectations that domestic stockpiles will increase relative to seasonally normal levels in the coming weeks as demand lowers moving into spring. US gas storage levels, which were up by 14 billion cubic feet from the seasonal norm as of March 19, will move to a 155 bcf surplus by April 16, Eli Rubin , senior energy analyst at EBW Analytics Group, said in a Monday note to clients. Looking further down the price curve, the October-January spread has rapidly expanded since the war broke out in the Middle East. High production levels continue to push down October prices. Meanwhile, geopolitical risk is boosting the contract for delivery in January, when the northeastern US imports liquefied natural gas to supplement its scarce pipeline capacity during cold weather, according to a report from Energy Aspects . Futures for May delivery -12.8c, or -4.2%, to $2.897/mmbtu on Nymex, as of 9:39am ET The October-January spread has widened to -$1.678/mmbtu from -$1.222/mmbtu before the start of the war Weather: Forecasts shifted warmer in the eastern half of the US, with above-average temperatures expected from March 30-April 3 and April 9-13: Commodity Weather Group See WHUT for a map of latest 6-10 day weather forecast: NOAA Click here for two-week temperature forecasts for the U.S. Daily BNEF Gas Data: Lower-48 dry gas production on Monday ~113.6 bcf/day, or +5.4% y/y Lower-48 total gas demand on Monday ~71.3 bcf/day, or +2.5% y/y Dry gas exports to Mexico on Monday ~6.6 bcf/day, or -4.3% w/w Estimated gas flows to LNG export terminals on Monday ~20.3 bcf/day, or +3.3% w/w Gas Market News: Europe Gas Holds Gains After Trump Renews Threat on Iran Energy LNG WRAP: Asian Prices Face Upside Risk as Storm Tightens Supply European Gas Summer-Winter Spread Approaches Zero: BNEF Chart Trump Warns Iran of Escalation as US Troops Arrive in Region (1)