If you're getting dizzy watching the stock market, you're not alone. Volatility has spiked this year, and the S&P 500 (^GSPC +1.62%) seems to be swinging every day based on the latest news out of Iran or President Trump's most recent social media posts. For investors, it's a challenging market environment, but it also presents a conundrum. With volatility comes opportunity, but it's often a fool's errand to chase it, trying to time the market bottom or the bottom on an individual stock, especially in a situation as hard to predict as the Iran war. For long-term investors, there's a better way to approach it. Take a breath It's worth remembering, during geopolitical crises like this one, that the stock market has faced similar challenges many times before. While a bear market isn't out of the ordinary, the S&P 500 has always returned to an all-time high afterwards. That includes previous shocks like the Great Depression, World War II, the oil embargo and stagflation of the 1970s, 9/11, the financial crisis, the pandemic, and many more. Looking at it from that perspective, the war in Iran looks more like a bump in the road rather than a brick wall. Control what you can control First, remember that you don't need to do anything. Just because markets are moving, you don't need to change your positions. Often, doing nothing is the best move. Some of your holdings might be down substantially, but if you've done the work of putting together a diversified portfolio of high-quality companies at fair prices, you should do well over the long term. Times like these are also a good opportunity to build up your cash pile to deploy if share prices fall low enough. Along those lines, it's a good idea to make a watch list of stocks you're interested in buying, along with the price at which you'd pull the trigger. You might get some good opportunities if the volatility continues. Expand SNPINDEX : ^GSPC S&P 500 Index Today's Change ( 1.62 %) $ 105.29 Current Price $ 6611.77 Key Data ...

Key Points The war in Iran is roiling global markets, but past crises have done the same. The S&P 500 has always returned to all-time highs with enough time following geopolitical shocks like the Iran conflict. Investors should consider hoarding cash to take advantage of a deeper market sell-off. 10 stocks we like better than S&P 500 Index › If you're getting dizzy watching the stock market, you're not alone. Volatility has spiked this year, and the S&P 500 (SNPINDEX: ^GSPC) seems to be swinging every day based on the latest news out of Iran or President Trump's most recent social media posts. For investors, it's a challenging market environment, but it also presents a conundrum. With volatility comes opportunity, but it's often a fool's errand to chase it, trying to time the market bottom or the bottom on an individual stock, especially in a situation as hard to predict as the Iran war. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » For long-term investors, there's a better way to approach it. Take a breath It's worth remembering, during geopolitical crises like this one, that the stock market has faced similar challenges many times before. While a bear market isn't out of the ordinary, the S&P 500 has always returned to an all-time high afterwards. That includes previous shocks like the Great Depression, World War II, the oil embargo and stagflation of the 1970s, 9/11, the financial crisis, the pandemic, and many more. Looking at it from that perspective, the war in Iran looks more like a bump in the road rather than a brick wall. Control what you can control First, remember that you don't need to do anything. Just because markets are moving, you don't need to change your positions. Often, doing nothing is the best move. Some of your holdings might be down substantially, but if you've done the ...

Justin Sullivan/Getty Images News PG&E ( PCG ) up 1.1% in Monday's trading despite receiving a downgrade at Jefferies to Hold from Buy with a $19 price target, trimmed from $20, noting shares have gained 20% since January lows in reflecting increased hope for a supportive outcome from SB254 Phase 2, but it now has less confidence in a constructive wildfire liability reform for utilities. Based on conversations with key stakeholders, Jefferies analyst Julien Dumoulin-Smith said he does not see sufficient political appetite to enact a structural reform that meaningfully shifts wildfire liability away from utilities shareholders and ratepayers. While support from the California PUC and TURN is constructive, Dumoulin-Smith said a critical missing element remains a buy-in from the insurance sector, where resistance persists to altering current risk-transfer mechanics. Early indicators point to an elevated 2026 fire season risk, the analyst said, although it remains unclear whether it will catalyze legislative urgency; April 1 snow-water equivalent estimates suggest statewide snowpack at 37% of historical averages with Northern California at just 18%. More on PG&E PG&E: Buy A Redesigned Company PG&E Starting To Climb Out Of Valuation Pit PG&E Q4 2025 Earnings Call Transcript

"They're able to now arrest illegals as they come into the country. That's very fertile territory," he told reporters. "But that's not why they're there. They're really there to help."

北京时间3月24日凌晨，美股周一尾盘大幅上涨。美国总统特朗普表示美伊双方已举行会谈，且他已叫停对伊朗发电厂及能源基础设施的打击行动，为投资者带来希望——此前推高油价并引发全球衰退担忧的中东冲突或正接近尾声。 道指涨861.52点，涨幅为1.89%，报46438.99点；纳指涨389.15点，涨幅为1.80%，报22036.76点；标普500指数涨106.30点，涨幅为1.63%，报6612.78点。 特朗普周一上午在Truth Social平台发文前，受油价飙升及伊朗冲突持续时间不确定性困扰，期货市场原本预示股市将进一步下跌。但在特朗普表态后，道指期货一度飙升逾1100点。 三大美国股指盘中高点涨幅均超2%。道指最高上涨逾1100点，涨幅达2.5%； 纳斯达克 指数最高上涨2.5%；标普500指数最高上涨2.2%。 特朗普发文后原油价格下跌，西得克萨斯中质原油期货跌幅逾11%，至每桶87美元左右；国际基准布伦特原油期货跌幅亦逾11%，至每桶98美元。 特朗普在帖子中写道：“我很高兴地报告，美利坚合众国与伊朗在过去两天里，就全面、彻底解决我们在中东的敌对状态，进行了非常良好且富有成效的对话。” 他补充道：“基于这些深入、细致且富有建设性对话的基调与氛围——本周此类对话还将继续——我已指示国防部，将针对伊朗发电厂及能源基础设施的所有军事打击行动推迟五天，此举取决于后续会谈与讨论的进展。” 周一上午晚些时候，特朗普表示伊朗和美国都希望“达成协议”，两国“今天可能会通过电话沟通”。 但在伊朗官方媒体称美伊之间未举行直接会谈后，美股三大股指均从盘中高点回落。 在媒体传出美国正同伊朗伊斯兰议会议长卡利巴夫进行会谈的消息后，伊朗方面迅速予以否认，军方人士还称战斗将持续。 据央视新闻，伊朗方面否认卡利巴夫正在参加与美国方面的谈判。 据新华社，卡利巴夫23日周一在社交媒体发文，否认已经与美国举行谈判，称这是用于操纵金融和石油市场的“假消息”。 新华社援引伊朗媒体称，有关方面试图在伊朗制造“政治和社会裂痕”，这是一个“弥天大谎”。 特朗普此番表态正值伊朗战争进入第五周。此前一个周末，因特朗普发出最后通牒，局势再度升级。 特朗普曾威胁称，若霍尔木兹海峡——这一石油及其他能源产品的关键航运通道——未在48小时内重新开放，美方将对伊朗发电厂发动攻击。而伊朗则回应称，若美方兑现威胁，将打击美国...

AMD's Enterprise CPU and GPU roadmap: Venice, Verano, Zen 6, Helios, and CDNA Tom's Hardware

Key Points Oil prices could surge or fall, depending on the outcome of U.S. talks with Iran. I'd start looking more closely at oil stocks that could thrive no matter what happens to oil prices. I'd also begin evaluating LNG stocks, which could benefit from the long-term impacts of damage to facilities in Qatar. 10 stocks we like better than Chevron › President Trump recently issued an ultimatum to Iran. Fully reopen the Strait of Hormuz within 48 hours, or the U.S. would begin attacking the country's power plants. Such strikes would likely drive Iran to retaliate against energy infrastructure in the Gulf, which could send oil prices even higher. However, the President announced he was postponing potential military strikes against Iran's power plants for five-days on Monday morning based on some productive dialogue with Iran over the weekend. This positive news sent stock prices soaring, while oil prices and oil stocks fell. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » As an energy investor, here are two things I'd do right now. Build an oil stock watch list This week will be a pivotal one for the oil market. If the U.S. and Iran start progressing toward peace, crude prices will keep falling. However, if the two sides can't reach an agreement to de-escalate, crude prices could go much higher, especially if Iran attacks additional oil infrastructure in the Persian Gulf. Given the uncertainty, I'd spend this week building a list of oil stocks that I'd buy based on the direction crude prices appear headed. One oil stock that would top my watch list is Chevron (NYSE: CVX). The oil giant has one of the lowest breakeven levels in the oil sector at less than $50 a barrel and a fortress balance sheet. Chevron is also on track to grow its cash flow at a more than 10% compound annual rate through 2030 at ...

is a news writer who covers the streaming wars, consumer tech, crypto, social media, and much more. Previously, she was a writer and editor at MUO. Apple will soon bring advertisements to its Maps app on mobile and the web, according to a report from Bloomberg’s Mark Gurman. The ads, which Apple could reportedly announce this month before rolling them out in the summer, could allow businesses to pay for the highest spot in search results on Apple Maps. That means if one restaurant secures the winning bid for the word “sushi” or “pizza,” its location could receive priority in search results over other relevant businesses, as reported by Bloomberg. The setup is similar to how advertising works on Google Maps, which also allows businesses to pay for a higher rank on search results. The move will bring even more revenue into Apple’s services division — the unit in charge of the App Store, Apple Music, Apple TV, iCloud, and advertising — which raked in over $109 billion in 2025. Apple already offers advertising inside its App Store, along with its News and Stocks apps. The company also told developers that it planned to bring more ad slots to App Store search results in the UK and Japan on March 3rd, with a launch in the US and other countries to follow by the end of this month, according to MacRumors.

格隆汇3月24日｜市场消息：伊朗外长阿拉格奇与阿曼外交部长阿尔布赛迪讨论了霍尔木兹海峡的局势。

JavaScript seems to be disabled. Please enable JavaScript to take full advantage of iPlayer.

格隆汇3月24日｜当地时间3月23日，据一名消息人士透露称，所谓伊朗伊斯兰议会议长卡利巴夫与美国谈判完全是假消息，捏造该假消息的目的之一是为暗杀卡利巴夫创造条件。这名消息人士说，捏造谈判假消息的目的还包括诋毁卡利巴夫、在伊朗国内引起分裂、煽动民众情绪。这名消息人士表示，伊朗官员一致认为，在伊朗实现目标、侵略者悔改之前，战斗将继续下去。

Ukraine has enough diesel for March, April volumes formed for 70%, says ministry Reuters

格隆汇3月24日｜美国驻欧盟大使普兹德：美国与欧盟接近达成关键矿物协议；乐观预计欧盟议员将投票推动降低对美国工业品的关税。

格隆汇3月24日｜市场消息：荷兰财政部在遭遇黑客攻击后封锁了计算机系统。

Key Points AbbVie's growth rate has been accelerating in recent quarters. Its diverse business can enable it to continue growing at a strong rate in the future. The stock trades at just 14 times its estimated future earnings. 10 stocks we like better than AbbVie › AbbVie (NYSE: ABBV) is a top healthcare stock, but it isn't trading like one of late. This year, it's down 11%, and it has been underperforming the S&P 500, which is down only 4%. Investors have been bearish on healthcare stocks as a whole, with the Healthcare Select Sector SPDR ETF falling by 6% thus far. Concerns about healthcare reform and government cuts have been weighing on the sector. For investors, however, now can be an opportune time to buy low on a quality stock such as AbbVie. While it may not be doing well of late, that doesn't mean it can't still be a great buy for the long haul. Here's why this might be an underrated stock to buy right now. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » AbbVie's business is showing strength The past couple of years haven't been easy for AbbVie, as the pandemic disrupted regular hospital operations, and the healthcare company has also lost patent protection for its top drug, Humira. But AbbVie has shown that it can pivot and adapt, with its new immunology drugs Skyrizi and Rinvoq doing well in filling the gap. Together, those drugs generated $25.9 billion in revenue last year, while Humira sales were cut in half, totaling just $4.5 billion. AbbVie's revenue totaled $61.2 billion in 2025, which increased by 9% from the previous year. The company's growth rate has been accelerating in recent quarters, showing a strong upward trend. The company's diverse operations give it plenty of different levers to pull on to drive more growth. Even though its core business did well last year, its aesthet...

格隆汇3月24日｜标普全球评级：量子计算对数字资产构成风险。

PhonlamaiPhoto/iStock via Getty Images By Zain Vawda Gold prices experienced a significant shift on Monday as the market reacted to geopolitical developments. Spot gold ( XAUUSD:CUR ) initially plunged as much as 9%, hitting a four-month low and marking its ninth consecutive session of losses. Source: LSEG However, the precious metal managed to recover some of those earlier declines after US President Donald Trump announced a delay in potential strikes against Iranian energy infrastructure and power plants. Ahead of the US open, gold had pared its steepest losses to sit down 1.8% at $4420/oz. The precious metal turned green on the day briefly before resuming its decline from around the $4500/oz handle. Macro dominates: Rate cuts no longer priced in for 2026 as geopolitics take a backseat One of the key reasons for the sharp selloff in gold which saw the precious metal record its worst week in 43 years last time out is the changes to the monetary policy path for the Federal Reserve. Markets are no longer pricing in rate cuts in 2026 - this according to the latest LSEG data. Over the last week, markets have slashed the probability of rate cuts to zero, with markets now pricing in around 2 bps of rate hikes through December 2026. This shift in trajectory stems from the concerns around energy prices and inflationary pressure moving forward. The chart below shows the correlation in play at the moment between rising oil prices and the fall in gold prices. Source: ING One thing has become clear though - geopolitics is not enough to keep gold prices on the offensive in the current environment. The macro picture is in part tied to the geopolitical developments, which makes the outlook and developments even more intriguing and volatile for market participants. This was evidenced by the reaction to President Trump's tweet about postponing strikes on Iran's energy infrastructure and his claim of talks with the Iranian government. The tweet was followed by a 12% drop in oil pric...

peterschreiber.media/iStock via Getty Images U.S. mid-cap stocks have delivered solid year-to-date performance amid favorable economic conditions and broadening market participation, despite recent volatility due to geopolitical challenges. In light of this, below is a list of the top 10 mid-cap stocks ranked by their year-to-date performance. The list includes companies from sectors such as biotechnology, semiconductor materials and equipment, pharmaceuticals, and communications equipment. The list is topped by ImmunityBio, Inc. ( IBRX ), with a YTD performance of 327.78%. Erasca, Inc. ( ERAS ) follows closely behind with gains of 292.47%, while AXT, Inc. ( AXTI ) rounds out the top three with a 231.74% increase. Other notable performers include Alumis Inc. ( ALMS ) and Applied Optoelectronics, Inc. ( AAOI ), both showing gains above 150%. Among the top 10, two stocks carry Strong Buy quant ratings: Fastly, Inc. ( FSLY ) with a rating of 4.99 and Ultra Clean Holdings, Inc. ( UCTT ) with a rating of 4.97. Here is the list: ImmunityBio, Inc. ( IBRX ), YTD perf: 327.78%, Quant Rating: Hold 3.48 Erasca, Inc. ( ERAS ), YTD perf: 292.47%, Quant Rating: Hold 3.49 AXT, Inc. ( AXTI ), YTD perf: 231.74%, Quant Rating: Hold 3.48 Alumis Inc. ( ALMS ), YTD perf: 156.76%, Quant Rating: Hold 3.49 Applied Optoelectronics, Inc. ( AAOI ), YTD perf: 151.12%, Quant Rating: Hold 3.49 Fastly, Inc. ( FSLY ), YTD perf: 147.54%, Quant Rating: Strong Buy 4.99 Babcock & Wilcox Enterprises, Inc. ( BW ), YTD perf: 139.43%, Quant Rating: Hold 3.49 Amprius Technologies, Inc. ( AMPX ), YTD perf: 130.67%, Quant Rating: Hold 3.49 Day One Biopharmaceuticals, Inc. ( DAWN ), YTD perf: 130.04%, Quant Rating: Hold 3.46 Ultra Clean Holdings, Inc. ( UCTT ), YTD perf: 127.67%, Quant Rating: Strong Buy 4.97 Mid-Cap ETFs: ( IJH ), ( VO ), ( IWR ), ( MDY ), ( VOE ), ( VOT ), ( SCHM ), ( IJK ), and ( IJJ ) More on mid-cap stocks The 1-Minute Market Report, March 22, 2026 IJK: A Core Mid-Cap Growth ETF Is Outpe...

Every PM hopes to emerge having said nothing that makes the news, and with Iran centre-stage Keir played a blinder What a difference a week makes. At last week’s prime minister’s questions, Keir Starmer tried to persuade us that he knew less than he did. His memory was so bad that he could barely remember who Peter Mandelson was, let alone why he had appointed him as ambassador to the US. Fast forward to Monday’s appearance before the liaison committee, the supergroup of select committee chairs, and Keir was desperate to convince us he knew more than he did. He had the inside track on Iran. He was in control. He also wasn’t altogether convincing. Mind you, it’s hard not to feel some sympathy with Starmer. The whole point of being prime minister is that you’re expected to know more than the rest of us. And most of the time you do. State secrets are your life blood. Only just occasionally the veil slips. Having threatened to obliterate Tehran’s power plants just days earlier, on Monday morning Donald Trump announced on Truth Social – along with a strange witch reference – that he was going to delay the bombardment for five days as constructive talks with the Iranian regime were taking place. Continue reading...

格隆汇3月24日｜哥伦比亚总统：军用飞机坠毁致1人死亡，77人住院治疗。

Hedge fund founder George Weiss has lost his defamation suit accusing Jefferies Financial Group of running a “smear campaign” to pressure him to pay a $100 million debt owed by his firm, Weiss Multi-Strategy Advisers. New York Judge Phaedra F. Perry-Bond dismissed the suit , saying Weiss’ claims faced a higher-bar because the allegedly false statements were contained in a rough draft of a separate lawsuit Jefferies sent before bringing the actual complaint in 2024. Moreover, Jefferies succeeded in its lawsuit and Weiss was found liable for the debt, Perry-Bond said in a March 20 decision . Weiss’ spokeswoman said he disagrees with the ruling and plans to appeal, adding “the decision in no way endorses or affirms the defamatory statements made by Jefferies and only concludes that those statements are protected as a legal matter merely because they were in a complaint.” Weiss has also challenged the debt ruling; a federal appeals court in New York is scheduled to listen to arguments in that case next month. Jefferies declined to comment on the ruling. The firm has previously denied wrongdoing and said Weiss’ claims were brought in bad faith. In a court filing from March 2025, Jefferies said statements the firm made related to the suit were protected. Discussions between Weiss and Jefferies in the months before his hedge fund filed bankruptcy have formed the basis of the defamation lawsuit. Weiss has alleged Jefferies threatened to ruin his reputation if he didn’t agree to provide extra protections to Jefferies’ debt. Jefferies has also alleged Weiss used funds his firm owed for his personal benefit — including travel on a corporate jet — an allegation that Weiss has denied. The dispute between Jefferies and Weiss became public after his hedge fund filed Chapter 11 in April 2024. The following year, Weiss filed personal bankruptcy after a New York federal judge found him personally liable for the Jefferies debt. In his bankruptcy petition, Weiss listed a roughly $113 m...

Jonathan Kitchen/DigitalVision via Getty Images Investment Thesis The AI server industry was supposed to be on thin ice with component costs rising and competition stiff. Super Micro Computer, Inc. ( SMCI ) and Dell Technologies Inc. ( DELL ) were already reeling from the pressure of competing with each other for Nvidia’s high-end servers like the GB200 and GB300, despite rising component costs, when competition from Asian manufacturers began tilting the global battle stage for AI servers. That caused both Super Micro's and Dell’s shares to trade at well below the par value of their revenues, signaling extreme pessimism. But this past quarter showed that demand for AI servers was so strong that vendors like Dell and Super Micro were able to pass on rising costs to their clients, something that is unprecedented, creating generational opportunities for both server vendors. Unfortunately, fundamental issues have resurfaced at Super Micro again after a co-founder at the company was indicted for allegedly smuggling sensitive AI equipment to China, putting Super Micro in a vulnerable position yet again. This vulnerable position leaves Dell to win almost entirely from Super Micro’s troubles, leading me to reiterate my bullishness on Dell while downgrading my views on Super Micro Computer to a Strong Sell. Super Micro’s Systemic Problems Aren’t Worth Buying On Thursday last week, the DOJ indicted 3 members of Super Micro Computer, one of them being a co-founder of the company, for allegedly smuggling $2.5B worth of leading-edge AI servers from the U.S. to China: Today, an indictment was unsealed charging Yih-Shyan “Wally” Liaw, Ruei-Tsang “Steven” Chang, and Ting-Wei “Willy” Sun, for allegedly conspiring to divert high-performance computer servers assembled in the United States and integrating sophisticated U.S. artificial intelligence technology to China, in violation of U.S. export controls laws. Liaw, a U.S. citizen, and Sun, a citizen of Taiwan, were arrested today and ...

油塘私家車疑收掣不及撞環保斗 司機受傷送院 To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video 【有線新聞】油塘有私家車失事撞向環保斗，34歲司機受傷。 涉事私家車損毀嚴重，車頭蓋摺曲、組件外露、車廂安全氣袋彈出。早上六時許，私家車沿高輝道駛往海旁方向，去到東源街附近懷疑收掣不及，撞向擺放在路邊環保斗，車頭位置一度冒煙，司機頭和手損傷，由救護車送聯合醫院治理，警方其後拖走私家車查驗。

格隆汇3月24日｜欧洲央行首席经济学家连恩表示，欧洲依赖银行融资的现状阻碍了欧洲以人工智能为核心的创新发展。连恩表示，这也是各国政府必须紧急推进长期设想的储蓄与投资联盟的原因。这为加强欧盟27个成员国之间更紧密合作的主张增添了论据。连恩指出：“欧元区以银行为中心的金融体系与人工智能机遇的规模和性质并不匹配。以银行为基础的融资在结构上不太适合无形、长周期的投资，而风险投资和私人信贷等替代渠道在欧元区又过于薄弱。”他表示，需要建立一个“更深、更一体化的资本市场，这样的市场可以扩大无形资产密集型项目的投资者基础，促进跨境风险分担，并减少对银行融资的需求”。

If you want to make life-changing returns in the stock market, focus on long-term investing, which generally involves holding equities for periods of five years or more. This strategy helps investors ignore the short-term volatility, giving time for a company's real value to shine through. Consistent dividend payments help juice returns by adding a source of compounding passive income. Let's discuss why Alpine Income Property Trust (PINE +2.69%) and Home Depot (HD +3.96%) could make great stocks to buy for the long haul. Alpine Income Property Trust Alpine Income is a real estate investment trust (REIT). These are a class of companies that are exempt from federal corporate income taxes as long as they return the vast majority of their profits to shareholders through a dividend. REITs give regular people access to consistent wealth generated by real estate without the headaches associated with traditional property ownership. And Alpine Income stands out because of its small size and epic long-term growth potential. In physics, the smaller something is, the less force is needed to move it. And this concept can also hold true in financial markets, where smaller companies often have an easier time finding deals that can move the needle. For Alpine Income, this has included a flurry of recent purchases, such as the $20.7 million acquisition of 177,441 square feet of property anchored by mainstream brands like Walmart Supercenter and TJ Maxx. Expand NYSE : PINE Alpine Income Property Trust Today's Change ( 2.69 %) $ 0.49 Current Price $ 18.72 Key Data Points Market Cap $275M Day's Range $ 18.25 - $ 18.77 52wk Range $ 13.10 - $ 20.80 Volume 97K Avg Vol 188K Gross Margin 34.32 % Dividend Yield 6.34 % While such acquisitions would be a drop in the bucket for larger REITs, they are massive compared to Alpine Income's market capitalization of just $287 million. They should help the company grow its earnings and maintain its dividend. Alpine Income aims for high-quality, well-c...

格隆汇3月24日｜据美国哥伦比亚广播公司（CBS）：霍尔木兹海峡布设了约十几个伊朗水雷。

lyash01/iStock via Getty Images Venture Global ( VG ) up 0.9% on Monday as Morgan Stanley double upgraded to Overweight from Underweight, and Cheniere Energy ( LNG ) up 1.5% as the bank raised its recommendation to Overweight from Equal Weight, with respective $22 and $313 price targets, while also raising its liquefied natural gas industry view to In-Line. Events in the Middle East, including substantial damage to the Ras Laffan LNG complex in Qatar, have improved the outlook for U.S. LNG exporters, and what started as a significant but transitory capacity outage has escalated to a multiyear loss of supply, tightening 2026 and mitigating oversupply in 2027-2028, Morgan Stanley analyst Devin McDermott said in his upgrade. Venture Global ( VG ) offers the most upside exposure to rising global LNG prices, the analyst said, with each $1/MMBtu change in margins on unsold capacity impacting 2026 EBITDA by $575M-$625M, ~10% at the midpoint during the past three weeks, forward margins for the balance of this year have risen by ~$10/MMBtu, adding ~$6B to his prior 2026 estimate. In addition to higher near-term cash flow, McDermott also gives valuation credit for value-accretive bolt-on expansions at both the Plaquemines and CP2 projects in the bank's base case, which lifts his base case stock price target in line with his prior $22 bull case. Cheniere's ( LNG ) portfolio is largely contracted, providing stable cash flows in any commodity price environment and limiting direct exposure to the recent spike in Asian and European natural gas prices, McDermott said, adding that higher prices over the last three weeks add $500M to his FY 2026 estimate, a 7% increase from his prior forecast. More importantly, the improved macro backdrop increases the likelihood of additional growth projects reaching a positive FID over the next 1-2 years, the analyst said, prompting him to factor additional expansion at both Sabine Pass and Corpus Christi into his base case while also reducing the ...