A $12 billion critical minerals stockpile project being developed by the US Export-Import Bank will be open to all trading companies, rather than just those named as suppliers when the initiative was launched in February. Hartree Partners LP , Traxys North America LLC and Mercuria Energy Group Ltd. — the firms mentioned in the Feb. 2 statement — helped “brainstorm and stress test” the Project Vaul...
A $12 billion critical minerals stockpile project being developed by the US Export-Import Bank will be open to all trading companies, rather than just those named as suppliers when the initiative was launched in February. Hartree Partners LP , Traxys North America LLC and Mercuria Energy Group Ltd. — the firms mentioned in the Feb. 2 statement — helped “brainstorm and stress test” the Project Vault initiative, Ex-Im Bank Chairman John Jovanovic said in an interview with Bloomberg Thursday. But while the bank expects those firms to participate, there are no preferred suppliers or providers, he added. “It is truly an open source, demand-driven model,” Jovanovic said. Explainer: Can Anyone Loosen China’s Grip on Critical Minerals? Jovanovic is looking to have Project Vault up and running this year. The initiative would be President Donald Trump ’s latest effort to aid manufacturers while minimizing reliance on minerals processed in China, thereby helping to buttress the economy from supply shocks. The project combines about $2 billion in private capital with a $10 billion loan from Ex-Im Bank. The venture will offer participating manufacturers a way to insulate their businesses from swings in prices for key materials without having to maintain their own stockpiles. While the effort will focus on rare earths and niche metals such as gallium, which is used in products like jet engines and iPhones, the mandate covers all 60 minerals deemed as critical by the US Geological Survey, he said. “Copper is one of the 60,” Jovanovic said when asked if US manufacturers are looking to procure the wiring metal through Project Vault.
The global connected car market is poised to grow from US$ 104.52 Billion in 2025 to US$ 253.47 Billion by 2033, driven by technological advancements and demand for smart features. Factors such as IoT integration and enhanced in-car connectivity propel this growth. Connected cars enhance safety with systems like ADAS, while the expansion of 5G and IoT infrastructure supports advanced functionaliti...
The global connected car market is poised to grow from US$ 104.52 Billion in 2025 to US$ 253.47 Billion by 2033, driven by technological advancements and demand for smart features. Factors such as IoT integration and enhanced in-car connectivity propel this growth. Connected cars enhance safety with systems like ADAS, while the expansion of 5G and IoT infrastructure supports advanced functionalities like autonomous driving. However, challenges such as data privacy and high integration costs pers
Advanced Micro Devices emerges as the better AI infrastructure bet compared to Super Micro Computer as its GPUs power server ecosystems, backed by strong data center growth.
Advanced Micro Devices emerges as the better AI infrastructure bet compared to Super Micro Computer as its GPUs power server ecosystems, backed by strong data center growth.
SweetBunFactory/iStock via Getty Images I previously covered VanEck Semiconductor ETF ( SMH ) in January 2026, discussing its diversified exposure to the multi-year AI spending trends. In this article, I shall discuss why SMH remains a Great Buy upon a dip, thanks to its outsized exposure to AI winners. SMH Enjoys Winning Allocation Strategy SMH 1Y Stock Price (Trading View) Since my last Buy rati...
SweetBunFactory/iStock via Getty Images I previously covered VanEck Semiconductor ETF ( SMH ) in January 2026, discussing its diversified exposure to the multi-year AI spending trends. In this article, I shall discuss why SMH remains a Great Buy upon a dip, thanks to its outsized exposure to AI winners. SMH Enjoys Winning Allocation Strategy SMH 1Y Stock Price (Trading View) Since my last Buy rating, SMH has outperformed with a +19.5% price return compared to the wider market at +1.4%, with a similar development also observed in its semiconductor ETF peers in varying degrees. 1. SMH's Recent Performance Between my last and current article, the memory/storage sector has experienced a steep correction in the second half of March 2026, after " investors took profits after a historic run." Even then, Micron's ( MU ) V shaped stock price action at the time of writing underscores the resilient demand for memory offerings, as the early Q1'26 earnings season also reiterates the durability of the cloud spending trends . SMH's Holdings vs SOXX and XSD (SMH, SOXX, XSD) Beyond the wider semiconductor sector's recent pessimism, SMH continues to deliver outsized returns as well, thanks to its similarly outsized exposure to their top five holdings, including: the market leader of general AI accelerator chip - Nvidia ( NVDA ) at 18.77%, the world's largest foundry by market share - Taiwan Semiconductor Manufacturing Company Limited ( TSM ) at 11.28%, and the market leader of custom AI accelerator chip - Broadcom ( AVGO ) at 8.13%, along with the two market leaders of the x86 chips - Intel ( INTC ) at 5.32% and Advanced Micro Devices ( AMD ) at 4.98% of their holdings. Particularly, readers may want to note that SMH has been able to outperform with an excellent price return of +320.5% since the launch of ChatGPT by OpenAI on November 30, 2022, compared to the wider market at +77% and its semiconductor-focused ETF peers over the same time period, including: SPDR S&P Semiconductor ETF...
Key PointsPresident Donald Trump confirmed Iran's foreign minister's announcement that the Strait of Hormuz will reopen, though he said the U.S. naval blockade will remain in place.
Key PointsPresident Donald Trump confirmed Iran's foreign minister's announcement that the Strait of Hormuz will reopen, though he said the U.S. naval blockade will remain in place.
Jonathan Ferro, Lisa Abramowicz and Annmarie Hordern speak daily with leaders and decision makers from Wall Street to Washington and beyond. No other program better positions investors and executives for the trading day. (Source: Bloomberg)
Jonathan Ferro, Lisa Abramowicz and Annmarie Hordern speak daily with leaders and decision makers from Wall Street to Washington and beyond. No other program better positions investors and executives for the trading day. (Source: Bloomberg)
Roark Capital has picked banks to work on a US initial public offering of Inspire Brands , the owner of fast-food chains Dunkin’, Arby’s and Jimmy John’s, according to people familiar with the matter. The Atlanta-based company selected JPMorgan Chase & Co. and Bank of America Corp. for the listing, which could raise roughly $2 billion, the people said. An IPO could take place as soon as this year,...
Roark Capital has picked banks to work on a US initial public offering of Inspire Brands , the owner of fast-food chains Dunkin’, Arby’s and Jimmy John’s, according to people familiar with the matter. The Atlanta-based company selected JPMorgan Chase & Co. and Bank of America Corp. for the listing, which could raise roughly $2 billion, the people said. An IPO could take place as soon as this year, Bloomberg News has reported . Inspire Brands is also working with Barclays Plc , Goldman Sachs Group Inc. , and Morgan Stanley on the offering, the people said, asking not to be identified because the information is private. Deliberations are ongoing and details could change, the people said. Representatives for JPMorgan, Bank of America, Barclays, Goldman Sachs, and Morgan Stanley declined to comment. Representatives for Roark and Inspire Brands didn’t immediately respond to requests for comment. The company has been weighing a listing since at least 2024, and held discussions with potential advisers at that time, Bloomberg News has reported . Roark created Inspire in 2018 as an owner, operator and franchisor of a portfolio of restaurant brands. Its holdings also include Baskin-Robbins, Sonic Drive-In and Buffalo Wild Wings. In 2020, Inspire bought Dunkin’ Brands in an $11 billion take-private deal. The move to advance a potential public listing comes as investors and bankers ready for a rush of IPOs from companies owned by private equity firms this year as well as a potentially record-setting debut for Elon Musk ’s SpaceX . Madison Air Solutions Corp. raised $2.57 billion in the biggest US listing of an industrial firm in close to three decades this week. The company headlined what’s already made April the most active month since December with a handful of deals expected to price next week, data compiled by Bloomberg show. Companies in consumer-facing industries have been ramping up activity in recent months despite uncertainty over a potential slowdown in consumer spend...
April 20: U.S. tariff refund system goes live U.S. Customs will begin accepting applications for tariff refunds following a court ruling requiring the government to repay up to $170 billion to about 330,000 importers, plus interest. The move could ease cost pressures for businesses and affect trade flows. April 20-24: Hannover Messe opens in Germany The world’s largest industrial trade fair will s...
April 20: U.S. tariff refund system goes live U.S. Customs will begin accepting applications for tariff refunds following a court ruling requiring the government to repay up to $170 billion to about 330,000 importers, plus interest. The move could ease cost pressures for businesses and affect trade flows. April 20-24: Hannover Messe opens in Germany The world’s largest industrial trade fair will showcase advanced manufacturing and technology trends, offering a key gauge of global industrial recovery and supply chain shifts.
Tesla (NASDAQ:TSLA) stock is up 5% in Friday morning trading, and the story behind the move is crystal-clear. Tesla is set to report its Q1 2026 earnings on Wednesday, April 22, after market close, and Wall Street is positioning ahead of what could be a meaningful profit rebound. That anticipation is doing the heavy lifting ... Tesla Rallies 5% as Q1 Earnings Loom: A 33% Profit Surge Estimate Has ...
Tesla (NASDAQ:TSLA) stock is up 5% in Friday morning trading, and the story behind the move is crystal-clear. Tesla is set to report its Q1 2026 earnings on Wednesday, April 22, after market close, and Wall Street is positioning ahead of what could be a meaningful profit rebound. That anticipation is doing the heavy lifting ... Tesla Rallies 5% as Q1 Earnings Loom: A 33% Profit Surge Estimate Has Investors Watching Closely
Tatsuya Ozaki/iStock via Getty Images Portfolio Review Emerging markets equities were volatile in the first quarter. Emerging markets stocks were highly volatile in the first quarter amid broad investor concerns that included artificial intelligence (AI) risks, private credit issues and geopolitical events such as the U.S. military intervention in Venezuela and the Supreme Court's decision on Pres...
Tatsuya Ozaki/iStock via Getty Images Portfolio Review Emerging markets equities were volatile in the first quarter. Emerging markets stocks were highly volatile in the first quarter amid broad investor concerns that included artificial intelligence (AI) risks, private credit issues and geopolitical events such as the U.S. military intervention in Venezuela and the Supreme Court's decision on President Donald Trump's tariffs. Focus later shifted to the Middle East conflict, which spiked energy prices, leading to decreased risk appetite across asset classes. Global market leadership shifts. Market leadership shifted toward energy—oil, coal and shipping—and the broader new energy ecosystem, including electric vehicles, batteries and renewable energy sources, as investors favored selective growth proxies and defensive stocks. In contrast, metals, machinery and semiconductors lost momentum, with earnings proving insufficient to offset declining investor sentiment and valuation pressure. Positioning in information technology (IT) drove outperformance relative to the benchmark. Security selection within IT powered relative gains, as Unimicron Technology, a top overall contributor, benefited from high demand for advanced printed circuit boards and substrate technologies linked to AI needs. South Korea-based chipmaker Samsung Electronics and Taiwan-based precision testing systems maker Chroma ATE also boosted relative returns. Security selection in financials helped relative returns. Security selection in the financials sector contributed to relative returns, with a notable position in KIWOOM Securities. Our research indicated that shares of the South Korea-based financial services firm have been supported by exceptionally strong recent financial trends, with solid year-over-year growth in revenue and earnings, reinforcing our confidence in the firm's earnings trajectory into 2026. Consumer discretionary was a source of weakness. Security selection within consumer discretio...
Roland Magnusson/iStock Editorial via Getty Images Ericsson ( ERIC ) dropped 6% during Friday morning market action after its first quarter fiscal 2026 financial results fell short of market expectations. First-quarter sales revenue declined 10% year over year to total $5.41B, which was less than the consensus estimate of $5.53B. Earnings per share of $0.03 were also less than the $0.11 estimate. ...
Roland Magnusson/iStock Editorial via Getty Images Ericsson ( ERIC ) dropped 6% during Friday morning market action after its first quarter fiscal 2026 financial results fell short of market expectations. First-quarter sales revenue declined 10% year over year to total $5.41B, which was less than the consensus estimate of $5.53B. Earnings per share of $0.03 were also less than the $0.11 estimate. Net income tumbled 79% year over year to $99M from $460M in the same quarter one year prior. The steep decline was led by a $420M restructuring charge related to a significant headcount reduction in Sweden. Reported sales revenue in the Americas region declined 18% year over year. "Network sales declined in North America, primarily reflecting accelerated network investments in the prior-year period, in part due to tariff uncertainty, as well as a short-term reallocation of customer spend following mobile network operator consolidation announced last year," Ericsson said. "Cloud Software and Services sales increased, driven by timing of project deliverables in core networks as well as North America managed services growth." However, the company reported organic sales growth in its other market regions and total organic growth of 6%. "Our Q1 results demonstrate continued resilience in a dynamic environment, with organic sales growth of 6%," said Ericsson CEO Börje Ekholm. "Our healthy gross margins and strong cash flow reflect the progress we have made in recent years, reducing reliance on geographic mix and strengthening our foundations globally." "Our multi-year investments in building a resilient, diversified, supply chain have enabled us to deliver consistently for customers amidst geopolitical and macroeconomic uncertainties," he added. "We are facing increasing input costs, especially in semiconductors, caused in part by AI demand. Our ambition is to offset these challenges, by working closely with customers and suppliers, and through product substitution and efficiency...