Good morning . JD Vance will lead talks with Iran this weekend. Aldi and Lidl’s rivalry heats up in an unusual place. And helicopters are offering hikers a shortcut to the world’s most epic hikes. Listen to the day’s top stories . — Nasteho Said Market Snapshot S&P 500 futures 6,809.25 -0.2% WTI crude oil futures $97.96 +3.7% Market data as of 06:15 AM GMT. Data is subject to provider delays. US V...
Good morning . JD Vance will lead talks with Iran this weekend. Aldi and Lidl’s rivalry heats up in an unusual place. And helicopters are offering hikers a shortcut to the world’s most epic hikes. Listen to the day’s top stories . — Nasteho Said Market Snapshot S&P 500 futures 6,809.25 -0.2% WTI crude oil futures $97.96 +3.7% Market data as of 06:15 AM GMT. Data is subject to provider delays. US Vice President JD Vance will lead US-Iran talks in Islamabad this weekend, the White House said, even as fighting continues in the Middle East and Tehran claims the ceasefire has already been breached. Two Chinese oil tankers are approaching the Strait of Hormuz and may become the first non-Iranian vessels to transit under the fragile truce. Oil rebounded after posting its biggest drop since 2020 , while European futures were mixed and Asian stocks slipped. Bitcoin fell below $71,000. Follow our Markets Today live blog for all the latest news and analysis relevant to UK assets. More Mideast: The US asked European allies to provide concrete plans within days to help secure the Strait of Hormuz, which remains largely closed. Donald Trump said the US military will “remain in place” until an agreement is reached. Trump lashed out at NATO after meeting Secretary General Mark Rutte, accusing the alliance of not being there when the US needed it. When Will Shipping Resume in the Strait of Hormuz? Watch the video UK mortgage rates have climbed above 5% in March on concerns over the Middle East conflict, according to RICS, while homebuyer demand fell sharply to the lowest level since August 2023. Pimco is looking to sell a portion of the $14 billion of debt financing it’s providing for a massive Oracle data center in Michigan, according to people with knowledge of the matter. Meta Debuts First AI Model From New Superintelligence Group Deutsche Bank Declares China Energy ‘Winner’ in New Era of War Anthropic Completes Tender Offer, But Employees Hold Onto Shares Deep Dive: The Battle o...
German industrial production unexpectedly fell in February, casting doubt on a swift recovery in Europe’s largest economy even before the Iran war started. Output dropped 0.3% from January, with construction and consumer goods driving the decline. Economists surveyed by Bloomberg predicted a 1.3% increase. A separate report showed exports rose 3.6% in February and imports surged 4.7% — both exceed...
German industrial production unexpectedly fell in February, casting doubt on a swift recovery in Europe’s largest economy even before the Iran war started. Output dropped 0.3% from January, with construction and consumer goods driving the decline. Economists surveyed by Bloomberg predicted a 1.3% increase. A separate report showed exports rose 3.6% in February and imports surged 4.7% — both exceeding economists’ estimates by far. The figures offer little reassurance that Europe’s largest economy will deliver on expectations of a meaningful rebound. While a ceasefire in the Middle East is feeding hope that a further escalation of the crisis can be avoided, higher energy costs and uncertainty about longer-term solutions weigh on confidence and prospects for growth. Germany’s leading research institutes forecast an expansion of just 0.6% this year, they said last week, less than half the pace expected just a few months ago. “Recent surveys point to a slowdown in industrial activity in the second quarter amid heightened geopolitical uncertainty,” the Economy Ministry said in an emailed statement. “Future economic developments will therefore depend crucially on how the conflict in the Middle East unfolds.” Chemical makers including BASF SE and Lanxess AG were among the first to warn about the implications of the war that kept a key route for oil and gas shipments — the Strait of Hormuz — closed for more than five weeks. Lufthansa flagged potential bottlenecks for jet fuel availability and readied plans that could involve grounding planes. Whether that will still be necessary will depend largely on the two-week truce agreed by the US and Iran holding and ultimately evolving into a more lasting peace. German Chancellor Friedrich Merz welcomed the agreement on Tuesday, encouraged negotiations to prevent a “severe global energy crisis” and said the country is prepared to contribute to guaranteeing free passage through the strait. A gauge measuring economic sentiment publishe...
arsenisspyros/iStock via Getty Images Germany recorded a trade surplus of € 19.8B in February, above estimates of € 18.5B. In February 2026, German exports rose by 3.6% and imports by 4.7% compared to January 2026. More on Germany U.S. Tariffs: A New Trade War? EWG: Amid Fracturing Global Order, Germany Must Rise To The Occasion Europe markets rally to one-month high after U.S. and Iran agree to t...
arsenisspyros/iStock via Getty Images Germany recorded a trade surplus of € 19.8B in February, above estimates of € 18.5B. In February 2026, German exports rose by 3.6% and imports by 4.7% compared to January 2026. More on Germany U.S. Tariffs: A New Trade War? EWG: Amid Fracturing Global Order, Germany Must Rise To The Occasion Europe markets rally to one-month high after U.S. and Iran agree to two-week ceasefire European markets mixed as rising oil and war risks cloud outlook Seeking Alpha’s Quant Rating on iShares MSCI Germany ETF
Getty Images Cal-Maine Foods ( CALM ) sells eggs, and right now, eggs are getting cheaper . That's good for consumers but might not be good for Cal-Maine. So, Cal-Maine is going to sell more specialty eggs and make more processed food. That will increase the company's margins and stabilize its revenue. But because egg prices are down, Cal-Maine's recent results are still weak, and analysts have lo...
Getty Images Cal-Maine Foods ( CALM ) sells eggs, and right now, eggs are getting cheaper . That's good for consumers but might not be good for Cal-Maine. So, Cal-Maine is going to sell more specialty eggs and make more processed food. That will increase the company's margins and stabilize its revenue. But because egg prices are down, Cal-Maine's recent results are still weak, and analysts have low expectations for the company. Cal-Maine reported net sales of $667 million in fiscal Q3 2026 . Its total sales were down 53.0% because egg prices went down. But, while conventional egg sales were down 72.1%, volume was only down 6.7%. So consumers are still buying almost as many eggs; they're just paying less for them. Cal-Maine's specialty egg sales were down 12.1%, but volume was up 5.8%. And Cal-Maine's gross profit margin fell from 50.5% to 17.8% for the quarter, which is a huge swing. While Cal-Maine is a cyclical company, it's not clear if it's reached the bottom of the egg price cycle yet. Egg prices might still fall further. But Cal-Maine's management is good at long-term planning, so this situation has also created opportunities for the company. Cal-Maine is now buying back stock, and it's also buying other egg companies. And its latest acquisition might not be priced in. Cal-Maine Made an Acquisition Recently Cal-Maine just spent $128.5 million to buy Creighton Brothers. While Cal-Maine didn't provide detailed financial information for Creighton Brothers, Cal-Maine has a TTM EV/sales ratio of 0.73. So, if it bought Creighton Brothers at a similar valuation, I'd estimate that the deal added $176 million in annual revenue. It also sounds like the company's fiscal Q3 2026 results do not include the additional revenue from Creighton Brothers. In its report, Cal-Maine said, "Subsequent to third quarter, acquired certain assets of Creighton Brothers LLC and its affiliates, increasing integration across the value chain." Additionally, Cal-Maine might make more acquisit...
quantic69/iStock via Getty Images PSCE Overview The Invesco S&P SmallCap Energy ETF ( PSCE ) is a passively managed exchange-traded fund with a NAV of around $ 118MM that invests in small-cap U.S. energy companies across oil and gas. The point of this ETF is to provide cheap, passive exposure to the energy sector within the S&P SmallCap 600 Index. While this is a small fund with limited name recog...
quantic69/iStock via Getty Images PSCE Overview The Invesco S&P SmallCap Energy ETF ( PSCE ) is a passively managed exchange-traded fund with a NAV of around $ 118MM that invests in small-cap U.S. energy companies across oil and gas. The point of this ETF is to provide cheap, passive exposure to the energy sector within the S&P SmallCap 600 Index. While this is a small fund with limited name recognition relative to the likes of XLE or VDE, the current geopolitical environment makes it one of the more interesting energy plays available. Yesterday, a fragile two-week U.S.-Iran ceasefire was announced, sending oil prices sharply lower, but more confusion was broadcasted throughout the day, as Israel attacked Lebanon soon after the announcement . I think the ceasefire is worth fading for reasons I'll get into below, and PSCE is one of the cleaner ways to express that view without taking on single-name risk. The fund has done a good job this year, and I think the setup remains constructive. Fund Breakdown PSCE was launched on April 7, 2010 , by Invesco with a mandate to track the S&P SmallCap 600 Capped Energy Index. The fund simply buys and holds the index constituents rather than making a lot of active calls. The quarterly rebalance includes individual security caps at 22.5% and a 45% aggregate cap on names above 4.5% weight, which adds some reasonable concentration risk management. The fund's expense ratio is 0.29% , which is reasonable for a sector-specific ETF and isn't too bad compared to XLE at 0.08%, though XLE is dominated by ExxonMobil and Chevron and tells you a very different story than PSCE. With only 33 holdings , PSCE is a concentrated fund, and that's fine, because it means you get meaningful exposure to the most active names in the small-cap E&P space, rather than a diluted basket of 100+ companies. One limitation worth noting is the NAV of roughly $118MM and the modest daily volume—this is not a fund for institutional block trades, but for retail invest...
Oil rebounded after its biggest one-day drop since April 2020, as the Strait of Hormuz remained largely blocked and Israeli attacks on Lebanon threatened to derail the fragile ceasefire between the US and Iran. Bloomberg’s Anthony di Paola reports. (Source: Bloomberg)
Oil rebounded after its biggest one-day drop since April 2020, as the Strait of Hormuz remained largely blocked and Israeli attacks on Lebanon threatened to derail the fragile ceasefire between the US and Iran. Bloomberg’s Anthony di Paola reports. (Source: Bloomberg)
Many investors are considering whether NVIDIA's current share price reflects its underlying value, or whether expectations have moved ahead of what is realistic. The stock trades at US$182.08 after a 2.6% move over the last week, with a 1.5% decline over 30 days, a 3.6% decline year to date, and a 69.3% change over the past year. Recent headlines have continued to focus on NVIDIA's role in powerin...
Many investors are considering whether NVIDIA's current share price reflects its underlying value, or whether expectations have moved ahead of what is realistic. The stock trades at US$182.08 after a 2.6% move over the last week, with a 1.5% decline over 30 days, a 3.6% decline year to date, and a 69.3% change over the past year. Recent headlines have continued to focus on NVIDIA's role in powering AI, data center demand and broader chip supply discussions. This has kept the stock front and...
The average one-year price target for Joby Aviation, Inc. - Equity Warrant (NYSE:JOBY.WS) has been revised to $1.24 / share. This is a decrease of 47.59% from the prior estimate of $2.36 dated February 23, 2026. The price target is an average of many targets p
The average one-year price target for Joby Aviation, Inc. - Equity Warrant (NYSE:JOBY.WS) has been revised to $1.24 / share. This is a decrease of 47.59% from the prior estimate of $2.36 dated February 23, 2026. The price target is an average of many targets p
In recent months, Silicon Motion Technology has seen analysts lift earnings and revenue forecasts, supported by the company’s move into high-volume production of advanced PCIe NVMe SSD controllers, including a PCIe Gen5 part built on TSMC’s 6nm EUV process for higher performance and power efficiency. This combination of upgraded expectations, broader end-market reach across PCs, smartphones, autom...
In recent months, Silicon Motion Technology has seen analysts lift earnings and revenue forecasts, supported by the company’s move into high-volume production of advanced PCIe NVMe SSD controllers, including a PCIe Gen5 part built on TSMC’s 6nm EUV process for higher performance and power efficiency. This combination of upgraded expectations, broader end-market reach across PCs, smartphones, automotive, and IoT, and confidence reflected in brokerage ratings is reshaping how investors view...
China never fails to deliver strange, funny and almost unbelievable viral stories. Today, the SCMP offers a glimpse into some recent quirky moments, from a “haunted” flat that keeps getting resold, to a lift that stops at only one floor and a sushi conveyor belt hijacked by a “Mickey” mouse. Ghostly dwelling On April 1, a flat in Chengdu, Sichuan province in southwestern China, where there had bee...
China never fails to deliver strange, funny and almost unbelievable viral stories. Today, the SCMP offers a glimpse into some recent quirky moments, from a “haunted” flat that keeps getting resold, to a lift that stops at only one floor and a sushi conveyor belt hijacked by a “Mickey” mouse. Ghostly dwelling On April 1, a flat in Chengdu, Sichuan province in southwestern China, where there had been an unnatural death, was listed for auction for the third time, with bidding set to begin on April...
Zhejiang China Commodities City Group, operator of the marketplace that was once the epicentre of global consumer goods trading, is planning an initial public offering (IPO) in Hong Kong to support overseas expansion, as the wave of mainland Chinese firms looking to raise funds in the city continues. The state-owned company, which runs the Yiwu international trade market in east China’s Zhejiang p...
Zhejiang China Commodities City Group, operator of the marketplace that was once the epicentre of global consumer goods trading, is planning an initial public offering (IPO) in Hong Kong to support overseas expansion, as the wave of mainland Chinese firms looking to raise funds in the city continues. The state-owned company, which runs the Yiwu international trade market in east China’s Zhejiang province, said in a filing to the Shanghai Stock Exchange on Wednesday that a share sale in Hong Kong...