Within the last two weeks, we've witnessed the iconic Dow Jones Industrial Average (^DJI +0.58%), benchmark S&P 500 (^GSPC +0.37%), and artificial intelligence (AI)-driven Nasdaq Composite (^IXIC +0.19%) reach all-time highs. But the sustainability of this bull market rally is being firmly called into question by rapidly rising inflation. While the latest May inflation update from the Federal Rese...
Within the last two weeks, we've witnessed the iconic Dow Jones Industrial Average (^DJI +0.58%), benchmark S&P 500 (^GSPC +0.37%), and artificial intelligence (AI)-driven Nasdaq Composite (^IXIC +0.19%) reach all-time highs. But the sustainability of this bull market rally is being firmly called into question by rapidly rising inflation. While the latest May inflation update from the Federal Reserve offered the first glimmer of hope in weeks, the bad news continues to handily outweigh any silver linings for Wall Street. The Iran war is taking its toll Although now-former Fed Chair Jerome Powell repeatedly called out President Donald Trump's tariffs and their price stickiness in the goods sector for elevated inflation, the bulk of the inflationary pressures right now trace back to the Iran war. Since Trump gave the order for the U.S. military to attack Iran on Feb. 28, the latter has shut down the Strait of Hormuz to most commercial traffic. This includes halting the movement of approximately 20 million barrels of petroleum liquids per day (about 20% of worldwide demand). The largest energy supply disruption in modern history has sent crude oil prices soaring. Consumers are feeling the pinch every time they fuel up their cars, trucks, or SUVs, as gas prices have risen at the fastest pace in over three decades. But pain at the pump is just the first phase of an energy price shock. We're starting to see evidence of non-energy-driven inflation taking hold. Once the delayed inflationary effects of the Iran war hit businesses through higher transportation and production costs, the inflation rate can take another leg up. The Fed's newest May inflation forecast is a mixed bag for Wall Street If there's good news to share in the latest update from the Federal Reserve Bank of Cleveland's Inflation Nowcasting tool, it's that May's projected trailing 12-month (TTM) inflation rate is unchanged at 4.18%. While this would still be 38 basis points higher than reported TTM inflatio...
The torch has officially been passed. On May 15, Berkshire Hathaway NYSE: BRK.A released its first Form 13F under new CEO Greg Abel, marking the first time in more than 60 years that Warren Buffett’s name didn’t appear on the ledger. Abel’s tenure began when the 95-year-old Buffett officially stepped down on Jan. 1, and the new CEO’s first 13F reveals an equity book that’s slimming down and raisin...
The torch has officially been passed. On May 15, Berkshire Hathaway NYSE: BRK.A released its first Form 13F under new CEO Greg Abel, marking the first time in more than 60 years that Warren Buffett’s name didn’t appear on the ledger. Abel’s tenure began when the 95-year-old Buffett officially stepped down on Jan. 1, and the new CEO’s first 13F reveals an equity book that’s slimming down and raising cash. Berkshire fully exited 16 different positions totaling $8.1 billion, its largest net equity sale since Q3 2024. Is this a continuation of Buffett’s value-centric approach, or a new CEO flexing muscle? A few hints emerge when breaking down the filing. Get Visa alerts: Sign Up What Greg Abel’s First Quarter as CEO Says About Berkshire’s Strategy In many ways, Abel’s first 13F revealed that Berkshire remains as focused as ever on patiently waiting for bargains. The company’s equity book now holds just 26 stocks, down from over 40 last year, and its cash position sits at a record $397 billion. A few points stand out: Higher Concentration : Abel’s equity book is smaller and full of high-conviction bets, including moving Alphabet Inc. NASDAQ: GOOGL into a top seven position. Buffett was famous for avoiding expensive tech stocks, so this shows Abel is more willing to swing big when he sees an opportunity, even if it goes against traditional value metrics. Value Still Overwhelming Focus : Abel deployed capital into multiple beaten-down stocks trading at discounts to their average value, including Delta Air Lines Inc. NYSE: DAL and Macy’s Inc. NYSE: M. Investments like these show that valuation is still the backbone of the Berkshire portfolio. Unwinding the Combs Book: One of Berkshire’s top investors, Todd Combs, left for JPMorgan late last year, and many of the positions closed out in Q1 had been opened by him. Closing out Combs’ book was clearly a priority for Abel, who now controls more than 90% of Berkshire’s trading. Analyzing 3 Berkshire Stock Sales From the Latest 13...
Investors have piled into pharma and biotech companies involved in the obesity drug space in recent years -- and for good reason. The market is on track to reach nearly $100 billion by the end of the decade. Meanwhile, we've seen plenty of evidence supporting this growth forecast, from high demand for currently commercialized obesity drugs to blockbuster revenue. Today, Eli Lilly and Novo Nordisk ...
Investors have piled into pharma and biotech companies involved in the obesity drug space in recent years -- and for good reason. The market is on track to reach nearly $100 billion by the end of the decade. Meanwhile, we've seen plenty of evidence supporting this growth forecast, from high demand for currently commercialized obesity drugs to blockbuster revenue. Today, Eli Lilly and Novo Nordisk dominate the market with their weight loss drugs, but these aren't the only companies that may score a win for investors. Many other drugmakers are studying candidates in clinical trials and could join this high-growth market down the road. Before that happens, they might announce trial results and other progress that could spur investor optimism and result in big gains for their stock prices. In fact, my prediction is that these two obesity drug stocks could double in 2026. Let's check them out. 1. Viking Therapeutics Viking Therapeutics (VKTX +0.68%) is a clinical-stage biotech specializing in treatment for metabolic diseases, so it's perfectly positioned to work in the weight loss space. The candidate everyone has been watching is VK-2735, a dual GLP-1/GIP receptor agonist that works in much the same way as the Lilly and Novo drugs. The GLP-1 class of drugs stimulates hormonal pathways involved in processes such as managing blood sugar levels and appetite. Lilly and Novo have sold injectable formulations for the past several years, and just recently, they both won approval for oral drugs. Expand NASDAQ : VKTX Viking Therapeutics Today's Change ( 0.68 %) $ 0.21 Current Price $ 30.89 Key Data Points Market Cap $3.6B Day's Range $ 30.29 - $ 30.92 52wk Range $ 22.96 - $ 43.15 Volume 1.3K Avg Vol 2.3M Viking is investigating its injectable version of VK-2735 in phase 3 trials, and it aims to launch a phase 3 trial for the oral format later this year. So far, results from earlier trials have been promising, suggesting this drug could find its place in the market and generate s...
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Alphabet's (GOOG, GOOGL) Google is on the verge of receiving a record European Union penalty for all Upgrade to read this MT Newswires article and get so much more. A Silver or Gold subscription plan is required to access premium news articles.
The first major heat wave of the season broke temperature records across northwest Europe, triggered water shortages in the UK and has been linked to several deaths in France. Scorching temperatures from the heat wave, driven by a persistent high-pressure heat dome, are expected to continue through Tuesday before easing Wednesday, according to meteorologists and weather models. Daytime highs in Lo...
The first major heat wave of the season broke temperature records across northwest Europe, triggered water shortages in the UK and has been linked to several deaths in France. Scorching temperatures from the heat wave, driven by a persistent high-pressure heat dome, are expected to continue through Tuesday before easing Wednesday, according to meteorologists and weather models. Daytime highs in London and Paris could reach 35C and 33C on Tuesday, according to the UK Met Office and Météo-France. Over the weekend, increased water demand triggered system failures that left about 800 households in Kent and Sussex without water or low pressure. In France, the heat wave has been linked to at least seven deaths, government spokeswoman Maud Bregeon said Tuesday on TF1 television. At least five people died from drowning, while others died from heat-related causes during sporting events, she said. Amber alerts for high temperatures are in effect for western Spain and similar alerts are active for parts of the UK, including London, east and southeast England, and the Midlands.
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ING Groep NV is turning to “vibe coding” to build electronic trading tools for currencies and credit, its latest use of artificial intelligence to compete with larger peers. “ Vibe coding ” — telling AI what you want to create so it can do so, rather than coding manually — is compressing work into hours that may have taken a team of developers weeks, said Simon Bevan , its global head of electroni...
ING Groep NV is turning to “vibe coding” to build electronic trading tools for currencies and credit, its latest use of artificial intelligence to compete with larger peers. “ Vibe coding ” — telling AI what you want to create so it can do so, rather than coding manually — is compressing work into hours that may have taken a team of developers weeks, said Simon Bevan , its global head of electronic trading. Recently the Dutch lender has used it to create analytics dashboards to show real time pricing, incoming trades and performance metrics. “We recently used vibe coding quite significantly to build an entire credit e-trading system,” Bevan said in an interview. The firm uses external models and has found the most success with Anthropic PBC , he said. With fewer resources than some global rivals, ING is doubling down on technology to win more business, and Bevan credits an in-house AI currency pricing model for an initial 50% increase in big-ticket trades. Yet it could be a bold bet to increase its reliance on AI in a division overseeing “tens of billions of dollars” of trading a day, in case of flawed output or unforeseen behavior. “We’ve also started to use it in actual trading systems where that has a lot more risk,” he said. Rapid developments in AI are reshaping the financial industry and risk creating winners and losers, depending who can best leverage technology. While many banks have been vocal about the benefits for their back and middle offices to save costs , there’s been less said on the impact for front office trading, often the profit center. Read more: Bank CEOs’ AI Obsession Collides With Warning From Watchdogs The race to automate can come with hefty costs and it may be harder for smaller players to fund the kind of computing power needed to stay competitive. XTX Markets , a quantitative-trading firm that has no human traders, last year invested more than €1 billion ($1.2 billion) building five data centers in Finland to underpin its growing use of ...
Please turn on JavaScript to use this feature Please turn on JavaScript to use this feature 13m ago 09.01 BST 'Unprecedented event with 1/1000 chance of happening' as record-breaking heatwave hits Europe Jon Henley in Paris and Sam Jones in Madrid More than 350 French towns have recorded their highest-ever temperatures for May as France and the UK set national heat records amid an extreme early-su...
Please turn on JavaScript to use this feature Please turn on JavaScript to use this feature 13m ago 09.01 BST 'Unprecedented event with 1/1000 chance of happening' as record-breaking heatwave hits Europe Jon Henley in Paris and Sam Jones in Madrid More than 350 French towns have recorded their highest-ever temperatures for May as France and the UK set national heat records amid an extreme early-summer heat event that could see the mercury rise to 40C in parts of Spain by the end of the week. View image in fullscreen People refill their water bottles at the Jardin des Tuileries garden during a heatwave in Paris, France. Photograph: Adnan Farzat/NurPhoto/Shutterstock The UK’s Met Office said the country’s all-time record for May was broken when a temperature of 34.8C was recorded at London’s Kew Gardens. Météo France said late on Monday that new monthly highs for May had been recorded at 352 weather stations mainly in western France, with the highest – 37.1C – registered near Hossegor, in the south-western department of Landes. “This is an unprecedented event with a one in 1,000 chance of happening at this time of year based on the climate from 1979 to 2025 and virtually impossible in the preindustrial era,” Christophe Cassou, a climate scientist, told Le Monde. More new highs are likely to be set in France, Spain and the UK, forecasters said, with temperatures exceeding norms by 12C or 13C in what Météo France described as a “premature, remarkable and long” heat episode expected to last several more days.