primeimages/E+ via Getty Images Key takeaways The fund outperformed its benchmark Invesco Developing Markets Fund Class A ( ODMAX ) shares at net asset value outperformed the MSCI EM Index in the first quarter of 2026. Stock selection in energy was the largest contributor to relative return. Greater focus on real assets Investors appear to be navigating three forces: the artificial intelligence (A...
primeimages/E+ via Getty Images Key takeaways The fund outperformed its benchmark Invesco Developing Markets Fund Class A ( ODMAX ) shares at net asset value outperformed the MSCI EM Index in the first quarter of 2026. Stock selection in energy was the largest contributor to relative return. Greater focus on real assets Investors appear to be navigating three forces: the artificial intelligence (AI) investment cycle, renewed focus on physical over intangible assets, and geopolitical risk. Energy, mining and infrastructure are underinvested areas that appear attractive from a capital-cycle perspective. Geopolitics dominated market sentiment War in Iran and the broader Middle East appeared to lead to gyrating markets. While geopolitical risks have persisted, many emerging market companies appear to maintain strong balance sheets and competitive advantages, suggesting, in our view, resilience that is not fully reflected in current valuations. Investment objective The fund seeks long-term growth of capital. Fund facts Fund AUM ($M) 8,308.23 Click to enlarge Portfolio managers Charles Bond, Ian Hargreaves, Matthew Pigott, William Lam Manager perspective and outlook Emerging market equities returned -0.17% in the first quarter of 2026, notably outperforming developed markets as the MSCI EAFE Index returned -1.12% and the US S&P 500 Index returned -4.33% amid a challenging global equity environment. Geopolitical developments, particularly in Iran and the broader Middle East, appeared to add a layer of complexity for emerging market investors. The Strait of Hormuz has remained a critical conduit for global energy flows, especially to Asia, and ongoing tensions had implications for energy prices. While higher oil prices historically tend to support net energy exporters within the emerging market universe, they represent potential inflationary pressures and growth headwinds for energy-importing Asian economies. The global oil market's shift from perceived oversupply to tighte...
Amazon (AMZN) stock hasn’t moved much so far in 2026. Much of the hesitation surrounding the stock stems from investor concerns about the company’s significant capital expenditures, particularly its aggressive spending on artificial intelligence (AI) infrastructure and data centers. Despite these concerns, however, Wall Street remains optimistic about AMZN stock. Analysts continue to maintain a “S...
Amazon (AMZN) stock hasn’t moved much so far in 2026. Much of the hesitation surrounding the stock stems from investor concerns about the company’s significant capital expenditures, particularly its aggressive spending on artificial intelligence (AI) infrastructure and data centers. Despite these concerns, however, Wall Street remains optimistic about AMZN stock. Analysts continue to maintain a “Strong Buy” consensus rating on Amazon. Furthermore, the highest price target for AMZN stock is $370, indicating roughly 40% potential upside from its recent May 20 closing price of $265.01. With businesses like its Amazon Web Services (AWS) cloud division, AI, and advertising firing on all cylinders, AMZN stock could surge higher. AWS Positions Amazon for Solid Growth Amazon delivered a strong first quarter, led by accelerating growth in AWS. The cloud segment generated $37.6 billion in revenue, up 28% year-over-year (YOY). Moreover, the growth rate accelerated from 24% in the previous quarter. Growth was driven by increasing demand for both traditional cloud infrastructure and AI services. More enterprises are shifting workloads to the cloud while expanding their use of AWS’s computing and storage capabilities. At the same time, companies investing heavily in AI are turning to AWS to power and scale those applications. Management highlighted that higher AI spending is also boosting demand for AWS’s core cloud services, creating a positive cycle of growth across the platform. Amazon noted that many AI deployments are still in their early stages. As customers move these projects into full-scale production, AWS is expected to see even stronger demand. The company added that its AI-related revenue is currently growing at a triple-digit YOY rate, reflecting rapid adoption of its AI infrastructure and tools. AWS’s long-term outlook is also supported by its growing backlog of contracted business. At the end of the quarter, AWS reported a backlog of $364 billion, providing strong ...
Shares of Walmart (NYSE:WMT) are down 7% in midday trading Thursday, a striking move for a defensive mega-cap that just reported quarterly results before the open. The reaction has dragged on peers, though not uniformly. Costco Wholesale (NASDAQ:COST) is off 2%, while Target (NYSE:TGT) is actually bouncing 2% after its own sharp drop on Wednesday. ... Walmart Is Getting Slammed Today. Should You S...
Shares of Walmart (NYSE:WMT) are down 7% in midday trading Thursday, a striking move for a defensive mega-cap that just reported quarterly results before the open. The reaction has dragged on peers, though not uniformly. Costco Wholesale (NASDAQ:COST) is off 2%, while Target (NYSE:TGT) is actually bouncing 2% after its own sharp drop on Wednesday. ... Walmart Is Getting Slammed Today. Should You Sell WMT Stock Along With Target and Costco?
(RTTNews) - Mortgage finance company Freddie Mac (FMCC) on Thursday said mortgage rates, or interest rates on home loans, increased this week. The 30-year FRM averaged 6.51% as of May 21, 2026, up from last week when it averaged 6.36%. A year ago at this time, the 30-year FRM averaged 6.86%. The 15-year FRM averaged 5.85%, up from last week when it averaged 5.71%. A year ago at this time, the 15-y...
(RTTNews) - Mortgage finance company Freddie Mac (FMCC) on Thursday said mortgage rates, or interest rates on home loans, increased this week. The 30-year FRM averaged 6.51% as of May 21, 2026, up from last week when it averaged 6.36%. A year ago at this time, the 30-year FRM averaged 6.86%. The 15-year FRM averaged 5.85%, up from last week when it averaged 5.71%. A year ago at this time, the 15-year FRM averaged 6.01%. "The 30-year fixed-rate mortgage averaged 6.51% this week," said Sam Khater, Freddie Mac's Chief Economist. "As rates fluctuate, aspiring buyers should remember that by shopping around for the best mortgage rate and getting multiple quotes, they can potentially save thousands." The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Kenneth Cheung/iStock Unreleased via Getty Images Here's a fact that might surprise you: Over the last 75 weeks, the share price of Meta ( META ) is down . Of course, this is a little bit of a cherry-picked number, but it illustrates something I find surprising—that shares of Meta are largely flat since late 2024, even as the company (by many objective metrics) has been firing on all cylinders. In...
Kenneth Cheung/iStock Unreleased via Getty Images Here's a fact that might surprise you: Over the last 75 weeks, the share price of Meta ( META ) is down . Of course, this is a little bit of a cherry-picked number, but it illustrates something I find surprising—that shares of Meta are largely flat since late 2024, even as the company (by many objective metrics) has been firing on all cylinders. In Q1, Meta produced top-line revenue growth of 33% year-over-year, as increasing usage and a favorable pricing environment for ads have lifted the company's fortunes. At the same time, reduced headcount and high, stable gross margins have kept the margin profile healthy, even as the company spends hundreds of billions on data center capex. Yet, somehow, shareholders have lost money over the last year and a half: Author Calculation & FMP Data What's going on here? Today, I wanted to take a deeper look at Meta, update my thesis on the stock given the blowout Q1 earnings report, and make the case that Meta's stock should top $1,000 per share over the next ~30 months. Sound good? Let's dive in. Financials As I just mentioned, there's a bit of tension going on in Meta right now—between the company's underlying business results, which have been fantastic, vs. the company's share price, which has traded largely flat since the fall of 2024. Why is this? Let's start with the financials. As I mentioned, in Q1 of 2026, Meta released its quarterly report, and the numbers were fantastic—at least in my view. Quarterly top-line year-over-year growth came in at 33%, reaching a five-year record, while operating margins stayed stable in the low 40% range: Author Calculation & FMP Data Author Calculation & FMP Data From a nominal standpoint, it's rare to find a company accelerating top-line growth when it's already at a mature stage. It's much more typical to see fast growth when the numbers are small, and then, as revenue increases, the business opportunity saturates and growth slows down. Th...
Kenneth Cheung/iStock Unreleased via Getty Images Here's a fact that might surprise you: Over the last 75 weeks, the share price of Meta ( META ) is down . Of course, this is a little bit of a cherry-picked number, but it illustrates something I find surprising—that shares of Meta are largely flat since late 2024, even as the company (by many objective metrics) has been firing on all cylinders. In...
Kenneth Cheung/iStock Unreleased via Getty Images Here's a fact that might surprise you: Over the last 75 weeks, the share price of Meta ( META ) is down . Of course, this is a little bit of a cherry-picked number, but it illustrates something I find surprising—that shares of Meta are largely flat since late 2024, even as the company (by many objective metrics) has been firing on all cylinders. In Q1, Meta produced top-line revenue growth of 33% year-over-year, as increasing usage and a favorable pricing environment for ads have lifted the company's fortunes. At the same time, reduced headcount and high, stable gross margins have kept the margin profile healthy, even as the company spends hundreds of billions on data center capex. Yet, somehow, shareholders have lost money over the last year and a half: Author Calculation & FMP Data What's going on here? Today, I wanted to take a deeper look at Meta, update my thesis on the stock given the blowout Q1 earnings report, and make the case that Meta's stock should top $1,000 per share over the next ~30 months. Sound good? Let's dive in. Financials As I just mentioned, there's a bit of tension going on in Meta right now—between the company's underlying business results, which have been fantastic, vs. the company's share price, which has traded largely flat since the fall of 2024. Why is this? Let's start with the financials. As I mentioned, in Q1 of 2026, Meta released its quarterly report, and the numbers were fantastic—at least in my view. Quarterly top-line year-over-year growth came in at 33%, reaching a five-year record, while operating margins stayed stable in the low 40% range: Author Calculation & FMP Data Author Calculation & FMP Data From a nominal standpoint, it's rare to find a company accelerating top-line growth when it's already at a mature stage. It's much more typical to see fast growth when the numbers are small, and then, as revenue increases, the business opportunity saturates and growth slows down. Th...
Before we get to doping and psychedelics, arguably the most controversial man in sport is discussing how he came to own the largest triceratops skull ever discovered. And how he plans to install it in his London apartment. So how much did you pay for it, I ask Christian Angermayer, the German billionaire who has made fortunes from biotech, bitcoin and psychedelics and now intends to do the same ag...
Before we get to doping and psychedelics, arguably the most controversial man in sport is discussing how he came to own the largest triceratops skull ever discovered. And how he plans to install it in his London apartment. So how much did you pay for it, I ask Christian Angermayer, the German billionaire who has made fortunes from biotech, bitcoin and psychedelics and now intends to do the same again using – and many believe abusing – sport. “Not a lot, because I find them.” What personally? “I have bounty hunters who do that,” he replies. “I really don’t want to say what my costs are. But I also have a T-rex. And I don’t know where to put it, so I am going to sell it for around $40m.” And the triceratops head? “It’s in London. I’m actually getting it put in my apartment. You need to come by. It’s a complete nightmare to insure it, and it needs a crane to get in, but it’s so spectacular.” Incredibly, this is not even Angermayer’s most audacious plan. Because the dinosaur hunter believes he has unearthed fresh treasure in the dirt with his next project: the Enhanced Games. Critics have dubbed it the Steroid Olympics. According to an Enhanced Games study, based on 36 of the 42 athletes who will compete this weekend, all but two will have taken performance-enhancing drugs banned by anti-doping authorities. Enhanced says that 91% are using testosterone, 79% human growth hormone, 41% EPO and 29% anabolic steroids. It’s a concept that continues to shock and appal the sporting world. Angermayer, though, is convinced it represents the future. His bet is that Sunday’s inaugural event, which features the 100m sprint, various swimming races and weightlifting events will be watched by millions of people, young and old, male and female, Republican and Democrat. And he believes that many will, for the first time, start to think about spending $209 on testosterone cream to make them feel younger. Or $119 on GHK-Cu Copper, the peptide behind collagen, elasticity and real skin quali...
(RTTNews) - Treasuries came under pressure early in the session on Thursday but regained ground over the course of the trading day. Bond prices climbed well off their worst levels and briefly turned positive but ended the day modestly lower. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, inched up by 1.8 basis points to 4.284 percent. The ten-year yield ...
(RTTNews) - Treasuries came under pressure early in the session on Thursday but regained ground over the course of the trading day. Bond prices climbed well off their worst levels and briefly turned positive but ended the day modestly lower. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, inched up by 1.8 basis points to 4.284 percent. The ten-year yield rebounded after edging slightly lower over the two previous sessions, reaching a new three-month closing high. The early pullback by treasuries came after the Labor Department released a report showing an unexpected decline by first-time claims for U.S. unemployment benefits in the week ended October 26th. The report said initial jobless claims fell to 216,000, a decrease of 12,000 from the previous week's revised level of 228,000. Economists had expected jobless claims to inch up to 230,000 from the 227,000 originally reported for the previous week. With the unexpected decrease, jobless claims dropped to their lowest level since hitting a matching figure in the week ended May 18th. Traders were also reacting to closely watched consumer price inflation data that largely came in line with economist estimates. The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.2 percent in September and the annual rate of growth slowed to 2.1 percent, which both matched expectations. However, the annual rate of growth by the core PCE price index, which excludes food and energy prices, was unchanged from the previous month at 2.7 percent. Economists had expected the pace of growth to slow to 2.6 percent. The slightly faster than expected core price growth may have added to recent concerns the Federal Reserve will lower interest rates more slowly than hoped. Selling pressure waned over the course of the session, however, as traders looked ahead to the Labor Department's closely watched monthly jobs report on Friday. Economists currently expect employm...
J Studios/DigitalVision via Getty Images Market Review High-yield bonds declined. High-yield bonds declined fractionally for the quarter. The high-yield market started the year on an optimistic tone, supported by solid economic data. But sentiment reversed course in February and March. Worries about artificial intelligence (AI) encroachment in the software sector, private credit outflows and the I...
J Studios/DigitalVision via Getty Images Market Review High-yield bonds declined. High-yield bonds declined fractionally for the quarter. The high-yield market started the year on an optimistic tone, supported by solid economic data. But sentiment reversed course in February and March. Worries about artificial intelligence (AI) encroachment in the software sector, private credit outflows and the Iran war weighed on the market. Private credit worries surfaced. Mounting risks in the private credit market, including rising default estimates, triggered worries about spillover into public credit markets. However, most bank exposure to private credit is senior and overcollateralized. Therefore, while this issue continues to evolve, we don't expect substantial contagion from private credit to the broader risk markets. Fed left rates unchanged. The Federal Reserve's (Fed's) dual focus on inflation, which remained above target, and the labor market, which stabilized, resulted in rates staying unchanged in the quarter. The target short-term lending rate remained 3.5% to 3.75%. Amid growing uncertainty regarding the economy, inflation and geopolitics, the Fed and the market tempered expectations for future rate cuts. Treasury yields rose. The war and rising energy prices pressured Treasury yields late in the quarter. Rising inflation expectations, fears that central banks would turn more hawkish and expectations for fiscal spending hikes due to the war drove yields higher. The two-year Treasury yield ended March at 3.81%, while the yield on the 10-year Treasury rose to 4.31%. Credit spreads widened. High-yield credit spreads widened, but the movement was fairly muted. This was largely due to robust U.S. oil and gas production, which provided some relative insulation from rising global energy prices. Also, positive U.S. economic forces, including tax cuts, helped mitigate the effects of higher energy costs. Portfolio Performance Review Financing companies, retailer detracted. P...
wen ya/E+ via Getty Images My algorithm keeps on catching SSR Mining Inc. ( SSRM ) for the past few months. And it looks interesting, because I like the setup that I am seeing right now. The company after the Çöpler sale is becoming cleaner and a little more understandable for investors. Instead of having Turkey risk and one big problem, we now see that it is a more Americas-focused gold and silve...
wen ya/E+ via Getty Images My algorithm keeps on catching SSR Mining Inc. ( SSRM ) for the past few months. And it looks interesting, because I like the setup that I am seeing right now. The company after the Çöpler sale is becoming cleaner and a little more understandable for investors. Instead of having Turkey risk and one big problem, we now see that it is a more Americas-focused gold and silver producer, which is generating real cash flow, and I believe has capabilities to bring shareholder value. While I have mentioned that the stock is always appearing in my list, I have to admit that it appears on the momentum side. I believe that the market saw that this is no longer a broken business and started re-rating. Company Overview I would like to begin by telling first-time readers and followers about this company. SSR Mining is a medium-sized gold and silver producer, which, after selling one asset, is changing its investment profile. Before selling the mentioned asset (Çöpler), the company was pressured by one incident. I believe due to this, their good assets were also valued through the same big overhang. Now, we can say that situation has changed. SSRM is becoming more focused on the Americas, and their main assets now are Marigold and Cripple Creek & Victor USA, Seabee in Canada, and Puna in Argentina. I believe that the thesis should not be built on how much gold or silver the company produces. The most important part is that the portfolio is becoming cleaner, and it is easier to evaluate the potential (see my valuation section below). Çöpler For me, the most important thing while building this thesis is this asset. Yes, gold prices ( XAUUSD:CUR ) are also strong, but that can change quite fast and does not rely on the company alone. I believe that selling this asset helped with the risk profile, which is now changed a bit. After the incident, it was hard for me to truly evaluate it as a normal gold miner. I believe that investors did not see other assets bu...
Pascal Le Segretain/Getty Images News A French appeals court on Thursday found Airbus ( EADSF ) ( EADSY ) and Air France ( AFRAF ) ( AFLYY ) guilty of corporate manslaughter in connection with the 2009 crash of Air France Flight 447, overturning an earlier acquittal and reigniting a legal fight that has stretched for 17 years. The Airbus A330 crashed into the Atlantic Ocean during a storm while fl...
Pascal Le Segretain/Getty Images News A French appeals court on Thursday found Airbus ( EADSF ) ( EADSY ) and Air France ( AFRAF ) ( AFLYY ) guilty of corporate manslaughter in connection with the 2009 crash of Air France Flight 447, overturning an earlier acquittal and reigniting a legal fight that has stretched for 17 years. The Airbus A330 crashed into the Atlantic Ocean during a storm while flying from Rio de Janeiro to Paris, killing all 228 people aboard. Families of the victims, many from France, Brazil and Germany, listened quietly as the court delivered its ruling. The court ordered both companies to pay the maximum fine of €225,000 ($261,450). While the penalties were widely viewed as symbolic given the size of the companies, relatives said the verdict was more about accountability than money. Airbus and Air France said they would appeal to France’s highest court, setting the stage for more years of legal battles despite calls from victims’ families to end the case. The disaster has long exposed disagreements over what caused the crash. French investigators concluded the pilots lost control of the aircraft after iced-over sensors produced faulty speed readings, causing the jet to stall. Prosecutors argued the crash also reflected broader failures by both companies, including inadequate pilot training and insufficient responses to earlier sensor problems. The ruling marked a reversal from a 2023 decision that cleared Airbus and Air France of criminal responsibility. More on Airbus SE, Air France-KLM SA Air France-KLM SA 2026 Q1 - Results - Earnings Call Presentation Air France-KLM SA (AFLYY) Q1 2026 Earnings Call Transcript Airbus SE (EADSY) Q1 2026 Earnings Call Transcript Airbus is said to face fresh A350 delivery delays with struggling North Carolina factory Airbus is said to tighten spending as supply chain strains pressure jetliner business
WASP-94A b is a hot, tidally locked gas giant orbiting close to one of the stars in a binary system roughly 690 light-years away from Earth. In a new Science study, scientists led by Sagnick Mukherjee, an astrophysicist at Johns Hopkins University, used the James Webb Space Telescope to learn what the weather looks like out there. Tidal locking means that you no longer have day- and night-side tem...
WASP-94A b is a hot, tidally locked gas giant orbiting close to one of the stars in a binary system roughly 690 light-years away from Earth. In a new Science study, scientists led by Sagnick Mukherjee, an astrophysicist at Johns Hopkins University, used the James Webb Space Telescope to learn what the weather looks like out there. Tidal locking means that you no longer have day- and night-side temperature differences sweeping across the planet. “We wanted to understand the atmospheres of such planets,” Mukherjee says. “Are they static or dynamic? Do they have winds? Do they have clouds?” His team found that, on WASP-94A b, it’s cloudy in the morning, but the skies clear in the evening. The fact that we didn’t know this already means we might have gotten the chemistry of this and many other exoplanets surprisingly wrong. Averaged atmospheres WASP-94A b has mass slightly below half of Jupiter but has a diameter that’s over 70 percent wider. “This means the planet has low density, and its atmosphere extends further out into space, which makes it easier to observe,” Mukherjee explains. When astronomers study atmospheres like this, they usually rely on transmission spectroscopy. By analyzing the spectrum of light filtering through the planet’s atmosphere as it crosses in front of its star, they can figure out its chemical composition. Read full article Comments
SpaceX’s AI division, which houses the Grok platform, generated $818 million of revenue in its last quarter, resulting in an operating loss of $2.47 billion.
SpaceX’s AI division, which houses the Grok platform, generated $818 million of revenue in its last quarter, resulting in an operating loss of $2.47 billion.
Alec Segaert stole a march to win stage 12 of the Giro d’Italia on Thursday and his Bahrain Victorious teammate Afonso Eulálio snatched bonus seconds in the intermediate sprint to extend his overall lead. The 175-km ride from Imperia to Novi Ligure looked to be headed for a sprint finish before the Belgian rider Segaert made his telling move 3km from the line and held off the chasing pack to take ...
Alec Segaert stole a march to win stage 12 of the Giro d’Italia on Thursday and his Bahrain Victorious teammate Afonso Eulálio snatched bonus seconds in the intermediate sprint to extend his overall lead. The 175-km ride from Imperia to Novi Ligure looked to be headed for a sprint finish before the Belgian rider Segaert made his telling move 3km from the line and held off the chasing pack to take the win on his Giro debut. His compatriot Toon Aerts, of the Lotto-Intermarche team, won the dash for second ahead of the one-time race leader Guillermo Thomas Silva (XDS Astana Team). Asked afterwards when he thought about making his attack, Segaert said: “I would say yesterday evening. I had it always in mind, I was really happy with how the race was going, a hard pace on the climb and then teammates of the sprinters who were left had to ride hard and this was my chance to go in the final when they were all on the limit.“ Portugal’s Eulálio put an extra six seconds between himself and the favourite, Jonas Vingegaard, with the Dane now 33 seconds off the pink jersey. Johan Jacobs attacked from the start, and while his breakaway companions changed several times, the Swiss rider was still two minutes ahead of the peloton after 100km as the race reached the first of the day’s two climbs. Movistar, yet to win a stage in this year’s Giro, began to drive the main bunch once they hit the ascent and the leaders were reeled in as they reached the top of Colle Giovo. Several riders were dropped on the second climb, with Movistar working hard at the front for Orluis Aular, who finished second to Jhonatan Narváez on stage four, and his teammate Enric Mas also lost out to the Ecuadorian on Wednesday. Those dropped by the peloton included the points classification leader, Paul Magnier, and the Italian Jonathan Milan, and despite the sprint rivals working together to bridge the gap, they realised their race was done for the day. Eulaáio was first to surprise the bunch at the intermediate...
Starbucks ( SBUX ) halted use of a new AI-powered inventory tool across North America after store workers reported persistent glitches that worsened, rather than solved, stocking problems. The AI-powered system was rolled out to more than 11K company-operated stores to automate counting of items such as milks, syrups, and toppings using tablets equipped with computer-vision technology. The intent ...
Starbucks ( SBUX ) halted use of a new AI-powered inventory tool across North America after store workers reported persistent glitches that worsened, rather than solved, stocking problems. The AI-powered system was rolled out to more than 11K company-operated stores to automate counting of items such as milks, syrups, and toppings using tablets equipped with computer-vision technology. The intent was to replace manual counts, speed up inventory work, and improve product availability as part of an AI-focused supply chain overhaul pushed by CEO Brian Niccol. However, baristas and managers told Reuters that the tool frequently misread shelves, confused similar products, and sometimes failed to recognize items at all, contributing to both shortages and cases of shipping too much. In response to the operational issues, Starbucks ( SBUX ) is reverting to alternative processes to the AI counter while it works on broader technology upgrades. The Seattle-based company still sees AI-capable platforms as being central to its plan to fix stockouts and says other modernization efforts are already improving reliability. More on Starbucks Starbucks: The Comeback Has Started But The Growth Story Is Not Proven Starbucks Earnings: Fully Caffeinated? Starbucks: This Undefeatable Coffee Champion Has Been Judged Beyond Logic Starbucks Korea chief fired after controversial marketing campaign sparks backlash Starbucks upsizes debt buyback cap to $1.3B
Love Employee/iStock via Getty Images Consumer confidence in the U.S. economy has been weak. The latest University of Michigan Survey reported a reading of 49.8 in April. While it was an improvement over the 47.6 level reported earlier in April, it was the lowest on record. The low level of confidence translates directly into spending. High confidence leads to more spending, and low confidence lea...
Love Employee/iStock via Getty Images Consumer confidence in the U.S. economy has been weak. The latest University of Michigan Survey reported a reading of 49.8 in April. While it was an improvement over the 47.6 level reported earlier in April, it was the lowest on record. The low level of confidence translates directly into spending. High confidence leads to more spending, and low confidence leads to less spending. The sector that tends to suffer the most as consumer confidence falls is discretionary spending. The State Street Consumer Discretionary Select Sector SPDR ( XLY ) is a highly liquid ETF that invests in consumer cyclical stocks. XLY has been in a bullish trend since 2009, reaching its latest high on January 12, 2026, at $125.01 per share. However, XLY has made lower highs since mid-January, reflecting record-low consumer sentiment and declining consumer discretionary spending. Inflation Is Taking A Toll On Discretionary Spending It was over five years ago that the global pandemic gripped markets across all asset classes and prompted worldwide central banks to slash short-term interest rates and inject unprecedented stimulus, sowing inflationary seeds. The economic condition that erodes purchasing power by increasing prices declined to less than 1% over the U.S. Federal Reserve’s 2% target in 2025. However, since energy is a critical input in most goods and services, the hostilities in the Middle East and closure of the Strait of Hormuz, through which over 20% of the world’s seaborne crude oil flows, have caused inflation to come roaring back in 2026. The April 2026 consumer price index rose by a higher-than-expected 0.6%, on a one-year pace of 3.8%, the highest level since May 2023. The core CPI, excluding food and energy, rose 0.4% and 2.8% year over year. Meanwhile, wholesale prices moved even higher in April 2026, with the producer price index rising 1.4%, with an upward revision to 0.7% in the March PPI. The bottom line is that inflation, which had ...
Key Points Coca-Cola maintains a massive global footprint and high net margins, supported by a vast network of independent bottling partners. Celsius is experiencing rapid growth in the functional energy drink market while benefiting from a major distribution partnership with PepsiCo. Which beverage stock deserves a spot in your portfolio for 2026? 10 stocks we like better than Coca-Cola › Should ...
Key Points Coca-Cola maintains a massive global footprint and high net margins, supported by a vast network of independent bottling partners. Celsius is experiencing rapid growth in the functional energy drink market while benefiting from a major distribution partnership with PepsiCo. Which beverage stock deserves a spot in your portfolio for 2026? 10 stocks we like better than Coca-Cola › Should you choose the legendary stability of Coca-Cola (NYSE:KO) or the explosive growth potential of Celsius (NASDAQ:CELH) for your portfolio? This comparison examines which beverage giant is better positioned for 2026. Coca-Cola dominates theglobal marketthrough a massive distribution network and iconic brands, appealing to conservative income seekers. Celsius focuses on functional energy drinks and younger demographics, prioritizing rapid market share expansion. While they operate in the same aisles, their financial profiles and growth trajectories suggest very different roles for an investor's long-term strategy. Image source: Getty Images. The case for Coca-Cola Coca-Cola sells a portfolio of over 200 brands, including soft drinks, waters, coffees, and teas, to consumers in more than 200 countries. The business operates through several segments, including North America, EMEA, and Asia Pacific, relying on a complex network of bottling partners to reach local markets. For the year ended Dec. 31, 2025, one specific bottler accounted for roughly 10% of total operating revenues. Customer concentration like this adds a layer of risk to the business, as the company depends on these partners for volume and execution. In FY 2025, revenue reached nearly $47.9 billion, showing a steady rise from approximately $47.1 billion the prior year. Net income for the period was close to $13.1 billion, resulting in a net margin of roughly 27.3%. This level of profitability is a hallmark of major players among beverage stocks worldwide. The growth reflects the company's ability to pass on price inc...
SteveOehlenschlager/iStock via Getty Images Northern Oil and Gas ( NOG ) down 1.4% in Thursday's trading as Raymond James downgrades to Outperform from Strong Buy with a $35 price target, trimmed from $37, saying the company has ~70% of its oil production hedged in FY 2026 at ~$70/bbl, which creates near-term headwinds in the current oil environment relative to less-hedged peers. Northern Oil ( NO...
SteveOehlenschlager/iStock via Getty Images Northern Oil and Gas ( NOG ) down 1.4% in Thursday's trading as Raymond James downgrades to Outperform from Strong Buy with a $35 price target, trimmed from $37, saying the company has ~70% of its oil production hedged in FY 2026 at ~$70/bbl, which creates near-term headwinds in the current oil environment relative to less-hedged peers. Northern Oil ( NOG ) said on its Q1 earnings conference call that the long-dated oil strip is what matters most regardless of current swings in spot prices; while underlying asset valuation is dramatically more dependent on the long-term commodity outlook—which is why Northern ( NOG ) continues to merit a favorable valuation and rating—Raymond James analyst John Freeman says the company's hedge position "creates some near-term headwinds in the robust oil environment relative to less-hedged peers." While the hedge position is unfortunate, Freeman thinks Northern ( NOG ) will beat its production guidance on improving activity; management guided to the top of the low-end activity scenario guidance, but the analyst expects oil volumes will come in within the high-activity scenario. "Overall, our bullish thesis on oil for 2H26 relative to the current strip puts NOG at a disadvantage, but next year the combination of increasing industry activity and much smaller hedge profile creates a favorable outlook," Freeman writes. More on Northern Oil & Gas Northern Oil and Gas: How I Value This Upstream Operator In 2026 Northern Oil and Gas: The Best Money Could Buy Right Now Northern Oil and Gas Q1 2026 Earnings Call Presentation
A closure of the Strait of Hormuz through August raises the risk of an economic downturn that comes close to the scale of the Great Recession in 2008, according to Rapidan Energy Group. The advisory firm’s base case assumes the waterway reopens in July, resulting in an average oil demand reduction of 2.6 million barrels a day and the spot-market price for benchmark Brent crude peaking near $130 a ...
A closure of the Strait of Hormuz through August raises the risk of an economic downturn that comes close to the scale of the Great Recession in 2008, according to Rapidan Energy Group. The advisory firm’s base case assumes the waterway reopens in July, resulting in an average oil demand reduction of 2.6 million barrels a day and the spot-market price for benchmark Brent crude peaking near $130 a barrel over the summer. However, a disruption beyond then would require even greater demand erosion to offset the supply shock through August and September — potentially enough to trigger an annual decline in global oil consumption in 2026. Several leading forecasters already expect a rare contraction in worldwide demand this year. Oil prices have nearly doubled since late February as the war between the US, Israel and Iran upends global markets and triggers concern about a simultaneous spike in inflation and slowdown in growth. “The current macro setup is less extreme than the 1970s or 2007 to 08,” Rapidan analysts wrote in a note, citing economies that are less oil-intensive and more credible monetary policy frameworks. “But that relatively stronger starting point doesn’t neutralize the risk that continued oil price spikes would exacerbate financial and macroeconomic vulnerabilities.” A delay until August would deepen the third-quarter supply deficit to roughly 6 million barrels a day, the firm said, just as inventories approach operationally challenging levels. Even with an early-August restart, markets would tighten before any relief is felt, as crude inventories continue declining into September while Arab Gulf production gradually rebounds and shipments begin reaching destinations, according to Rapidan.
Last night, artificial intelligence and market leader NVIDIA (NVDA) again blew out earnings. Nevertheless, the reaction to NVDA’s earnings was muted, as the blowout earnings appeared to already be priced in. Meanwhile, on Thursday, U.S. equities erased early losses to finish the session green amid fresh hopes of a U.S./Iran deal. Let’s break down the different crosscurrents that exist in this mark...
Last night, artificial intelligence and market leader NVIDIA (NVDA) again blew out earnings. Nevertheless, the reaction to NVDA’s earnings was muted, as the blowout earnings appeared to already be priced in. Meanwhile, on Thursday, U.S. equities erased early losses to finish the session green amid fresh hopes of a U.S./Iran deal. Let’s break down the different crosscurrents that exist in this market to give investors an idea of what might be to come over the next few months. Technical View: Bulls Remain Firmly in Control, Though Targets Have Been Met in Some Stocks The Nasdaq 100 Index (QQQ) just delivered one of the most impressive two-month gains ever. Since bottoming in late March, QQQ has gained approximately 30% off the lows – highly unusual action for a market coming out of a correction (and not a full-fledged bear market like COVID or Tariffs). Although QQQ has come a long way, the bulls remain in control. QQQ continues to hold the short-term 10-day moving average and is currently forming a daily bull flag pattern. Zacks Investment Research Image Source: TradingView At the same time, a handful of leading stocks have reached extreme Fibonacci 4.236%, including Micron (MU) and SanDisk (SNDK). Zacks Investment Research Image Source: TradingView Conversely, other stocks like Cipher Mining (CIFR) are setting up bullish base structures but have yet to break out. Zacks Investment Research Image Source: TradingView Seasonality & Sentiment: Mixed Historical seasonality trends suggest that equities tend to pause in the months leading up to midterm elections. With the S&P 500 Index already up more than 25% in Trump’s second term, a pause at these levels would not be a huge surprise. Zacks Investment Research Image Source: @RyanDetrick, Carson Research, FactSet Meanwhile, despite the historic run off the market lows, investor sentiment is surprisingly subdued. In fact, according to the AAII Investor Sentiment Survey, bearish sentiment currently outweighs bullish sentimen...