This is The Takeaway from today's Morning Brief, which you can sign up to receive in your inbox every morning along with: What we're watching What we're reading Economic data releases and earnings Three years ago, I was more upbeat about artificial intelligence from a job-creation perspective. As of today, I officially declare any remaining optimism on that front dead. The more leaders I talk to about how they are deploying AI, the more I'm left with a sense of dread for America's workforce. Sure, the best and the brightest will use new AI tools and drive massive productivity gains. But what happens to everyone else who's just a solid worker? Or an older worker who can't suddenly pick up AI workflows? I can tell you what happens: They get to spend a year searching for a job or opting for a career switch to drive for Uber (UBER). Though even that job appears at risk, given how Uber is keen on rolling out Rivian (RIVN) robotaxis to compete against Tesla robotaxis. "I think by 2027 the scrutiny on operating expenses from Wall Street is going to be super-intense, probably by the back half of this year ... because you're going to be able to figure out which organizations are optimizing on using this technology or not," Circle (CRCL) co-founder and CEO Jeremy Allaire said Tuesday night at the Economic Club of New York. "I do think it will impact the labor market in the near term." The impact is already evident in massive layoffs at Block (XYZ), Amazon (AMZN), and likely soon at Meta (META). Companies across five sectors that Morgan Stanley deems most likely to experience significant near-term impacts from AI adoption reported a 4% net reduction in jobs, according to a new survey of employers. The number of roles eliminated and not replaced was highest among early-career employees, or those with no previous experience. Here are some conversations I had on the AI front this week. Circle CEO Jeremy Allaire "I think the first is that agentic AI in particular is going to enabl...

北角一幢大廈發生火警，有住戶從窗口爬下樓逃生，三人吸入濃煙不適送院。 從市民提供片段可見，有兩名住戶看到濃煙後，冒險爬出窗外，嘗試爬下樓。其中一人背著背囊，險象環生。 現場是北角春秧街仁德大廈，警方下午約5時半接到多人報案指，大廈其中一層冒出大量濃煙。消防到場，在約一個小時後，將火救熄。 期間多名住戶需要疏散，一男兩女吸入濃煙不適，清醒被送往東區醫院治理。

War in Iran disrupting established trade flows raises an important question: how serious could the consequences be, and for whom will they be most severe? To answer this, it is useful to look at history. During the fifth and fourth centuries BC, Athens, a major centre, depended heavily on grain imports. Whenever routes were blocked during wars, Athens almost immediately faced the threat of a food crisis. In the Middle Ages, Venice became one of Europe’s richest cities and a crucial hub linking European and eastern trade. When wars disrupted routes, the effects were felt almost instantly in the Venetian economy. For centuries, trade between China and Europe moved along the Silk Road. As trade networks expanded, disruptions to key routes began to have far wider consequences. In response to the 1973 Yom Kippur war, Arab oil-producing countries imposed an embargo on the United States and several Western economies. Oil supplies fell sharply, prices surged, global inflation accelerated and many major economies slipped into recession. Advertisement A similar pattern appeared in 1956 when Egypt nationalised the Suez Canal, disrupting European trade with Asia. The canal’s closure again from 1967 to 1975 forced global shipping to reorganise routes. In 2021, the container ship Ever Given blocked the Suez Canal for six days, leaving hundreds of vessels waiting and delaying supply chains around the world. During the 1980s Iran-Iraq war, attacks on shipping in the Persian Gulf led to the deployment of international naval escorts. These examples tell us that whenever a narrow trade corridor carries strategically important goods, blocking that corridor tends to produce consequences far beyond the immediate region. From the Bosphorus Strait to the Strait of Malacca , world trade has long depended on vulnerable chokepoints. 04:04 How US-Israeli strikes on Iran are sending shock waves through global energy markets How US-Israeli strikes on Iran are sending shock waves through global e...

Vinicius Andrade and Zijia Song discuss the shift in global interest rates expectations caused by higher energy prices and how that’s derailing bets in emerging markets local assets — one of the most popular EM trades over the past year.

PM Images/DigitalVision via Getty Images AGNC Investment Corp. ( AGNC ) got back to its prepandemic levels in May of 2021 only to retrace by almost -50% by the end of 2024. As the macroeconomic environment became more favorable and the Fed found itself in a position to continue cutting rates in the back half of 2025 AGNC was able to rebound back over $10 while producing double-digit yields. The rebound continued into February as shares exceeded $12, the geopolitical conflict in Iran started, oil skyrocketed, inflation came back on the radar, and future rate cuts have come into question. AGNC is now down -7.56% YTD as shares have fallen below the $10 level, pushing the dividend yield to 13.99%. The market is starting to reprice risk, and AGNC’s rebound that was supported by tightening agency MBS spreads, a supportive yield curve, and strong demand from both the GSEs and commercial banks is not nearly as appealing as it once was. While AGNC is still one of the largest pure play agency MBS mortgage REITs with an investment portfolio that exceeds $90 billion, the current macroeconomic environment is casting a lot of doubt on its future prospects. AGNC’s operating environment in the short-term presents some challenges, especially after the Fed released their updated summary of economic projections after the FOMC meeting, but I am still bullish from an income perspective. The reality is that we have been here before, and we’re likely to be here again at some point in the future. AGNC has paid a monthly dividend of $0.12 since April 2020 and I am looking at the declining share price as an opportunity to lock in a higher yield on cost. Seeking Alpha Following up on my previous article about AGNC In September I had written an article on AGNC ( can be read here ) where I discussed how rate cuts should lower funding costs, widen spreads, and boost book value and origination activity. I felt that AGNC’s chart over the decade could be overlooked, as AGNC's high dividend yield ha...

Jira Pliankharom/iStock via Getty Images Five – six weeks into the Iran conflict, the most surprising aspect of the S&P 500 earnings data is that the sell-side is still revising forward S&P 500 EPS estimates higher for the benchmark, not necessarily for all the components. The “forward 4-quarter estimate” ended this week at $319.98, versus last week’s $316.89 for a sequential increase of 1%; The P/E ratio on the forward estimate is now just 20.3x versus last week’s 21.1x; The S&P 500 earnings yield jumped to 4.92% this week, the highest print since last April 4th, ’25’s 5.50% at the Liberation Day lows; High-yield spreads (per Bespoke data) widened this past week to +320 versus the +394 in early April of ’25, again versus the Liberation Day wides; To give readers a perspective on the FFQE versus its multiple over the last 4 – 5 weeks, here’s the FFQE along with its rapidly shrinking multiple: 3/20/26: $319.98, P/E is 20.23x. 3/13/26: $316.89, P/E was 21.1x. 3/6/26: $315.89, P/E was 21.3x 2/28/26: $314.77, P/E was 21.85x 2/20/26: $313.93, P/E was 22.01x How are 2026 and 2027 S&P 500 EPS estimates holding up? Data sourced from LSEG There is a couple of different ways this blog slices and dices earnings data from LSEG: one is to track the annual EPS estimates published each week and note the “rate of change” for each period on the spreadsheet. Note how the 26- and 52-week rate of change for the 2026 S&P 500 EPS estimates has actually accelerated the last 4 weeks, (i.e. since the start of the Iran conflict). That’s not something I expected to see given the direction of stock prices. Sector EPS growth estimate changes for ’26: Technology is Big Revision Winner This expected S&P 500 sector EPS growth estimate for 2026 shows that technology estimates have been revised S-H-A-R-P-L-Y higher since mid-February ’26, and my educated guess is that a big chunk of this is Oracle ( ORCL ) and Micron Technology ( MU ) which reported last week. Here is something remarkable: take a lo...

Once a top pick among emerging-market investors, local-currency debt is quickly becoming a pain trade. After months being boosted by a weaker dollar, slowing inflation and interest-rate cuts, the bonds have delivered a loss of more than 4.5% since the Iran war started. That’s almost double the declines of its dollar peers . Just six out of 22 main EM currencies are up against the dollar this year, compared with 17 before the conflict broke out. “EM local-currency bonds have, unsurprisingly, become the primary casualty of the current risk-off environment,” said Thierry Larose , a portfolio manager at Vontobel Asset Management. “The sharp rise in oil and gas prices, which has recalibrated global inflation expectations, is driving heightened volatility in these assets.” In the past week, policymakers from Eastern Europe to Latin America have signaled they may need to keep rates elevated for longer, or even tighten further, to contain price pressures caused by higher energy costs. The Federal Reserve warned inflation risks may derail rate cuts, while a member of the European Central Bank said officials may need to consider hiking rates as soon as next month . Read More: Bond Market’s Big 2026 Fed Bet Flipped on Its Head by Oil Surge South African and Hungarian bonds have handed investors losses around 10% this month as their currencies led EM losses against the dollar, according to data compiled on a Bloomberg index. Local markets in Mexico and Indonesia are still searching for a bottom, according to Goldman Sachs strategists including Kamakshya Trivedi and Sunil Koul . Larose is reducing exposure on so-called high-beta currencies in Latin America and emerging Europe, Middle East and Africa. Instead, he favors Asia, especially the South Korean won and Taiwanese dollar, noting that central banks in the region have stronger incentives and capacity to counter rising energy prices and are better positioned to defend their currencies. At Invesco Ltd., Wim Vandenhoeck has bee...

Palantir Technologies stock has 1 problem. Here's why I'm buying anyway. MSN

Two women climbed out of a window of a residential block in Hong Kong in an attempt to escape a fire that sent at least three people to hospital on Sunday, police said. Police said they received multiple reports at 5.28pm of a blaze at Yen Dack Building on Chun Yeung Street in North Point. Thick smoke billowed from a high-floor unit as firefighters arrived, deploying one hose line and a breathing apparatus team. The fire was extinguished at 6.19pm. Firefighters arrive at Yen Dack Building on Chun Yeung Street in North Point. Photo: Facebook/Kent Luk Two women and a man were taken conscious to Pamela Youde Nethersole Eastern Hospital in Chai Wan after inhaling smoke. Advertisement The two women who managed to escape to safety were seen struggling to get out through the window, grabbing water pipes and stepping onto air-conditioner units as they descended to a lower floor, startling onlookers on the ground. Many residents were evacuated to safety during the blaze, with police and firefighters helping elderly tenants. Advertisement The cause of the fire is under investigation.

财联社3月22日讯（编辑 笠晨） 十大券商最新策略观点新鲜出炉，具体如下： 中信证券：关于中东冲突影响的一些核心争议 步入4月后都会陆续有答案 关于中东冲突影响的一些核心争议，步入4月后都会陆续有答案。前述市场核心问题的答案将于4月逐步落地，在此之前，市场仍将处于叙事博弈阶段，同时反映出流动性退潮的特征，美债利率目前还在快速上行，美债10年期收益率从2月末的3.97%飙升至当前的4.39%，创去年8月以来最高水平。从当前全球市场格局来看，在全球避险情绪消退后，各国强化能源资源安全布局、加快推进电气化进程已成为新的发展趋势，中国优势制造业的竞争力向定价权与利润率的转化之路才刚刚开始。从市场的交易逻辑来看，涨价和PPI回升就是持续的线索，当前唯一的担忧就是上游的价格难以向下传导，现阶段上中游领域已开启提价进程，但下游仍处于观望并消化库存的状态，唯有随着时间推移与商品波动率回落，下游的采购才会恢复正常节奏，相关领域是否能顺价、是否能维持利润率扩张、份额优势是否真的能转化为定价权，才有定论。在此之前，投资者还需保持耐心，冷静对待股价波动，4~5月才是决断期，今年前3个月主要由叙事驱动的板块轮动与涨跌，即便未能通过交易保住收益，亦无大碍，实际上，主动权益基金年内中位数收益率目前已回到0.7%。 坚定围绕中国优势制造定价权重估布局。目前的底仓建议仍然是中国有份额优势、海外产能重置成本高难度大、且供应弹性容易被政策影响的行业，以新能源、化工、电力设备、有色为基础。近期的流动性冲击让不少品种的估值又回到了便宜的区域，极端负面演绎和叙事有些类似去年4月7日以后的出海品种，重新带来巨大的预期差和低估值。在以上底仓的基础上，建议继续增加对低估值因子的敞口暴露，重点关注保险、券商和电力。从短期景气信号驱动的框架来考虑，涨价仍然是最“锋利的矛”，PPI交易成为全年主线的概率在上升，4~5月就是决断期。有多条线索及结构性机会可以优先关注：1）油价冲击下存在第二替代原料/工艺路线的化工品（中国这些品种的“煤含量”通常高于海外竞对），第一原料（原油）的涨价会带来高价差；2）原先中东/西欧产能占比较大的品种，供给的中断有望带来额外的供需差从而引发涨价预期；3）替代品受成本影响涨价，需求提升带动供需差的品种；4）本来已处于涨价通道，成本上涨提供顺价窗口的供需紧平衡品种。 华西证券：配置银行等板块 静待...

守着“金矿”的同时，更重要的是探索“金矿”进一步开采的政策和具体路径。 日前，中办、国办《关于做好第二轮土地承包到期后再延长30年试点工作的意见》（下称《意见》）发布，强调要坚持稳中求进、守正创新，牢牢把住处理好农民和土地关系这条主线，锚定加快建设农业强国目标，坚持把依法维护农民权益作为出发点和落脚点。 自改革开放以来，我国农村土地已经进行了两轮承包。加上这次明确第二轮土地承包到期后再延长30年，土地承包关系将保持稳定长达75年。 当前，农村土地承包政策延续面临稳定和发展两个方面的重要课题。稳定是指土地承包政策长期不变，土地承包人基本不变，权益关系基本不变；发展是指在坚持基本制度不变的前提下，通过创新，让土地这个农村最重要的资源要素更好发挥潜力，促进农民获得更多收益。 稳定意味着权益的延续和维护，充分体现各种利益诉求。 农村土地集体所有制是根基，这是不能改变的基本方针。从第一轮土地承包到现在，已经超过四十年，各种权责利益关系已经相对固定下来，一旦出现较大范围内变化，就可能滋生不少利益冲突，这就需要“大稳定”和“小调整”。 “大稳定”就是确保绝大多数农户原有承包地保持稳定、顺利延包，决不能推倒重来、打乱重分，更不能借机违法调整或收回农户承包地；“小调整”就是对确需调整的特殊情形，要依法依规从严掌握，在农村集体经济组织的个别农户之间适当调整。 在强调“大稳定”“小调整”的同时，《意见》再次强调了依法保障进城落户农民合法土地承包权益。进城落户的，应当按照承包方的意愿，保留其土地承包经营权或者允许其依法进行土地承包经营权流转。这是当前的政策方向，也是在新型城镇化建设及乡村振兴过程中面临的重要课题。农民的身份不论如何变换，土地是不能轻易离开的重要根基。 《意见》更加注重农民的权益保障：因家庭成员全部死亡而导致承包方消亡的，发包方应当依法收回承包地，原承包方应得的承包收益，依照民法典规定继承；依法维护第二轮土地承包期放弃承包等无地农户的合法权益，妥善处置因缺地少地导致生活困难农户的合理诉求。 前者明确了发包方收回承包地的严格标准，“消亡”方可收回；后者则明确了即使在第二轮承包中曾经放弃了承包经营权，但只要是作为集体经济组织成员的资格还在，就可以按照相关规定，通过集体收益分配、提供就业服务、公益性岗位安置等土地以外的方式获得救济。 发展就是创新，创新的目的是为农民创造更多收益。 ...

Lintao Zhang/Getty Images News Chinese Premier Li Qiang said Sunday that Beijing will take further steps to open its economy to overseas companies and work toward a more even trade relationship with partners. The statement followed a year of heightened tensions and tariff disputes with the United States and European Union. Speaking at the China Development Forum in Beijing, Li said the country plans to increase imports of higher-quality foreign goods and collaborate with trading partners to improve the structure and balance of global commerce, according to state media. The two-day gathering, which wraps up Monday, serves as a platform for Chinese officials to outline economic priorities and investment opportunities to an audience of multinational executives, policymakers and academics. The event comes on the heels of China reporting a record trade surplus of $1.2 trillion for 2025, underscoring both its export strength and the concerns it has triggered abroad. Beijing continues to face criticism from several governments over issues such as industrial overcapacity and heavy reliance on Chinese exports in key sectors. While Li did not directly address the surplus in his remarks, his emphasis on balanced trade suggests an effort to ease international concerns, particularly as China maintains a fragile pause in trade tensions with Washington. A planned visit to Beijing by U.S. President Donald Trump to meet President Xi Jinping was postponed last week due to the Iran conflict, delaying diplomatic efforts aimed at stabilizing ties between the two largest economies. Separately, central bank governor Pan Gongsheng sought to put the trade imbalance into a broader context. In remarks published by the People’s Bank of China, Pan said global imbalances should be assessed across both goods and services, as well as financial flows. He noted that while China runs the world’s largest surplus in goods, it also posts the largest deficit in services. Pan added that China does not int...

格隆汇3月22日丨美国总统特朗普：如今伊朗被击败，美国最大的敌人就是激进左翼、极其无能的民主党！

Eight overnight attacks targeted a US diplomatic and logistics centre at Baghdad’s International Airport, an Iraqi security official said on Sunday. Several waves of departures from the US facility occurred on Saturday from the airport, according to another Iraqi security source, speaking on condition of anonymity due to the sensitivity of the matter. “Eight separate attacks, carried out until dawn with rockets and drones, targeted the US centre,” the senior security official said, adding that “some rockets landed near the base”. Advertisement A second security official said there had been at least six strikes, with a police source saying a rocket launcher was discovered in a Baghdad district near the airport. The US diplomatic and logistics hub is located in the international airport complex, which has been repeatedly targeted since the start of the war in the Middle East on February 28. Advertisement Pro-Iran armed groups have claimed responsibility for attacks on US interests in Iraq and across the region, while strikes have also targeted these groups.

When share prices of great businesses are in decline, the sharpest investors are quick to analyze the situation. There might be a rare opportunity to buy stocks while they're on the dip. In the past five years, this industry-leading company's shares are up 174% (as of March 19). This is a market-crushing performance that easily outpaces the 82% total return of the S&P 500. However, the stock price has tanked 19% over the last seven months. Are investors staring at a no-brainer buying opportunity right now? Economic winds are always changing, but this company isn't fazed Businesses that sell products or services that customers need in any economic environment are a special breed. This is the best way to describe O'Reilly Automotive (ORLY 0.70%). It operates 6,447 stores in the U.S. that sell aftermarket auto parts to DIY and professional customers, giving it a mission-critical position for people who always need functioning vehicles. O'Reilly is a steady performer. It reported a same-store-sales increase of 4.7% in 2025. This was the 33rd straight year that the business posted positive comparables. Growth is also an important part of the story. The company's revenue and net income have climbed at compound annual rates of 8.3% and 10.8%, respectively, between 2015 and 2025. O'Reilly's expansion stems from its ability to open new stores, with 207 locations added last year and 225 to 235 planned for 2026. Management also operates with a strict capital allocation policy of returning excess cash to shareholders. Over the last three years, O'Reilly spent $7.4 billion on stock buybacks, which equates to about 10% of the current market cap. This keeps existing investors happy since it boosts earnings per share. Expand NASDAQ : ORLY O'Reilly Automotive Today's Change ( -0.70 %) $ -0.62 Current Price $ 87.29 Key Data Points Market Cap $73B Day's Range $ 86.78 - $ 88.75 52wk Range $ 86.77 - $ 108.72 Volume 196K Avg Vol 6M Gross Margin 51.59 % This crucial variable has always be...

March has been volatile thus far, with S&P 500 down about 3% for the month as of March 18. It is the continuation of negative market sentiment that began forming in late 2025. The March decline has been fueled by uncertainty around the war in Iran and rising oil prices. Also, still elevated inflation and a weak job market have contributed to investor jitters. Investors who want to balance out their portfolios and navigate choppy markets might want to consider an exchange-traded fund (ETF) that is built to thrive in down markets. Here are three ETFs built to handle volatile markets. 1. Franklin International Low Volatility High Dividend ETF The Franklin International Low Volatility High Dividend Index ETF (LVHI 1.87%) has outperformed the broader market by a wide margin this year. The ETF is up 8.3% year to date as of March 18, offsetting negative returns for the Nasdaq Composite and S&P 500. Its outperformance in this market stems from its diversification away from large-cap U.S. equities. The ETF focuses on international stocks that have high dividends, low volatility, and sustainable earnings. Expand NYSEMKT : LVHI Legg Mason ETF Investment Trust - Franklin International Low Volatility High Dividend Index ETF Today's Change ( -1.87 %) $ -0.74 Current Price $ 38.90 Key Data Points Day's Range $ 38.72 - $ 39.63 52wk Range $ 28.46 - $ 41.70 Volume 1.1M It holds about 185 mostly large-cap and mid-cap international stocks from some 19 different developed nations. Stocks from Canada, Japan, and the U.K. have the most representation. Shell, Novartis, and Suncor Energy are among its largest holdings. The ETF is weighted by its proprietary stable yield score. The ETF is up 30% over the past 12 months with the dividend reinvested and has averaged a 16.7% return over the past five years. 2. Franklin U.S. Low Volatility High Dividend ETF The Franklin U.S. Low Volatility High Dividend ETF (LVHD 1.52%) is an attractive option right now for the same reason as its sister ETF, LVH...

Key Points Selling mission-critical products has positioned this business to withstand changing economic forces. 2025 was the 33rd straight year that this industry-leading company reported same-store sales growth. Shares have always been expensive, but the latest dip might present an opportunity for some investors that's too hard to pass up. 10 stocks we like better than O'Reilly Automotive › When share prices of great businesses are in decline, the sharpest investors are quick to analyze the situation. There might be a rare opportunity to buy stocks while they're on the dip. In the past five years, this industry-leading company's shares are up 174% (as of March 19). This is a market-crushing performance that easily outpaces the 82% total return of the S&P 500. However, the stock price has tanked 19% over the last seven months. 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 » Are investors staring at a no-brainer buying opportunity right now? Economic winds are always changing, but this company isn't fazed Businesses that sell products or services that customers need in any economic environment are a special breed. This is the best way to describe O'Reilly Automotive (NASDAQ: ORLY). It operates 6,447 stores in the U.S. that sell aftermarket auto parts to DIY and professional customers, giving it a mission-critical position for people who always need functioning vehicles. O'Reilly is a steady performer. It reported a same-store-sales increase of 4.7% in 2025. This was the 33rd straight year that the business posted positive comparables. Growth is also an important part of the story. The company's revenue and net income have climbed at compound annual rates of 8.3% and 10.8%, respectively, between 2015 and 2025. O'Reilly's expansion stems from its ability to open new stores, with 207 locations added ...

Key Points All three of these ETFs are beating the market by a wide margin so far in 2026. They invest in stocks that perform well in market downturns. 10 stocks we like better than Legg Mason ETF Investment Trust - Franklin International Low Volatility High Dividend Index ETF › March has been volatile thus far, with S&P 500 down about 3% for the month as of March 18. It is the continuation of negative market sentiment that began forming in late 2025. The March decline has been fueled by uncertainty around the war in Iran and rising oil prices. Also, still elevated inflation and a weak job market have contributed to investor jitters. Investors who want to balance out their portfolios and navigate choppy markets might want to consider an exchange-traded fund (ETF) that is built to thrive in down markets. 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 » Here are three ETFs built to handle volatile markets. 1. Franklin International Low Volatility High Dividend ETF The Franklin International Low Volatility High Dividend Index ETF (NYSEMKT: LVHI) has outperformed the broader market by a wide margin this year. The ETF is up 8.3% year to date as of March 18, offsetting negative returns for the Nasdaq Composite and S&P 500. Its outperformance in this market stems from its diversification away from large-cap U.S. equities. The ETF focuses on international stocks that have high dividends, low volatility, and sustainable earnings. It holds about 185 mostly large-cap and mid-cap international stocks from some 19 different developed nations. Stocks from Canada, Japan, and the U.K. have the most representation. Shell, Novartis, and Suncor Energy are among its largest holdings. The ETF is weighted by its proprietary stable yield score. The ETF is up 30% over the past 12 months with the dividend reinvested and ha...

Key Points Black Stone Minerals' SVP sold 30,276 common units for a transaction value of ~$462,000 on March 5, 2026. The transaction represented 100.00% of Putman's direct common unit holdings, reducing direct ownership to zero. 10 stocks we like better than Black Stone Minerals › Luke Stevens Putman, SVP, General Counsel, and Sec of Black Stone Minerals, L.P. (NYSE:BSM), reported the sale of 30,276 common units for a transaction value of approximately $462,000 on March 5, 2026, according to a SEC Form 4 filing. Transaction summary Metric Value Shares sold (direct) 30,276 Transaction value $461,585 Post-transaction shares (direct) 0 Transaction value based on SEC Form 4 reported price ($15.25). Key questions How were Putnam’s direct holdings affected by this sale? 100.00% of Putman's direct common unit holdings were sold in this transaction, reducing his direct position in the traded share class to zero as of March 5, 2026. 100.00% of Putman's direct common unit holdings were sold in this transaction, reducing his direct position in the traded share class to zero as of March 5, 2026. What was the market context at the time of sale? On March 5, 2026, Black Stone Minerals, L.P. units closed at $15.44 (market open: $15.19), with a one-year total return of 16.1% as of the transaction date, placing the sale in a period of positive price performance. Company overview Metric Value Market capitalization N/A Revenue (TTM) $400.98 million Net income (TTM) $270.47 million 1-year price change (as of 3/21/26) -0.39% Company snapshot Black Stone Minerals, L.P. is one of the largest owners and managers of oil and natural gas mineral interests in the United States, generating revenue primarily from royalty payments across approximately 16.8 million gross acres. It serves energy producers and exploration companies operating on its mineral acreage throughout 41 U.S. states. What this transaction means for investors Investors should be aware of the unique structure when investing in M...

An orthopedic surgeon explains the hand injury that has many MLB players on the bench Baseball hitters are on a quest for power. But that quest comes at a cost. NPR's Ayesha Rascoe speaks to orthopedic surgeon Dr. Thomas DiLiberti about baseball players suffering hamate injuries. Sports An orthopedic surgeon explains the hand injury that has many MLB players on the bench An orthopedic surgeon explains the hand injury that has many MLB players on the bench Listen · 3:56 3:56 Baseball hitters are on a quest for power. But that quest comes at a cost. NPR's Ayesha Rascoe speaks to orthopedic surgeon Dr. Thomas DiLiberti about baseball players suffering hamate injuries. Sponsor Message Sponsor Message

She cared for her mother for 14 years. She says she'd do it all over again Kathy Barnes-Lou cared for her mother for 14 years before her death. She learned that caregiving can bring life's purpose into focus, even as it grinds you down. Health She cared for her mother for 14 years. She says she'd do it all over again She cared for her mother for 14 years. She says she'd do it all over again Listen · 4:24 4:24 Kathy Barnes-Lou cared for her mother for 14 years before her death. She learned that caregiving can bring life's purpose into focus, even as it grinds you down. Sponsor Message Sponsor Message

以军称打死黎真主党拉德万部队高级指挥官 2026-03-22 20:22:44 来源： 同花顺7x24快讯 分享 当地时间3月22日下午，以色列国防军宣布，黎巴嫩真主党精锐部队拉德万部队的一名高级指挥官——阿布.哈利勒.巴尔吉21日在以军针对黎巴嫩南部的一次空袭中丧生。(央视新闻)

财联社3月22日讯（记者 肖良华） 2026年春节后，持续“高烧”三年的羽毛球市场开始降温，多家主流品牌相继宣布降价，降价幅度普遍在10%到20%之间。 “从去年底到今年3月份，我们公司羽毛球产品已经两次降价了。”浙江省江山市羽毛球从业者吴斌告诉财联社记者，这波羽毛球集体降价，是原料、库存、市场、技术四大因素叠加的结果。“降价后市场更健康了，供需关系更真实，公司销量略有下降，但我们心里反而更踏实了。对于后市，感觉下降空间不大。” 产业链降声一片 经历多轮涨价之后，一度“飞天”的羽毛球价格开始反转。 2月24日，知名羽毛球运动品牌威克多（VICTOR）率先宣布调价，鸭毛球金黄3号和金黄5号的建议零售价均降了14元。接着，斯庄格、齐克努也宣布调价。 2月28日，羽毛球龙头企业亚狮龙也发布通知，宣布每筒羽毛球零售价下降10元左右。之后，超牌、威肯等不少品牌陆续跟上降价的步伐，像超牌最热销的红超羽毛球零售价每筒大约下降5元-7元。 财联社记者走访青岛当地羽毛球专卖店，发现尤尼克斯终端价格也有所下降。 “胜利品牌的碳音球，去年拼团买，一筒要90多，现在降到80多了。”青岛羽毛球爱好者江女士对财联社记者表示。 传统羽毛球的核心原料是鹅、鸭翅膀上的“刀翎”毛片，这部分成本占生产成本的七成以上，高端球甚至达到八成。2025年10月以来，刀翎毛片价格一路下跌，羽毛球生产成本随之降低。 安徽毛贩子刘先生对财联社记者表示，刀翎毛经历2022-2025年中“史诗级”暴涨后，于2025年下半年开始回落，但价格仍远高于2023年水平。“2023年底鹅刀翎毛约200元/斤，折合单根0.33元。2025年9月最高涨至350-450元/斤，单根最高达0.97元；优质毛片（如藕刀）单根逼近1元。 2025年10月至今，刀翎毛价格开始下行，2026年3月回落至280-350元/斤，优质毛片回落至0.8元/片左右，较峰值下跌近两成。 技术、市场多重因素推动价格下降 实际上，有业内人士早就预料到了羽毛球价格的戏剧性反转。青岛一家体育用品公司的负责人告诉财联社记者，“准确地说，羽毛球实际降价比我们预计的晚了几个月。” 他表示，毛片价格高涨，必然会刺激养殖产业，一只鹅毛售价从30元涨到60元，养殖户心动是难免的。2025下半年养殖产能逐步恢复，供应紧张缓解；叠加前期高价导致库存积压，因此厂商选择降价促销。 吴斌...

Some cryptocurrencies experienced significant growth in recent years, and the Ripple token XRP (XRP 3.13%) has been a standout success. The crypto is up 320% over the past three years and has increased 177x over the past decade. But investors looking for big gains from XRP's future price may want to temper their expectations, given the current economic situation and the fact that some of the previous reasons XRP gained momentum are already in the rearview mirror. Past XRP gains came from big news Cryptocurrency exchange-traded funds (ETFs) have been a significant boon to crypto values over the past few years, making it easier for investors to buy and sell digital tokens. Bitcoin ETFs paved the way a few years ago, and several financial institutions launched XRP ETFs starting last year. The anticipation of these ETFs helped push XRP's value higher, even before the ETFs launched, but now that the funds are here, some of the momentum around their approval has run its course. Institutional adoption of cryptocurrencies typically helps a coin's value increase as investors anticipate more people being able to easily buy and sell the crypto. But now that there are a handful of XRP ETFs available, they're no longer a catalyst for the crypto to move higher. It's also worth noting that XRP's value has seen a few boosts over the past couple of years, following Ripple Labs' settlement of a long-running lawsuit with the U.S. Securities and Exchange Commission (SEC) and payment of a $50 million fine. The SEC softened its approach toward cryptocurrencies in general recently, setting up the Strategic Bitcoin Reserve and ending some lawsuits with other cryptocurrency companies. This all contributed to XRP's rising price, but doesn't have much of an effect on its value now. Expand CRYPTO : XRP XRP Today's Change ( -3.13 %) $ -0.05 Current Price $ 1.40 Key Data Points Market Cap $86B Day's Range $ 1.39 - $ 1.45 52wk Range $ 1.14 - $ 3.65 Volume 1.7B Investors' risk appetite is waning Y...

Key Points The launch of XRP ETFs and positive crypto news have boosted XRP's value over the past few years. But investors are increasingly skeptical of risky bets. 10 stocks we like better than XRP › Some cryptocurrencies experienced significant growth in recent years, and the Ripple token XRP (CRYPTO: XRP) has been a standout success. The crypto is up 320% over the past three years and has increased 177x over the past decade. But investors looking for big gains from XRP's future price may want to temper their expectations, given the current economic situation and the fact that some of the previous reasons XRP gained momentum are already in the rearview mirror. 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 » Past XRP gains came from big news Cryptocurrency exchange-traded funds (ETFs) have been a significant boon to crypto values over the past few years, making it easier for investors to buy and sell digital tokens. Bitcoin ETFs paved the way a few years ago, and several financial institutions launched XRP ETFs starting last year. The anticipation of these ETFs helped push XRP's value higher, even before the ETFs launched, but now that the funds are here, some of the momentum around their approval has run its course. Institutional adoption of cryptocurrencies typically helps a coin's value increase as investors anticipate more people being able to easily buy and sell the crypto. But now that there are a handful of XRP ETFs available, they're no longer a catalyst for the crypto to move higher. It's also worth noting that XRP's value has seen a few boosts over the past couple of years, following Ripple Labs' settlement of a long-running lawsuit with the U.S. Securities and Exchange Commission (SEC) and payment of a $50 million fine. The SEC softened its approach toward cryptocurrencies in general r...

澳大利亚政府22日表示，虽然该国燃料进口受到伊朗战事冲击，但供应尚充足，暂无定量配给的打算。针对少数地区出现的抢购汽油现象，政府敦促民众理性加油。澳大利亚气候变化与能源（850101）部长克里斯.鲍恩在一段电视采访中说，截至21日，该国的汽油、柴油和航空燃油的储备分别够用38天、30天和30天，同时燃料供应依旧“强劲”。(新华社)

The local rights organisation, which has documented atrocities by both the army and the RSF throughout the war, said the hospital in el-Daein was a vital health facility relied upon by thousands of civilians in the city and surrounding villages.

Khanchit Khirisutchalual/iStock via Getty Images Introduction: Closed-end funds offer an attractive investment class that covers various asset classes and promises high distributions to income investors. They can also offer reasonable total returns if the distributions are reinvested, but generally lag the performance of the S&P 500. They are not for everyone but are particularly appealing to retirees and income investors. However, it will be best to diversify into 7 to 10 CEFs covering many different asset classes and market segments. Today's fund, Abrdn World Healthcare Fund ( THW ), is a healthcare sector-specific global hybrid fund, with investments both in equity and debt securities. The fund is invested in all segments of the healthcare industry. The fund is invested nearly 50:50 in U.S. and European companies. The fund offers no discount but an attractive distribution paid on a monthly basis. The healthcare sector had a challenging environment from 2022 to 2024; however, the sector has recovered a lot in 2025. So, is it the right time to invest in this fund? We will try to answer this question and will also compare this fund with similar funds. Fund's Background Abrdn World Healthcare Fund (THW) is a closed-end fund with over 10 years of history. The fund was launched in June 2015. The fund's investment objective is to provide high current income as well as capital appreciation. The fund primarily invests in a diversified pool of stocks and debt of healthcare companies. The fund is a global fund with nearly 55% of its assets invested outside the U.S. The fund relies on the growth of the equity portion of its investments to cover any shortfall in the income. The fund was originally launched as a Tekla Group fund and subsequently became part of the Aberdeen Group. The fund also uses a moderate level of leverage, currently at 19%. As per the fund's literature, its investment policies include, Under normal market conditions, the Fund expects to invest at least 80...

Key Points Equinor, PBF Energy, and Chevron offer different ways to benefit from high energy prices. Balancing refiners and producers can help manage portfolio risk. 10 stocks we like better than Chevron › With the price of oil approaching $100 per barrel and energy infrastructure in the Persian Gulf under attack from all sides, it's a good idea to buy a little protection for your portfolio from the risk of an extended period of relatively high energy prices. The risk isn't just a spike in oil prices; there's also a risk that infrastructure damage will be lasting, and that traffic through the Strait of Hormuz could be closed for an extended period. In this context, buying into energy companies Equinor ASA (NYSE: EQNR), PBF Energy (NYSE: PBF), and Chevron (NYSE: CVX) provides investors with a nice mix of investment themes to benefit from in the current environment. Equinor: A stock ideally placed to serve Europe's energy needs About 20% of the world's energy passes through the Strait of Hormuz, and its closure has severe consequences for the supply of liquefied natural gas (LNG), crude oil, and petrochemicals such as urea and fertilizer. The immediate impact will be felt in Asia. The International Energy Agency (IEA) estimates that 80% of oil passing through the Strait is destined for Asia, and 90% of LNG, too. 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 » However, if there's a shortage of crude and LNG from the region, Asian countries will compete for energy supplies to Europe, pushing up energy prices for Europeans. The answer to your next question is... Norway. The next answer is Norwegian energy giant Equinor, which is the largest supplier of natural gas from the Norwegian continental shelf to Europe. As you can see in the following chart, Norwegian energy exports to the European Union receiv...