Last week, Best Buy (BBY 2.41%) posted mixed results for its fiscal 2026 fourth quarter, missing analysts' consensus revenue expectations but beating earnings expectations. Looking ahead to its fiscal 2027, CFO Matt Bilunas said the retailer was "excited about the momentum in our business," but also warned it will "continue to navigate a mixed macro environment." Despite the quarter's mixed results and the macroeconomic challenges the company may face, investors still liked what they saw enough to boost the stock price last week after the report was published. Expand NYSE : BBY Best Buy Today's Change ( -2.41 %) $ -1.59 Current Price $ 64.37 Key Data Points Market Cap $14B Day's Range $ 64.08 - $ 65.62 52wk Range $ 54.99 - $ 84.99 Volume 9.6K Avg Vol 4.8M Gross Margin 23.96 % Dividend Yield 5.76 % Best Buy certainly grabbed headlines after its earnings report, but I believe another retail stock has much more upside ahead. Offering the essentials When I look at Best Buy, I see a business centered around selling nice-to-have electronics. When I look at Walmart (WMT +0.18%), I see a business not only centered on selling need-to-have items, but also one that is increasing its ability to fulfill a wide range of needs in one order. For example, customers can order prescriptions from the Walmart pharmacy, order groceries, and have both delivered together. During times of economic uncertainty, people may delay buying a new computer or upgrading their phone, but they won't stop buying groceries or getting their prescriptions. Expand NASDAQ : WMT Walmart Today's Change ( 0.18 %) $ 0.22 Current Price $ 124.56 Key Data Points Market Cap $991B Day's Range $ 123.37 - $ 125.23 52wk Range $ 79.81 - $ 134.69 Volume 126K Avg Vol 31M Gross Margin 25.40 % Dividend Yield 0.76 % While Walmart gets people in the door by offering them low prices on general merchandise and groceries, it has also been broadening its revenue sources. Though it's not typically recognized for its advertising bu...

SAN FRANCISCO, March 10, 2026, 06:40 PDT Advanced Micro Devices has settled two patent suits brought by Adeia and agreed to a multi-year license for the technology firm’s semiconductor intellectual property portfolio, ending a fight over manufacturing methods used in some AMD chips. The companies did not disclose financial terms. Reuters The timing matters. AMD is trying to turn recent AI orders into steadier growth after a softer first-quarter forecast in February renewed doubts about how fast it can narrow the gap with Nvidia. When AMD unveiled its Meta deal last month, Hargreaves Lansdown analyst Matt Britzman said Meta was “locking in supply” and “diversifying away from a single vendor.” Reuters Adeia’s November suits accused AMD of infringing 10 patents tied to hybrid bonding and chips using AMD’s “3D V-Cache” design. Hybrid bonding stacks chip parts with direct copper-to-copper links, while 3D V-Cache adds memory vertically to a processor to speed up some workloads. Reuters Adeia said the agreement resolves the litigation and could create room for future work. “Resolving our disputes allows both companies to move forward and creates an opportunity for exploring future collaborations on advanced semiconductor technologies,” Chief Executive Paul Davis said. AMD had denied the allegations in January court filings and did not immediately comment on the settlement. Reuters The cases were filed in the U.S. District Court for the Western District of Texas, and Adeia said it asked the Midland court to dismiss them. For AMD, that closes a dispute tied to packaging technology used across PC, server and AI products. Reuters Competition, though, is getting tighter. Nvidia Chief Executive Jensen Huang told analysts, “We love CPUs as well as GPUs,” the graphics processors that handle much of AI training, and Creative Strategies analyst Ben Bajarin said more autonomous AI software is pushing more computing back toward CPUs, the general-purpose chips AMD has long fought over ...

Volkswagen released their 2025 earnings on Tuesday, where it announced the company would target more cost reductions to protect profitability under pressure from competition, tariffs, electric vehicle development costs, and the War in Iran. Bloomberg TV’s Oliver Crook reports from Wolfsburg, Germany. (Source: Bloomberg)

美国食品药品监督管理局批准了一种已有数十年历史的处方维生素——亚叶酸，作为某些成人和儿童罕见遗传性疾病的首个治疗方法。 亚叶酸（Folinic Acid / Leucovorin）是叶酸的活性形式，进入人体后无需还原可直接利用。 此举是在特朗普政府数月前鼓吹亚叶酸可作为更广泛的有自闭症症状患者的潜在疗法之后做出的。 美国食品药品监督管理局官员表示，他们最初是对亚叶酸作为自闭症疗法进行广泛审查，之后才将其批准范围缩小至患有脑叶酸缺乏症（一种阻碍叶酸这种关键维生素正常到达大脑的疾病）的更小群体。 美国食品药品监督管理局周二批准了一种已有数十年历史的处方维生素——亚叶酸，作为某些成人和儿童罕见遗传性疾病的首个治疗方法。 此举是在特朗普政府数月前鼓吹亚叶酸可作为更广泛的有自闭症谱系障碍症状患者的潜在疗法之后做出的。这一说法引发了医学和研究界部分人士的怀疑，但却激发了家庭的热情，导致该药物在美国的处方量激增。 一位美国食品药品监督管理局官员周一告诉记者：“我们没有足够的数据可以说我们能够确定该药物对更广泛的自闭症有效”，但表示该机构对相关公司研究亚叶酸在自闭症人群中的应用持开放态度。 这种也被称为亚叶酸钙的药物是维生素B9的一种合成形式，一直用于治疗化疗的毒性副作用。仅有少数小型研究表明，亚叶酸作为自闭症儿童的标签外用药可能有效，一些家庭报告称，它帮助了他们无语言能力的孩子发展出更多的语言和社交技能。 要求匿名的美国食品药品监督管理局官员在讨论这一决定时告诉记者，他们最初是对亚叶酸作为自闭症疗法进行广泛审查，之后才将其批准范围缩小至患有脑叶酸缺乏症的更小群体。脑叶酸缺乏症是一种罕见的基因突变，阻碍叶酸这种关键维生素正常到达大脑。 这种疾病与自闭症有重叠特征，通常在2岁以下的幼儿中发病，可能导致严重的发育迟缓、癫痫、缺乏肌肉控制以及其他严重的神经系统并发症。 官员们表示，美国食品药品监督管理局发现，在该病症患者中使用亚叶酸产生了支持扩大适应症的“最高质量数据”，这一批准将适用于该药物的仿制药和 葛兰素史克 的老牌品牌药Wellcovorin。 一位美国食品药品监督管理局官员在电话会议上表示：“那些是我们看到效应量最大的数据。因此，我们将范围缩小到这个群体，只是因为我们觉得这是最有力的科学依据，而且治疗效应也最大，可以用来克服数据来源中的一些局限性。” 此次批准基于对该领域已发表...

乐惠国际（603076）公告，公司董事会审议通过提请股东会批准认购对象乐赢合伙免于发出要约的议案。乐赢合伙系公司实际控制人控制的企业，本次发行前控股股东及其一致行动人持股比例为50.01%。若按股票数量上限3621.04万股测算，发行后控股股东及其一致行动人持股比例将升至61.55%。董事会认为乐赢合伙取股份行为符合免于发出要约规定，该事项尚需提交股东会审议。

格隆汇3月10日｜比特币回落至7万美元下方，现报69940.7美元，过去24小时内涨1.67%。以太坊涨至2031.34美元，过去24小时内涨1.03%。

乐惠国际（603076）公告，拟向特定对象发行股票募集资金总额不超过3.5亿元，扣除相关发行费用后拟全部用于补充流动资金。本次发行对象为宁波乐赢，系公司实际控制人控制的企业，将以现金认购。发行股票数量不超过3621.04万股，发行价格不低于定价基准日前20个交易日公司股票交易均价的80%。募集资金将用于补充流动资金及偿还贷款，以缓解资金压力，提高盈利能力与经营稳健性。

The Hong Kong-based airline Cathay Pacific is selling seats from Sydney to London for more than £20,000 in April, as passengers search for scarce long-haul flights without changing in the Middle East. The tickets, listed at A$39,577 in business class for returns departing in mid-April, far outstrip the usual fares charged even in the first class cabin. Travellers on routes around the world have had to look for different options after the US-Israel war on Iran closed critical airspace and major hub airports in the Middle East. A large proportion of UK-Australia traffic connects in the Gulf, travelling on airlines including Dubai-based Emirates, Abu Dhabi’s Etihad and Qatar Airways out of Doha. The three biggest carriers have now restarted limited operations at a fraction of normal schedules, and hundreds of thousands of travellers have had their flights cancelled over 10 days of full or partial airspace closure in countries around Iran. Alternative long-haul connections, such as via Singapore, Hong Kong or Malaysia, have limited capacity. Economy flights via the Gulf in the same period remain on sale from around £1,100 return, the top end of the normal range according to Skyscanner, although bookings are mired in uncertainty as the war continues. Routes on carriers operating via China, India and Malaysia typically were listed at £1,400-£1,800. While April is a busier season, return UK-Australia fares on the route are more typically £3,000-£4,000 in business class and from £800 in economy. Cathay no longer had seats in economy class available to book on many dates in April but fares for the cheap seats started at around £1,800. Any passenger that now stumps up the A$39,577 fare will be travelling in mixed cabins – upgraded to first for some legs, but on certain departures, with the inconvenience of a stint in economy for an Australian short hop. The extraordinary fare exceeds the listed price for first class, available for a mere A$28,146 (£14,900) in April. Andrew Ch...

Plus: Exploring the conventional wisdom around how to invest during times of geopolitical uncertainty.

NVIDIA (NVDA.US) Invests in AI Startup Thinking Machines Lab and Supplies Vera Rubin Chips 富途牛牛

当地时间10日，俄罗斯外交部称，俄外长拉夫罗夫当天与伊朗外长阿拉格齐通话，双方继续就中东局势交换意见。俄方通报称，地区局势因美以对伊朗的“无端侵略”而急剧恶化。拉夫罗夫重申俄方原则立场，支持尽快缓和局势、推动事态重回政治外交解决轨道。俄方表示愿为此提供协助，强调调解过程中须兼顾伊朗及其地区邻国的安全利益。（央视新闻）

Source: Bloomberg, 0:00

March 10 (Reuters) - Amazon.com is targeting about $37 billion to $42 billion in its latest bond sale, Bloomberg News reported on Tuesday, citing ‌people familiar with the matter. The reported figure would mark one of ‌the latest corporate bond offerings as the company looks to fund its spending on artificial ​intelligence infrastructure build out. The company is offering bonds denominated in both dollars and euros, Bloomberg News reported. The Amazon Web Services parent is marketing U.S. high-grade bonds in as many as 11 tranches, according to a regulatory filing with the ‌SEC. Amazon did not immediately ⁠respond to a Reuters request for comment. The company's deal is the latest in a string of massive bond issuances by ⁠hyperscalers, as they prepare to invest hundreds of billions of dollars in AI infrastructure. Investor appetite for high-grade corporate debt has remained strong, with large technology issuers ​drawing ​significant attention as investors seek relatively safe ​yields. Bond markets have been receptive ‌to jumbo offerings this year, particularly from cash-rich hyperscalers looking to fund their long-term AI and cloud infrastructure ambitions. Analysts say the strong credit profiles of such technology firms and their central role in the AI buildout have helped sustain investor demand for their debt. In February, Google-parent Alphabet raised about $32 ‌billion in the U.S. and European high-grade bond ​markets, including a rare 100-year bond, the ​tech industry's first since Motorola's ​issuance that dates back to 1997, according to LSEG ‌data. Meanwhile, Oracle said last month that it ​expects to raise $45 ​billion to $50 billion in 2026 using a combination of debt and stock sales to build additional capacity for its cloud infrastructure. Amazon last tapped ​the market in ‌November, with a dollar-denominated bond issue worth about $15 billion, which was ​its first U.S. bond sale in three years. (Reporting by Akash Sriram ​in Bengaluru; Editing by Shinji...

格隆汇3月10日｜工业富联公告，公司于2026年3月10日召开第三届董事会第三十一次会议，审议通过了《关于<富士康工业互联网股份有限公司开展2026年度衍生性商品交易业务>的议案》。根据公司的经营预算，在符合公司开展衍生性商品交易业务的相关制度规定范围内，公司及子公司自本次董事会审议通过之日起至公司董事会重新审议该事项之日止，拟开展于任意时点总额不超过人民币530亿元的衍生性商品交易业务，额度可循环使用。

格隆汇3月10日｜据央视，当地时间10日，伊朗最高国家安全委员会秘书拉里贾尼说，伊朗人民不畏惧威胁。霍尔木兹海峡可能成为所有人和平共处的海峡，也可能成为好战者失败的海峡。拉里贾尼当天在社交媒体上回应美国总统特朗普“将对伊朗施以更猛烈打击”言论时说：“伊朗人民不畏惧你们（美国和以色列）空洞的威胁。比你们更强大的势力也未能消灭伊朗民族。”拉里贾尼还在另一条帖文中写道：“霍尔木兹海峡要么成为所有人的和平与繁荣之道，要么成为好战者的失败与苦难之道。”特朗普9日威胁说，如果伊朗采取任何阻断霍尔木兹海峡石油运输的行动，美国将对其施以“比以往猛烈20倍的打击”。

格隆汇3月10日｜马斯克表示，X Money（X平台支付业务）将于下月向公众开放早期使用权限。

Rapidan Energy Group says the 20% disruption from “Gulf War III” is more than double the prior record set in 1956-57.

nadla/iStock via Getty Images Setting The Stage I am bullish on BlackBerry Limited ( BB ) driven by the QNX segment which shows an impressive royalty backlog of $865 million. Although this is not a revenue guarantee, it reflects QNX's market potential. In my view, this is a signal of better days ahead. I view it from QNX OS 8.0 which could potentially drive revenues to $ 577.25 million in FY2027(7.42% YoY growth). This is an impressive improvement from the 0.47% YoY growth rate expected in FY2026. The QNX Core Serviceable Addressable market (Core SAM) is demonstrating impressive market potential with a CAGR of 8% and 12%. It is estimated to reach a market volume of $2.1 billion by Calendar Year (CY) 2026. This is a testament to the market tailwind and aligns with the QNX momentum, which is a reason to be optimistic. The company has been struggling with compressed margins, especially due to competitive pressure from its peers such as CrowdStrike Holdings, Inc. ( CRWD ). With these market tailwinds and a recovery in QNX, I think the stock's weak performance, down by 22% over the last one year and underperforming the market could be in for a rebound. Seeking Alpha How I View The QNX Segment I will take two perspectives in decoding what I think about QNX which are market tailwinds and internal optimism around QNX. Under the internal environment, my focus is on Core SAM (QNX Auto & GEM royalties) and strategic investments (QNX sound and vehicle platforms). I mentioned previously that when I look at the ecosystem around QNX through the lens of Core SAM and strategic investments, I am able to relate where a massive royalty backlog amounting to $865 million is generated from. In the next five years, strategic investments are estimated to increase substantially. This year (2026), strategic investments are estimated to reach $2.7 billion, and this is likely to increase to $5.9 billion by CY2028, which is a signal of projected improved SAM. BB The most exciting thing about thi...

Kingsoft Cloud Holdings Limited Sponsored ADR KC shares ended the last trading session 19% higher at $14.27. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 7.3% loss over the past four weeks. Kingsoft Cloud Holdings Limited Sponsored ADR benefits from AI and Intelligent Cloud, Public Cloud & Enterprise Cloud Services alongwith Xiaomi and Kingsoft ecosystem and technology and product development. This company is expected to post quarterly loss of $0.07 per share in its upcoming report, which represents a year-over-year change of -75%. Revenues are expected to be $378.12 million, up 23.7% from the year-ago quarter. While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. For Kingsoft Cloud, the consensus EPS estimate for the quarter has been revised 27.3% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on KC going forward to see if this recent jump can turn into more strength down the road. The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Kingsoft Cloud belongs to the Zacks Internet - Software industry. Another stock from the same industry, Getty Images Holdings, Inc. GETY, closed the last trading session 2.8% lower at $0.82. Over the past month, GETY has returned -28.1%. Getty Images Holdings, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.03. Compared to the company's year-ago EPS, this represents a change of +400%. Getty Images Holdings, Inc. currently boasts a Zacks Rank of #2 (Buy). Want the latest recommendations from ...

As of March 10, 2026, Microsoft Corporation (NASDAQ: MSFT) stands as a definitive titan of the "Intelligence Age." Having navigated the transition from a software-centric giant to a cloud leader, and now to the world’s premier AI infrastructure provider, Microsoft represents one of the most successful corporate evolutions in history. With a market capitalization fluctuating near the $4 trillion mark over the past year, the company remains a central pillar of global technology portfolios. Microsoft is currently in focus not just for its dominant market position, but for its role as the primary architect of the generative AI economy. Through its high-stakes partnership with OpenAI and the ubiquitous integration of "Copilot" across its tech stack, Microsoft has effectively set the pace for enterprise digital transformation. However, as 2026 unfolds, the company faces a complex landscape: maturing AI monetization, heightened regulatory scrutiny in Asia and Europe, and a massive capital expenditure cycle that is testing investor patience regarding near-term margins. Historical Background Founded in 1975 by Bill Gates and Paul Allen, Microsoft’s journey began with a vision of "a computer on every desk and in every home." The 1980s and 90s were defined by the dominance of MS-DOS and Windows, which established Microsoft as the gatekeeper of the personal computing era. This period of hyper-growth culminated in significant antitrust challenges in the late 1990s, leading to a decade of stagnation under Steve Ballmer, where the company missed the initial shift to mobile and search. The appointment of Satya Nadella as CEO in 2014 marked a radical transformation. Under his "Cloud First, Mobile First" mantra, Microsoft pivoted toward Azure and subscription-based software (SaaS). By 2023, the company entered its third major epoch: the AI Era. The multi-billion dollar investment in OpenAI and the rapid deployment of Large Language Models (LLMs) across its product suite catapulted Mi...

Advanced Machine Intelligence seeks to develop a new breed of AI systems that can better understand the real world than existing models.

The AI Hegemon: A Deep-Dive Stock Analysis of Microsoft (MSFT) in 2026 FinancialContent

The U.S. Department of Education headquarters is seen on March 06, 2025 in Washington, DC. Chip Somodevilla | Getty Images News | Getty Images A federal appeals court has ordered the end of the Saving on a Valuable Education, or SAVE, plan, the Biden-administration-era repayment program that brought lower monthly bills to millions of student loan borrowers. In a judgment issued late on Monday, the U.S. Court of Appeals for the Eighth Circuit reversed a lower court's dismissal of a Republican-led legal challenge against SAVE . The Biden administration introduced the SAVE plan in 2023, billing it as "the most affordable repayment plan ever created." Under the program, many borrowers expected to see their monthly bills cut in half. But Republican-led legal challenges quickly put the plan on ice. In February, Judge John Ross of the U.S. District Court for the Eastern District of Missouri dismissed the main lawsuit against SAVE. Consumer advocates and borrowers hoped that the development meant the program would be revived temporarily. President Donald Trump's " big beautiful bill " phases out the SAVE plan as of July 1, 2028 . Read more CNBC personal finance coverage SAVE plan used by millions of student loan borrowers is over, court orders Identity theft and your taxes: It's 'a terrible reverse lottery,' one victim says As Iran war disrupts oil prices, consumers could be 'hammered,' economist says Million-dollar earners have already stopped paying into Social Security for 2026 Women and the K-shaped economy: Lower pay, affordability issues reduce spending Small 401(k) accounts may follow workers to their next job — except Roth money In a jobs apocalypse, look to 'AI-proof' skilled trades, career experts say Middle-income homebuyers have $30,000 more buying power than a year ago Average IRS tax refund is up 10.6%, early filing data shows GOP 'big beautiful bill' to deal 'shock' to the ACA marketplace: health experts As millions claim Trump's 'no tax on overtime' deductio...

格隆汇3月10日｜工业富联公告，公司通信及移动网络设备2025年实现营收2,978.51亿元，同比增长3.46%，出货量与市场份额均保持行业领先。2025年，公司持续深化与全球主要通信设备品牌商的战略合作关系，推动高速交换机、路由器等产品的技术迭代与产能优化。随着数据中心网络向400G/800G乃至1.6T过渡，公司800G以上高速交换机产品需求井喷，高速交换机业务在2024年同期高倍数增长的背景下，延续强劲发展势头。

格隆汇3月10日｜工业富联公告，2025年，公司云计算业务盈利能力持续提升，AI相关业务占比显著提高，成为推动业绩增长的重要动力。报告期内，云计算业务实现营业收入6,026.79亿元，同比增长88.70%，成为公司业务增长的重要引擎。报告期内，云服务商AI服务器营业收入同比增长超过3倍，GPU与ASIC方案相关产品均实现快速增长，进一步巩固了公司在全球AI服务器市场的龙头地位。

Thales Antonio/iStock Editorial via Getty Images A Rapid Recap In my last article on Petrobras ( PBR ), I took a directionally mistaken bearish call. Earlier this year, my bearish case for the Brazilian oil giant was based mainly on a more negative macro outlook for oil. My thesis was that the global market could enter a period of structural oversupply, with weaker demand growth— especially from China—at the same time as non-OPEC+ production would continue to rise. And that wasn't a thesis out of thin air. Firstly, Brent was sideways in the US$60 range throughout the second half of 2025, historically coinciding with structural oversupply cycles. Trading Economics Secondly, Petrobras' own behavior, entering a new cycle of high CapEx with more than US$100 billion foreseen in the strategic plan and a strong concentration in E&P—basically making the company a leveraged call on oil—i.e., increasing operational exposure precisely in an oil cycle that seemed (before the conflicts in the Middle East) less favorable. And the third and final point was the most important for my structural bearish call over a medium to long-term horizon, being the question of economic breakeven. Looking only at Petrobras' low lifting cost could be misleading when what would matter for the thesis would be the cash breakeven after CapEx, leasing, and dividends. Once you consider these three points, Brent oil would need to simultaneously sustain these investments at a minimum of between US$65 and US$70 per barrel, which would essentially make the PBR thesis extremely sensitive to only “average” Brent. Precisely because PBR was a “leveraged call” on Brent oil, the escalation of conflicts in the Middle East, which culminated in Brent going from $59.9 in mid-December last year to over $100 in a matter of a couple of months, caused oil stocks, including PBR's ADR, to soar. Data by YCharts Naturally, it's not wise to hold a bearish position on Brent oil at these levels, but it's also necessary to disti...

US natural gas futures fell for a second day as weather forecasts shifted warmer, indicating lower demand for the heating and power-plant fuel. Declines in European natural gas and oil prices as US President Donald Trump late Monday predicted a swift end to the Middle East war have also put downward pressure on US gas, which has been modestly buoyed over the past week by surging global energy prices. “While [US] natural gas is tracking oil due to technical correlations and massive financial inflows into energy, the probable decoupling of oil and natural gas with the end of the war is a likely bearish catalyst for natural gas into spring,” Eli Rubin , senior energy analyst at EBW Analytics Group, wrote in a Tuesday note to clients. Futures for April delivery -8.5c, or -2.7%, to $3.035/mmbtu on Nymex, as of 9:28am ET Benchmark European gas futures -9.1% Benchmark US oil futures -6.5% Weather: Above-average temperatures were expected across most of the US through March 14 and across the Western US from March 15-24: Commodity Weather Group See WHUT for a map of latest 6-10 day weather forecast: NOAA Click here for two-week temperature forecasts for the U.S. Daily BNEF Gas Data: Lower-48 dry gas production on Tuesday ~112.3 bcf/day, or +4.2% y/y Lower-48 total gas demand on Tuesday ~74.4 bcf/day, or -6.7% y/y Dry gas exports to Mexico on Tuesday ~6.7 bcf/day, or +2.1% w/w Estimated gas flows to LNG export terminals on Tuesday ~19.7 bcf/day, or +5.6% w/w Gas Market News: European Gas Drops Amid Trump’s Efforts to Calm Energy Markets Asian Buyers Struggle to Find March LNG as Supply Remains Tight US LNG Transits Fall to Lowest Since February 2025: BNEF Chart Abu Dhabi Refinery Halt Adds to Oil Market Tensions: TOPLive

格隆汇3月10日｜国内SC原油期货主力合约跌幅扩大至10.84%，报653元/桶；燃油期货主力合约跌幅扩大至6.41%，报4248元/吨。

Torsten Asmus/iStock via Getty Images While positioning is increasingly bullish and warrants selectivity, we remain constructive on risk assets, with a continued focus on earnings durability, balance sheet strength, and "diversification" as we enter 2026. - Harbor Multi-Assets Solutions Team Market in Review The fourth quarter of 2025 marked a period of consolidation for global equity markets, as investors balanced moderating economic momentum against supportive financial conditions and resilient corporate fundamentals. While volatility remained relatively contained, market leadership narrowed and dispersion increased, reflecting a more selective risk environment into year-end. Macroeconomic conditions continued to normalize during the quarter. Inflation remained broadly subdued, while labor market data pointed to further cooling beneath the surface, including softer hiring activity and moderating wage growth. Following the Federal Reserve's ("Fed") initial rate cut in September, policy expectations during the fourth quarter centered on the outlook for 2026 rather than additional near-term adjustments. Equity returns were positive but modest. Global equities, as measured by the MSCI ACWI Index, advanced 3.37% during the quarter. U.S. equities also posted gains, with the S&P 500 rising 2.66%, while small-cap stocks lagged as the Russell 2000® returned 2.19%. Performance divergence reflected investor preference for earnings visibility and balance sheet strength amid slowing growth momentum. At the sector level, leadership was concentrated. Within the S&P 500, Health Care was the top-performing sector, rising 11.7%, followed by Communication Services, which gained 7.3%. Both sectors benefited from Artificial Intelligence ("AI")-linked innovation and improving productivity dynamics. Performance across the remaining sectors was relatively muted, underscoring a late-cycle environment where returns were driven by specific secular themes rather than broad-based expansion. P...

Oklo (OKLO +1.65%) is one of several companies seeking to change how nuclear power is generated. One of the biggest benefits of Oklo's technology is that its reactors are designed to use recycled nuclear fuel. The U.S. government is interested in the technology, and Oklo already has a power supply deal with Meta (META +1.21%) for a reactor project that is still in development. But should you buy Oklo, thinking it will turn you into a millionaire? Oklo's stock has been a rollercoaster ride The graph below has two sides. In the first part, the stock is steadily rising, reaching a peak gain of around 470%. The second part is a steady decline, leaving the stock with a gain of around 100% over the full period. It is hard to complain about a 100% gain over a 52-week span, but sticking around as the stock lost nearly two-thirds of its value would likely have been difficult for most investors. And that doesn't even consider the five drawdowns of around 20% before the stock began to head steadily lower. This is a stock that only the most aggressive growth investors should consider buying. The opportunity could be material but there's still a lot of work to be done The rise in Oklo's stock price was driven by emotion. It came at a time when investors were excited about nuclear power and nuclear power stocks. At the leading edge of the nuclear power industry, technology-wise, Oklo was caught up in the excitement. That's not unjustified but the stock clearly got ahead of itself, given the swift and dramatic retreat from the 52-week highs. Expand NYSE : OKLO Oklo Today's Change ( 1.65 %) $ 1.02 Current Price $ 62.80 Key Data Points Market Cap $9.7B Day's Range $ 61.66 - $ 63.05 52wk Range $ 17.42 - $ 193.84 Volume 22K Avg Vol 11M Oklo is a money-bleeding upstart. And it will likely remain so for years to come, as it spends heavily to build out its business. In fact, the Meta deal is really a funding agreement, with Meta pre-paying for power so that Oklo can use that cash to buil...