Stock traders triggered a euphoric rally on Tuesday afternoon, piling into US equities after Iran’s official news agency said the country’s president was willing to end its war with America. The S&P 500 Index extended gains following the report, rising as much as 2.7% for its biggest intraday advance since May. About three quarters of stocks on the benchmark were up as US oil prices gave up their ...
Stock traders triggered a euphoric rally on Tuesday afternoon, piling into US equities after Iran’s official news agency said the country’s president was willing to end its war with America. The S&P 500 Index extended gains following the report, rising as much as 2.7% for its biggest intraday advance since May. About three quarters of stocks on the benchmark were up as US oil prices gave up their gains on the day. One indicator of investors’ voracious appetite is the Tick Index, which measures the amount of equities on the New York Stock Exchange moving higher versus lower on a second-by-second basis. It spiked to 2,329 on Tuesday, the highest level on record. The headline from Iran added to investor optimism, which was spurred by a Wall Street Journal article that said President Donald Trump would be willing to exit the conflict even with the Strait of Hormuz largely closed. “Investors are clearly anxious for certainty and an end to the war, so any indication from either side that we may be close is seen as bullish,” said Brian Nick , head of portfolio strategy at Newedge Wealth. However, without a clear sign that the two sides are coming closer to a resolution, Nick said he isn’t ready to call a bottom on stocks. Implied volatility in S&P 500 options jumped across the curve, with call options that bet on gains in the index seeing the biggest advance. “Traders are either outright betting on a big post-war rally or using upside calls to insure their stock sales against that prospect,” said Steve Sosnick , chief strategist at Interactive Brokers. The Cboe Volatility Index fell to 26, while a gauge of implied volatility in the Nasdaq Index 100 declined to 29. Shares of energy companies gave up gains after the Iranian president’s reported comments, with both Exxon Mobil Corp. and Chevron Corp. falling by more than 2%. Fuel-hungry airlines rallied, with shares of Delta Air Lines Inc. and American Airlines Group Inc. both rising at least 6% during the session. “Multiple ...
Vale Base Metals executives emphasized a focus on developing existing assets instead of chasing acquisitions at an investor event while downplaying the likelihood of a near-term initial public offering of the Vale SA unit. “Organic growth is the best way to add value for us,” Vale Base Metals Chief Executive Officer Shaun Usmar told reporters after the company’s first investor day event, held Tues...
Vale Base Metals executives emphasized a focus on developing existing assets instead of chasing acquisitions at an investor event while downplaying the likelihood of a near-term initial public offering of the Vale SA unit. “Organic growth is the best way to add value for us,” Vale Base Metals Chief Executive Officer Shaun Usmar told reporters after the company’s first investor day event, held Tuesday in Toronto. “A lot of the consolidation doesn’t necessarily add to immediate increases in volumes that the planet needs.” The CEO’s comments came in response to a question on whether Vale Base Metals was seeking large-scale merger opportunities, four months after reports it had engaged in talks with Teck Resources Ltd. Usmar joined Vale in 2024, about a year after the Brazilian mining company separated its base metals business from its iron ore operations and sold a 10% stake to Saudi Arabia. He was tasked with turning around the struggling copper-and-nickel division — which operates mines in Brazil and Canada and has joint ventures in Indonesia — and preparing it for a potential listing. Being ready to pursue an IPO requires both the market window and an organization ready to pull the trigger, Usmar said. Read More: Vale Base Metals Aims to Be IPO-Ready by Midyear, CEO Says Vale has talked about doing an IPO of its base metals business for more than a decade , though there was no discussion of such plans during Tuesday’s formal presentation. Usmar told BNN Bloomberg Television earlier this month that he’s aiming to get the business “IPO-ready” by around the middle of this year. Vale Chief Financial Officer Marcelo Bacci , who also attended the event, suggested the timing isn’t right since today’s market wouldn’t pay for the unit’s growth potential. Vale Base Metals reiterated its goal of about doubling its annual copper production to approximately 700,000 metric tons a year by 2035, along with highlighting other projects that could allow to expand and extend the life o...
Twitter shareholders gained traction in another lawsuit against Elon Musk over the run up to his 2022 buyout of the social media platform, with a judge granting class-action status to the investors. The investors claim they were harmed when Musk secretly amassed more than 13 million in Twitter shares for 11 days starting on March 25, 2022. US District Judge Andrew Carter in New York ruled the inve...
Twitter shareholders gained traction in another lawsuit against Elon Musk over the run up to his 2022 buyout of the social media platform, with a judge granting class-action status to the investors. The investors claim they were harmed when Musk secretly amassed more than 13 million in Twitter shares for 11 days starting on March 25, 2022. US District Judge Andrew Carter in New York ruled the investors can sue together in a single case, amplifying their leverage to force a settlement or go forward to trial. The judge cited the investors’ claims of his late filings to the US Securities and Exchange Commission, his alleged posting of “misleading tweets about Twitter’s future” and “a coordinated trading strategy to silently build up” his position in the social media company. The case was filed in April 2022. Earlier this month, in a separate investor lawsuit in San Francisco a jury found Musk misled the investors in 2022 when he tweeted that Twitter — now called X — had too many fake accounts and then tried to back out of his $44 billion offer to buy the company. The investors who sued claimed Musk acted intentionally and they lost money when the shares fell. Musk’s legal team has vowed to appeal the verdict. Jurors in the San Francisco case found Musk liable to Twitter investors for misleading them with two tweets he posted in May 2022 stating concerns about the prevalence of fake accounts on the platform. Jurors rejected a claim in the class-action case that a third Musk statement violated federal securities law as well as an allegation that the billionaire waged a broader scheme to defraud investors.
Visa shares are trading near $298, down roughly 14% year to date, even as the company posted one of its strongest quarters in recent memory. That gap has drawn attention in r/stocks, where the stock appeared in a post listing quality names trading near 52-week lows. A post titled “Quality Companies at 52 Week Lows” ... Visa Is Down 14% This Year While Analysts See 33% Upside From Here
Visa shares are trading near $298, down roughly 14% year to date, even as the company posted one of its strongest quarters in recent memory. That gap has drawn attention in r/stocks, where the stock appeared in a post listing quality names trading near 52-week lows. A post titled “Quality Companies at 52 Week Lows” ... Visa Is Down 14% This Year While Analysts See 33% Upside From Here
Getty Images Written by Nick Ackerman, co-produced by Stanford Chemist With the broader equity market showing greater volatility and entering into pullback territory, and even into correction territory for the tech-heavy Nasdaq, closed-end funds are also seeing wider discounts. The discount/premium mechanic is a function of the supply/demand of CEFs that makes them fairly unique. Unlike exchange-t...
Getty Images Written by Nick Ackerman, co-produced by Stanford Chemist With the broader equity market showing greater volatility and entering into pullback territory, and even into correction territory for the tech-heavy Nasdaq, closed-end funds are also seeing wider discounts. The discount/premium mechanic is a function of the supply/demand of CEFs that makes them fairly unique. Unlike exchange-traded funds, there is no redemption/creation mechanism to keep the shares trading close to the net asset value per share. That can create opportunities for investors willing to take on the greater overall volatility that this provides. Oftentimes, during broader market declines, we see discounts widen more broadly in CEFs. This can usually happen as investors start to sell first and ask questions later. Today, I wanted to highlight two CEFs that look like they are interesting buys amid the overall declines. #1 PIMCO Dynamic Income Opportunities Fund ( PDO ) 1-Year Z-score: -4.09 Discount/Premium: -2.43% Distribution Yield: 12.34% Expense Ratio: 1.75% (4.33% with leverage) Leverage: 34.51% Managed Assets: $2.976 billion Structure: Term (anticipated term date January 27, 2033) PDO is designed to provide "current income as a primary objective and capital appreciation as a secondary objective." This is pretty standard for the PIMCO funds and most CEFs. They go on to mention how they will attempt to achieve this: The fund will normally invest at least 25% of its total assets in mortgage-related assets issued by government agencies or other governmental entities or by private originators or issuers. The fund may invest up to 30% of its total assets in securities and instruments that are economically tied to "emerging markets" and countries; however, the fund may invest without limitation in short-term investment-grade sovereign debt issued by emerging market issuers. The fund may normally invest up to 40% of its total assets in bank loans (including, among others, senior loans, d...
Nothing Technology Ltd. is working on artificial intelligence-enhanced smart glasses, looking to expand its lineup beyond smartphones and audio gear. The London-based startup is planning to release the glasses during the first half of 2027, according to people with knowledge of the matter. Nothing is also working on new earbuds for later this year with AI-focused features, said the people, who ask...
Nothing Technology Ltd. is working on artificial intelligence-enhanced smart glasses, looking to expand its lineup beyond smartphones and audio gear. The London-based startup is planning to release the glasses during the first half of 2027, according to people with knowledge of the matter. Nothing is also working on new earbuds for later this year with AI-focused features, said the people, who asked not to be identified because the plans haven’t been announced. Nothing Chief Executive Officer Carl Pei was initially resistant to launching glasses, but he recently told employees that he’s now focused on a multidevice strategy, the people said. There’s a growing field of companies pursuing smart glasses, with Alphabet Inc. ’s Google and Apple Inc. looking to challenge Meta Platforms Inc. in the market. Nothing’s glasses — outfitted with cameras, microphones and speakers — will rely on smartphones and the cloud to handle AI processing. The idea is to help automate tasks and offer a more personalized experience. Nothing is known for its unique aesthetic: The startup’s phones have arrays of LED lights and transparent backs, and its headphones feature square-shaped ear pads. The company is planning to apply that same design approach to the glasses, according to the people. The company recently released two new phones, a low-end 4a and a mid-tier 4a Pro. But Nothing held off on updating its flagship 3 model, which competes with phones from Apple and Samsung Electronics Co. at the higher end. The 4a’s reception has been positive due to its pricing and design. Nothing has been focused on growing in emerging markets, including India and parts of Europe, but hasn’t made a dent in the US. Last year, the company raised a Series C funding round worth $200 million, bringing its total valuation to $1.3 billion. Its backers include GV, formerly Google Ventures, and Qualcomm Ventures. Read More: Smartphone Maker Nothing Raises $200 Million to Build AI Devices While Nothing remains sma...
Colombia’s central bank delivered a full percentage-point increase to its key interest rate after Finance Minister German Avila walked out of the policy meeting, underscoring a deepening rift between President Gustavo Petro ’s government and the monetary authority. The bank decided to raise borrowing costs to 11.25% on Tuesday, Governor Leonardo Villar announced after the meeting. After a hike of ...
Colombia’s central bank delivered a full percentage-point increase to its key interest rate after Finance Minister German Avila walked out of the policy meeting, underscoring a deepening rift between President Gustavo Petro ’s government and the monetary authority. The bank decided to raise borrowing costs to 11.25% on Tuesday, Governor Leonardo Villar announced after the meeting. After a hike of the same size in January, the move was expected by 24 of 28 economists surveyed by Bloomberg, while the rest forecast a smaller, 75-basis-point increase. The decision comes amid a growing clash between Petro and the central bank over interest rates, with the leftist leader accusing policymakers of trying to sabotage his government just months before presidential elections. Most board members remain focused on above-target inflation, particularly after the government raised the minimum wage by a record 23% earlier this year. Speaking to reporters before the central bank’s press conference, Avila said he would not return to the bank’s board, where he is a voting member, unless certain conditions are met. He added that Petro’s administration would not “validate” the rate decision, without elaborating on the potential implications. Avila has repeatedly voted to cut borrowing costs, arguing that high interest rates are themselves inflationary. Petro has also urged policymakers to ease monetary policy despite the outlook for prices. Economists surveyed by the central bank see inflation accelerating to 6.26% this year before easing to 4.8% by the end of 2027. If the forecasts prove accurate, the bank would miss its inflation target for a seventh consecutive year. Middle East War War in Iran represents a “major threat” to Colombia’s economy, which was already facing significant price pressures, Olga Lucía Acosta , the bank’s co-director, said in an interview earlier this month. She added that the economy is showing signs of overheating, as “vigorous” demand outpaces output. While C...
JHVEPhoto/iStock Editorial via Getty Images Pfizer ( PFE ) is preparing to shut a research site and an office location in South San Francisco at the end of April, signaling a notable pullback from the Bay Area’s flagship biotech space, the San Francisco Chronicle reported on Tuesday. In the past, the sickle cell disease drug developer Global Blood Therapeutics had operated the research site as its...
JHVEPhoto/iStock Editorial via Getty Images Pfizer ( PFE ) is preparing to shut a research site and an office location in South San Francisco at the end of April, signaling a notable pullback from the Bay Area’s flagship biotech space, the San Francisco Chronicle reported on Tuesday. In the past, the sickle cell disease drug developer Global Blood Therapeutics had operated the research site as its global headquarters. Pfizer ( PFE ) laid off 52 employees at the location two years after its $5.4B acquisition of Global Blood Therapeutics in 2022. While it’s not immediately clear how many Pfizer ( PFE ) employees were based out of the 181 Oyster Point Blvd. facility, Jerica Pitts, a spokesperson for the COVID-19 vaccine maker, said that all currently “designated to the site will transition to remote roles.” “After careful evaluation, Pfizer has decided to close its South San Francisco office as the office space is currently underutilized,” she noted, adding, “Pfizer continues to maintain a strong presence in California, including its facilities in San Diego.“ The decision could suggest that the New York-based pharma giant, which was once a leading tenant in the city's life sciences space, is ending its presence in the Bay Area, according to the report. More on Pfizer Pfizer: Why Wall Street Habitually Overestimates Target Price Why Pfizer Remains A Strong Buy In 2026 Pfizer: Undervalued High-Yield Giant With A Pipeline Built For The Next Decade FDA ready to allow compounding pharmacies to make injectable peptides - report Is Trump to blame for delayed drug launches in Europe
Lean hog futures are facing 5 cent to $1 losses so far on Tuesday. USDA’s national base hog price was reported at $90.37 on Tuesday morning. The CME Lean Hog Index was down another 42 cents on March 27 at $90.76. USDA’s pork carcass cutout value from the Tuesday AM...
Lean hog futures are facing 5 cent to $1 losses so far on Tuesday. USDA’s national base hog price was reported at $90.37 on Tuesday morning. The CME Lean Hog Index was down another 42 cents on March 27 at $90.76. USDA’s pork carcass cutout value from the Tuesday AM...
Cotton futures are retreating from early session strength on Tuesday, as contracts are up just 9 to 14 points. The US dollar index is $0.408 lower at $99.945. Crude oil futures are up $1.71 to $104.59 on the day. March Prospective Plantings data from this morning showed cotton acres seen...
Cotton futures are retreating from early session strength on Tuesday, as contracts are up just 9 to 14 points. The US dollar index is $0.408 lower at $99.945. Crude oil futures are up $1.71 to $104.59 on the day. March Prospective Plantings data from this morning showed cotton acres seen...
Soybeans are getting a double digit bounce on Tuesday’s midday, with futures up 10 to 14 cents in the 2026 contracts. The cmdtyView national average Cash Bean price is up 8 ¼ cents at $10.95. Soymeal futures are up $1.90 to $2.30 at midday, with Soy Oil futures 60 to...
Soybeans are getting a double digit bounce on Tuesday’s midday, with futures up 10 to 14 cents in the 2026 contracts. The cmdtyView national average Cash Bean price is up 8 ¼ cents at $10.95. Soymeal futures are up $1.90 to $2.30 at midday, with Soy Oil futures 60 to...
Live cattle futures are up $1.30 to $1.65 at Tuesday’s midday. Cash trade has yet to get kicked off this week, as last week settled in at $234-235 sales and $238 late in the south. Feeder cattle futures are up $2.95 to $3.22 at midday. The CME Feeder Cattle Index...
Live cattle futures are up $1.30 to $1.65 at Tuesday’s midday. Cash trade has yet to get kicked off this week, as last week settled in at $234-235 sales and $238 late in the south. Feeder cattle futures are up $2.95 to $3.22 at midday. The CME Feeder Cattle Index...
The wheat complex is getting a double digit positive reaction to the USDA acreage report this morning. Chicago SRW futures are 11 to 12 1/2 cents higher. KC HRW futures are up 16 to 17 cents at midday. MPLS spring wheat is rallying 10 to 11 cents on the Tuesday...
The wheat complex is getting a double digit positive reaction to the USDA acreage report this morning. Chicago SRW futures are 11 to 12 1/2 cents higher. KC HRW futures are up 16 to 17 cents at midday. MPLS spring wheat is rallying 10 to 11 cents on the Tuesday...
The Evercade Nexus will launch at $199.99 when preorders open. | Image: Evercade After releasing smaller versions of its handhelds, Evercade has announced a new portable console called the Nexus featuring a large 5.89-inch screen. That's larger than the 4.3-inch screen on Evercade's previous handheld, the EXP-R . The Nexus' display also delivers a small bump in resolution from 800×480 pixels to 84...
The Evercade Nexus will launch at $199.99 when preorders open. | Image: Evercade After releasing smaller versions of its handhelds, Evercade has announced a new portable console called the Nexus featuring a large 5.89-inch screen. That's larger than the 4.3-inch screen on Evercade's previous handheld, the EXP-R . The Nexus' display also delivers a small bump in resolution from 800×480 pixels to 840×512, and a switch from a 4:3 aspect ratio to 16:9. The handheld will be available for preorder starting on April 1st for $199.99, and is expected to ship in October 2026. As with previous versions of Evercade's handhelds, including its Super Pocket lineup , the Nexus doesn't have an app store, won't play ROMs, and isn't compati … Read the full story at The Verge.