Yanleth Rivera U.S. President Donald Trump announced that Iran has offered the U.S. a “present” as a show of good faith amid ongoing negotiations to end a 25-day conflict that has upended global markets. Trump declined to detail the gift, which he described as “worth a tremendous amount of money,” but confirmed it was related to energy flows through the Strait of Hormuz, with Iran’s Tasnim news agency reporting that a Thai ship passed through the vital waterway on Tuesday. The negotiations involve a high-profile team including Vice President JD Vance, Secretary of State Marco Rubio, and special envoys Steve Witkoff and Jared Kushner. Trump’s diplomatic optimism stood in contrast to the Pentagon’s simultaneous deployment of additional ground troops to the region. “They’re talking to us, and they’re talking sense. It all starts with they cannot have a nuclear weapon,” Trump told reporters at the White House. The president claimed Iran is eager to reach an agreement, asserting that the two sides have already agreed on some parameters of a potential deal. “They want to make a deal so badly, you have no idea how badly they want to make it,” Trump said, adding his bold declaration: “We’ve won this war.” When asked about finalizing an agreement, Trump expressed cautious optimism while acknowledging uncertainty remains. “I think we’re going to end it; I can’t tell you for sure,” he said, reiterating that preventing Iran from obtaining nuclear weapons remains the non-negotiable starting point of any deal. More on oil markets Is The War Taking A New Turn? - WTI Technical Analysis Why U.S. Energy Stocks And Gold Could Win Big Wall Street Lunch: Big Trades Ahead Of Announcements Raise Questions Carlyle’s Jeff Currie on why the U.S. will be the last to feel energy disruptions What the gold-crude ratio signals amid diverging market drivers: Saxo Bank

格隆汇3月25日｜据外媒报道，苹果公司正在为其Siri语音助手测试一款独立应用，并同时测试一项全新的“Ask Siri”功能，该功能将贯穿其所有软件，这是苹果更大规模人工智能改造的一部分。据知情人士透露，苹果还正通过赋予Siri全新外观和类似聊天机器人的体验来对其进行现代化改造。知情人士表示，新款Siri计划于6月8日在苹果全球开发者大会上亮相，作为iOS 27和macOS 27操作系统的一部分。

知情人士表示，OpenAI即将从投资者那里获得约100亿美元的新资金，从而将其估值提高到8500亿美元，其中包括筹集到的资金，这证实了彭博新闻社早些时候的报道。 该人士称，投资者包括阿布扎比的MGX、Coatue和Thrive Capital。Altimeter Capital预计也将参与本轮融资。该笔交易有望在下周敲定。 新增资金将使OpenAI最新一轮融资的总融资额达到约120亿美元，凸显出投资者对人工智能公司的强劲需求。 讨论仍在进行中，最终的投资规模可能会发生变化。 这家ChatGPT制造商上个月表示，它正在从 亚马逊 公司、英伟达和 软银 集团等支持者那里筹集110亿美元，因为它正在加大计算基础设施和人才方面的支出。 责任编辑：李桐

韩国SK海力士正在权衡一项可能重塑全球投资者获取AI内存周期最大受益者之一渠道的举措。据报道，这家韩国芯片制造商正在探索通过美国存托凭证在美国上市，可能筹集10万亿至15万亿韩元，以期扩大产能并更深度地参与与人工智能相关的激增需求。根据报道，所得资金可能用于建设AI基础设施，包括在龙仁的一个半导体集群，同时支持其内存业务的进一步扩张。 该公司管理层尚未确认最终决定，指出包括ADR上市在内的各项股东价值举措仍在审查中，尚未最终确定。尽管如此，潜在的理由正变得越来越清晰。在美国上市可能使SK海力士接触到更广泛的机构投资者基础，并可能有助于缩小其与已受益于美国强大参与度的全球同行之间的估值差距。该公司一直是内存上行周期中最大的受益者之一，其股价在过去一年上涨了364%，为韩国综合股价指数110%的涨幅做出了贡献。 投资者正密切关注，因为先例表明上市地点的变更可以影响估值结果。 台积电 的ADR有助于吸引主动型和被动型资金流入，有时其与台北上市股票的价差超过30%。SK海力士也已采取措施支持股东回报，取消了约1530万股价值约12.2万亿韩元的库存股，而潜在的ADR发行——估计约占流通股的2.4%——可能与这一做法相符。该公司还已向投资银行发出提案请求以选择上市安排人，表明即使最终决定尚未做出，准备工作可能已经在进行中。 责任编辑：张俊 SF065

Broadcom is the one stock to own to play the rise of million-chip XPU data centers.

Iran said foreign ships are allowed to cross the Strait of Hormuz, as long as they aren’t supporting acts of aggression against the country and follow regulations put in place by Tehran. The nation made the comments in a letter circulated to members of the International Maritime Organization on Tuesday, adding that countries could benefit from safe passage “in co-ordination with the competent Iranian authorities.” The original letter from Iran was dated March 22, the IMO said. Iran has started charging transit fees on some commercial vessels passing the Strait of Hormuz, people familiar with the matter have said, the latest sign of its control over the world’s most important maritime energy route. The war in the Middle East has all-but halted traffic through the waterway — a small handful of ships appear to have transited through by taking a route that hugs the Iranian coastline. “Non-hostile vessels, including those belonging to or associated with other states, may - provided that they neither participate in nor support acts of aggression against Iran and fully comply with the declared safety and security regulations — benefit from safe passage through the Strait of Hormuz in co-ordination with the competent Iranian authorities,” the letter said. Iran said it “restricted the passage of vessels belonging to or associated with the aggressors and those participating in their acts of aggression.” It added that the full restoration of security and stability in the Strait is contingent on the end of military threats in the region.

Mizuho Financial Group Inc. has hired Fil Stosic from Morgan Stanley as co-head of leveraged finance capital markets, according to a person familiar with the matter. Stosic, who will be a managing director in New York, will report to Jeb Slowik , who heads the leveraged finance team in the Americas, the person said, asking not to be identified because the matter is private. Representatives for Mizuho and Morgan Stanley declined to comment. Mizuho acquired Greenhill & Co. in 2023 as the Japanese bank sought to accelerate growth and expand its investment banking business. Since then, the lender has been recruiting dealmakers from competitors to build its leveraged finance business, Blooomberg News previously reported. Read More: Mizuho Taps Ex-Ontario Teachers Executive Frank as EMEA Adviser

ZenSaBi/E+ via Getty Images Since the last time I covered Palo Alto Networks, Inc. ( PANW ) in March 2023, it has gained more than 70% and was trading around $166 at the time of writing, as shown below. At that time, I was bullish because of the breadth of its portfolio and its ability to provide end-to-end solutions. However, the stock has been highly volatile since November last year, initially because of AI bubble concerns, but later it was negatively impacted by disruption fears after AI startup Anthropic ( ANTHRO ) demonstrated how easy it was to create applications that normally take weeks to be built by software and cybersecurity companies employing armies of developers. Data by YCharts This thesis aims to show that the market has punished the stock too hard, given that it has continued to broaden its portfolio through new acquisitions, while offering new products through its platform, as part of its platformization strategy. Another reason for being bullish is that while disruption fears are real, as I explain below, Palo Alto appears relatively more insulated because it also sells hardware products compared to pure-play software cybersecurity providers. Explaining AI-Related Disruption, which has nonetheless been less Brutal for Palo Alto The main fear surrounding disruption started to emerge around January 13 when AI startup Anthropic released the Cowork tool, based on the Claude LLM or large language model. This AI agent showed that non-specialists can perform certain software development tasks that currently require professional effort. Subsequently, Claude released some plugins (or connectors for accessing third-party applications) on January 30, which enhanced Cowork capabilities in some of the areas where software development companies get paid to create applications. This meant competition, and the market reaction was brutal towards both software and cybersecurity, as shown in the chart below, with the phenomenon termed the " SaaS apocalypse ." Data ...

OpenAI料将不再维护文生视频平台Sora的APP。（华尔街日报）

据英国《金融时报》周二援引一封信函报道，伊朗已告知国际海事组织（IMO）成员国，只要与伊朗当局协调，“非敌对船只”可通过霍尔木兹海峡。 美国和以色列对伊朗的战争几乎完全阻断了约占全球五分之一的石油和液化天然气通过霍尔木兹海峡的运输，导致石油供应中断。 在周二分发给IMO成员国的信函中，伊朗外交部表示，德黑兰已“采取必要且相称的措施，以防止侵略者及其支持者利用霍尔木兹海峡对伊朗实施敌对行动”。 德黑兰在信中表示，与美国和以色列有关联的船只，以及“其他参与侵略各方”的船只，均不符合无害通过或非敌对通过的条件。 责任编辑：李桐

至少三家丹麦机构投资者支持一项股东决议，敦促北欧地区最大的银行Nordea停止为扩大北极石油和天然气生产的公司提供融资，理由是环境风险。 丹麦养老基金Akademiker、Sampension和Velliv透露了他们在周二银行年度股东大会前的投票意向。 这一激进决议出台之际，正值伊朗战争引发的石油冲击，且挪威宣布计划在其北极近海区域增加钻探活动。 该决议针对挪威能源公司Equinor、Aker BP和Var Energi，这些公司参与了北极地区的勘探和钻探。 “高环境风险” 决议敦促Nordea与北欧竞争对手Danske Bank、Swedbank、Handelsbanken、Nykredit和OP Financial Group保持一致，停止向在北极圈以北扩大油气活动的公司提供贷款。 该提案的起草者之一、北欧可持续金融中心高级顾问卡特琳·埃恩胡斯表示：“脆弱的北极生态系统正面临成为挪威油气生产新中心的危险。” Nordea表示，它不专门为油气扩张或北极钻探提供融资，但将继续为某些公司提供资金。 该行在一份电子邮件声明中表示：“我们继续支持少数精心挑选的公司，这些公司在确保欧洲负担得起且安全的能源供应方面发挥着重要作用。” Nordea是参与为Equinor提供50亿美元循环信贷额度的19家银行之一，Equinor在其债务报告中称，该额度“作为集团在美国商业票据市场借款的后备融资”。 Velliv负责任投资主管乌拉·贝内迪克特松表示，关键是要针对新的扩张项目，而不是现有的供应，她认为后者对欧洲的能源安全很重要。 她称：“北极勘探涉及高环境风险、长周期，以及在欧洲油气需求预计将下降的市场中面临大量搁浅资产的风险。” Sampension表示将投票支持该决议，因为“该公司似乎没有向股东提供足够透明的信息，说明其与化石燃料扩张融资相关的活动”。 责任编辑：张俊 SF065

During times of turmoil and spiking oil prices global investors often embrace the US currency as a steadying force, but the mercurial moods of the current administration and a shaky tech sector has weighed on the dollar’s advance, according to Barclays Plc. Bloomberg’s gauge of the greenback is up nearly 2% since the launch of US and Israeli strikes against Iran more than three weeks ago. But those returns trail what would be expected given sharp shifts in real interest-rate differentials versus major currency peers, particularly the euro. For Barclays strategists that’s evidence that the dollar’s premium — the excess returns traders need to hold on to US cash — has largely idled since President Donald Trump rocked markets with his sweeping tariff proclamations nearly a year ago. “An investor who is long dollars is exposed to the largely impossible-to-forecast risk of dollar-negative White House social media communications at any time of day,” a team including Themistoklis Fiotakis and Lefteris Farmakis wrote Tuesday. “Such events can have instant non-trivial profit-and-loss impact, which in turn means that investors may do well to require larger returns from long dollar exposure to make this risk worthwhile.” Investors would expect a war in the Middle East and soaring energy prices to support the currency. The haven greenback is closely tied to oil prices due to the US’ status as the world’s top oil producer and by the dollar’s role as the currency for global crude trade. But the dollar’s premium has been little changed for the past year, according to a Barclays analysis. The dollar has moved from a discount of about 5% versus the single currency heading into the 2024 US election to a premium of about 5% since Liberation Day, the bank’s strategists found. It’s held this mark in the roughly 12 months since, Barclays said, a duration that is “way longer than its half life.” There are a number of ways to gauge a given currency’s discount or premium. Barclays’ analysis...

格隆汇3月25日｜据半岛电视台：以色列军方发言人埃菲·德夫林准将表示，尽管有在谈判，以色列在伊朗和黎巴嫩的军事行动将“按照不变的计划”进行。

航运数据显示，上周沙特阿拉伯红海延布港的原油出口量升至近400万桶/日，较伊朗战争爆发前的出口水平大幅增加。 这一跃升表明，全球最大石油出口商沙特阿美公司正推进其通过东西管道将原油输送至延布的计划，以保持供应流通，并弥补因冲突导致霍尔木兹海峡实质上关闭的影响。 该公司在3月10日表示，阿美公司可通过该管道向延布输送高达700万桶/日的原油，其中约500万桶/日可用于出口，其余供应本地炼油厂。 根据Kpler的数据，2月份沙特原油总出口量超过700万桶/日，其中大部分通过霍尔木兹海峡运输。 预计延布出口将进一步提升 Kpler的数据显示，3月份迄今为止，通过延布的原油出口量平均约为290万桶/日，与伦敦证券交易所集团提供的数据基本一致。这较1月和2月平均77万桶/日的出口量大幅增加。 根据Kpler、伦敦证券交易所集团和船舶经纪公司克拉克森的数据，在3月16日开始的一周内，出口量飙升至近400万桶/日，并预计将进一步增加。 Kpler分析师约翰内斯·劳巴尔表示：“我们预计这一上升趋势将持续，出口量可能在月底达到约500万桶/日，这将接近延布的最大装船能力。” 船舶经纪公司Braemar的分析显示，自2月28日以来，已有33艘超大型油轮从延布装载石油。 根据市场估计，从红海到亚洲航线的平均油轮收益已飙升至近六年来的最高水平，达到每天近27万美元。 船舶经纪公司BRS在周一的一份报告中表示：“中东原油油轮市场仍然混乱，许多沙特货物现已改道经由延布。” 上周，在伊朗无人机袭击当地一家炼油厂后，延布港曾短暂暂停装船。 在同样依赖自有管道分流原油运输的阿拉伯联合酋长国，位于阿曼湾的富查伊拉港的原油出口量也有所增加。 劳巴尔表示，3月份迄今为止，富查伊拉港的出口量平均为162万桶/日，高于2月份的117万桶/日。在伊朗袭击该港口后，上周出口量从3月9日开始一周的220万桶/日降至79万桶/日。 责任编辑：张俊 SF065

格隆汇3月25日｜据纽约时报：尽管伊朗官方否认正在进行谈判，德黑兰仍与华盛顿保持联系。

War in the Middle East and surging oil prices have shaken stocks, but investors may be able to make hay even if their portfolios decline. The major averages have hit a rocky patch since the Iran war started on Feb. 28. The S & P 500 has fallen by more than 4% and West Texas Intermediate futures have soared nearly 40% in that period. On Friday, the Dow Industrials even briefly traded in correction territory – a 10% decline from a recent high. The tumult is likely to continue, too, especially with midterm elections coming up later this year. "We would expect to see some volatility going into the year already," said Jamie Hopkins, certified financial planner and CEO of Bryn Mawr Trust Advisors. "These resets, even when they are brief – maybe there were some good corrections that occurred – that is a healthy thing." But with the S & P 500 roughly 6% below its all-time high, investors can take a few steps to prepare for a tax-saving opportunity should declines worsen. Bulk up on tax-free savings A Roth conversion allows investors to convert some of the savings they keep in a traditional individual retirement account – where earnings are tax-deferred – to a Roth IRA, where assets not only grow free of tax, they can be withdrawn tax free in retirement too. There are two major benefits for making a Roth conversion in a falling market. First, when shares are at a depressed value, investors can move more of them into the tax-free account. Second, once the market rebounds, the appreciation will be sheltered within the Roth. That means beaten-up names with solid growth prospects – such as those in the tech sector – might be good candidates for a conversion. "If you believe that a recovery is coming to the market, maybe look at a conversion and let that recovery happen tax free in a Roth," said Tim Steffen, CPA and director of advanced planning at Baird. Investors will want to work closely with their accountant and their financial advisor if they're considering a Roth conversion...

阿拉伯联合酋长国表示，伊朗将通过霍尔木兹海峡的能源与贸易流动武器化，等同于对世界上每一个国家实施经济恐怖主义。阿联酋自身的液化天然气和大部分石油供应已被这条关键航道阻断。 “每天2000万桶。占全球石油和天然气近五分之一。占全球化肥超过三分之一。占全球石化产品近四分之一，还有大量的工业金属，”阿联酋工业部长、阿布扎比国家石油公司董事总经理兼集团首席执行官苏丹·艾哈迈德·贾比尔在休斯顿举行的CERAWeek会议上谈到霍尔木兹海峡时表示。 “简而言之，全球经济的大部分命脉都流经这一条咽喉。然而，伊朗认为扼住它是一条可接受的策略，”贾比尔补充道。 自2月28日美以对伊朗发动空袭以来，每日通过霍尔木兹海峡的包括油轮在内的100多艘船只的通行量，已减少到每周仅寥寥数艘，所有货物显然都需获得伊朗批准才能通行。 对全球能源供应的冲击立竿见影，亚洲炼油商争相寻找非中东供应，为替代原油等级支付创纪录的高溢价，同时降低炼油厂开工率。3月份油价已上涨50%，亚洲现货液化天然气价格触及多年高点，而欧洲基准天然气价格较一个月前翻了一番。 阿布扎比国家石油公司的贾比尔表示：“将霍尔木兹海峡武器化，不是对某一个国家的侵略行为。这是对每一个国家的经济恐怖主义。任何国家都不应被允许挟持霍尔木兹海峡，现在不行，永远不行。” 这位高管指出：“虽然我们赞赏为稳定市场和降低价格所做的一切努力，但这不是一个供应问题。这是一个安全问题，只有一个持久的解决方案，那就是保持海峡畅通。”“我们无法通过贸易摆脱这场危机。” 责任编辑：张俊 SF065

But I can change it: Some Iranians dismiss the possibility of talks to end the war, others worry a deal may leave the current leaders in place.

【有線新聞】政府建議修例，將地盤所有區域列為法定禁煙區，地盤承建商有監管責任，違例最高可判罰四十萬元，業界關注地盤的管理人員監督能力有限。 香港建造業分包商聯會永遠榮譽會長伍新華：「建築物40層高，工人周圍走動，他藏起吸煙也很難防避。門口、閘口有地方放下煙包，如果他不把煙包拿出來，我不可以搜身，我沒有執法權力，希望勞工處執法時了解我們的限制，希望避免『濫起訴』。如燒焊一日只得一單、數日一單，但吸煙每日都發生，並且很多人都有吸煙習慣，若真的出現這個情況，一日有數人吸煙，40萬一張告票的確很大件事。」

U. J. Alexander/iStock Editorial via Getty Images BASF ( BASFY ) ( BFFAF ) up 3.3% in Tuesday's trading as Deutsche Bank upgraded the world's largest chemicals producer to Buy from Hold with a €55 price target, believing the company will see net benefits from the Middle East conflict, with increasing spreads and utilization in the European and U.S. upstream businesses, which should more than offset demand and cost headwinds in parts of the business. Specifically, global oversupply and cheap import pressure from Asia/China have been a key headwind for BASF ( BASFY ) ( BFFAF ) which should ease, Deutsche Bank analysts led by Virginie Boucher-Ferte said, raising the bank's estimated 20 26-2029 forecasts for earnings per share by 19%-23% and EBITDA by 8%-10%, now 10% above consensus 2026 EBITDA. BASF ( BASFY ) ( BFFAF ) shares trade at 7.3x estimated 2026 EV/EBITDA, below its last 10-year average, and offer a 5% dividend yield with a €1.5B buyback currently ongoing with ~€700M remaining, Boucher-Ferte wrote, adding the stock continues to trade at a premium to peers, but this has been the case for some time now, due to higher liquidity and superior positioning relative to European peers. " We anticipate that this conflict will have relatively long-lasting consequences for European chemical companies, both negative (cost and demand headwinds) and positive (reduced oversupply and competitive pressures), even if a resolution were to occur in the near future," Boucher-Ferte wrote, adding that at the current stage, "it is impossible to definitively assess the net impact of the situation, and a wide range of outcomes remain possible." More on BASF BASF Q4 2025 Earnings Call Transcript BASF Q4 2025 Earnings Call Presentation I'm Comfortable Buying BASF Shares Here

周二（3月24日）纽约尾盘，ICE原糖期货涨2.45%，ICE白糖期货涨3.32%。ICE阿拉比卡咖啡期货涨3.96%，咖啡“C”期货涨3.96%。罗布斯塔咖啡期货涨0.71%。纽约可可期货涨1.67%，报3233美元/吨。伦敦可可期货涨1.94%。芝加哥WCE双低油菜籽期货涨0.61%。ICE棉花期货涨0.58%。

peterschreiber.media/iStock via Getty Images Performance assessment Palantir ( PLTR ) initially corrected after I published my last update on the stock, but it has rebounded this month: Performance since HA's Last Article on PLTR (Seeking Alpha, HA's Last Article on PLTR) Elevator pitch I am becoming more bullish again on Palantir. Here's the thesis: Maven AI's success can secure a long term stream of federal contracts Strong hiring trends in the Palantir ecosystem are a sign of robust growth ahead Economies of scale can lead to massive profit margin expansion PLTR stock valuations are lower but the growth ask is still high Bulls look ready to resume the uptrend Maven AI's success can secure a long term stream of federal contracts Palantir's Maven Smart System is an AI platform that fuses satellite, drone, and sensor data for battlefield analysis in real-time applications. Yesterday's news update revealed that this system is now an official program of record, which means this piece of work is now a formally approved, budgeted, long‑term acquisition program for the Pentagon. This is an upgrade that Palantir has secured in less than a year from a mere pilot or experimental contract. Here's what the key decision maker said about why the US Department of Defense have made Maven AI a core program: embedding Palantir’s Maven Smart System would provide warfighters with 'the latest tools necessary to detect, deter, and dominate our adversaries in all domains.' The move would lock in long-term use of the company's weapons-targeting technology in the U.S. military... - Deputy Secretary of Defense Steve Feinberg, Seeking Alpha , Reuters Naturally, this is a very bullish development for Palantir as it positions them to win more deals across the US and in my view even foreign defense departments in a more streamlined way: Designating PLTR's Maven Smart System as a program of record will streamline the company's deals across all branches of the military while providing long-term ...

Palantir: This Selloff Is A Gift (NASDAQ:PLTR) Seeking Alpha

以向半导体制造商授权技术而闻名的Arm Holdings将首次开始销售自有芯片，旨在从人工智能设备的巨额支出中分得更大份额。 Arm周二在旧金山的活动上表示，Meta Platforms将成为该公司AGI CPU芯片的首个主要客户。该产品将拥有多达136个核心，功耗为300瓦。 台积电 将负责生产这些芯片。 受此消息推动，Arm美股一度触及盘中高点。截至纽约时间下午1点04分，其股价上涨约1%，至138.22美元，今年以来上涨逾26%。 在首席执行官Rene Haas的带领下，Arm从最初的智能手机技术供应商转型，并在数据中心市场中扮演了更重要的角色。 责任编辑：李桐

A number of stocks fell in the afternoon session after Anthropic announced that its Claude AI assistant can now control computers to complete tasks by imitating human keystrokes and mouse movements.

spawns The U.S. will be the last region to feel the impact of global energy disruptions stemming from tensions in Iran, according to Jeff Currie, partner and chief strategy officer of energy pathways at Carlyle. Speaking at the CERAWeek conference in an interview with CNBC, Currie emphasized that “the physical realities will be what dominates this market” regardless of attempts to manipulate prices through speculation or jawboning. Currie drew a sharp distinction between oil and traditional financial instruments, explaining that commodities cannot be easily manipulated because they must reflect current supply and demand conditions. “It is not a financial instrument. It does not price expectations. It is a spot instrument that has to clear today’s supply and demand,” Currie said. This fundamental characteristic means that while financial markets are anticipatory, commodity prices respond directly to physical market conditions. The gap between Western and Eastern oil prices already reflects these physical realities. While WTI ( CL1:COM ) trades at $92 and Brent ( CO1:COM ) at $100, Currie noted that oil traded in Asia, such as Oman crude, is already fetching $150 to $160 a barrel. In some regions, jet fuel has surpassed $300 a barrel. “In places like the Philippines, it’s already there. New Zealand, Australia—they're already feeling it,” he said. Currie described an “air pocket” moving through global supply chains that will reach different regions at different times. With shipping from the Gulf taking three to four weeks to reach Rotterdam or the U.S. East Coast, the physical disruptions that began in early March are expected to hit European and American markets around early April. Asia, with only a two-to-three-day buffer, will feel the impact within days. The U.S. enjoys relative insulation because it “produces what it consumes,” making Oklahoma-based WTI the last benchmark to reflect global disruptions. However, Currie warned that American prices will begin rising ...

Centrus Energy Corp. (NYSE:LEU) is one of the 8 Must-Buy Nuclear Energy Stocks to Invest In. On March 12, 2026, Centrus Energy Corp. (NYSE:LEU) announced a partnership with Palantir to apply AI-driven software tools to support its multi-billion-dollar uranium enrichment expansion. CEO Amir Vexler said the company is moving to “scale it for commercial deployment,” […]

特朗普面临一个简单但艰难的选择：伊朗的浓缩铀仍需控制，而空袭并未实现这一目标。唯一明确的控制方式可能要求美军地面部队介入——这一选择可能扩大冲突并显著提高风险。 这种不确定性已蔓延至全球能源市场。 油价已从近期高点回落，但仍处于高位，因中东冲突尚无缓和迹象。欧洲对使用军事手段确保霍尔木兹海峡安全仍基本持不承诺态度，而美国总统唐纳德·特朗普仍在考虑是否向伊朗派遣地面部队以确保其浓缩铀库存的安全。 上周四，英国、法国、德国、意大利、荷兰和日本发表联合声明，谴责伊朗对商船的袭击，并表示他们“……愿意为确保持续安全通过霍尔木兹海峡的适当努力做出贡献。”然而，他们并未承诺参与由五角大楼领导的特定安全任务。值得注意的是，德国、意大利和希腊此前已排除派遣军舰加入美国领导的海湾军事任务，理由是这场冲突不是他们的战争，且他们未被征求意见。此前，欧盟外交部长确认他们不会将目前在红海的“Aspides”海军任务扩展到霍尔木兹海峡，有报道称欧盟无意改变该任务的授权。 特朗普抨击欧洲未能帮助海湾任务，称他们是“懦夫”。“现在，这场战斗已经在军事上取得胜利，对他们来说几乎没什么风险，他们却抱怨不得不支付的高油价，但又不愿帮助开放霍尔木兹海峡——这是一个简单的军事行动，也是导致高油价的唯一原因。对他们来说做起来那么容易，风险那么小，”他在其“真相社交”平台上写道。 现在，特朗普面临最终决定：是否派遣美军地面部队夺取伊朗的浓缩铀库存——这是当前冲突中最具高风险和争议性的决定之一。特朗普政府宣称的目标仍是防止伊朗拥有核武器，但总统目前正陷于最大化目标与保持低成本、避免长期政权更迭战争之间的两难境地。 专家估计，伊朗拥有970磅可潜在地用于制造多达10枚核武器的浓缩铀，其中大部分埋藏在美国轰炸目标的山地设施下。上周四，特朗普对记者表示他不会在伊朗部署地面部队，不过他补充说，如果他这样做，他不会提前透露。相反，政府内部消息人士表示，派遣特种部队确保接近武器级铀的安全是一个正在审查的可行选项。专家分析表明，提取或稀释这些浓缩材料可能需要每个地点超过1000名士兵。 然而，如果特朗普决定向伊朗派遣军队，他将面临艰巨的任务。美国国家情报总监图尔西·加巴德上周三作证说，美国和以色列的空袭已经“摧毁”了伊朗的浓缩计划，并将地下设施埋入瓦砾，使得任何回收任务在物理上都极其复杂。 此外，尚不清楚特朗普是否能获得美国国...

DNY59/iStock via Getty Images Fund Commentary For most of the final quarter of 2025, the macroeconomic landscape was shaped as much by what investors couldn't see as by what they could. The U.S. government shutdown—lasting a record 43 days—created a significant information vacuum just as markets sought clarity on growth, inflation, and policy trajectories. Despite the data fog, the global macro backdrop proved “good enough” for risk assets. Global growth held firm, inflation stayed sticky but avoided more disruptive outcomes, and most central banks leaned more accommodative than hawkish. In the U.S., elevated downside labor market risk kept U.S. Federal Reserve (“Fed”) easing in play, leading to rate cuts even as the economy expanded. However, policymaker dissents emerged as the Fed Funds rate approached the Federal Open Market Committee's neutral estimate. International markets—particularly Japan and parts of Europe—offered broadly supportive signals, though political uncertainty occasionally weighed on European sentiment. Since mid-2024, most major developed market central banks have cut rates by 150-200 basis points (1.50%-2.00%) or more, meaning some could be close to the end of their easing cycle. The Bank of Japan remains on a separate trajectory with a gradual pace of rate hikes from a highly accommodative starting point, including two in 2025 and two more expected in 2026. Overall, the global tariff environment proved less disruptive than earlier fears. U.S. monthly tariff collections rose but remained well below levels implied by announced policies, while statutory rates edged lower as deals and exemptions took hold. Still, investors monitored persistent trade-related risks alongside other potential headwinds, including slower AI investment, labor market softening, bond market volatility tied to inflation or fiscal stress, and ongoing risk of geopolitical shocks. Financial markets capped a strong 2025 with 4Q gains across both equities and fixed income. Man...