Core Viewpoint - International equities are experiencing a resurgence after a decade of underperformance against the U.S. stock market, with experts suggesting that this opportunity may persist for the foreseeable future [1][2]. Group 1: Performance and Market Dynamics - International equities began to outperform U.S. equities in November 2024, achieving approximately 15% better returns since then, marking a significant inflection point despite a decade of lagging performance [4]. - Over the past ten years, global equities outside the U.S. underperformed domestic markets by about 60%, leading to a capital flow into U.S. equities, particularly in mega-cap technology stocks [3]. - The iShares MSCI Emerging Markets ETF (EEM) has $26.55 billion in assets and returned 42% over the past year, while the iShares MSCI ACWI ETF is up 20%, outperforming the S&P 500 by about 5% [5]. Group 2: Investor Behavior and Portfolio Allocation - U.S. investor exposure to international markets is estimated to be only 12-15%, significantly lower than the 30-40% representation of international equities in global market capitalization [3]. - Investors are encouraged to diversify their portfolios, with a suggested allocation of 70% to developed markets and 30% to emerging markets [5]. - The renewed interest in international markets is partly driven by a weakening U.S. dollar, which has improved returns for dollar-based investors holding foreign assets [6][7]. Group 3: Regional Insights and Sector Performance - Japan is highlighted as a key example of improving fundamentals, with corporate governance reforms boosting returns [7]. - Europe is benefiting from lower interest rates, fiscal spending, and regulatory changes, with sectors like banking, utilities, and industrials gaining momentum [8]. - Latin America, particularly Chile and Peru, is performing strongly due to rising commodity demand, with the iShares MSCI Brazil ETF (EWZ) up nearly 49% and the iShares MSCI Peru and Global Exposure ETF (EPU) up almost 118% over the past year [10][11]. Group 4: Broader Market Trends - The dynamics of global trade are shifting, with international policies from the Trump administration expected to serve as long-term tailwinds for international-themed trades [13]. - The technology sector is also being reassessed, with South Korea's market heavily weighted towards memory chip leaders, which have seen significant gains [14]. - The overall trend reflects a broader reallocation towards international equities after years of neglect, driven by valuation gaps and earnings growth [15].

Sandisk's stock popped 14% after the company crushed Wall Street's fiscal second-quarter estimates, as the artificial intelligence boom sent demand for its chips skyrocketing. The flash storage memory company reported earnings of $6.20 per share, excluding items, blowing past the $3.62 per share expected by analysts surveyed by FactSet. Revenue totaled $3.03 billion, topping a forecast of $2.69 billion. Sandisk's third-quarter forecast also outpaced expectations for analysts. Sandisk guided for between $4.4 ...

ExxonMobil CEO Darren Woods said Friday that Venezuela needs to transition to democracy in order for investment in the South American nation's dilapidated oil industry to make sense. President Donald Trump is pressuring oil companies to invest at least $100 billion in Venezuela to rebuild the country's oil industry after the U.S. captured former President Nicolas Maduro on Jan. 3. But Woods told Trump at the White House on Jan. 9 that Venezuela is "uninvestable" in its current state. The Exxon CEO's blunt a ...

In this articleMETAMSFTMicrosoft's stock isn't recovering in Friday's pre-market trading, after the stock saw its biggest daily decline since 2020 on Thursday, sliding 10% after an earnings report.It's trading 0.55% up on Thursday's close as of 6.44 am ET.This is despite the company's second-quarter earnings beating analyst revenue expectations. Like other hyperscalers, Microsoft has invested huge sums in its AI infrastructure buildout. But Meta reported huge AI spending on the same day and its stock jumped ...

U.S. Sen. Thom Tillis (R-NC) speaks to reporters as he leaves the Senate Chamber at the U.S. Capitol on January 29, 2026 in Washington, DC.Sen. Thom Tillis said Friday that he will oppose the nomination of Kevin Warsh as chairman of the Federal Reserve by President Donald Trump until the federal criminal probe of the current chair, Jerome Powell, is "fully" resolved.Tillis, R-NC, earlier this month vowed to oppose any new nominee for the Fed until the Department of Justice's controversial investigation of P ...

Group 1: Federal Reserve Nomination - President Trump has nominated former Fed Governor Kevin Warsh to be the next chairman of the U.S. Federal Reserve, expressing confidence in his potential effectiveness [2][3] - Warsh's nomination is not expected to significantly impact markets due to his established background and perceived political independence, although Senate confirmation may face challenges [3][4] Group 2: Government Funding and Shutdown - Trump endorsed a Senate deal to fund most of the government through the end of the fiscal year, which is expected to help avoid a partial government shutdown [5][6] - The revised funding deal includes several departments but excludes the Department of Homeland Security, which will be funded separately for two weeks [6][7] Group 3: Apple Financial Performance - Apple exceeded Wall Street expectations in its fiscal fourth quarter, with iPhone revenue increasing by 23% year-over-year, although it missed estimates in some other product categories and services [9][10] - Apple confirmed its acquisition of Israeli AI startup Q.ai, although the purchase price was not disclosed [10] Group 4: Amazon and OpenAI Investment Discussions - Amazon is reportedly in discussions to invest up to $50 billion in OpenAI, with ongoing talks between CEOs Sam Altman and Andy Jassy [11][12] - This potential investment is notable given Amazon's previous investments in Anthropic, a competitor of OpenAI [12]

A 2025 Ford Lightning electric vehicle (EV) at a Ford dealership in Antioch, California, US, on Thursday, Dec. 18, 2025.DETROIT — Ford Motor said it will report pretax charges of $600 million in its fourth-quarter results due to adjustments in its employee pension plans and other postretirement benefits.The Detroit automaker said the special charges, which will affect its net income but not its adjusted results or cash, are split between domestic plans and those outside the U.S."The remeasurement loss for U ...

Core Insights - The theatrical industry is heavily reliant on established franchises to drive box office sales, with a goal to surpass $10 billion domestically for the first time since the pandemic [4][5][8] - Despite the presence of popular franchises, some major releases are underperforming, raising concerns about the industry's ability to reach its financial targets [5][10] - The trend of franchise films dominating the box office has been consistent, with the top 10 films representing an average of 44% of the total domestic box office post-pandemic [9] Industry Trends - The number of films produced for theatrical release has declined significantly since the pandemic, with a 20% drop in wide releases from 2019 to 2024 [19] - Studios are increasingly focusing on familiar intellectual properties (IP) as safe bets, leading to a reliance on franchise films for box office success [8][19] - The shift in consumer behavior towards streaming has impacted the theatrical market, with audiences becoming more selective about what they watch [21] Franchise Performance - Recent franchise films like "Wicked: For Good" and "Avatar: Fire and Ash" have underperformed compared to their predecessors, indicating a potential decline in audience interest [11][14] - The Marvel Cinematic Universe has faced challenges in maintaining quality and audience engagement following its peak with "Avengers: Endgame" [15] - Successful franchises, such as the Dune series, have managed to attract both core fans and new audiences, demonstrating the importance of balancing niche appeal with broader market reach [17][18] Box Office Dynamics - The top 10 films in 2019 accounted for nearly 40% of the annual domestic box office, while post-pandemic, this figure has risen to 44% [9] - The decline in mid-budget films has created a gap in theatrical content, as many have transitioned to streaming platforms [20] - Studios are adapting by "eventizing" film releases, promoting them as must-see experiences, particularly for franchise films [22][23] Consumer Engagement - Major studios are leveraging their franchises for merchandise and theme park experiences, creating additional revenue streams beyond box office sales [24][26] - Fans of franchises are eager for products that celebrate their favorite characters, leading to a diverse range of merchandise offerings [25] - The enduring popularity of franchises like Star Wars demonstrates their cultural significance, even in the absence of new theatrical releases [28]

Core Viewpoint - The U.S. economy is experiencing a "K-shaped" recovery, indicating a growing disparity between high-income and low-income Americans, which is seen as a structural issue rather than a temporary phenomenon [3][10]. Economic Disparity - The Gini coefficient, a measure of wealth concentration, is at 60-year highs, reversing the decline seen during pandemic-era stimulus [5]. - The net worth of the top 1% reached nearly 32% of total net wealth, while the bottom 50% holds only 2.5% [6]. - Compensation for workers as a portion of U.S. GDP has fallen to its lowest level in over 75 years, indicating that average workers are receiving a smaller share of economic growth [7]. Consumer Spending Patterns - Households earning under $75,000 are spending less on discretionary items compared to 2019, while those earning above $150,000 are increasing their spending [8]. - Total consumer outlays by the top 20% reached multidecade highs, while the remaining 80% saw their spending drop to new lows, with overall spending not keeping pace with inflation over the past six years [9]. Historical Context - The K-shaped economy's roots can be traced back to economic changes during the Reagan administration and were exacerbated by the Global Financial Crisis [11][14]. - The decline in unionization rates has contributed to reduced negotiating power for workers, further widening the economic gap [15]. Economic Outlook - The U.S. economy relies on a few strong sectors, making it feel fragile; if key sectors falter, the entire economy could be at risk [16][17]. - The health care sector is the only one consistently adding jobs, while the technology sector has driven stock market gains, benefiting higher earners [17].

Core Insights - Charitable giving saw a significant increase in 2025, driven by strong stock market returns and tax reform, with donors granting a record $9.9 billion to charities, marking a $2.2 billion or 28% increase from the previous year [2]. Group 1: Charitable Giving Trends - The total charitable contributions reached $9.9 billion in 2025, reflecting a substantial growth of 28% compared to the prior year [2]. - A record 74% of contributions were made in the form of non-cash assets, including ETFs, index funds, real estate, and cryptocurrency [4]. Group 2: Donor-Advised Funds (DAFs) - Donors can contribute cash or assets to donor-advised funds (DAFs) and receive an immediate tax deduction, allowing them to decide later how to distribute their gifts [3]. - DAFs provide a simpler way for donors to offload appreciated assets without incurring capital gains tax, as assets continue to appreciate until grants are made to charities [3]. - Julie Sunwoo, president of DAFgiving360, emphasized that DAFs excel in helping donors manage appreciated or illiquid assets, allowing for strategic planning in charitable giving [4].