Core Viewpoint - India's trade negotiators will reschedule their visit to Washington, D.C. to finalize an interim trade deal with the U.S. following the U.S. Supreme Court's ruling on tariffs [1][2]. Group 1: Trade Negotiations - The meeting will be rescheduled at a mutually convenient date after both sides evaluate the latest developments and their implications [2]. - India's chief negotiator, Darpan Jain, and his team were initially set to begin a three-day meeting in the U.S. later this week [2]. Group 2: Tariff Changes - India is currently facing a 25% reciprocal tariff, which was expected to decrease to 18% after an interim deal was agreed upon earlier this month [3]. - The joint statement from the U.S. and India indicates that either country may modify its commitments in response to changes in agreed-upon tariffs [3]. - India, like other countries, will now face a 15% tariff in addition to the most-favored-nation status rates, which typically range from 2-3% [4].

Market Overview - The stock market rebounded last week, with the Nasdaq ending a five-week losing streak, rising 1.9% due to strong performances from major tech companies like Meta Platforms, Nvidia, and Amazon [1] - The S&P 500 increased by 1.1%, breaking a two-week decline, aided by a Supreme Court ruling against President Trump's emergency tariffs [1] Supreme Court Ruling - The Supreme Court ruled 6-3 against Trump's tariffs, stating that no president had previously used the statute to impose tariffs of such magnitude, requiring clear congressional authorization for such actions [1] - Following the ruling, the S&P 500 rose 0.7%, although some companies like Nike experienced a decline due to ongoing tariff concerns [1] Big Tech Performance - Major tech stocks saw significant gains, with Meta up 2.5% and Nvidia up 3.8% after Meta announced plans to use Nvidia's chips in its data centers, highlighting strong AI demand [1] - Amazon's shares surged 5.6% after a regulatory filing revealed that Bill Ackman's Pershing Square increased its position in the company [1] - Alphabet's stock initially lagged but later rallied to end the week up 3% [1] Private Credit Concerns - Concerns in the private credit market arose from Blue Owl Capital's decision to restrict withdrawals from its private debt fund, causing a nearly 6% drop in its shares [1] - Major private asset managers like Ares Management and Blackstone faced significant declines, with Ares down 8% and Blackstone down 6.6% [1] - Despite these concerns, BlackRock's exposure to private credit did not raise alarms, as its shares only dropped 1% before recovering [1] Portfolio Adjustments - Capital One was the only financial stock traded last week, with additional shares purchased [1] - The company exited its position in Texas Roadhouse due to concerns over ongoing beef inflation issues [1]

Core Viewpoint - President Trump announced an increase in global tariffs from 10% to 15% effective immediately, following a Supreme Court ruling that struck down his previous "reciprocal" tariffs [1][2][3]. Group 1: Tariff Increase Details - The new tariffs will apply to various countries that Trump claims have been "ripping" off the U.S. for decades [2]. - Trump indicated that additional tariffs may be implemented in the coming months, as the administration will determine and issue new legally permissible tariffs [3]. Group 2: Supreme Court Ruling Context - The Supreme Court ruled 6-3 that Trump wrongfully invoked the International Emergency Economic Powers Act (IEEPA) to impose his tariffs [3][4]. - The ruling requires that any extension of temporary levies, such as the 10% tariff initially imposed, must receive congressional approval [4]. Group 3: Presidential Response - Trump criticized the Supreme Court's decision, labeling it as "ridiculous, poorly written, and extraordinarily anti-American," and specifically targeted Justices Gorsuch and Barrett for their votes [4].

Core Viewpoint - Market volatility may mislead retail investors into focusing on defensive trades, such as dividend-paying stocks and bonds, rather than adopting a total return-oriented investment strategy [1][2]. Group 1: Investment Strategy - Investors are advised to avoid an income-focused approach, as it may lead to missed opportunities and unintended risks in their portfolios [2][3]. - A total return-oriented approach is recommended, which encompasses stocks, bonds, and other assets, rather than solely focusing on income generation [2]. - The firm warns against "yield-chasing," which involves taking on greater interest rate risk and shifting from investment-grade to high-yield bonds, leading to different risk and return expectations [2]. Group 2: Economic Outlook - The economy is described as resilient, with corporate profitability remaining strong, suggesting a favorable macroeconomic environment for investors [3]. - The emphasis is placed on balancing attractive yield with potential long-term capital appreciation, rather than solely pursuing maximum yield, which is considered a "yield trap" [4].

U.S. President Donald Trump gestures as he speaks during a press briefing at the White House, following the Supreme Court's ruling that Trump had exceeded his authority when he imposed tariffs, in Washington, D.C., U.S., January 20, 2026.The Supreme Court's decision Friday to throw out a large number of tariffs that President Donald Trump imposed on imports was widely expected. What's far less certain is the longer-run impacts as the economy and markets again adjust to a changed landscape.Trump and other Wh ...

Core Insights - Berkshire Hathaway was a net seller of stocks in Warren Buffett's final quarter as CEO, significantly reducing its holdings in Apple, American Express, and Bank of America [1][2][3] Stock Sales - Berkshire has sold Apple shares for three consecutive quarters, reducing its stake by over 75% since summer 2023, although it remains the largest equity stake valued at $60.3 billion [1][2] - The sales of Apple have allowed American Express to close the gap in value from nearly $150 billion to just under $8 billion [2] - Berkshire's stake in Amazon.com decreased from $2.2 billion to $478 million after selling 7.7 million shares, marking a 77% reduction [3] Stock Purchases - Berkshire increased its stake in Chevron by 6.6% during the fourth quarter, adding $1.2 billion to its position, which is now valued at almost $24 billion, up from $19.8 billion [5][6] - Chubb was the second-largest buy in the quarter, with a 9.3% increase adding approximately $910 million to its value [6] - A small stake in The New York Times Company was added, valued at $395 million, which increased by 12.4% due to a rise in the newspaper's share price [8][11][12] Utility Operations - Berkshire's PacifiCorp agreed to pay $575 million to resolve federal wildfire claims, settling nearly 90% of known claims for over $2.2 billion [14][15] - The utility is also selling $1.9 billion in assets to improve financial stability amid over $50 billion in potential liabilities from private claims related to wildfires [16]

Core Insights - The competitive landscape between Hasbro and Mattel is shifting, with Hasbro gaining an edge due to its successful trading card game division, Wizards of the Coast [3][4]. Financial Performance - For fiscal year 2025, Hasbro's revenue increased by 14% to $4.7 billion, while Mattel's net sales decreased by 1% to $5.3 billion [4]. - Hasbro's stock rose approximately 46% over the past year, trading around $100, whereas Mattel's shares fell over 20%, trading at about $17 [5]. Business Segments - Hasbro's Wizards of the Coast division, which includes Dungeons & Dragons and Magic: The Gathering, saw a revenue increase of 45% to $2.1 billion in 2025, contributing significantly to the company's profits [9][12]. - The digital gaming segment of Hasbro also experienced a 6% revenue increase in 2025, driven by the success of "Monopoly Go!" [14]. Market Trends - The overall toy industry in the U.S. saw a 6% increase in total annual dollar sales in 2025, with unit sales rising by 3%, indicating a stable demand despite economic pressures [19][20]. - Mattel's flagship brands, including Barbie and Fisher-Price, are facing sales declines, while its vehicles division reported an 11% increase in gross billings [17]. Future Outlook - Hasbro plans to launch new Magic sets based on popular franchises in 2026, forecasting mid-single-digit growth for its Wizards business [13]. - Mattel is beginning to invest in digital gaming, acquiring full ownership of its Mattel163 joint venture, which could enhance its profit margins over time [15][16].

Core Insights - India hosted a significant AI event, the AI Impact Summit, which faced organizational challenges and controversies, impacting its intended message as a leading AI player [1][10] Group 1: Event Overview - The AI Impact Summit was one of the largest AI events globally, but it was marred by chaos and confusion, including traffic issues and unclear instructions for media access [1][3][4] - Delegates expressed frustrations regarding the organization of the summit, highlighting the difficulties faced by attendees [4][10] Group 2: Controversies - Bill Gates was scheduled to give a keynote address but withdrew unexpectedly, causing uncertainty around his participation [5] - A university was reportedly removed from the summit for misrepresenting a robot dog as its own creation, which was actually developed by a Chinese firm [6][7] Group 3: Industry Engagement - Despite the challenges, major tech firms, including OpenAI and Google, engaged positively with the Indian market, emphasizing its potential due to a large talent pool and consumer market [10][11] - OpenAI announced it would be the first customer of Tata Consultancy Services' data center business, while Google formed partnerships with educational institutions for its AI initiatives [11] Group 4: Government and Future Prospects - The Indian government aims to attract $200 billion in AI investment over the next two years, positioning the country as a potential AI hub [11][12] - The enthusiasm from tech leaders at the summit indicates India's growing importance as a critical market for major global firms [12]

Group 1 - Major tech companies are committing to invest hundreds of billions of dollars into AI initiatives in India, with a total capital expenditure potentially reaching $700 billion this year [1] - Indian tech group Reliance plans to invest $110 billion into data centers and infrastructure, while Adani has outlined a $100 billion AI data center buildout over the next decade [2] - Microsoft announced its intention to invest $50 billion in AI in the Global South by the end of the decade, alongside partnerships between OpenAI, AMD, and Tata Group to enhance AI capabilities [3] Group 2 - The announcements of these investments were made during a significant summit, which also faced controversy, including Bill Gates withdrawing due to backlash over his past associations [4]

Blue Owl BDC's CEO Craig Packer speaks during an interview with CNBC on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., Nov. 19, 2025.The latest tremor in the private credit world involved a deal that should've been reassuring to markets. Blue Owl, a direct lender specializing in loans to the software industry, said Wednesday it had sold $1.4 billion of its loans to institutional investors at 99.7% of par value. That means sophisticated players scrutinized the loans and the companies ...