We're back on Morning Trade Live. Deer is moving lower this morning after beating earnings estimates on the top and bottom lines. The issue investors are having is with the guidance here.Deer is projecting weakness across multiple divisions next year as agriculture weakness continues. So, we are seeing shares getting hit right now. We're at 47 471 and change.Let's go inside out on this name deer after earnings. Joining us now is Jonathan Sraa, VP of equity research at CFR research. Thank you so much for joi ...

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal! AI is eating the world—and the machines behind it are ravenous. Each ChatGPT query, each model update, each robotic breakthrough consumes massive amounts of energy. In fact, AI is already pushing global power grids to the brink. Wall Street is pouring hundreds of billions into artificial intelligence—training smarter chatbots, automating industries, and b ...

Core Points - The European Commission has revised down its growth forecast for the Eurozone in 2026 due to higher-than-expected tariffs imposed by the US on EU goods [1] - The Eurozone's growth is projected to be 1.1% in 2026, significantly lagging behind the US at 2.1% and China at 4.2% [1] - The Eurozone's economic growth for 2023 is now expected to reach 1.3%, up from a previous forecast of 0.9% [1] - The Commission attributes the improved growth outlook for 2023 to stronger private consumption and investment [1] Economic Outlook - The Eurozone is expected to maintain moderate growth in the coming quarters, supported by a resilient labor market and improved purchasing power [1] - The growth forecast for 2026 has been adjusted from 1.4% to 1.2% due to new tariff assumptions, with the US tariff rate on most EU goods increased from 10% to 15% [1] - The overall inflation in the Eurozone is projected to slow to 1.9% by 2026, slightly above the previous estimate of 1.7% but still within the European Central Bank's target of 2% [2] Employment and Trade - The unemployment rate in the Eurozone is expected to decrease from 6.3% in 2023 to 6.2% in 2026, reflecting a long-term trend of declining labor force participation [2] - The European Commission highlights that the Eurozone's average tariffs are still lower compared to economies like China and India, providing a relative advantage for EU companies [2] - However, the higher US tariffs are expected to negatively impact Eurozone exports in 2026 [2] Country-Specific Insights - Germany's growth forecast for 2023 has been revised from zero to 0.2%, with a projected growth of 1.2% in 2026, bolstered by a significant investment plan totaling €1 trillion [3] - Despite the positive outlook, Germany's economy remains highly dependent on exports, which may be adversely affected by trade tensions [3] - France's growth for 2023 is expected to reach 0.7%, with a 2026 growth forecast of 0.9%, down from a previous estimate of 1.3% due to domestic economic uncertainties [3]

Core Insights - Artificial intelligence (AI) is identified as the greatest investment opportunity of the current era, with a strong emphasis on the urgent need for energy to support its growth [1][2][3] - A specific company is highlighted as a key player in the AI energy sector, owning critical energy infrastructure assets that are essential for meeting the increasing energy demands of AI technologies [3][7] Investment Landscape - Wall Street is investing hundreds of billions into AI, but there is a looming question regarding the energy supply needed to sustain this growth [2] - AI data centers consume energy equivalent to that of small cities, leading to concerns about power grid strain and rising electricity prices [2] Company Profile - The company in focus is not a chipmaker or cloud platform but is positioned to benefit from the anticipated surge in energy demand due to AI [3][6] - It owns significant nuclear energy infrastructure assets, making it a central player in America's future power strategy [7] Financial Position - The company is noted for being debt-free and holding cash reserves that amount to nearly one-third of its market capitalization, providing a strong financial foundation [8] - It is trading at less than 7 times earnings, indicating a potentially undervalued investment opportunity [10] Market Trends - The company is poised to capitalize on the onshoring trend driven by tariffs, as well as the surge in U.S. LNG exports under the current administration [5][14] - There is a growing recognition on Wall Street of this company's potential, as it quietly benefits from multiple market tailwinds without the high valuations typical of other energy firms [8][9] Future Outlook - The influx of talent into the AI sector is expected to drive continuous innovation and advancements, reinforcing the importance of investing in AI-related companies [12] - The overall sentiment is that investing in AI infrastructure and energy is crucial for future growth, with the potential for significant returns within the next 12 to 24 months [15][19]

Group 1 - The core issue revolves around China's halt in large-scale soybean purchases from the U.S., which contrasts with the U.S. government's expectations of a $120 billion procurement commitment [1] - China's agricultural imports have diversified, with private enterprises increasing their share, indicating that state-owned enterprises cannot fulfill the large orders anticipated by the U.S. [5] - The U.S. soybean industry is facing internal challenges, including surplus inventory and rising production costs, which complicate the market dynamics [3] Group 2 - The U.S. soybean import tariff of 13% significantly hampers competitiveness compared to Brazilian soybeans, which are 10% cheaper [1] - Brazil's soybean exports to China are projected to reach approximately 4 million tons by the end of 2025, providing China with leverage in negotiations [1] - The U.S. agricultural sector is concerned about the political volatility affecting trade agreements, as seen in the uncertainty faced by farmers regarding whether to store or sell their soybeans [3][5] Group 3 - China's procurement strategy appears to focus on risk diversification rather than reliance on a single source, reflecting a cautious approach in the face of geopolitical tensions [1] - The U.S. soybean association expresses hope that agricultural trade will not be politicized, highlighting the industry's frustration with the current trade environment [5] - China's response to the U.S. trade policies suggests that cooperation is contingent upon the removal of high tariffs, indicating a need for a more balanced trade relationship [5]

So you heard Alys's report with regard to the trade dynamic that we're developing with Latin America right now. Ununice Yun just laid out the state of play with China and its economy visav trade. Just how important are the next few weeks and months for this Trump administration in trying to really push through the priorities it has on international trade.>> Extraordinarily important. Um and uh these four new trade agreements I think are a great showing of momentum of the uh importance of using tariffs as a ...

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal! AI is eating the world—and the machines behind it are ravenous. Each ChatGPT query, each model update, each robotic breakthrough consumes massive amounts of energy. In fact, AI is already pushing global power grids to the brink. Wall Street is pouring hundreds of billions into artificial intelligence—training smarter chatbots, automating industries, and b ...

Core Insights - The rise in gold prices has led to a corresponding decline in global jewelry manufacturing, with seven out of the last eight quarters showing a decrease, resulting in a compound quarterly decline of 4.1% [1] - As of the first nine months of 2025, jewelry manufacturing volume measured in pure gold weight is at its lowest level since 2010, excluding the pandemic-affected year of 2020 [1] - Gold prices have been on an upward trend for eight consecutive quarters, with a compound growth rate of 7.6%, and a nearly 80% increase over the past two years [1] Jewelry Manufacturing Trends - The increase in raw material costs is expected to be passed on to end consumers, raising the prices of finished jewelry [1] - Consumers are responding to price increases by either paying more for the same weight of jewelry, opting for lighter or smaller pieces, reducing purchase frequency, or switching to alternative materials [1] Impact of Trade Tariffs - Trade tariffs have negatively impacted the jewelry market, particularly in the U.S., which is the third-largest consumer of gold jewelry globally [2] - Approximately 50% to 60% of jewelry in the U.S. is domestically produced, with the remainder imported; tariffs have significantly raised costs for imported jewelry [2] - The U.S. has imposed a 26% tariff on jewelry imports from India, which was further increased to 50%, leading to a significant decline in exports to the U.S. [2] Changes in Consumer Behavior - In India, despite a surge in shipments before the tariff implementation, jewelry exports to the U.S. still saw a 23% year-on-year decline by the first nine months of 2025 [3] - In China, consumer behavior has shifted from viewing jewelry as an investment to preferring lower-premium investment products, such as small gold bars, contributing to a decline in jewelry demand [3] - The significant drop in jewelry demand has led to a further decline in net gold demand from the manufacturing side, projected to approach zero by 2025 [3] Market Resilience - Despite the decline in pure gold weight in jewelry, the total value of gold jewelry manufacturing has been on an upward trend since mid-2020, reaching a new high this year [6] - In the U.S., consumer spending on jewelry and watches has consistently grown over the past decade, projected to reach $104.6 billion in 2024, with gold's share in jewelry consumption increasing [8] - Global jewelry containing gold is valued at over $112 billion in the first nine months of 2025, reflecting a 14% year-on-year increase, indicating sustained consumer enthusiasm for gold jewelry despite weight declines [8]

Core Points - Mexico's government has postponed the implementation of high tariffs on Chinese goods originally scheduled for November, now set for December due to rising opposition from the business community and within the ruling party [1][5][18] Group 1: Economic Impact - A significant portion of Mexico's manufacturing relies on Chinese imports, with 60% of raw materials for some automotive parts coming from China, leading to concerns that tariffs could increase production costs by 30% [3][16] - In 2024, Mexico's imports of machinery and electronic components from China reached a record $28 billion, accounting for 35% of the country's total imports in these categories [3] - The average tariff rate on Chinese goods in Mexico is currently 8.5%, but proposed new tariffs could raise rates to as high as 50%, potentially reducing imports from China by approximately 30%, equating to an annual loss of $12 billion [16][18] Group 2: Political Dynamics - Internal divisions within the ruling party regarding the tariff proposal have been highlighted, with some members arguing against sacrificing domestic business interests to appease the U.S. [5][18] - The Mexican government has received 17 formal objections from various trade associations detailing the negative impacts of the proposed tariffs, including price increases and job losses [5][16] Group 3: Trade Relations - The easing of U.S.-China trade tensions has provided Mexico with more flexibility in its trade policies, with the Mexican peso appreciating by 1.7% against the dollar in May following these developments [9][10] - Mexico's imports from the U.S. increased by 8.2% in the first half of 2025, while imports from China decreased by 2.1%, indicating a shift in trade dynamics [10] - The U.S. has pressured Mexico to impose tariffs on 54 categories of Chinese goods, with potential losses estimated at $1.8 billion annually for Mexico if these demands are met [12][16] Group 4: Industry Concerns - The automotive industry in Mexico, which relies heavily on Chinese parts, could face significant supply chain disruptions if tariffs are implemented, with over $8 billion worth of parts imported annually from China [18] - The logistics, retail, and manufacturing sectors, which employ over 2 million people in Mexico, are at risk of losing 100,000 to 150,000 jobs due to the proposed tariffs [16]

Core Insights - Artificial intelligence (AI) is identified as the greatest investment opportunity of the current era, with a strong emphasis on the urgent need for energy to support its growth [1][2][3] - A specific company is highlighted as a key player in the AI energy sector, owning critical energy infrastructure assets that are essential for meeting the increasing energy demands of AI technologies [3][7][8] Investment Landscape - Wall Street is investing hundreds of billions into AI, but there is a pressing concern regarding the energy supply needed to sustain this growth [2] - AI data centers, such as those powering large language models, consume energy equivalent to that of small cities, indicating a significant strain on global power grids [2] - The company in focus is positioned to benefit from the anticipated surge in electricity demand driven by AI advancements [3][6] Company Profile - The company is described as a "toll booth" operator in the AI energy boom, collecting fees from energy exports and benefiting from the onshoring trend due to tariffs [5][6] - It possesses critical nuclear energy infrastructure assets, making it a central player in America's future power strategy [7] - The company is noted for its capability to execute large-scale engineering, procurement, and construction projects across various energy sectors, including oil, gas, and renewables [7] Financial Position - The company is completely debt-free and has a substantial cash reserve, amounting to nearly one-third of its market capitalization, which positions it favorably compared to heavily indebted competitors [8][10] - It also holds a significant equity stake in another AI-related company, providing investors with indirect exposure to multiple growth opportunities without the associated premium [9] Market Sentiment - There is a growing interest from hedge funds in this company, which is considered undervalued and off the radar, trading at less than seven times earnings [10][11] - The company is recognized for delivering real cash flows and owning critical infrastructure, making it an attractive investment option in the context of the AI and energy sectors [11][12]