Core Viewpoint - The investment outlook for 2026 is characterized as a "proud bull" market, focusing on profit growth rather than multiple expansion, particularly in midterm election years which tend to bring more volatility [1]. Market Dynamics - Current market dynamics show small caps at all-time highs while the NASDAQ is lagging, suggesting this may not be a temporary phenomenon but indicative of future market conditions [3][4]. - There is an expectation of increased volatility in the tech and communication services sectors as growth rates are questioned amidst ongoing capital investment buildout [4]. Small Cap Performance - Small caps are gaining traction and have been overweighted since the beginning of the year, with fiscal relief measures such as 100% expensing and lower rates benefiting this segment [5][6]. - The overall sentiment towards small caps is positive, with an overweight position in large cap, midcap, and small cap equities [6]. Federal Reserve Actions - The Federal Reserve's recent liquidity announcement marks a shift from quantitative tightening to increasing liquidity, which is viewed as a risk-on move aimed at stabilizing funding markets [7][8]. - The Fed's proactive measures are expected to support market performance, with a potential adjustment in liquidity levels anticipated [8].

My next guest isn't worried. He does say 2026 will be the year of a proud bowl, not a stampeding one. Joining us now is Chris Heisy, the chief investment officer for Mel and Bank of America private bank. Chris, I'm not that up on my western metaphors. So, please uh explain what you see happening here. >> Yeah, it's great to be with you, Kelly. I I would say this. A proud bull is one that looks back and says, "Look at all the hard work we did not just in the last 12 months, but really almost the last 36 mont ...

The Commonwealth Bank of Australia (ASX: CBA) share price had a rough month in November. Here’s how it performed compared to the ASX 200 (ASX: XJO).Last month, the ASX 200 declined by 3%, but the ASX bank share declined by much more.The Commonwealth Bank share price dropped 11%, which was significant underperformance and a large drop for the ASX’s biggest business.During the month, the ASX bank share reported its update for the first quarter of FY26, so let’s see what was unimpressive about it.Disappointing ...

We do expect rates to come down in the US to around 3% by the middle of next year. And that coupled with ongoing economic growth and some moderation in the dollar, is a reasonably good set up, I think, for risk assets and equities in general. You're right that tech stocks have continued to dominate the US market.They make up almost 40% of that index and they've done well. But let's not forget, this year is a year where diversification has really worked. This US stock market has actually underperformed most ...

High-frequency trading firms have posted strong profit growth in India despite regulatory curbs, showcasing their agility in tapping opportunities across the country’s $5.4 trillion equity market https://t.co/VVvLxNS146 ...

Core Insights - BT Brands reported a record profit of $0.15 per share for the third quarter of 2025 [1] - The Restaurant EBITDA increased by 74% to $823,000 [1] Financial Performance - The profit per share reached $0.15, marking a significant achievement for the company [1] - The increase in Restaurant EBITDA to $823,000 reflects strong operational performance [1]

Safaricom, Kenya’s biggest company by market value, grew profit by 52% after narrowing losses in the company’s Ethiopian operations https://t.co/g5HyjtUcXf ...

European companies’ results show they’re navigating US tariffs a lot better than anticipated — a good omen for next year when they’re expected to deliver double-digit profit growth https://t.co/TdyPLePn6s ...

Core Insights - Erste Group Bank raised its annual targets following third-quarter results that exceeded expectations, driven by loan growth and reduced customer deposit costs, resulting in a record high for its shares [1] Financial Performance - The third-quarter results showed significant loan growth, which contributed positively to the bank's performance [1] - Lower customer deposit costs also played a crucial role in enhancing the bank's financial results [1] Market Reaction - The positive earnings report and raised targets led to Erste Group Bank's shares reaching a record high [1]

Core Insights - Restaurant Brands International (RBI) reported a net income of $315 million, or $0.96 per share, for Q3 2025, an increase from $252 million, or $0.79 per share, in Q3 2024 [1] - Total revenues for Q3 2025 reached $2.45 billion, up 6.9% from $2.29 billion in the same quarter of the previous year [1][2] - For the first nine months of 2025, total revenues were $6.97 billion compared to $6.11 billion in the same period of 2024 [2] Financial Performance - The net income attributable to common shareholders for the first nine months of 2025 was $663 million, down from $762 million in the same period of 2024 [3] - The company declared a dividend of $0.62 per common share [3] Business Segment Performance - The international segment saw system-wide sales increase by 12.1%, while same-store sales grew by 4% year-on-year, driven by a 4.2% increase at Tim Hortons Canada and a 3.1% increase at Burger King [2] - Popeyes experienced a decline in same-store sales by 2.4% [2] Strategic Initiatives - RBI's CEO highlighted strong performance from Tim Hortons and the international business, which together account for approximately 70% of earnings [3] - The company is on track to achieve at least 8% organic adjusted operating income growth for the year [4] - RBI reiterated its long-term targets for 2024 to 2028, aiming for more than 3% comparable sales growth and over 8% organic adjusted operating income growth on average [5] Investment Plans - Burger King is advancing its multi-year "Reclaim the Flame" program, which includes up to $700 million in investments through 2028 for advertising, digital enhancements, remodels, and kitchen equipment upgrades [5]