Core Argument - The article critiques the Trump administration's industrial and tariff policies, labeling them as "rule by deal" rather than effective economic nationalism or state capitalism [1][3]. Group 1: Industrial Policy and Economic Nationalism - The Trump administration's approach involves making private deals with select companies, leading to a lack of transparency and accountability in the industrial landscape [5][4]. - There is a concern that this method of picking winners and losers could misallocate private capital and enrich certain market actors without a coherent strategy [13][12]. - The need for a comprehensive institutional approach to industrial policy is emphasized, particularly in critical sectors like rare earths and semiconductors [8][9]. Group 2: National Security and Critical Minerals - The dominance of China in critical minerals and semiconductors necessitates government intervention to ensure national security [7][6]. - A clear mission and institutional capacity are required to develop domestic production capabilities for critical minerals [9][10]. - The development finance corporation is suggested as a suitable entity to facilitate investments in critical industries [10]. Group 3: Tariffs and Trade Policy - The article discusses the implications of tariffs, suggesting that aggressive and sweeping tariffs could harm economic growth and consumer prices [20][22]. - Targeted tariffs may serve specific public policy goals, but broad tariffs across all imports could lead to higher costs for consumers [21][20]. - The potential for a domestic automobile market to emerge due to tariffs raises concerns about competitiveness and consumer choice [18][19].

You've said you have almost no equity left. >> It's getting down. It's getting down. It's getting low.>> Do you think you can make it another year. >> I don't know. I don't know.Do you just keep going rolling the dice hoping things will turn. I mean, it's not looking good. President Trump has promised a new bailout for American farmers, as much as $13 billion that he said would be paid for by the tariffs.>> We're going to take some of that tariff money that we made. We're going to give it to our farmers who ...

Every time we go buy something now, you know, the tariffs, what I've seen, uh, the tariffs passed down to the consumer. >> So, if you have to go buy a new sprayer, like the one behind you, >> anything that comes from China that's on that sprayer, there's a tariff and they're just going to pass it directly to us. So the tariffs are hitting you more on the purchasing end than they are on the crop sales. ...

Core Insights - Sony has raised its operating profit forecast for the year ending March 2026 by 8% to 1.43 trillion yen ($9.5 billion) due to a smaller-than-expected impact from US tariffs and strong performance in its entertainment and chips businesses [1] - The operating profit for the July-September quarter increased by 10% to 429 billion yen, driven by higher sales in its music unit and chips business, with the success of the animated movie "Demon Slayer: Kimetsu no Yaiba Infinity Castle" contributing significantly [1] Group 1: Financial Performance - Sony's games business experienced a decline in profit during the second quarter due to impairment losses related to the "Destiny 2" video game, with user engagement falling short of expectations [2] - The company sold 3.9 million units of its PlayStation 5 during the quarter, showing a slight increase compared to the same period last year [3] - Sony anticipates a 50 billion yen hit from tariffs for the financial year, a reduction from the previously estimated 70 billion yen impact [7] Group 2: Strategic Initiatives - The company plans to expand its PlayStation install base during the year-end sales season while balancing this expansion with overall segment profitability [5] - Sony has sold 3.3 million units of "Ghost of Yotei," which has received positive reception since its launch last month [6] - The company announced a share buyback plan of up to 35 million shares for approximately 100 billion yen, resulting in a 5.5% increase in its share price following the earnings release [7] Group 3: Market Trends - The growth of the anime sector is a key focus for Sony as it transitions from being known primarily for household electronics to becoming an entertainment powerhouse [2] - The anticipated release of "Grand Theft Auto VI" in November next year is expected to boost Sony's PlayStation business as customers upgrade their consoles or purchase new gaming hardware [5] - Sales of larger image sensors have positively impacted Sony's chips unit, with customers potentially bringing forward purchases due to tariffs and other factors [6]

What do we know then about this potential deal between the Swiss and the US. Well, as you were saying, our reporting shows that the Swiss are optimistic they'll get this rate down to 15%, which would bring it into line with the EU. And obviously, a significant amount of relief there for the Swiss.Donald Trump was asked about it. He said that he thinks there also might be a deal before too long, but he wasn't drawn on that essential figure of 15%. What we know is the Swiss have been mounting essentially a ch ...

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 capitalize on the surge in demand for electricity driven by AI, making it a potentially lucrative investment opportunity [3][6][8] 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 and is capable of executing large-scale engineering, procurement, and construction projects across various energy sectors [7][8] - The company is noted for being debt-free and holding a significant cash reserve, which is approximately one-third of its market capitalization [8][10] Market Position - The company has an equity stake in another prominent AI venture, providing investors with indirect exposure to multiple growth opportunities in the AI sector [9] - It is trading at a low valuation of less than 7 times earnings, which is attractive given its involvement in both AI and energy [10] - The company is gaining attention from hedge funds, indicating a growing recognition of its potential value in the market [9][10] Future Outlook - The ongoing AI infrastructure supercycle, combined with the onshoring boom and a surge in U.S. LNG exports, positions the company favorably for future growth [14] - The influx of talent into the AI sector is expected to drive continuous innovation and advancements, further solidifying the importance of energy infrastructure [12][13]

President Donald Trump’s idea of mailing $2,000 “dividend” payments from tariffs to US citizens marks a throwback to the stimulus checks distributed during the Covid crisis, with similar economic risks. https://t.co/0635GMab2o ...

Sheinbaum’s plan to impose steep tariffs on Chinese imports has been delayed until at least December as opposition from Mexico’s private sector and members of the ruling party stalls congressional debate https://t.co/xvDRcqQi10 ...

Core Insights - Consumer spending showed a rebound in October, indicating a strong start for the retail sector in the fourth quarter, which is promising for the upcoming holiday season [1][6] Retail Performance - The CNBC NRF retail monitor reported a 0.6% increase in retail spending excluding auto and gas compared to a 0.7% decline in September, with a year-over-year rate decreasing to 5% from 5.4% [2] - Core retail measures, excluding restaurants, also saw a 0.6% increase from a 0.5% decline, with the year-over-year rate dropping to 4.9% from 5.7% [2] Economic Factors - NRF economists noted that consumer spending remains robust, supported by wage growth outpacing inflation, low unemployment rates, and positive wealth effects from strong stock market performance [3][8] - Despite high inflation and tariffs affecting consumer sentiment, nine out of twelve retail sectors experienced growth in October, particularly digital products (up 2%) and clothing and accessories (up 1.4%) [4] Sector Analysis - The only sectors showing negative performance included building and garden supplies (down 0.8%) and gas station sales, highlighting a mixed picture in retail [4][5] - There is a notable split in spending patterns between higher and lower-income consumers, with wealthier consumers potentially driving spending increases due to stock market gains [6][7] Future Outlook - The October performance is seen as a positive indicator for November and December, which are critical months for retail, with historical data suggesting that a good October can lead to strong holiday sales about 40% of the time [9][10]

Group 1: Q3 Earnings Overview - The Q3 earnings season has started positively, with 91% of S&P 500 companies reporting results, and analysts expect a 13.1% increase in earnings per share, marking the fourth consecutive quarter of double-digit growth [2][9] - Initial expectations were lower, with analysts predicting a 7.9% increase in earnings per share as of September 30 [3] - Companies have reported more positive earnings surprises (82%) than negative ones (18%), with 77% of companies also reporting positive revenue surprises [9] Group 2: Notable Company Earnings - Instacart reported GAAP earnings per share of $0.51, exceeding estimates of $0.50, with revenue of $939 million, surpassing expectations of $933 million [6] - Constellation Energy's stock fell nearly 6% after reporting GAAP earnings per share of $2.97, missing estimates of $3.05, although revenue of $6.57 billion exceeded expectations [12] - Wendy's reported revenue of $549 million, a 3% decline year-over-year but above estimates of $534 million, with earnings per share of $0.24 beating expectations of $0.20 [16][17] - Block's shares fell 15% after reporting earnings per share of $0.54 on revenue of $6.11 billion, missing estimates of $0.68 per share and $6.31 billion in revenue [23] - Airbnb's stock rose 5% as it reported 133.6 million nights booked, a 9% increase year-over-year, driven by international bookings [32][33] Group 3: Industry Trends and Challenges - The earnings growth rate for Q3 is on track to increase from Q2, driven by tech enthusiasm around artificial intelligence and ongoing tariff concerns [10] - Consumer-facing companies are experiencing pressures from affordability and sentiment, with mentions of government shutdown impacts increasing [11] - Under Armour reported a net loss of $0.04 per share, with revenue declining 4.7% year-over-year, attributed to challenging consumer demand [35][36]