The Federal Reserve has finally admitted tariffs are not inflationary.The data is overwhelming. https://t.co/V5ZQV9wtKb ...

President Trump's tariffs just got hit with their biggest threat yet. Not from foreign governments or angry CEOs, but from a federal judge with a copy of the Constitution. Recently, the Court of International Trade dropped a bombshell ruling that could unravel Trump's most aggressive tariffs. And the Supreme Court has agreed to fasttrack the appeal in a constitutional showdown that could refund billions in tariff revenue and send markets soaring or hand Trump unlimited trade war powers. My name is Guy and y ...

Market Overview - The market showed signs of fatigue before Jerome Powell's speech, where he stated that stocks are "fairly highly valued," leading to a slight sell-off in the market [1][2][3] - Powell discussed the economic landscape, highlighting the balance between inflation risks and a weakening labor market, indicating that future rate cuts are not guaranteed and will depend on incoming data [2][3] Federal Reserve Commentary - The week has seen a consistent theme of multiple Federal Reserve speakers, with Mary Daly being one of the notable figures providing commentary [4][5] - The market is expected to digest comments from both Fed officials and the Trump administration, which could influence market sentiment [5] Housing Market Insights - Recent data indicates a modest increase in mortgage applications, with purchases up 0.3% this week, following a 2.9% increase last week, and an 18% increase year-over-year [6][7] - Refinances saw an 8% increase this week, down from 24.4% last week, but still up 42% year-over-year [7] - Mortgage rates are trending downwards, with conforming loans decreasing from 6.39% to 6.34% and jumbo loans from 6.48% to 6.44%, moving closer to the 6% mark [7] Upcoming Economic Data - New home sales are anticipated to be around 649,000 to 650,000, with existing home sales data expected the following day [8] - The market is also awaiting GDP and PCE data later in the week, along with jobless claims, as expectations grow for two more rate cuts from the Fed [8]

Financial Data and Key Metrics Changes - Company reported Q1 fiscal 2026 earnings of $0.70 per share, up from $0.48 per share in the prior year quarter, with adjusted earnings at $0.74 per share compared to $0.50 per share last year [11][12] - Consolidated sales for the quarter were $304 million, an 18% increase from $257 million in the prior year quarter, driven by higher volumes in the building product segment and the inclusion of Elgin Manufacturing [12][14] - Gross margin improved to 27.1% from 24.3% year-over-year, despite a $2.2 million purchase accounting charge related to Elgin [4][12] Business Line Data and Key Metrics Changes - Consumer products segment sales were $119 million, up 1% year-over-year, with adjusted EBITDA of $16 million and a margin of 13.6%, down from 15.1% last year due to lower volumes and tariff charges [15][16] - Building products segment sales grew 32% year-over-year to $185 million, with adjusted EBITDA of $58 million and a margin of 31.3%, up from 28.4% last year, driven by higher volumes and contributions from Elgin [17][18] Market Data and Key Metrics Changes - The consumer environment remains cautious, with demand closely correlated to point-of-sale activities, while the building products segment showed strength in cooling and construction products [16][18] - Elgin Manufacturing contributed $21 million in sales for Q1, enhancing the company's presence in commercial HVAC [18][19] Company Strategy and Development Direction - Company is focused on building a sustainable growth platform through innovation, transformation, and acquisitions, with recent product launches contributing to market share growth [6][7] - The acquisition of Elgin Manufacturing is seen as a strategic move to enhance capabilities in commercial HVAC and broaden market reach [7][19] Management's Comments on Operating Environment and Future Outlook - Management acknowledged headwinds such as cautious consumer behavior and high interest rates impacting residential and commercial activities, yet expressed confidence in future growth prospects [5][9] - The company is committed to optimizing operations and maintaining a strong balance sheet, with expectations for improved free cash flow as capital expenditures normalize [13][14] Other Important Information - The company reported a total incident case rate 40% lower than industry peers, reflecting its commitment to safety [9] - A quarterly dividend of $0.19 per share was declared, payable in December 2025 [14] Q&A Session Summary Question: What drove the margin in the building product segment? - Management indicated strong execution in normalized markets, with solid growth in heating, cooking, and cooling businesses, aiming for EBITDA margins to reach 12-13% over time [24][25] Question: What are the drivers for WAVE's outperformance? - WAVE continues to perform well, driven by strong end markets in education, healthcare, and data centers, with expectations for steady performance [27][28] Question: How are tariffs impacting the business? - Management noted that tariffs have created complexities, but being a domestic manufacturer provides a competitive edge in pricing [30][32] Question: What is the outlook for ClarkDietrich? - Management expects flat to slightly down performance in the near term due to reduced construction spending, but remains optimistic about future recovery [49][50] Question: What is the M&A pipeline outlook? - The company is actively seeking high-margin, low-asset intensity businesses in niche markets, with a solid pipeline for potential acquisitions [52][54]

All right, Jeeoff, let's get into this. The mechanics of this very briefly for just a moment. We just said it's an off thereord event, yet you have uh insights and data coming out the event we're going to hit on.Exactly. How does that work. It's Chattam House rules.So, no individual uh is uh attributed to any statements they make, but we always have for 35 years. We actually created the world's first school for CEOs 35 years ago when I was working behind enemy lines at the evil Harvard Business School. Uh n ...

The EU is looking for answers from the US on steel and aluminum tariffs https://t.co/v3UwV6d4S4 ...

EU trade chief Maros Sefcovic will meet with US Trade Representative Jamieson Greer this week to try and restart stalled talks to lower tariffs on steel and aluminum exports https://t.co/vo1kE9GMS5 ...

Core Insights - Microsoft Corporation (NASDAQ:MSFT) has announced a second price increase for its Xbox gaming consoles in the United States this year, reflecting ongoing cost pressures [1][2]. Price Changes - The new prices will take effect on October 3, with the one-terabyte Xbox Series S rising to approximately $450, the higher-end Series X costing around $650, and the special edition two-terabyte Galaxy Black Series X nearing $800 [2]. - This marks the second price increase in 2023, following an initial hike in May, which was attributed to US tariffs on imports from China that have raised hardware costs and impacted profit margins [3]. Financial Impact - The price of the Series X has increased by about $150 over the past six months due to these factors [3]. - Microsoft Corporation is recognized as a technology company that develops software, cloud services, devices, and solutions, indicating its broad market presence beyond gaming [3].

JD Sports stays confident in the face of tariffs, Saga buoyed by travel and UK defends energy policy -- get briefed ahead of your morning calls with The London Rush https://t.co/vtOsqaYMZN ...

Group 1: Kenvue and Tylenol - Kenvue's shares dropped 7.5% after President Trump linked Tylenol to autism, resulting in a loss of approximately $2.6 billion in market value [2][4] - The company strongly disagreed with the connection, stating that independent science shows acetaminophen does not cause autism [3] - Kenvue's shares rebounded over 6% the following day, indicating a recovery from initial panic, with analysts noting limited risk of new lawsuits and potential impacts on public opinion [4] Group 2: Lithium Americas - Lithium Americas' shares surged 98.7% to $6.10 after reports of the Trump administration seeking a 10% equity stake in the company [5][6] - This interest is linked to the renegotiation of a $2.3 billion Department of Energy loan for the Thacker Pass project, the largest lithium deposit in the Western Hemisphere [5][6] Group 3: Trump Media & Technology Group - Trump Media & Technology Group reported a Q1 operating loss of $12.1 million and a GAAP net loss of $327.6 million, largely due to non-cash expenses [7][8] - The company's stock has been volatile, dropping 21.47% to $48.66 and hitting 52-week lows, with analysts suggesting it behaves like a "meme stock" driven by social media rather than fundamentals [9] Group 4: Tariffs and Market Reactions - President Trump's threats of tariffs on Russia and India have created mixed reactions in the market, with the effective tariff rate expected to approach 20% [10][11] - The Congressional Budget Office noted that tariffs are contributing to inflation and potentially affecting wage growth, indicating a complex economic environment [11] Group 5: Government Shutdown Concerns - The looming risk of a U.S. government shutdown has historically not led to significant market declines, with the S&P 500 rising during past shutdowns [12][13] - However, immediate market sentiment was cautious, with stock futures slipping and gold prices rising, reflecting investor anxiety [13]