June 20, 2025 04:27 AM GMT Energy Sub-Sector Playbook June 2025 Marketing Deck 2025 June 19, 2025 Morgan Stanley & Co. LLC Devin McDermott Equity Analyst and Commodities Strategist Devin.McDermott@morganstanley.com +1 212 761-1125 Joe Laetsch, CFA Equity Analyst Joe.Laetsch@morganstanley.com +1 212 761-8804 Robert S. Kad Equity Analyst Robert.Kad@morganstanley.com +1 212 761-0065 Dan Kutz, CFA Equity Analyst Dan.Kutz@morganstanley.com +1 212 761-0899 Brian Gibbons, CFA Credit Analyst Brian.Gibbons@morgansta ...

All right. Well, city's head of equity trading strategy recommends going long. High quality stocks right now.Stuart Kaiser is behind the call. Stuart, great to have you with us. Nice to see you.Good to be here. Um, we're talking about tech all-time highs once again, as if last week never happened. As if a trade war never happened.As if a conflict between Israel and Iran isn't happening right now. What do you make of this market move. I mean, I think the recovery today is is just reassurance to the market th ...

Key Takeaways CVX has shut down the Leviathan gas field due to Israeli security directives tied to regional tensions. The halt ends exports to Egypt, intensifying energy strain and disrupting Mediterranean-Europe gas flows. Plans to expand Leviathan's output to 21 bcm annually are now suspended amid escalating geopolitical risks.Chevron Corporation (CVX) , a Houston, TX-based integrated oil and gas company, has confirmed the complete shutdown of its massive Leviathan gas field, situated in the Levant Basi ...

I just laid out a laundry list of potential catalysts and factors at play. Can you tell us why the markets are not reacting more forcefully to everything going on domestically and abroad. I it's really quite a moment when you look at the constellation of of geopolitical risks.But one thing that I can say with the perspective of covering geopolitics and markets for 25 years is that the perceived importance of Middle East conflict and its relationship to the oil price has um declined over time. But I think in ...

With all that said, what do we make uh of the market reaction today. We had the typical bid for gold. We had the atypical uh lack of bid for treasuries and the markets hung in until Iran retaliated.Yeah. And it's it's amazing because a couple days ago it was like whoa, the VIX is grinding below. We're about to go south of 16 now.We're dancing, you know, up near 20. And and if you think about right, those inputs, I mean, the rallying gold. So, gold makes a fresh all-time higher right there around the May 6 h ...

Catalyst anchor Brad Smith breaks down the latest news and market movers for June 13, 2025. Geopolitical risks pressure markets, with stocks sliding following Israel's attack on Iran. President Trump is urging Iran to make a deal. Former Ambassador to Morocco Marc Ginsberg discusses what the Israeli attack on Iran means for negotiations with the US. #youtube #stocks #investing About Yahoo Finance: Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive m ...

Industry Overview - Gold has gained approximately 26% year to date, currently trading near $3,030 per ounce, driven by geopolitical risks and a weaker U.S. dollar [1] - The Zacks Mining - Gold industry has increased by 39.1% year to date, outperforming the Zacks Basic Materials sector's 6.4% and the S&P 500's 0.7% [2] - Robust gold demand is anticipated to continue, with central banks expected to maintain a buying streak of over 1,000 tons [8] Demand and Supply Dynamics - Gold demand reached 1,206 tons in Q1 2025, the highest quarterly total since 2016, with central banks acquiring around 244 tons [4] - Investment demand surged 170% year over year to 552 tons, marking the strongest quarter since Q1 2022, driven largely by China [5] - Global gold ETFs saw inflows of 226.5 tons, with April marking the fifth consecutive monthly increase [6] Company Highlights Newmont - Newmont solidified its position as the world's largest gold producer after integrating Newcrest assets and is focusing on Tier 1 assets [10] - The company has a strong liquidity position and is pursuing several growth projects, including Tanami Expansion 2 and Ahafo North [11] - The Zacks Consensus Estimate for Newmont's 2025 earnings indicates a year-over-year growth of 12.6% [12] Agnico Eagle Mines - Agnico Eagle maintains a strong liquidity position and is advancing several projects expected to enhance production and cash flows [13] - The Zacks Consensus Estimate for Agnico Eagle's 2025 earnings suggests a year-over-year growth of 42.2% [14] Barrick Mining - Barrick Mining is well-positioned to benefit from key growth projects, including Goldrush and Pueblo Viejo plant expansion [15] - The Zacks Consensus Estimate for Barrick Mining's 2025 earnings indicates a year-over-year growth of 34.7% [17] Kinross Gold - Kinross Gold has a strong production profile and is advancing key development projects, including Great Bear and Round Mountain Phase X [19] - The Zacks Consensus Estimate for Kinross Gold's 2025 earnings suggests a year-over-year growth of 52.2% [21] New Gold - New Gold consolidated its interest in the New Afton mine to 100%, projecting a 37% increase in gold production between 2024 and 2027 [22] - The Zacks Consensus Estimate for New Gold's 2025 earnings indicates a year-over-year growth of 91.25% [24]

In the first 100 days of 2025, as Donald Trump began his second presidential term, the stock market experienced one of its worst starts in decades, wiping out billions in investor wealth.Among those who were hurt and are now looking to play defense with investments are large pension funds.What Happened: The California State Teachers' Retirement System, also known as CalSTRS, has a large portfolio with thousands of stocks and other investments.Earlier this year, CalSTRS Chief Investment Officer Scott Chan sa ...

President Trump says he told Apple CEO Tim Cook to scale back plans to produce iPhones in India and instead re-shore manufacturing back to the US — a demand that could complicate the company’s global supply chain strategy.“I had a little problem with Tim Cook yesterday,” Trump said during a state visit to Qatar, referencing his conversation with the Apple chief.“He is building all over India. I don’t want you building in India.” 4 President Trump says he told Apple CEO Tim Cook that the tech giant needs t ...

Core Viewpoint - Interactive Brokers Group, Inc. (IBKR) has reported a significant increase in client Daily Average Revenue Trades (DARTs) for April 2025, driven by higher net new accounts and increased trading activity in options and futures contracts [1][6]. Group 1: Financial Performance - Total client DARTs for April 2025 reached 3,818,000, marking a 63.2% increase compared to April 2024 [1]. - Following the DART announcement on May 1, IBKR shares rose by 2.3%, underperforming the industry but outperforming the Zacks Finance sector [2]. - The company’s net revenues have shown a compound annual growth rate (CAGR) of 21.8% over the last five years (2019-2024) [12]. Group 2: Market Conditions and Client Activity - IBKR has benefited from heightened market volatility and increased client activity due to tariff concerns and rising geopolitical risks [6]. - The momentum in client activity is expected to continue as markets react to tariff impacts across various sectors [6]. Group 3: Product Diversification and Global Expansion - IBKR has extended trading hours for its Forecast Contracts to nearly 24 hours a day, enhancing its trading income [7]. - The company has launched several initiatives, including the introduction of Plan d'Epargne en Actions accounts for French clients and the IBKR GlobalTrader mobile application for global stock trading [8][9]. - The expansion of investment offerings, including mutual funds in the U.K., aims to provide a tax-efficient savings vehicle for investors [7]. Group 4: Technological Advancements - IBKR's technological superiority allows it to process trades across more than 150 exchanges globally [11]. - The company has focused on developing proprietary software to automate broker-dealer functions, contributing to revenue growth [12]. - The introduction of IBKR Desktop marks a significant innovation in its trading platform [9]. Group 5: Valuation and Analyst Sentiment - IBKR shares are currently trading at a price-to-tangible book (P/TB) ratio of 1.12X, significantly below the industry average of 2.77X, indicating potential undervaluation [16]. - Despite a recent downward revision in earnings estimates for 2025 and 2026 by 3% and 3.2% respectively, the projected figures still imply growth [18][21]. - The company is well-positioned for growth in a volatile operating environment, supported by strong technological capabilities and diversified product offerings [22].