Eight years ago, I came to this very summit. I was here. Does anybody remember.I don't know. I remember. Does anybody remember what I said.Yeah, there's a few hands up there. It must have been a great speech. Three people that it's not too many people.But, uh, there's no reason to because you saw whatever I said I did. And for the first time, I laid out the principle that economic security is national security. Economic security, that's for South Korea, that's for any country.But economic security is in fac ...

Everyone was scared of interest rates, China, and the tariff man, but it looks like those three things are going to align and push stocks and bitcoin higher into the end of the year. ...

Core Insights - Carillon Eagle Small Cap Growth Fund's third-quarter 2025 investor letter indicates a sustained upward rally in equity markets, driven by AI acceleration, reduced inflationary impacts from tariffs, and prospects for interest rate cuts from the U.S. Federal Reserve [1] - The Russell 2000® Growth Index increased by 12.19% in the quarter, slightly underperforming the Russell 2000 Value Index, which rose by 12.60% [1] Company Highlights - Zurn Elkay Water Solutions Corporation (NYSE:ZWS) is identified as a key stock in the fund's portfolio, with a one-month return of -1.65% and a 52-week gain of 28.22% [2] - As of October 28, 2025, Zurn Elkay's stock closed at $46.03 per share, with a market capitalization of $7.712 billion [2] - The company has outperformed broader non-residential construction trends and has effectively navigated tariff challenges, as noted in its recent earnings report, which exceeded investor expectations [3] - Recent product launches and favorable legislative trends are expected to positively impact Zurn Elkay's core institutional end markets, providing growth momentum [3] Market Position - Zurn Elkay Water Solutions Corporation is not among the 30 most popular stocks among hedge funds, with 24 hedge fund portfolios holding the stock at the end of the second quarter, down from 26 in the previous quarter [4] - While Zurn Elkay is recognized for its potential, certain AI stocks are considered to offer greater upside potential and less downside risk [4]

Core Insights - Adidas' third-quarter sales in North America decreased by 5% due to a weak dollar and cautious U.S. retailers amid uncertainty regarding the impact of tariffs [1][2] - Despite the decline in North America, global revenues increased by 3% to a record 6.63 billion euros ($7.73 billion) [1] - The strong euro negatively impacted sales by 300 million euros, but when adjusted for currency, North American sales rose by 1%, slower than the overall currency-adjusted growth of 8% [2] Tariff Impact - Adidas anticipates that Trump's tariffs will reduce its operating profit by 120 million euros this year, with the most significant impact expected in the fourth quarter [3] - This estimate was revised down from an initial projection of 200 million euros due to price hikes and supply chain adjustments that mitigated some of the tariff effects [3] Pricing Strategy - The company has avoided raising prices on lower-cost items to cater to price-sensitive customers, instead increasing prices on higher-end products, such as the Samba sneaker, which rose from $90 to $100 [4] - CEO Bjorn Gulden noted that consumer reactions to the new price points have been acceptable, but it is still early to draw definitive conclusions [4] Supply Chain Adjustments - To manage the impact of higher U.S. tariffs, Adidas has reduced its sourcing from China to the U.S. [5] Market Position and Recovery - Despite a challenging consumer environment and excess inventory, Adidas continues to show growth [6] - The company is in the process of recovering from the fallout of ending its partnership with the Yeezy brand, which was previously a significant revenue source [6]

South Korea reaches agreement on a trade deal with the US that will lower tariffs. Follow live updates. https://t.co/WGWN4ijsNu https://t.co/jsogHDKvoh ...

South Korea reaches agreement on a trade deal with the US that will lower tariffs. Follow live updates. https://t.co/dzrpRkUwp7 https://t.co/d8Y5s1bX7h ...

Switzerland’s government expects high US tariffs to impact its revenue from value-added tax from next year as the levies weigh on growth https://t.co/ZmrmvY3Uhi ...

Core Insights - Volvo Group is facing significant challenges in its North American market due to trade tensions and a freight slowdown, impacting its outlook [3] - The company will incur a new 25% tariff on imports of heavy-duty and medium-duty trucks and parts starting November 1, adding to existing tariff-related costs of 500 million SEK in Q3 [3] - Volvo has reduced its 2025 sales outlook in North America to 265,000 trucks, a decrease of 10,000 units, due to new tariffs and weak demand [7] Market Conditions - The freight recession is negatively affecting demand, and new tariffs are expected to further slow orders into 2026 [6] - Customers are currently in a "wait-and-see mode" due to high uncertainty in the market [7] Production and Capacity - Volvo Group has a complete U.S. footprint for North American trucks but is preparing for potential tariff agreements between the U.S. and Mexico [4] - The company acknowledges a structural undercapacity in North America and recognizes the need to add capacity for both North and South American markets [4] - Despite the need for increased capacity, it is unlikely that Volvo will expand production in the near term due to ongoing demand challenges [6] Manufacturing Facilities - Volvo Trucks operates an assembly plant in Virginia and additional manufacturing facilities in Maryland and Virginia, along with seven parts distribution centers [5] - Mack Truck, a sister brand, shares a powertrain assembly facility in Maryland and has a new plant in Pennsylvania that recently began manufacturing the Mack Pioneer [5]

Group 1 - Caterpillar's power equipment sales for data centers significantly exceeded Q3 estimates, making it the top performer in the Dow Jones Industrial Average [1] - Despite strong sales, Caterpillar warned of a net tariff cost of $650 million in Q4, which could impact profits [1] - The overall market indexes showed a rebound, with the Dow Jones hitting record highs amid positive comments from Federal Reserve officials [4] Group 2 - Analysts have raised price targets for Caterpillar, contributing to its strong performance in the market [4] - The stock market experienced volatility, with the Dow sinking while the Nasdaq performed worse, indicating mixed investor sentiment [4] - Caterpillar's relative strength rating jumped to 83, reflecting improved market perception [4]

(Reuters) -Online marketplace Etsy named insider Kruti Patel Goyal as its new chief executive officer on Wednesday, succeeding Josh Silverman, who has spent over eight years in the role. Etsy's shares, which have gained about 40% so far this year, were down nearly 7% in early trading, after the company also forecast muted gross merchandise sales (GMS) - a key metric - for the fourth quarter. A long-time Etsy executive, Patel Goyal, will take the helm on January 1, at a time when online retailers and mark ...