All the major indices tracking to close the week higher. The S&P and NASDAQ pacing for their third positive week in four and the Dow on course for its second positive week in three. Let's bring in Schwab Asset Management CEO and CIO Omar Agalar.Uh Omar, thanks for being here to round out the week. Uh there's been a lot of macro news over the past two weeks. Uh how do you kind of assess the market's reaction to all of it. Do you think it's it's moving in an appropriate function.Well, the market seems to be u ...

Core Viewpoint - The interim management statement for Hargreave Hale AIM VCT PLC highlights a strong recovery in equity markets, particularly in the AIM sector, despite ongoing economic challenges in the UK. The company has reported its best quarterly performance in four years, driven by positive investment returns and strategic positioning in the market [2][4][6]. Investment Performance - The unaudited NAV per share increased by 1.95 pence from 34.48 pence to 36.43 pence, resulting in a total return of 5.66% for the quarter [7]. - Qualifying investments returned 1.42 pence per share, while non-qualifying investments gained 0.71 pence per share [7]. Market Overview - Following Liberation Day, market volatility was replaced by a more constructive outlook, with expectations of tariffs on US imports settling between 15-20%, which is lower than initial fears but higher than historical averages [3]. - The UK market benefited from an early trade deal with the USA, leading to strong gains in equity markets, particularly in AIM, which recorded a 12.1% increase [4][6]. Economic Context - The UK economy continues to face challenges, with a rising unemployment rate and mixed consumer confidence. However, June PMI data indicates a potential improvement after two months of contraction [5]. - Inflation is expected to peak in the current quarter, allowing for potential interest rate cuts, which could positively impact small company valuations [5]. Qualifying Investments - Cohort saw a significant increase of 29.5% in valuation, supported by a strong order book and positive trading outlook [9]. - The Property Franchise Group reported a 31.0% increase in valuation, driven by strong EBITDA growth following strategic mergers and acquisitions [10]. - Gousto's valuation increased by 51.8% due to good operating performance and rising peer valuations [11]. - Eagle Eye experienced a decline of 44.8% due to the loss of a significant contract, impacting revenue forecasts [12]. - Oberon Investments Group and Maxcyte saw declines of 18.6% and 22.5%, respectively, with Maxcyte de-listing from AIM [13][14]. Non-Qualifying Investments - The non-qualifying portfolio saw an increase of £1.28 million, with Chemring and Wickes performing well, while Shell and Hollywood Bowl faced declines [15]. Portfolio Structure - The VCT ended the period at 93.25% invested, comfortably above the HMRC defined investment test [16]. - The market for new qualifying investments remains subdued, with only two VCT qualifying IPOs in the last 12 months [17]. Share Buybacks and Discount Control - The company acquired 1.5 million shares at an average price of 33.54 pence, with the share price increasing from 33.8 pence to 34.10 pence during the quarter [22]. Post Period End - As of 18 July 2025, the unaudited NAV per share decreased slightly to 36.34 pence, while AIM increased by 0.54% [23].

Market Trend & Outlook - Piper Sandler's technical analysis indicates the market trend is still higher, targeting 6,600 for the year-end objective [4][5] - The market is making new highs despite some negative sentiment and down AI numbers, suggesting a "hated market" [5][6] - The S&P 500 has broken out to all-time new highs, contrasting with previous concerns of a potential breakdown to 2,000 levels [3] Valuation & Market Structure - Valuations matter, but the market has been shrinking with 20%-25% fewer stocks due to share buybacks [7] - The pool of available equity has decreased from 8,000 to about 3,800, while the amount of capital has increased [9] - Historical price-to-earnings ratios may not be as relevant due to the shrinking market [8] Cyclical Stocks & Housing Market - Cyclical stocks, including homebuilders like Horton (better-than-expected results), LAR, BLD, and BLDR, are showing constructive patterns and reversing downtrends [11][12] - Housing numbers are good, suggesting a stronger consumer environment than people are thinking [10][12] Commodity & Industrial Signals - Copper is breaking out to an all-time new high, signaling a healthy economy and a meaningful pickup in the industrials [12][13]

Market Trends - Saudi Arabia and the UAE's equity market fortunes are diverging [1] Project Updates - Neom's 'Line' project is undergoing a strategic review [1]

The plight of the UK equity market is not unique. The rise of passive funds and private markets has put pressure on stock markets across the globe. But as a new CPI report notes, there's plenty we could and should do to bring growth back. https://t.co/caF5NSiyfq ...

Market Trend - The equity market is estimated to reach $125 trillion as it transitions to on-chain solutions [1] - Robinhood is partnering with Arbitrum to bring stocks like OpenAI and SpaceX on-chain [1]

Market Trends - The equity market, valued at $125 trillion, is transitioning to onchain trading [1] - Private stocks of OpenAI & SpaceX will be traded on chain via Robinhood [1] - Similar announcements were previously made with Solana, ByBit & Kraken [1] Investment Opportunities - Potential for altcoin surge if institutional capital enters the onchain market [1]

Bring in Schwab's Lisanne Saunders now. She joins us on the CNBC news. Good to have you on as well, Lisanne.Welcome back. Your thoughts on these markets. Yeah, I mean it's it's not a it's not a huge huge reaction down.We've had obviously worst days just tied to trade news, but um you know if you if you look historically at other surprise um military attacks, you do tend to see a big downward move on the day the two biggest ever were most recently September 11th, maybe no surprise there, and then when North ...

Core Viewpoint - Pebblebrook Hotel Trust's preferred shares have experienced significant sell-offs despite the REIT reporting adjusted funds from operations (FFO) of $0.20 per share for the fourth quarter of fiscal 2024 [1] Group 1: Company Performance - Pebblebrook Hotel Trust recorded an adjusted FFO of $0.20 per share for the fourth quarter of fiscal 2024 [1] Group 2: Market Dynamics - The equity market serves as a powerful mechanism where daily price fluctuations can lead to substantial wealth creation or destruction over the long term [1] - Pacifica Yield focuses on long-term wealth creation by targeting undervalued high-growth companies, high-dividend stocks, REITs, and green energy firms [1]