The second-quarter earnings season is in full swing. So far, the results are landing in line or better than the upwardly revised Wall Street estimates. That’s the opposite of how this usually works. Analysts normally trim their forecasts as a year wears on. In 2026, they’ve done the opposite.
Oil has staged an impressive rebound this month as the conflict between the U.S. and Iran has re-escalated. The memorandum of understanding signed on June 17 created a 60-day window for negotiations, but the diplomatic opening lasted only a few weeks. Both sides subsequently accused the other of violating the peace agreement, and military operations have resumed.
In this video, Chuck Carnevale, co-founder of FAST Graphs, revisits one of investing’s most persistent concerns: how should investors prepare for the next recession or bear market? Updating an article and video he originally published in 2021, Chuck explains why he believes investors should prepare for market downturns, but not fear them.
Health care stocks came alive in the second quarter, benefiting from relatively low valuations and a late rotation away from some high-flying tech names. The sector returned 9.5% for the period, good enough to tie for fourth among the S&P 500® Index's 11 sectors.
Pensions are as healthy as they’ve been for a long while. Maintaining tried and true investment strategies has led the way to current funding levels and may support pension stability for years to come.
The equity bull market is expected to continue through the second half of 2026, supported by resilient U.S. growth, AI investment and solid earnings.
In this midyear global outlook summary, the authors revisit Vanguard’s economic and market outlooks and assess how our views have evolved since the start of the year.
The ETF market saw a push in capital away from the concentrated U.S. tech sector to defensive broad market exposure, short duration bonds, and commodities. The shift in flows is amplified by the semiconductor market pullback, interest rate uncertainty, and ongoing geopolitical tensions in the Middle East.
Emerging markets are quietly having their best decade in a generation, and most global investors still don’t own enough. The case for investing in emerging markets today is not the tired characterisation of a high growth, low valuation opportunity.
Healthcare systems across the country are facing a difficult reality. Costs are rising faster than revenues, balance sheets are under pressure, the pacing of private market allocations are harder to manage, and liquidity has become an important topic for many organizations.
It may seem premature to focus on the November US midterm elections. Polls will shift, economic data will evolve and unexpected events will reshape the political landscape in the months ahead.
Today we’ll consider the interaction between long-term interest rates, the Fed’s limited ability to influence them, inflation and the housing market. And because home prices are the biggest concern for many households, we’ll start with a look at the latest changes there. And then look at the Federal Reserve’s likely reaction.
It is one of the great paradoxes of our time: Americans have never been richer — or more negative about the economy.
Election season often follows a familiar script. Investors debate congressional control, speculate on policy outcomes and search for clues about what markets might do next.
The U.S. energy sector has outperformed in 2026, driven primarily by geopolitical-related supply fears, elevated oil prices, and rising demand from the AI infrastructure buildout. While broad energy funds have also surged, investors can potentially enhance exposure by targeting specific segments of the energy market.
In June, market news continued to be dominated by the Middle East conflict as frequent flare-ups in hostilities gave way to repeated ceasefire efforts and the signing of a high-level memorandum of understanding between the US and Iran.
Artificial intelligence operates at speeds and levels of complexity that its human creators can’t match. So what happens when it’s unleashed on financial markets?
Semiconductor exchange-traded funds have gained more than 25% this year. Intel Corporation’s (INTC) second-quarter earnings report after today’s close could test whether that rally continues.
Google searches for "can I afford a home" are at their highest level in nearly two decades. While a Google search on its own isn't proof of anything, millions of queries might be a proxy for the national vibe.
Research Affiliates and PIMCO leadership analyze key 2026 midyear market shifts, warning of elevated U.S. and AI equity valuations.
New home sales unexpectedly rose in June while the median price fell to its lowest level in almost a year.
Intel Corp.’s long-awaited turnaround is in progress, now that the artificial intelligence data center boom is fueling demand for its chips.
Gold edged higher, holding firmly above the key resistance point of $4,000 an ounce even as the widening conflict in the Middle East fuels expectations for tighter monetary policy.
During periods of elevated market stress, including those that see pinched corporate bonds, collateralized Loan Obligations (CLOs) often outperform other corporate bond assets. Add to that, CLOs often emerge from those rough patches in strong form, delivering impressive returns a year after downturns.
BlackRock Inc. began marketing $12.3 billion of high-grade bonds to fund a Meta Platforms Inc. data center project, testing investor appetite amid growing concerns about excessive AI infrastructure spending.
US equity futures on Friday were little changed, indicating stocks are poised to steady from the deepest one-day drop in a month, as Brent crude prices fell below $100 a barrel and a selloff in Big Tech shares eased.
Those who are familiar with Vanguard’s ETF lineup are likely well-acquainted with the Vanguard S&P 500 ETF (VOO). After all, this fund — which provides low-cost exposure to the S&P 500 — is currently the largest fund in terms of AUM.
Washington, DC is stepping up to borrow $1.2 billion this week at its annual municipal debt sale, tapping the market as its credit stabilizes.
Equity markets have shown resilience amid persistent headwinds, supported by index evolution and earnings strength
Russ Koesterich explains gold’s recent fall and lays out his argument for why investors should continue to hold a modest position in their portfolios.
It's difficult to call any stretch a calm, quiet summer week, but this one would seemingly fit the bill. Earnings from Alphabet (GOOGL), Tesla (TSLA), and IBM (IBM) are the standouts, along with a slew of cyclicals reporting Q2 results.
Electricity demand is surging all over the world. To meet this demand, vast investments in power generation need to be made, and grids need to be overhauled and expanded. Ramping up electricity generation and delivery is extremely expensive, and electricity prices have spiked up throughout much of the developed world.
Resilient earnings, improving industrial activity and the AI investment cycle should continue to support equities, according to Putnam Equity’s Shep Perkins. But the same forces driving the market higher are also making companies harder to value.
The summer has once again brought a miasma of wildfire smoke across wide stretches of the nation, leading to hazy views and slower activity. The clouds in our outlook are not merely atmospheric. A failed ceasefire and renewed conflict in the Middle East have created new reasons to worry about economic performance.
From severe wildfires in northern Ontario to record heat across Europe, extreme weather is back in the headlines. Such events are becoming more frequent and intense, and the risks associated with them are testing the limits of insurability. With our research partners at Columbia Climate School, we examine how strains on the insurance system can transmit climate-related risks through the capital markets.
Inflation remains above target, especially the Federal Reserve’s preferred core Personal Consumption Expenditures (PCE) inflation measure, as choppy data have challenged the view that disinflation will proceed smoothly.
Kevin Warsh’s early overhaul of Federal Reserve communication and policymaking suggests investors should prepare for a higher-for-longer rate environment with greater uncertainty around policy signals.
The Kansas City Fed Manufacturing Survey revealed regional activity remained steady in June. The composite index came in at 9 this month, down slightly from 11 in June but still indicating continued expansion.
The Chicago Fed National Activity Index (CFNAI) rose to -0.02 in June from -0.19 in May. One of the four broad categories of indicators used to construct the index decreased from May, and two categories made negative contributions.
The World Cup games that went into extra time were reminders of just how tough it can be for players to keep up their momentum over the long haul.
US Treasuries are offering investors solid protection against losses as yields remain elevated, according to BlackRock Inc.
Intel Corp. is expected to report strong second-quarter earnings after the market close Thursday, but even blowout results likely won’t be enough to reverse the stock’s July slide.
US President Donald Trump said a civil nuclear agreement with Saudi Arabia would be contingent on the kingdom normalizing ties with Israel, throwing cold water on a landmark deal his administration finalized just a day earlier.
Small-cap and mid-cap stocks are outrunning large caps in 2026, and one portfolio manager says the shift has room to run.
Alphabet Inc.’s impressive second-quarter earnings release on Wednesday seemed on course to go down mostly well with investors. Until the earnings call, the Google parent’s share price was up marginally in after-hours trading, buoyed by cloud growth that smashed estimates.
The global luxury industry, which has been grappling with three years of lackluster sales, may gain some relief as wealth generated by artificial-intelligence companies and their trillions of dollars of initial public offerings finds its way into fancy fripperies.
Investors continue to benefit from two powerful tailwinds: strong stock-market performance and bond yields that remain attractive compared with much of the post-financial-crisis period. Higher yields have improved the income generated by fixed income portfolios and given investors more flexibility to balance income, liquidity, and interest rate risk.
Making his first appearance on Capitol Hill since becoming Fed Chair in May, Kevin Warsh delivered the chair's semi-annual testimony on monetary policy and the state of the economy to the U.S. House Committee on Financial Services on July 14 and the Senate Banking Committee on July 15.
AI continues to evolve. Early offerings in the 2010s around machine learning, natural language processing, and predictive analytics helped ignite the Big Data era and allow for the ingestion and processing of both structured and unstructured data at previously unimaginable speeds and volumes.
Silver is becoming increasingly discounted relative to gold, as indicated by the widening of the gold-silver ratio. In other words, silver is on sale once again.
