Norway Oil Fund Makes Record Profit, Buoyed by Asia Tech Stock Rally
The investment portfolio of the world's largest sovereign-wealth fund returned 9.4% in the first half, making a profit of nearly $185 billion before currency effects.
Market News
Russia's Orsk refinery halted processing after August 11 drone attack, sources say
Russia's mid-sized Orsknefteorgsintez oil refinery ceased processing on August 11 after a fire that followed a Ukrainian drone attack, two industry sources said on Wednesday.
Bank of America unveils $250B initiative to modernize US infrastructure
Bank of America is launching a $250 billion initiative to finance US data centers, energy, semiconductors, transportation and other critical infrastructure
AI capex could hit $1.6 trillion next year, says fund manager who sees more echoes of 1998 than the dot-com bust
A T. Rowe Price fund manager thinks the hyperscalers can comfortably fund their investment spending, and moreover, derive high returns on that invested capital with a short payback schedule.
To Infinity And Beyond?
The lending market treated SpaceX less like a conventional new issue and more like the sector's central risk-transfer vehicle. Read more here.
Red-Hot Power Stocks Are Losing Steam
The data center backlash is complicating the picture for power plant owners.
Credo's Growth Story Is Only Getting Started
Credo Technology is rated a Strong Buy, driven by surging AI data center demand and hyperscaler capex. CRDO's revenue grew 205% annually, with operating margins reaching 33.3% and net income projected to exceed $2.4 billion by FY2029. I model a 60x earnings multiple and 3% annual dilution, supporting annualized returns of 30%+ through 2029.
Bank of America to Deploy $250 Billion to Bolster AI and Energy Infrastructure
The bank is joining rivals that are rolling out pledges to back investments in U.S. critical industries.
U.S. Futures Higher Ahead of Key Inflation Report
Futures tied to the the major U.S. stock indexes rose, while oil was higher as the deadlock between the U.S. and Iran continued.
Treasury yields are little changed as investors await key inflation data
The yield on the 10-year U.S. Treasury note — the key benchmark for U.S. government borrowing — was largely flat at 4.682%.
Stock Market Today: Tech Earnings Buoy Stock Futures
Results from Super Micro, CoreWeave rekindle AI trade ahead of CPI data
A stock just surged on news Situational Awareness had bought it. But its current fate is unclear.
Financial market disclosures made by Situational Awareness, the once-soaring hedge fund that had to liquidate its portfolio of stocks, moved a stock on Wednesday. But it's unclear whether the fallen hedge fund actually still owns the company whose stock it moved.
Hedge funds upped short AI bets in July, Hazeltree says
Hedge funds upped short bets on AI-related stocks in July, according to a Wednesday report from data platform Hazeltree, part of a broad shift in the month that saw chipmaker shares tumble around the world
India's HPCL, MRPL seek up to six million barrels crude, documents show
India's state-run refiners Hindustan Petroleum Corp and Mangalore Refinery and Petrochemicals Ltd are seeking up to a combined 6 million barrels of oil through spot tenders, documents show.
Treasury Yields, Dollar Stable Ahead of U.S. Inflation Data
Treasury yields traded steady as investors awaited U.S. inflation data for clues on whether the Fed could raise interest rates.
Hannover Re Posts Lower Net Profit on Currency Hit
The company said it remains on track to achieve full-year guidance despite operating in an increasingly challenging market environment.
Japan fund managers chase retail cash as JGB yields surge
After years of paying investors almost nothing, Japanese government bonds are suddenly worth owning again, and domestic asset managers are hurrying to give ordinary investors a way in.
Houthi attack kills six in first fatalities in Red Sea in over a year; U.S. strikes containership
Iran-backed Houthi rebels killed six people in an attack on a cargo ship in the Bab el-Mandeb Strait. U.S. forces fired missiles at a container ship attempting to breach Washington's blockade of Iranian ports in the Gulf of Oman.
Merchants Bankcorp: Record Asset Base In Q2 2026
Merchants Bancorp is rated BUY due to strong 2Q26 results, robust capital returns, and discounted valuation versus peers. MBIN's net income surged 106% YoY, driven by an 83% decline in credit provisions, though non-performing loans remain above optimal levels. The bank's asset base and loan growth hit record highs, supported by multi-family housing and mortgage warehouse lending.
Nearly A Third Of Tech Has Raised Guidance
With more than 1,500 companies already reporting their Q2 numbers, we can confidently say that this has been one of the strongest earnings seasons relative to expectations in the last couple of decades. During the Q2 reporting period that began back in early July, 77% of companies have reported earnings per share (EPS) that were stronger than consensus analyst estimates.
