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A recent profile piece on Alex Soros, the heir to the vast liberal mega donor George Soros’ progressive fundraising network, suggested the younger Soros has hurt the family brand with his public profile in recent years.

The article, posted by New York Magazine this week, takes place in Alex Soros’ luxury penthouse in Manhattan and characterizes the home as an example of his indifference to public opinion, which the story suggests hasn’t been beneficial to the family’s Open Society Foundations.

‘The setting itself is a testament to a certain indifference to public opinion on Alex’s part — or perhaps a lack of awareness,’ the story says. 

‘This past fall, he held a fundraiser at the apartment for vice-presidential candidate Tim Walz, then created a PR headache by posting photos from the event on social media, as is his custom after meeting heads of state and elected officials. (As a former OSF higher-up says, Alex likes to collect ‘shiny objects.’) 

‘It was deemed unhelpful to a presidential ticket straining to underscore its regularness that the son of the 94-year-old hedge-fund billionaire accused of puppeteering the Democratic Party was publicly advertising his centrality to the election effort from a New York City penthouse.’

Soros drew strong criticism on social media over the photo with Walz in his penthouse standing next to a vice presidential candidate who had been labeled as someone who would resonate with rural and working-class voters.

‘This guy goes around saying he’s a small town midwestern guy who understands the struggles of the middle class and then goes to hang out at the floating home in the sky of the world’s biggest billionaire nepo baby,’ digital strategist Greg Price wrote on X at the time.

‘A post like this does nothing to help Kamala Harris & Tim Walz win — if anything, it hurts them,’ journalist Jerry Dunleavy posted on X at the time. ‘So why would Soros post something like this? To publicly signal his power & influence within the next would-be presidential administration.’

New York Magazine wrote that Alex Soros’ ‘fondness for collecting powerful figures embarrasses people at the foundation.’

‘It also underscores his influence. OSF is by some measures the second-largest charitable foundation in the United States, trailing only the Gates Foundation. It gives out roughly $1.5 billion a year, and it spends its U.S. budget not only on liberal causes but also on some of the big dark-money nonprofits aligned with the Democratic Party, including America Votes, the Sixteen Thirty Fund, and the pro-Harris spending group Future Forward USA Action.’

Fox News Digital has documented Soros’ online presence, which includes all the photos he takes with Democratic politicians in recent years, and his Rolodex includes some of the most powerful politicians in the Democratic Party. During the Biden administration, Soros visited the White House over 22 times and met with both Biden and Harris.

His social media profiles have dozens of pictures of him and leading House and Senate Democrats since 2018. The two who appear the most are Senate Minority Leader Chuck Schumer of New York and former House Speaker Nancy Pelosi of California. Alex had at least nine meetings with Schumer, whom he referred to as his ‘good friend.’ 

Soros had at least eight visits with Pelosi, whom he has called the ‘greatest Speaker of the House in American History!’ 

Soros has donated millions to Democrats over the past several years, albeit far less than his father. In 2020, he contributed over $700,000 to the Biden Victory Fund, making him among its top donors. For the 2024 cycle, he maxed out $6,600 in donations directly to Biden’s campaign, federal filings show.

Since the 2018 elections, he has poured more than $5 million into federal political coffers. Records show that his largest contribution was $2 million to the Schumer-aligned Senate Majority PAC during this time. 

He’s also contributed hundreds of thousands in cash to the Nancy Pelosi Victory Fund, Democratic National Committee and Democratic Congressional Campaign Committee. He has given tens of thousands more to state Democratic parties and individual campaigns, many of which were maximum contributions. 

The article notes that the Soros network spent hundreds of millions in the last election cycle trying to elect Democrats and push progressive causes and that Soros was ‘probably the biggest liberal donor of the most recent election cycle’ but that it is ‘hard to know for sure because of untrackable dark-money spending.’

This post appeared first on FOX NEWS

President Donald Trump apparently pushed Israeli Prime Minister Benjamin Netanyahu on Gaza during their latest conversation. Trump told reporters aboard Air Force One that he told Netanyahu ‘You’ve got to be good to Gaza’ because the people there ‘are suffering.’

‘There’s a very big need for food and medicine, and we’re taking care of it,’ Trump told reporters. Trump also noted that Netanyahu ‘felt well’ about the push to get more aid into Gaza.

This message seems to mark a departure from the more aggressive stance he has taken in the past. Before he returned to office, Trump warned Hamas there would be ‘hell to pay’ if the hostages were not released. In February, when Netanyahu visited the White House, Trump suggested that the U.S. take over the Strip and turn it into a ‘riviera.’ 

A few days after Netanyahu’s visit to the White House, Trump said Israel should ‘let all hell break out’ if Hamas failed to release all remaining hostages by the U.S. president’s noon deadline. Hamas did not free the hostages, but Israel held off on resuming the war until March 18. Before ground operations restarted, 33 hostages were freed. 

Aid trucks have not entered Gaza since March 2, and there has been international uproar over the growing crisis inside the Strip. While Trump is seemingly pushing Netanyahu to change his approach to Gaza, Israel has said it would not let aid enter the Strip until the remaining hostages are released.

There is concern and frustration in Israel over allegations that aid has gone to Hamas terrorists instead of the people of Gaza. In November 2024, the Associated Press reported that prices in Gaza skyrocketed after nearly 100 trucks of food and humanitarian aid were looted by armed men. 

While speaking to the United Nations Security Council, freed Hamas hostage Eli Sharabi said his captors often had boxes of supplies with U.N. logos on them in the tunnels. Sharabi, who weighed just 97 pounds when he was released, said the hostages were starved while ‘Hamas eats link kings.’

The Coordinator for Government Activities in the Territories (COGAT), an Israeli agency, said that when the hostage deal was in place, 25,200 trucks entered Gaza carrying 447,538 tons of humanitarian aid.

This post appeared first on FOX NEWS

President Donald Trump is closing in on the first 100 days of his administration this week, wrapping up three months marked by an unprecedented use of executive orders, and continued discussions surrounding a peace deal between Russia and Ukraine. 

Trump met with Norwegian Prime Minister Jonas Gahr Store at the White House Thursday, where he said that he and other allies are trying to wrap up a deal between Moscow and Kyiv in the near future. Still, he said he would stick to his own timeline. 

‘I have my own deadline,’ Trump told reporters Thursday. ‘And we wanted to be fast. And the Prime Minister’s helping us.’

‘He wants it to be fast, too,’ he said. ‘And I think everybody in this, at this time in NATO, they want to see this thing happen.’

The White House did not provide comment to Fox News Digital regarding details of the deadline. 

Trump’s team has signaled optimism about a deal this week, and Vice President JD Vance disclosed on Wednesday that a proposal is on the table. However, he said that time is limited and if neither party agrees, the U.S. will withdraw itself from advancing those discussions. 

The deal would require both Russia and Ukraine to give up some of their territory, but that the lines would remain ‘close to where they are today,’ according to Vance. 

Here’s what also happened this week in the Trump administration:

Hegseth under fire 

The White House went to bat for Secretary of Defense Pete Hegseth, who has come under additional scrutiny following a New York Times report that Hegseth shared information about a March military airstrike against the Houthis in a Signal messaging app group chat that also included his wife, brother and personal lawyer. 

In March, the Atlantic reported about an initial Signal group chat that included Hegseth and Vance to discuss the same attack on the Houthis. In that chat, Atlantic editor-in-chief Jeffrey Goldberg was accidently included. 

The most recent incident has prompted lawmakers to call for Hegseth’s resignation, even though Hegseth maintains no war plans were disclosed in the chats. Despite a report from NPR that said the White House was considering finding a new secretary of defense amid the controversy, the Trump administration has voiced support for Hegseth this week. 

‘He is bringing monumental change to the Pentagon, and there’s a lot of people in the city who reject monumental change, and I think, frankly, that’s why we’ve seen a smear campaign against the Secretary of Defense since the moment that President Trump announced his nomination before the United States Senate,’ White House Press Secretary Karoline Leavitt told reporters Tuesday.

‘Let me reiterate: The president stands strongly behind Secretary Hegseth and the change that he is bringing to the Pentagon, and the results that he’s achieved thus far speak for themselves,’ Leavitt said.

Pope Francis funeral 

Trump and first lady Melania Trump departed Washington Friday morning to attend Pope Francis’ funeral in Rome Saturday. The Vatican announced that Pope Francis died Monday at the Vatican’s Casa Santa Marta. 

‘Rest in Peace Pope Francis!’ Trump said in a Monday post on Truth Social. ‘May God Bless him and all who loved him!’

The pope’s death came a day after Vance, who converted to Catholicism in 2019, met with him in one of the reception rooms of the Vatican hotel just hours before his death. 

Additionally, Trump signed an executive order Monday ordering all U.S. flags be flown at half-staff on all public buildings and grounds, at all military posts and naval stations, and on all naval vessels to remember Francis. The order also applies to all U.S. embassies, legations, consular offices and other facilities abroad, including military facilities and naval vessels and stations.

Former President Joe Biden and his wife, Jill, are also planning to attend the Rome funeral.

Education reforms 

Trump also signed seven executive orders pertaining to education, including several that would incorporate artificial intelligence into K-12 school curricula, modify school discipline and accreditation guidelines, and update requirements for the disclosure of foreign funding to schools.

Meanwhile, Trump’s Education Department also announced Monday it would resume collections on defaulted federal student loans in May for the first time since 2020. 

The first Trump administration paused referring federal student loans to collections in March 2020 during the beginning of the COVID-19 pandemic. But Trump administration officials are concerned that the pause has led the federal student loan portfolio to be ‘headed toward a fiscal cliff if we don’t start repayment in collections,’ according to a senior department official.

‘The result has been that the federal government student loan portfolio has continued to grow, and we’ve got a record number of borrowers that are at risk of or in delinquency and default,’ the senior department official told reporters Monday.

Fox News’ Emma Colton contributed to this report. 

This post appeared first on FOX NEWS

The CAC 40 index has rallied in the past two weeks as concerns about Donald Trump’s tariffs ease. It initially bottomed at €6,765 earlier this month when Trump launched his Liberation Day tariffs. It has bounced back by over 10% from its lowest level this month, and is targeting the year-to-date high at €8,258, up by 10% from the current price. 

The CAC 40 index will be in the spotlight next week as some of its largest constituent companies release their financial results. Some of the top companies to watch will be Airbus Group, TotalEnergies, Société Générale, Capgemini, Vivendi, and Schneider Electric.

Airbus Group (AIR)

Airbus Group share price remains under pressure even as the odds of more Chinese business rose. As a European company, Airbus has seen more orders as many Chinese firms have stopped ordering from Boeing. 

Airbus stock has dropped by over 20% from its highest level this year. This decline is primarily due to Trump’s tariffs, which are expected to lead to margin compression and supply chain issues. 

Therefore, the upcoming earnings will provide more information about its business and how it is navigating the new normal.

Read more: Airbus stock price analysis: big beneficiary of Trump’s trade war

TotalEnergies (TTE)

TotalEnergies will be one of the top CAC 40 companies to watch next week as it releases its financial results. Its stock trades at €52, up slightly from the year-to-date low of €47.63. 

The stock has come under pressure as investors remain concerned about oil demand. Top agencies like the IEA and EIA have all slashed their oil demand estimates this year. There are concerns that crude oil prices will remain under pressure this year.

TotalEnergies raised its dividends and accelerated its share buybacks when it published its results earlier this year. Like its American peers, Chevron and Exxon, it is focusing on shareholder returns as profits decline

Societe Generale (SocGen)

Societe Generale’s share price has surged and is nearing its all-time high of €44.40. Its rally has mirrored that of other top European banks, such as BNP Paribas, Lloyds, and NatWest.

SocGen, as it is commonly known, will publish its financial results next week. While growth is expected to slow, investors are focused on its dividend payouts and share repurchases. It paid investors €1.7 billion last year, and hinted towards more if the European Union suspends implementing Basel rules. 

Schneider Electric (SU)

Schneider Electric stock price remains 22% below its highest level this year as concerns about its growth and tariffs remain. It has, nonetheless, remained 20% above the lowest level this year. 

Schneider Electric’s business has benefited from the ongoing data center boom because of the artificial intelligence craze. In February, it boosted its forecast, with the EBITDA margin expected to be between 19.2% and 19.5%. It expects that its organic revenue will grow by between 7% and 10%.

A key concern for Schneider is that it exports most of its products to the US, which accounts for 36% of sales. As such, most of these products are now costing 10% extra, which may affect its demand.

Other CAC 40 shares to watch

There will be more CAC 40 index companies to watch next week as they release their results. The most notable ones are Legrand, Air France-KLM, Alstom, and Veolia. 

Additionally, the index will react to any trade-related news from the United States. Like other global indices, it will also react to earnings from American powerhouses like Microsoft, Meta Platforms, Apple, and Amazon. Historically, these companies usually have an outsize impact on global earnings because of their size.

The post Top CAC 40 Index shares to watch next week appeared first on Invezz

Wall Street stocks had an eventful April as the fear and greed index plummeted to the extreme fear zone amid Donald Trump’s tariff announcements. The S&P 500 index formed its first death cross in over two years. However, the Berkshire Hathaway stock price did well, and is now hovering near its all-time high. 

Berkshire’s performance has helped Warren Buffett grow his fortune at a time when most billionaires have suffered significant losses. Elon Musk has a net worth of $310 billion, $122 billion lower than where he started the year at. 

Jeff Bezos has lost $36 billion this year, while Mark Zuckerberg, Bill Gates, Bernard Arnault, Larry Ellison, Sergey Brin, and Larry Page have shed over $120 billion in value. 

Warren Buffett, on the other hand, has added over $22.4 billion to his fortune, and is now worth $164 billion. This performance happened for two main reasons: his huge cash position and the fact that most of the portfolio companies are not affected by tariffs.

Berkshire Hathaway stock is supported by cash

The primary reason the BRK stock price has performed well this year is that Warren Buffett has largely shifted to cash over the past few months.

He has sold large positions on companies like Apple and Bank of America, a process that has led to his cash balance being worth over $334 billion. He has doubled that amount since the company had about $164 billion at the end of 2023.

Having a large cash balance benefits Berkshire Hathaway stock in three main ways. First, the cash, unlike stocks, don’t decline when the market is crashing, which helps to provide stability to the firm. 

Second, the large cash hoard means that the company is making free money. That’s because Buffett invests his cash hoard in government bonds, which are now yielding about 4%. As such, its interest income could be worth over $13 billion. 

The company generated an interest income of $13.7 billion last year, significantly higher than its interest expense of $4.9 billion. This means that it made $8.8 billion in interest income.

Furthermore, the cash balance enables the company to make significant acquisitions, particularly now that American stocks have declined. Buffett has a long history of making such acquisitions. For eaxample, Buffett famously bought bank stocks like Goldman Sachs, Bank of America, and Wells Fargo during the last crisis.

BRK stocks not exposed greatly to tariffs

The Berkshire Hathaway stock price has done well because most of the companies in the fund are not exposed to Donald Trump’s tariffs directly. 

Trump has exempted Apple from tariffs because the surge in iPhone prices would be seen by customers. American Express, Bank of America, Coca-Cola, Moody’s, Chevron, and Occidental are not affected directly. 

The same is true with other companies like VeriSign, T-Mobile, Visa, Mastercard, Aon, and Capital One Financial. In other words, Buffett has created an all-weather portfolio that is hard to disrupt.

Berkshire Hathaway stock price analysis

BRK stock price chart | Source: TradingView

The daily chart shows that the BRK stock price has done well in the past few months. It has jumped to near $800,000, and is nearing the all-time high of $807,885. The stock has moved above the 50-day and 100-day Exponential Moving Averages (EMA). 

It has remained above the Ichimoku cloud indicator. Therefore, the outlook for the stock is highly bullish. A move above the resistance level at $807,885 will point to more gains to $1 million, up by 23% above the current level. A drop below the support at $740k will invalidate the bullish view.

The post Berkshire Hathaway stock price is thriving: could BRK hit $1M soon? appeared first on Invezz

The GBP/USD exchange rate has pulled back this week as the US dollar index (DXY) has stabilized. It initially rose to a high of 1.3430 earlier this week and then pulled back to the current 1.3300. This article explores what to expect after the latest UK retail sales data, and as the odds of Bank of England (BoE) rate cuts rise. It also mentions that the GBPUSD pair has formed a cup and handle pattern pointing to more gains in the long term.

Bank of England interest rate cuts odds rise

The GBP/USD pair pulled back this week as investors predicted that the Bank of England would start cutting interest rates more aggressively as concerns about tariffs rose. 

The bond market is also signaling this, with the yield of the ten-year GILTs falling to 4.5%. It has dropped by almost 10% from its highest point in 2024. It has dropped in the last five consecutive days. 

Similarly, the closely-watched five-year yield has dropped to 4% from last year’s high of 4.65%. Bond yields typically drop when analysts anticipate a central bank to cut interest rates.

A key concern for the UK market is that analysts expect the economy to slow this year. In a report this week, the IMF warned that the UK will be one of the most hit economies by these tariffs. It then predicted that the BoE will deliver at least three more interest rate cuts.

The BoE has been one of the most hawkish central banks this year. Unlike the European Central Bank, it has delivered just two cuts this cycle as it remained concerned about the elevated inflation rate in the country. 

Data released on Friday shows that the country’s retail sales did well in March. Total sales rose by 2.6% in March, higher than 1.8% in the previous month. Core sales jumped by 3.3%, a big increase from 1.8%. 

US dollar index has stabilized

The GBP/USD pair has pulled back because the US dollar index (DXY) has stabilized in the past few days. It initially crashed to a multi-year low of $97.95 earlier this month and then rebounded to its current level of $99.53. 

The US dollar has jumped against other popular currencies like the Japanese yen and the euro.

This recovery is primarily because Trump promised not to fire Jerome Powell, the Fed Chair who has maintained a balanced tone on inflation. He has said that the bank will cut rates only if only inflation continues falling.

The US dollar also jumped after Trump signaled that he was open to negotiating with China. He said that Chinese officials were talking to the White House, a statement the Beijing has rejected. 

Read more: DXY: US dollar index outlook if Trump fired Fed’s Jerome Powell

GBP/USD technical analysis: C&H points to more gains

GBPUSD chart | Source: TradingView

The daily chart shows that the GBP/USD exchange rate has surged in the past few months. It rose and hit the crucial resistance level at 1.3430 this week. This was a notable achievement, as it marked the highest level recorded in 2024. It was also the upper side of the cup and handle pattern that has been forming for years. C&H is a popular continuation pattern, and the recent pullback is the formation of the handle section.

In this case, the pattern has a depth of about 10%. Therefore, measuring this distance from the cup’s upper side brings the target price to 1.4770. 

The post GBP/USD forecast: C&H pattern signals more pound gains this year appeared first on Invezz

The USD/CAD exchange rate has crashed, forming a death cross pattern ahead of the upcoming Canadian election. It has plunged from a high of 1.4795 earlier this year to 1.3900.

Canada election ahead

The USD to CAD exchange rate has been in a strong downtrend over the past few weeks due to the decline in the US dollar index (DXY)

The key catalyst for the pair will be next week’s Canadian election on April 28. This election will be a contest between Mark Carney, the current Prime Minister, and Pierre Poilievre. 

Analysts anticipate that Carney’s Liberal Party will win because of the recent trade skirmish with the United States. Before the trade war, Poilievre was expected to win because of Justin Trudeau’s low approval ratings. 

As such, many Canadians see the election as a referendum on who can handle Trump better. Carney has vowed to be tough on Trump and not to cave in. While Poilievre has also vowed to protect Canada’s interests, many Canadians expect him to be softer on Trump.

Trump has implemented tariffs on Canadian goods, ending the USMCA deal that he negotiated in his first term. Most Canadian goods are being charged a 25% tariff on most goods from the United States. 

Trade worth $923B to be disrupted

These tariffs are affecting goods worth over $923 billion. The US exports goods valued at over $441 billion to Canada and then imports about $482 billion. Excluding energy, the US has a trade surplus with Canada. 

The USD/CAD pair will likely react mildly to the election results since the current policies will continue. 

However, the most notable difference will be a Poilievre victory since he has vowed to implement some policy changes, including reducing income tax to 12.75%, increasing tax-free savings account contributions by $5,000, and deferring capital gains taxes if reinvested in the country. 

Economists expect that the Bank of Canada (BoC) will continue cutting interest rates later this year as inflation continues falling. Recent data show that the headline Consumer Price Index (CPI) dropped from 2.6% in February to 2.3%. 

The BoC has been cutting interest rates, moving from a high of 5% to 2.75%. It may continue cutting rates this year.

The USD/CAD pair has also declined due to the recent decline in the US dollar index. It has dropped from $110 earlier this year to below $100. 

USD/CAD technical analysis

USD/CAD chart by TradingView

The daily chart shows that the USD/CAD exchange rate has dropped from a high of 1.4795 in February to the current 1.3900. 

It has dropped below the 50% Fibonacci Retracement level at 1.3940. Also, the pair has formed a death cross pattern as the 50-day and 200-day Weighted Moving Averages (WMA) have crossed each other. 

The pair has formed a bearish pennant pattern, which is characterized by a vertical line and a triangle pattern. Therefore, the pair will likely continue falling as sellers target the key support at 1.3735, the 61.8% retracement point. 

The post USD/CAD analysis: forms a death cross ahead of Canada election appeared first on Invezz

Ocado share price continues to consolidate near its eight-year low as concerns about its growth and profitability accelerate. It has dropped from a record high of 2,916p in 2021 to the current 280p. Its market cap has plunged from over £2.3 billion in 2021 to about $2.34 billion. Is Ocado a good contrarian stock to buy?

Ocado share price technical analysis

The weekly chart shows that the OCDO stock price has been in a strong bearish trend in the past few years. As a result, the stock has remained below all moving averages.

However, there are signs that the stock may surge later this year, especially if it reports strong financial results. 

This chart indicates that it has formed a falling wedge pattern, characterized by two converging trendlines that slope downward. A major bullish breakout typically occurs when the two lines converge, which is currently happening. 

The stock is also showing signs that it has formed a bullish convergence pattern. This is a common pattern that occurs when oscillators, such as the Relative Strength Index (RSI) and the MACD, move upward gradually as an asset continues to fall. 

Therefore, a combination of a falling wedge pattern and a bullish divergence raises the possibility of a bullish breakout. If this happens, the initial Ocado price forecast is about 350p. A drop below the key support at 235p will indicate more downside on the lower side of the wedge. 

Ocado stock chart | Source: TradingView

Potential catalysts for the Ocado stock

Ocado stock price has been in a strong downtrend in the past few years as its growth has stalled, delays in robots warehouse rollouts, persistent losses, and a disappointing financial outlook for the year.

The most recent results showed that Ocado Group’s annual revenue in 2024 jumped to £1.21 billion, up from £1.1 billion a year earlier. This growth primarily occurred due to Ocado Retail, its joint venture with Marks & Spencer, one of the leading retailers in the UK.

The JV leverages Ocado’s expertise in e-commerce with MKS’ national reach across its hundreds of stores in the UK. The two companies own an equal share of Ocado Retail, which MKS paid £750 million for.

Its financial results showed that Ocado Retail had a revenue growth of 13.9% last year as the company continued to gain market share. Ocado also crossed the 500,000 orders per week milestone in 2024 as its business boomed. It also has increased its market share in online retail to 12.9%.

Read more: Ocado share price outlook: buy the dip or sell the rip?

Ocado’s technology business has also grown in the past few years, but this growth is offset by the company’s struggles to secure new partnerships. It has not signed any substantial deal with a retailer in the past few months. Also, rollout to existing clients like Kroger has been slow. 

The other positive is that Ocado is working to boost its profitability. It reported an adjusted EBITDA of £121 million, up from £51 million the previous year. Its free cash flow improved from a loss of £381 million to £163 million.

Ocado faces major challenges ahead, including its slowing technology and logistics business. Most recently, there are signs of a price war with Aldi, which may lead to a slower growth this year. 

The post Here’s why the Ocado share price may surge despite challenges appeared first on Invezz

Grupo Mexico, South America’s biggest mining and transport conglomerate, posted a 17% increase in first-quarter net profit on Friday, supported by higher copper and silver prices and lower production costs.

Net profit reached $1.09 billion, exceeding the $816 million forecast from analysts surveyed by LSEG.

The results were largely driven by an 18% rise in copper prices and a 38% increase in silver prices compared to the same period last year.

Copper production and sales were mostly flat, but the price rally boosted the bottom line substantially.

Grupo Mexico is one of the world’s major copper producers with mining assets in Mexico, Peru, Spain, and the United States.

It also owns a large rail freight and infrastructure business, which helps to diversify its revenue away from passenger services.

Revenue also goes up

Quarterly revenue increased 10% year on year to $4.20 billion.

Grupo Mexico stated that targeted reductions in production costs for copper and associated byproducts helped to boost profit margins throughout the quarter.

The company did not provide particular cost reduction estimates, but instead emphasised operational efficiency throughout its mining units.

In the United States, output from Grupo Mexico’s subsidiary Asarco fell marginally, but this was offset by stable production elsewhere.

Copper sales were broadly in line with the first quarter of 2024, indicating that pricing, not volume, was the primary driver of the increase.

Global uncertainty looms

However, Grupo Mexico did caution that “global trade tensions could affect results in future quarters.”

Copper prices have dropped back since the end of Q1, when trade tensions between the US and China, two of the world’s top copper consumers, started to rise.

Copper was not included in the broad tariffs imposed by US President Donald Trump in March, but analysts caution import limits could be imposed on the metal.

This could put a lid on global demand and pricing as Chinese countermeasures will follow with a heavy-handed thrill.

Grupo Mexico stated it is closely monitoring global trade developments, noting that “tariffs and protectionist trade policies could adversely affect results in upcoming quarters.”

A diversified portfolio offers a cushion

Grupo Mexico’s diversified portfolio offers resilience in the face of external risks.

The company’s freight rail division, one of the largest in Mexico, generates stable cash flow, while its infrastructure arm benefits from domestic investment in public works and energy.

German Larrea, the reclusive billionaire who owns Grupo Mexico, has previously emphasised a long-term strategy centred on efficiency, asset diversification, and commodity market cycles.

That concept appears to be paying off, as the corporation rides the present wave of high metal prices while bracing for potential turmoil ahead.

Grupo Mexico shares climb above key resistance following strong Q1 results

According to Yahoo Finance, as of 9:39 AM CST, Grupo Mexico (GMEXICOB.MX) shares were trading at MXN 103.17, up 0.58% or MXN 0.59 from the previous close.

The stock has been on a strong upward trajectory since the market opened.

The price has broken over the MXN 103.00 psychological resistance level, indicating that investors are optimistic following the company’s better-than-expected first-quarter earnings announcement.

Early trading action indicates good support at MXN 102.58, maintaining the day’s positive tilt.

The post Grupo Mexico reports 17% rise in Q1 net income on higher metal prices, cost efficiency appeared first on Invezz

The benchmark S&P 500 index has recovered nearly 10% in recent weeks after President Trump agreed to a 90-day pause on almost all tariffs other than the ones imposed on China.

Additionally, the White House exempted electronic devices from aggressive tariffs as well.

Still, if the US economy slides into a recession, as many believe it would by the end of this year, the benchmark index could crash to a low of 3,700, according to a senior analyst at Wolfe Research.

The firm’s forecast translates to about a 33% decline in SPX from current levels.

Why is Wolfe super bearish on the S&P 500 index

Wolfe analyst Chris Senyek warns of a sharp downside in the S&P 500 index even if the US sees a “mild” recession in the back half of 2025.

According to Senyek, Trump’s steep tariffs and the subsequent retaliation from other nations could result in a significant hit to corporate earnings this year.

Consequently, the benchmark’s EPS estimates will come down by as much as 15% from the current $266, “in line with the median EPS peak to trough over the past four recessions, of 16.7%,” he told clients in a research note this week.

Note that SPX is already down some 10% versus its year-to-date high in February.

Q1 earnings season has so far been encouraging

A material uncertainty-driven hit to corporate earnings could translate to multiple contractions in 2025.

“If we apply the 15Y average price-to-earnings (P/E) of 16.6x to recessionary type EPS of $225, this implies about a 3,700 level for the S&P 500 in a mild recession,” Senyek added in his report.

That said, the first-quarter earnings season has kicked off on a positive note.

Nearly 160 S&P 500 companies have reported so far, of which 76% have come in ahead of expectations.

Plus, the blended growth rate currently sits at 8%, meaningfully above the 7.2% that experts had forecast at the end of the calendar Q1.

SPX has recently formed a death cross

Investors should note that Senyek’s forecast assumes a mild recession only.

If a severe one hits the economy instead, the ramifications for the benchmark index could be even more dire.

Even in the near term, the S&P 500 stands to relinquish its recent gains as the dreaded “death cross” has recently appeared on its daily chart.

A death cross is when an asset’s 50-day moving average (MA) falls below its longer-term 200-day moving average, and it often indicates bearish momentum ahead.

However, not everyone on Wall Street is as dovish on the SPX as Wolfe Research.

Oppenheimer, for example, continues to see upside in the benchmark index to the 5,950 level, which indicates potential for another 10% gain from current levels.

The post Risk alert: ‘mild recession’ could crash the S&P 500 to 3,700 level appeared first on Invezz