
The Big Picture: D.C. Developments for Fed, Iran, Senate
Mike Townsend (@CharlesSchwab) provides his D.C. insights on Fed Chair Kevin Warsh's relationship with President Trump and what it means for the current rate cycle.
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Mike Townsend (@CharlesSchwab) provides his D.C. insights on Fed Chair Kevin Warsh's relationship with President Trump and what it means for the current rate cycle.

Software stocks feel the pain after a slew of earnings. Some were good and some were bad but it doesn't matter to investors.

Russia slightly increased crude and condensate output in July from June by around 100,000 barrels per day (bpd) to above 9 million bpd, supported by strong oil exports and a recovery in refinery throughput, two industry sources told Reuters.

With low valuations for the sector overall, follow-on common equity offerings for US real estate investment trusts have declined significantly in recent years. US equity REITs have largely preferred issuing common stock through at-the-market offering programs as opposed to more standard follow-on equity offerings in recent years. US REITs raised $77.58 billion through common stock sold under their ATM programs between July 1, 2022, and March 31, 2026.

Baylin Technologies Inc. (BYL:CA) Q2 2026 Earnings Call Transcript

Zurich Insurance Group AG (ZUR:CA) Q2 2026 Earnings Call Transcript

The S&P 500 (SP500) is downgraded to Hold, with limited upside for the remainder of 2026 after a robust ~13% YTD rally. Recent gains stem from easing geopolitical risks, semiconductor sector strength, and positive earnings surprises among top index constituents.

A stock market that is rapidly climbing a wall of worry could give some people reason to pause and consider ways to protect their investments.

Unitree Robotics wants to raise about $900 million in an I.P.O. that tests market interest in humanoid robots, a technology that wows but has yet to prove its viability.

The U.S. market has been best for real-estate investment trusts over the past 10 years, led by funds focused on data centers.

The last time layoffs in the U.S. were as low as they are now, NASA was landing astronauts on the moon, young Americans were rocking out at Woodstock and President Richard Nixon was moving into the White House.

US indices are a bit mixed in the early part of the Thursday session.

US stocks gained on Thursday as Wall Street was optimistic about a potential deal to reopen the Strait of Hormuz. However, technology stocks were weak following the latest corporate earnings reports.

U.S. natural gas futures are lower as the market awaits weekly inventory data. Analysts in a WSJ survey expected a 31 Bcf storage build.

Brookfield Renewable Corporation remains a buy as the market undervalues its growth potential despite a 20% share price decline. BEPC's Q2 net loss reflects non-cash items, while operating cash flow and FFO remain robust, supporting a secure 4.7% yield. The Aypa Power acquisition adds 6.5 GW contracted capacity and a >20 GW development pipeline, with 95% under long-term agreements averaging 17 years.