Ed Yardeni

DEEP DIVE: Slim Pickin's Among Economic Indicators

Oct 15, 2025 4 min read paid

The following is an excerpt from our October 14 Morning Briefing for institutional investors. We are sharing it with our QuickTakes members today. It isn’t easy being an economist when the government shutdown shuts off the flow of economic data. Nevertheless, the Fed is still open for business and issuing economic releases. So are several private-sector sources of economic indicators. On balance, the data we do have suggest that

Ed Yardeni

WEEKLY WEBCAST: Trump Trade Turmoil, Again

Oct 15, 2025 1 min read paid

The latest US–China aggressions have the financial markets worried about the high stakes of a trade war between the globe’s biggest trading nation and its largest economy. William observes that a disruption to global supply chains would have adverse consequences for earnings, economic growth, and central banks’ pursuit of their mandates. But given the severity of the consequences, we expect a quick de-escalation of the tensions, with both

Ed Yardeni

Gold Is The New Bitcoin!

Oct 14, 2025 4 min read paid

Investors are mining for gold and rare earth minerals. The SPDR Gold Shares ETF (GLD) and the VanEck Rare Earth & Strategic Metals ETF (REMX) are up 57.3% and 104.4% ytd (Fig. 1 below). The trading volumes of both have increased sharply in recent weeks (Fig. 2 and Fig. 3). Both have been benefiting from rising geopolitical tensions between the US and both Russia and China. On October

Ed Yardeni

Will Next Year Be Another Good Year To Go Global?

Oct 13, 2025 4 min read paid

Go Global has outperformed Stay Home so far this year. Based on FTSE data, the US stock market index (up 11.8% ytd) has underperformed the World index (13.4%) so far this year in local currency (chart). Its underperformance has been worse in US dollar terms since the greenback has been weak this year. Among the outperformers this year, in local currency, have been South Korea (56.0%), Spain

Ed Yardeni
David Yardeni

ECONOMIC WEEK AHEAD: October 13 - 17

Oct 12, 2025 3 min read

As the latest episode of the “Trump versus Xi” series airs this week, it's perhaps fitting that the shuttered US government won't be releasing most key data for September. What happened last month, after all, may matter little if the two biggest economies engage in a trade war. The impact of the 130% tariff that President Donald Trump threatens to impose on China, effective November 1,

William Pesek
Ed Yardeni

MARKET CALL: Pullback, Correction, Or Meltdown?

Oct 12, 2025 3 min read paid

Trump Trade Turmoil hit the stock market hard on Friday as President Donald Trump raised the US tariff on Chinese imports from 30% to 130% in retaliation for China’s imposing severe export controls on its exports of rare earth minerals. This all happened ahead of a summit meeting between Trump and Chinese President Xi scheduled for later this month. On Friday, Trump said he might not attend, then changed

Ed Yardeni

DISRUPTIVE TECHNOLOGIES: Banks Learn New Tricks

Oct 10, 2025 3 min read paid

Banks are applying blockchain technology to traditional banking services, aiming to make them faster, cheaper, smarter, and more resilient. JP Morgan (JPM) is among the leaders through its Kinexys division, and the Society for Worldwide Interbank Financial Telecommunication (Swift) announced this week that it’s jumping on the bandwagon. Here’s a look at what these financial giants are doing: (1) Moving swiftly into the future Swift is working to

Ed Yardeni
Jackie Doherty

DEEP DIVE: Is The US Economy Shock Proof?

Oct 9, 2025 5 min read paid

The following is an excerpt from our Morning Briefing (Oct. 6, 2025) for institutional investors. US Economy I: ‘Resilient’ Is Still the Right Word Since a very short, two-month recession in early 2020, the US economy has continued to grow despite numerous shocks (Fig. 3 below). The pandemic hit the US economy during February 2020 and quickly led to the March and April lockdowns that caused a recession during those

Ed Yardeni

Data Centers: Too Much of a Good Thing?

Oct 8, 2025 5 min read

The lure of riches and tight capacity today has money flooding into the construction of artificial intelligence (AI) data centers. Data center construction—just the cost of building the building—has increased to an annual rate of $43.0 billion, up 30% y/y and 322% higher than $10.2 billion four years ago (chart). Add in the costs of chips and servers, and you’re talking about real money.

Jackie Doherty
Ed Yardeni

WEEKLY WEBCAST: Still Roaring

Oct 8, 2025 1 min read paid

Sunshine during my tour of the West Coast and in the stock market last week. But everyone’s on the lookout for signs of an AI bubble. Jeff Bezos has a positive take on bubbles that makes sense to us: They accelerate funding and hasten AI’s tremendous benefits. Revisiting the BRAIN Revolution and our long-standing confidence in technology and its positive impact on the economy. … Also: Pandemics, tangled supply

Ed Yardeni

Sweet Spot For Financials

Oct 7, 2025 3 min read paid

Today, Oracle disclosed that its AI cloud business—particularly server rentals using Nvidia chips—is yielding very slim profit margins. That news weighed on the stock market, especially on technology stocks. Oracle's stock price fell 2.5%. The Magnificent-7 declined 1.1%. Financial stocks also dropped today. They tend to have more leverage and cyclical exposure, so when sentiment sours, they often fall harder than some defensive sectors.

Ed Yardeni

Another Day Of AI Fun In The Sun For Semis

Oct 6, 2025 3 min read paid

Semiconductor stocks have certainly benefited from the AI boom. All those data centers being built will be filled with chips (chart). All those autonomous-driving vehicles will also be stuffed with chips, and so will humanoid robots. And they will all generate more data that will need to be processed. Today's AI winner was AMD. Shares of the chipmaker soared after the company announced a multibillion-dollar deal with OpenAI,

Ed Yardeni

Page 8 of 133