2 months ago
AI poster-child Nvidia (NVDA) has jumped 14% year to date, but the ride's been noticeably ******* py according to Seeking Alpha data.
The stock's down nearly 6% in just one week and around the same amount over the past month, a pullback that has coincided with fresh questions over whether the breakneck AI buildout could finally lose momentum.
Consequently, that debate followed calls from some of the biggest names in AI to slow the development of frontier models for safety reasons. But on his latest "Mad Money" broadcast from Dreamforce, veteran ******* yst Jim Cramer made clear he's viewing Nvidia stock through a very different lens.
That's not hard to fathom because Nvidia continues giving bulls ammunition. Fiscal Q2 revenue more than doubled to $96.2 billion, with its Data Center business reaching $89 billion, as it pushes deeper into enterprise AI, including Salesforce's (CRM) new Koa reasoning model built on Nvidia Nemotron.
Cramer's takeaway after a sit-down with CEO Jensen Huang was hardly cautious, though. Instead of treating the latest AI scare as a reason to jump in and out of Nvidia, he framed the stock as something investors need to hold through the noise instead of trade.
#down #latest #billion
The stock's down nearly 6% in just one week and around the same amount over the past month, a pullback that has coincided with fresh questions over whether the breakneck AI buildout could finally lose momentum.
Consequently, that debate followed calls from some of the biggest names in AI to slow the development of frontier models for safety reasons. But on his latest "Mad Money" broadcast from Dreamforce, veteran ******* yst Jim Cramer made clear he's viewing Nvidia stock through a very different lens.
That's not hard to fathom because Nvidia continues giving bulls ammunition. Fiscal Q2 revenue more than doubled to $96.2 billion, with its Data Center business reaching $89 billion, as it pushes deeper into enterprise AI, including Salesforce's (CRM) new Koa reasoning model built on Nvidia Nemotron.
Cramer's takeaway after a sit-down with CEO Jensen Huang was hardly cautious, though. Instead of treating the latest AI scare as a reason to jump in and out of Nvidia, he framed the stock as something investors need to hold through the noise instead of trade.
#down #latest #billion
2 months ago
During the September 10 episode of Mad Money, a caller inquired about Mad Money host Jim Cramer's confidence that Arista Networks, Inc. (NYSE:ANET) will not go down the same path as Ciena Corporation. He replied:
Okay, so let me just tell you, Arista is up a lot this year. My confidence is with Jayshree Ullall. I think she's amazing and I think it every time the stock has dipped, if you've noticed it. Since her tenure began, you have to buy it, and I'm not backing away from that. I feel the same way I do now, the way I did, oh man, how many years ago when we first met her. She is money, and the company's fantastic.
In its second quarter, the company shattered records by delivering its first-ever $3 billion quarter, reporting $3.036 billion in revenue, a 38% year-over-year and over 12% sequential increase. Management lifted its full-year 2026 revenue guidance to approximately $12.6 billion, representing roughly 40% annual top-line growth. The acceleration is supported by deep integration into cloud architectures, where Arista Networks, Inc. (NYSE:ANET) expects its dedicated AI fabrics revenue to reach at least $3.5 billion in 2026, supported by more than 100 **** ulative Etherlink customers.
Bottom-line performance remains equally strong, with non-GAAP diluted earnings per share reaching $1.02, driven by a 49.9% non-GAAP operating margin and $1.3 billion in non-GAAP quarterly net income. Arista Networks, Inc. (NYSE:ANET) ended the quarter with roughly $13.3 billion in cash and marketable securities, offering substantial liquidity. However, its $9.7 billion of non-cancellable purchase commitments also increase working-capital and inventory risk as the company secures components ahead of expected AI demand.
The company's financial results remain heavily tied to two hyperscale customers. According to its 10-K filings, Microsoft accounted for 26%, and Meta Platforms generated 16% of total revenue in fiscal 2025, bringing combined spending from these two cloud giants to 42%. It leaves Arista Networks, Inc. (NYSE:ANET) vulnerable to sudden capital expenditure adjustments, vendor diversification shifts, or project delays by its core buyers.
#billion #NYSE #year
Okay, so let me just tell you, Arista is up a lot this year. My confidence is with Jayshree Ullall. I think she's amazing and I think it every time the stock has dipped, if you've noticed it. Since her tenure began, you have to buy it, and I'm not backing away from that. I feel the same way I do now, the way I did, oh man, how many years ago when we first met her. She is money, and the company's fantastic.
In its second quarter, the company shattered records by delivering its first-ever $3 billion quarter, reporting $3.036 billion in revenue, a 38% year-over-year and over 12% sequential increase. Management lifted its full-year 2026 revenue guidance to approximately $12.6 billion, representing roughly 40% annual top-line growth. The acceleration is supported by deep integration into cloud architectures, where Arista Networks, Inc. (NYSE:ANET) expects its dedicated AI fabrics revenue to reach at least $3.5 billion in 2026, supported by more than 100 **** ulative Etherlink customers.
Bottom-line performance remains equally strong, with non-GAAP diluted earnings per share reaching $1.02, driven by a 49.9% non-GAAP operating margin and $1.3 billion in non-GAAP quarterly net income. Arista Networks, Inc. (NYSE:ANET) ended the quarter with roughly $13.3 billion in cash and marketable securities, offering substantial liquidity. However, its $9.7 billion of non-cancellable purchase commitments also increase working-capital and inventory risk as the company secures components ahead of expected AI demand.
The company's financial results remain heavily tied to two hyperscale customers. According to its 10-K filings, Microsoft accounted for 26%, and Meta Platforms generated 16% of total revenue in fiscal 2025, bringing combined spending from these two cloud giants to 42%. It leaves Arista Networks, Inc. (NYSE:ANET) vulnerable to sudden capital expenditure adjustments, vendor diversification shifts, or project delays by its core buyers.
#billion #NYSE #year
2 months ago
Some offers on this page are from advertisers who pay us, which may affect which products we write about, but not our recommendations. See our Advertiser Disclosure.
Deposit account rates are on the decline — but the good news is you can lock in a competitive return on a certificate of deposit (CD) today and preserve your earning power. In fact, the best CDs still pay rates of 4% or higher. Read on for a snapshot of CD rates today and where to find the best offers.
CDs today typically offer rates significantly higher than traditional savings accounts. Currently, the best short-term CDs (six to 12 months) generally offer rates around 4% APY.
Today, Tuesday, September 8, 2026, the highest CD rate is 4.35%. Marcus by Goldman Sachs offers it on its 18-month CD.
The following is a look at some of the best CD rates available today, Tuesday, September 8, 2026, from our verified partners.
#september #higher #offer
Deposit account rates are on the decline — but the good news is you can lock in a competitive return on a certificate of deposit (CD) today and preserve your earning power. In fact, the best CDs still pay rates of 4% or higher. Read on for a snapshot of CD rates today and where to find the best offers.
CDs today typically offer rates significantly higher than traditional savings accounts. Currently, the best short-term CDs (six to 12 months) generally offer rates around 4% APY.
Today, Tuesday, September 8, 2026, the highest CD rate is 4.35%. Marcus by Goldman Sachs offers it on its 18-month CD.
The following is a look at some of the best CD rates available today, Tuesday, September 8, 2026, from our verified partners.
#september #higher #offer
2 months ago
Wall Street's biggest desks turned defensive as September opened. CNBC's Investment Committee did the opposite. None of its four members plans to sell.
The split comes as stocks enter the month after 27 record closes this year. September is also the weakest month on the calendar.
Scott Rubner runs equity and equity derivatives strategy at Citadel Securities and came from Goldman Sachs. His August 31 note made three points.
Earnings are done.
Companies authorized more than $1.1 trillion in buybacks through August. Those buyers go quiet from September 12.
#investment
The split comes as stocks enter the month after 27 record closes this year. September is also the weakest month on the calendar.
Scott Rubner runs equity and equity derivatives strategy at Citadel Securities and came from Goldman Sachs. His August 31 note made three points.
Earnings are done.
Companies authorized more than $1.1 trillion in buybacks through August. Those buyers go quiet from September 12.
#investment
2 months ago
Some offers on this page are from advertisers who pay us, which may affect which products we write about, but not our recommendations. See our Advertiser Disclosure.
Why we like it: Our top Bank of America card pick excels across several categories. It has no annual fee and a great 0% introductory APR period, which you can use for both new purchases and balance transfers. But it's also an all-around solid cash-back card. You can earn 3% cash back on your choice category (6% for the first year) plus 2% cash back at grocery stores and wholesale clubs, up to a combined $2,500 spent each quarter. Everything else earns 1% cash back.
Choice category options cover plenty of common purchases: gas and EV charging stations, online shopping (including cable, internet, phone plans, and streaming), dining, travel, drugstores and pharmacies, or home improvement and furnishings. Having multiple rewards category options can give you more flexibility, especially as your spending habits change over time.
Read our full review of the Bank of America Customized Cash Rewards credit card.
#cash #back #America #rewards
Why we like it: Our top Bank of America card pick excels across several categories. It has no annual fee and a great 0% introductory APR period, which you can use for both new purchases and balance transfers. But it's also an all-around solid cash-back card. You can earn 3% cash back on your choice category (6% for the first year) plus 2% cash back at grocery stores and wholesale clubs, up to a combined $2,500 spent each quarter. Everything else earns 1% cash back.
Choice category options cover plenty of common purchases: gas and EV charging stations, online shopping (including cable, internet, phone plans, and streaming), dining, travel, drugstores and pharmacies, or home improvement and furnishings. Having multiple rewards category options can give you more flexibility, especially as your spending habits change over time.
Read our full review of the Bank of America Customized Cash Rewards credit card.
#cash #back #America #rewards
2 months ago
Artificial intelligence is changing the landscape in the technology sector. So, as Tim Cook gets set to retire from the CEO spot at Apple (NASDAQ: AAPL) on Sept. 1, investors should probably anticipate some change. But will the stock's performance follow the trend set by Amazon (NASDAQ: AMZN), which has underperformed since Jeff Bezos stepped down as CEO?
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Jeff Bezos helped turn Amazon into an industry-leading technology company, taking it from an e-commerce disruptor selling books to a diversified technology services company. There's no question that he was an important figure at the company. However, he stepped down as CEO in mid-2021. Since that point, Amazon's stock has been a laggard.
As the chart below highlights, Amazon's roughly 50% price advance is well behind the over 100% gain of the Nasdaq-100 and the roughly 90% rise in the S&P 500 index (SNPINDEX: ^GSPC), as of this writing. To be fair, Bezos was at the helm while the company was still a relatively small business, so growth was much easier to achieve. Today, Amazon is a $2.8 trillion market cap technology giant. It is much harder to grow a large business, as it often requires massive capital investments.
That, of course, is showing up in the artificial intelligence (AI) spending underway today. AI really only started to take off after Bezos stepped aside. Although there is massive spending across the industry, Amazon alone is expected to invest $220 billion in 2026. While the now-giant Amazon hasn't kept up with the broader market, it has continued to cement its position as an industry leader. This dynamic is important to keep in mind as you consider Tim Cook's departure from Apple.
#company #NASDAQ
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Jeff Bezos helped turn Amazon into an industry-leading technology company, taking it from an e-commerce disruptor selling books to a diversified technology services company. There's no question that he was an important figure at the company. However, he stepped down as CEO in mid-2021. Since that point, Amazon's stock has been a laggard.
As the chart below highlights, Amazon's roughly 50% price advance is well behind the over 100% gain of the Nasdaq-100 and the roughly 90% rise in the S&P 500 index (SNPINDEX: ^GSPC), as of this writing. To be fair, Bezos was at the helm while the company was still a relatively small business, so growth was much easier to achieve. Today, Amazon is a $2.8 trillion market cap technology giant. It is much harder to grow a large business, as it often requires massive capital investments.
That, of course, is showing up in the artificial intelligence (AI) spending underway today. AI really only started to take off after Bezos stepped aside. Although there is massive spending across the industry, Amazon alone is expected to invest $220 billion in 2026. While the now-giant Amazon hasn't kept up with the broader market, it has continued to cement its position as an industry leader. This dynamic is important to keep in mind as you consider Tim Cook's departure from Apple.
#company #NASDAQ
2 months ago
Sustainable Growth Advisers (SGA), an investment management company, released its second-quarter 2026 investor letter for its "Global Growth Strategy." The letter can be downloaded here. The SGA Global Growth Portfolio returned 7.4% gross and 7.2% net, compared with 14.9% for the MSCI ACWI and 19.8% for the MSCI ACWI Growth Index. Momentum leadership and enthusiasm around AI infrastructure drove markets, with semiconductor, memory, and hardware stocks accounting for much of the gain. Although the portfolio owned AI beneficiaries, broader holdings lagged despite fundamentals, as median revenue and EPS growth reached 12% and 14% and more than 60% of the holdings beat expectations. SGA believes valuation compression reflects sentiment rather than weaker business quality, leaving the portfolio near its widest discount to the market since inception. The firm continues to favor durable compounders and expects 16% revenue growth and 20% earnings growth over three years. Also, please check the Fund's top five holdings to see its best picks for 2026.
In its second-quarter 2026 investor letter, SGA Global Growth Strategy highlighted ServiceNow, Inc. (NYSE:NOW). ServiceNow, Inc. (NYSE:NOW) is a cloud-based software company that provides a platform for automating and managing digital workflows. On August 21, 2026, ServiceNow, Inc. (NYSE:NOW) closed at $128.48 per share. The one-month return of ServiceNow, Inc. (NYSE:NOW) was 21.64%, and its shares lost 27.04% over the past 52 weeks. ServiceNow, Inc. (NYSE:NOW) has a market capitalization of $132.85 billion.
SGA Global Growth Strategy stated the following regarding ServiceNow, Inc. (NYSE:NOW) in its Q2 2026 investor letter:
"As part of our ongoing dialogue with ServiceNow, Inc. (NYSE:NOW), we met with President and Chief Legal Officer Hossein Nowbar and members of the company's legal, compensation and, human resources teams. A significant portion of the discussion focused on the company's recent acquisition activity and the importance of maintaining transparency with shareholders regarding strategic decision-making. Management disagreed with our characterization that its acquisition strategy had become more aggressive, describing the recent transactions as an unusual convergence of several deals rather than a fundamental change in approach. We emphasized that, regardless of management's intent, the lack of timely communication surrounding these transactions contributed to investor uncertainty and undermined shareholder confidence. We encouraged the company to provide clearer and more proactive disclosure around significant strategic decisions to help investors develop a better understanding of the rationale and risks ***** ociated with future acquisitions....." (Click here to read the full text)
#holdings
In its second-quarter 2026 investor letter, SGA Global Growth Strategy highlighted ServiceNow, Inc. (NYSE:NOW). ServiceNow, Inc. (NYSE:NOW) is a cloud-based software company that provides a platform for automating and managing digital workflows. On August 21, 2026, ServiceNow, Inc. (NYSE:NOW) closed at $128.48 per share. The one-month return of ServiceNow, Inc. (NYSE:NOW) was 21.64%, and its shares lost 27.04% over the past 52 weeks. ServiceNow, Inc. (NYSE:NOW) has a market capitalization of $132.85 billion.
SGA Global Growth Strategy stated the following regarding ServiceNow, Inc. (NYSE:NOW) in its Q2 2026 investor letter:
"As part of our ongoing dialogue with ServiceNow, Inc. (NYSE:NOW), we met with President and Chief Legal Officer Hossein Nowbar and members of the company's legal, compensation and, human resources teams. A significant portion of the discussion focused on the company's recent acquisition activity and the importance of maintaining transparency with shareholders regarding strategic decision-making. Management disagreed with our characterization that its acquisition strategy had become more aggressive, describing the recent transactions as an unusual convergence of several deals rather than a fundamental change in approach. We emphasized that, regardless of management's intent, the lack of timely communication surrounding these transactions contributed to investor uncertainty and undermined shareholder confidence. We encouraged the company to provide clearer and more proactive disclosure around significant strategic decisions to help investors develop a better understanding of the rationale and risks ***** ociated with future acquisitions....." (Click here to read the full text)
#holdings
3 months ago
With $1.7 trillion in total ******* ets, the Vanguard S&P 500 ETF (NYSEMKT: VOO) is an extremely popular exchange-traded fund (ETF) within the investment community. It provides instant access to the S&P 500 index. And the expense ratio of 0.03% is very compelling.
Even Warren Buffett recommends this fund as a leading investment choice for most people who want exposure to the stock market. Are you looking to buy this ETF? History says it's crucial to know these three things before investing any money.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
The first thing investors need to know about the Vanguard S&P 500 ETF is that it is extremely concentrated these days. This fund tracks the S&P 500, but this benchmark is heavily skewed toward the world's most valuable businesses. The top 10 stocks in the portfolio make up 38% of the entire ETF. That means the other 490 or so companies fill out the remaining 62%.
Throughout history, there has never been a time when the S&P index was this concentrated. During the dot-com era, the top 10 stocks then represented 27% of the benchmark.
#index
Even Warren Buffett recommends this fund as a leading investment choice for most people who want exposure to the stock market. Are you looking to buy this ETF? History says it's crucial to know these three things before investing any money.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
The first thing investors need to know about the Vanguard S&P 500 ETF is that it is extremely concentrated these days. This fund tracks the S&P 500, but this benchmark is heavily skewed toward the world's most valuable businesses. The top 10 stocks in the portfolio make up 38% of the entire ETF. That means the other 490 or so companies fill out the remaining 62%.
Throughout history, there has never been a time when the S&P index was this concentrated. During the dot-com era, the top 10 stocks then represented 27% of the benchmark.
#index
3 months ago
US stocks rose on Wednesday, snapping a three-day losing streak, after the US Treasury Department said it would increase its buybacks of long-dated government debt, leading yields to pull back sharply.
The Dow Jones Industrial Average (^DJI) and the S&P 500 (^GSPC) both gained 0.2%, while the tech-heavy Nasdaq Composite (^IXIC) also roughly put on 0.2%.
In individual stocks, Moderna (MRNA) shares surged 176% after the company reported positive results from its late-stage trial of a melanoma vaccine developed with Merck (MRK).
Stocks gained momentum after Treasury yields eased from their highest levels in years. Bond prices, which move inversely to yields, rallied after the US Treasury Department said it would increase buybacks of long-dated government debt "by at least double" for securities from the 10-year to 30-year sector.
The 10-year yield (^TNX) fell by 5 basis points to 4.65%, while the 30-year yield (^TYX) declined by 9 basis points to 5.19% after hitting its highest level since 2007 earlier this week.
#stocks #buybacks #long #dated
The Dow Jones Industrial Average (^DJI) and the S&P 500 (^GSPC) both gained 0.2%, while the tech-heavy Nasdaq Composite (^IXIC) also roughly put on 0.2%.
In individual stocks, Moderna (MRNA) shares surged 176% after the company reported positive results from its late-stage trial of a melanoma vaccine developed with Merck (MRK).
Stocks gained momentum after Treasury yields eased from their highest levels in years. Bond prices, which move inversely to yields, rallied after the US Treasury Department said it would increase buybacks of long-dated government debt "by at least double" for securities from the 10-year to 30-year sector.
The 10-year yield (^TNX) fell by 5 basis points to 4.65%, while the 30-year yield (^TYX) declined by 9 basis points to 5.19% after hitting its highest level since 2007 earlier this week.
#stocks #buybacks #long #dated
3 months ago
Cleveland Federal Reserve president Beth Hammack said Monday she anticipates more than one interest rate hike will be required to rein in what she calls broadening inflation.
"I would say in general, one 25 basis point move probably doesn't do a whole lot for the economy," Hammack told Yahoo Finance in an interview. "So it's probably some number of [movements]. But I don't want to prejudge what that number is going to be."
She added, "I don't know exactly where we will end."
Hammack dissented at the Fed's July policy meeting when the Federal Open Market Committee held interest rates steady, preferring to have raised rates by a quarter percentage point.
Read more: How the Fed rate decision affects your bank accounts, loans, credit cards, and investments
#rate #cleveland
"I would say in general, one 25 basis point move probably doesn't do a whole lot for the economy," Hammack told Yahoo Finance in an interview. "So it's probably some number of [movements]. But I don't want to prejudge what that number is going to be."
She added, "I don't know exactly where we will end."
Hammack dissented at the Fed's July policy meeting when the Federal Open Market Committee held interest rates steady, preferring to have raised rates by a quarter percentage point.
Read more: How the Fed rate decision affects your bank accounts, loans, credit cards, and investments
#rate #cleveland
3 months ago
Aug 10 (Reuters) - Tata Consultancy Services has received alerts alleging the possible exposure of certain employee-related data, India's largest IT firm said on Monday, adding that there was no indication that customer data or systems have been impacted.
The information referenced in the alerts appears to be over-four-year old and limited to basic employee information, TCS said in a statement, without offering further details including who has issued the alerts and when.
TCS said it has had safeguards in place for over two years against the manner in which this attack was carried out. Its own operational systems have not been impacted, the IT firm said.
"Based on the current review, these controls remain effective, and the Company continues to monitor the environment closely," it said.
(Reporting by Kashish Tandon and Haripriya Suresh in Bengaluru; Editing by Janane Venkatraman and Mrigank Dhaniwala)
#alerts #data #systems
The information referenced in the alerts appears to be over-four-year old and limited to basic employee information, TCS said in a statement, without offering further details including who has issued the alerts and when.
TCS said it has had safeguards in place for over two years against the manner in which this attack was carried out. Its own operational systems have not been impacted, the IT firm said.
"Based on the current review, these controls remain effective, and the Company continues to monitor the environment closely," it said.
(Reporting by Kashish Tandon and Haripriya Suresh in Bengaluru; Editing by Janane Venkatraman and Mrigank Dhaniwala)
#alerts #data #systems
3 months ago
The Federal Open Market Committee's (FOMC) July meeting was divided. Three members dissented in favor of a rate hike, and Fed Chair Kevin Warsh made some conflicting statements during his post-meeting press conference. The FOMC's September meeting is now considered a toss-up.
According to CME Group's FedWatch tool, there's a nearly 55% likelihood the FOMC raises interest rates by a quarter point and roughly a 45% chance the Fed holds rates steady (as of Aug. 6).
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
This means that employment and inflation data over the next month and a half will be vital. The Fed recently released its August inflation forecast, and it could put the FOMC on a collision course ahead of the September meeting.
The Federal Reserve Bank of Cleveland regularly maintains estimates of various inflation gauges for the upcoming month and, eventually, the month after. These estimates are known as Inflation Nowcasting, a useful resource for investors seeking to monitor inflation.
#NVIDIA
According to CME Group's FedWatch tool, there's a nearly 55% likelihood the FOMC raises interest rates by a quarter point and roughly a 45% chance the Fed holds rates steady (as of Aug. 6).
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
This means that employment and inflation data over the next month and a half will be vital. The Fed recently released its August inflation forecast, and it could put the FOMC on a collision course ahead of the September meeting.
The Federal Reserve Bank of Cleveland regularly maintains estimates of various inflation gauges for the upcoming month and, eventually, the month after. These estimates are known as Inflation Nowcasting, a useful resource for investors seeking to monitor inflation.
#NVIDIA
3 months ago
For the second time this decade, a war has upended global oil markets and sent oil prices and refining margins to multi-year highs, benefitting the world's biggest oil companies and top refiners.
The war in Iran has tightened fuel supply as crude oil has struggled to move through the Strait of Hormuz, triggering reduced refining throughput in Asia and a temporary Chinese ban on exports. The fuel markets tightened even more than the crude market to send refining margins to record highs.
And the biggest refiners benefited from the new refining boom, with Big Oil reporting their highest second-quarter earnings since the previous outbreak of a war, the Russian invasion of Ukraine in 2022. The ******* per earnings were driven not only by the jump in oil prices between April and June—the contribution of the refining and trading divisions was also fundamental for fueling the high profits.
Record Refining Margins
Despite the slump in crude prices and the extreme volatility in the past five months, the refined product market continues to tighten with refining margins at record highs because the supply of petroleum products is much tighter than crude supply.
#margins #prices
The war in Iran has tightened fuel supply as crude oil has struggled to move through the Strait of Hormuz, triggering reduced refining throughput in Asia and a temporary Chinese ban on exports. The fuel markets tightened even more than the crude market to send refining margins to record highs.
And the biggest refiners benefited from the new refining boom, with Big Oil reporting their highest second-quarter earnings since the previous outbreak of a war, the Russian invasion of Ukraine in 2022. The ******* per earnings were driven not only by the jump in oil prices between April and June—the contribution of the refining and trading divisions was also fundamental for fueling the high profits.
Record Refining Margins
Despite the slump in crude prices and the extreme volatility in the past five months, the refined product market continues to tighten with refining margins at record highs because the supply of petroleum products is much tighter than crude supply.
#margins #prices
