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The Turkish lira has surged in the past few days even as political risks in the country soared. The USD/TRY exchange rate initially soared to a record high of 40.97 on Wednesday but ended the week at 37.50. It has soared by almost 9% in the past few days as the Central Bank of the Republic of Turkey (CBRT) intervened.

CBRT interventions lift the Turkish lira

Local and global investors initially dumped the Turkish lira when the Recep Erdogan administration arrested a prominent opposition leader. At its lowest point on Wednesday, the lira had plunged by 18% from its highest level this year. 

This sell-off eased when the CBRT intervened in the forex market by spending almost $12 billion. It spent about $11.5 billion on Wednesday, four times bigger than the previous forex intervention in the country. The interventions continued on Thursday and Friday.

On top of this, the CBRT monetary policy committee held an emergency meeting and hiked interest rates for the first time in months. This rate hike was a major reversal since the bank has delivered several rate cuts in the past few months.

The bank hopes that the rate hikes will help draw more Turkish investors to the lira instead of rotating to foreign currencies. It is working as hedge funds have boosted the USD and TRY carry trade has jumped to $35 billion. A carry trade is a situation where investors borrow a lower-yielding currency and invest in a higher-yielding one. 

Read more: USD/TRY forecast: ING experts see Turkish lira falling to 43

CBRT independence

The USD/TRY has been in a constant uptrend in decades as Erdogan has moved to strip the central bank its independence. Unlike in other countries where the president cannot fire a governor at will, Erdogan can hire and fire governors at will. He has done that several times in the past few years.

Erdogan’s policies have made the Turkish lira one of the worst-performing currencies globally as it moved from 3 to 37 against the US dollar. In real times, which includes interest rates, it has been one of the top performers recently as its crash decelerated.

The plunging lira has contributed to a surge in inflation over the years, although this trend has reversed lately. The most recent data showed that the Turkish consumer price index dropped to 39% in February from a high of 76 last year.

USD/TRY technical analysis

USDTRY chart by TradingView

The weekly chart shows that the USDTRY exchange rate has been in a strong uptrend for a long time. It rose to a high of 40.97 for the first time on record this year in line with our previous USDTRY forecast. It remains above all moving averages, a sign that bulls are in control for now. 

However, the weekly chart shows that it has formed a shooting star candlestick pattern, a popular reversal sign. Therefore, there is a likelihood that it will drop for a while as the market reflects on the recent actions by the Turkish central bank. Such a move may see it drop to the key psychological point at 35.

The post USD/TRY: The $12 billion reason why the Turkish lira is surging appeared first on Invezz

A year into his tenure as Wendy’s (WEN) CEO, Kirk Tanner is looking beyond the iconic square burger to inject new energy into the 55-year-old restaurant chain.

In an increasingly competitive fast-food landscape, Tanner is betting on a multi-pronged strategy that combines enticing menu additions with cutting-edge technology to reinvigorate growth and attract investors.

Tanner’s vision includes a new burger featuring what he promises is “thick-cut” bacon, drive-throughs powered by AI, Frosty drinks with chocolate and vanilla swirls, as well as soon-to-be announced breakfast and chicken sandwich innovations.

“It’s huge,” Tanner told Yahoo Finance’s Opening Bid podcast when asked about the bacon.

I’ve eaten like six of these. I mean, it is substantial.

He added the company can always innovate and always move the bar higher.

Scheduled to roll out soon are: new chicken sandwiches (middle of this year), new thick-cut bacon burger (later in 2025), and new breakfast beverages (later in 2025).

One of the most ambitious elements of Tanner’s plan is the implementation of AI-powered drive-throughs.

Wendy’s aims to have 500 AI-powered drive-throughs by the end of 2025, a significant increase from the 100 currently in operation.

This technology promises to streamline the ordering process, improve accuracy, and enhance the overall customer experience.

Tanner also recognizes the importance of expanding Wendy’s physical presence.

The company plans to increase its total restaurant count from 7,200 currently to up to 8,300 by the end of 2028. It’s a key reason he took the job.

Tanner stated:

This is why I joined Wendy’s, for the potential for unit growth. That is the biggest unlock for the value. It’s directly correlated to the value of our stock. And the potential for us to build restaurants is tremendous.

Wendy’s shares have dropped 17% in the past year, underperforming rival McDonald’s, Yum! Brands, Restaurant Brands and Chipotle.

Wendy’s market cap stands at a mere $3 billion, compared to McDonald’s at $219 billion, Yum! Brands at $44 billion, Restaurant Brands at $30.8 billion, and Chipotle’s $66 billion.

Despite these challenges, Wendy’s has shown signs of progress. Its US same-store sales last year rose 1.4%, and Wendy’s same-store sales internationally rose 2.8%.

But, “While we view the company’s menu innovation efforts constructively, the categories of focus (chicken, frozen desserts, and beverages) will be fiercely contested grounds in the quick-service restaurant category with multiple brands expanding offerings, so the pace of innovation may prove to be table stakes for defending, rather than meaningfully growing, share in fiscal year 2025,” Stifel analyst Chris O’Cull said. O’Cull rates Wendy’s stock at a Hold with a $16 price target.

Despite lingering concerns on the Street if Wendy’s should still be in the competitive breakfast business, Tanner is fully committed to growing it from here.

Even with the state of pricey eggs, Tanner says Wendy’s can make a profitable egg sandwich. “[Breakfast is] still a profitable business,” added Tanner.

The post Can Wendy’s catch up? CEO Tanner dishes on strategy to outperform rivals in 2025 appeared first on Invezz

After an initial wave of optimism following the Federal Reserve’s indication of potential rate cuts in 2025, Wall Street’s attention has quickly shifted back to the persistent headwinds that have been troubling the market: the looming threat of tariffs and the potential risks associated with the booming, but perhaps overhyped, artificial intelligence sector.

The short-lived rally quickly fizzled, reflecting a sense among market strategists that the fundamental challenges facing investors remain firmly in place.

Dennis Debusschere, president of 22V Research, succinctly captured the mood, stating that now that markets are through the Fed meeting, the focus will shift back to President Trump’s tariffs and the possibility of reciprocal duties.

How these potential policy shifts might impact corporate profits this year is, according to Debusschere, “absolutely what the market’s been struggling with.”

This struggle was evident as both Nike (NKE) and FedEx (FDX) stocks took a hit after the companies warned that economic headwinds, including potential tariffs, could negatively impact their earnings.

The concerns surrounding tariffs are multi-layered.

Investors are grappling with uncertainty about which companies will be directly affected, the potential for retaliatory counter-tariffs, and the broader implications of price increases for consumers.

The market’s tariff concerns have many layers.

There’s the question of which companies will be impacted by tariffs.

There’s the question of which companies could be impacted by counter-tariffs.

And then there are further questions on how any potential price increases in some industries could also raise prices for other products.

The overall fear is that these factors could dampen consumer spending and slow down overall economic activity.

The jerky market action proves that investors are struggling to know how to react.

Piper Sandler chief investment strategist Michael Kantrowitz told Yahoo Finance that clarity is needed.

Until we get to April 2, we’re kind of sitting and waiting for some direction and for some clarity.

Kantrowitz said that policy uncertainty was the leading factor in the recent market sell-off, which in turn clouded the outlook for the Federal Reserve and corporate earnings.

AI: boom or bubble?

The recent market turbulence wasn’t solely attributable to tariff anxieties.

A significant factor has been the correction in the “Magnificent Seven” tech stocks, which have had their worst quarter compared to the S&P 500 since 2022.

As such, the most popular trade of the last couple of years has had its rating dropped.

Morningstar’s chief US market strategist David Sekera has gone so far as to describe the recent market action as a “bear market in artificial intelligence stocks.”

Given the outsized influence of large-cap tech companies on the S&P 500, some strategists worry that further declines in these stocks could trigger a broader market downturn.

“A key reason we have been forecasting a slump in the S&P 500 in 2026 is an assumption that fading enthusiasm for AI would prompt a valuation-driven slide in the index then rather than in 2025,” wrote Capital Economics chief markets economist John Higgins.

Accordingly, it is possible the bursting of the AI bubble is just happening sooner than we had envisaged.

The Federal Reserve’s pronouncements provided a brief respite, but the underlying concerns about tariffs and the sustainability of the AI boom continue to cast a shadow over Wall Street, leaving investors bracing for further volatility as the market seeks direction.

The post From Powell to policy: Wall Street grapples with Tariffs, tech risks after Fed’s signals appeared first on Invezz

This morning, I was meant to be on my way to Heathrow Airport, bags packed and boarding pass ready for a 9:30 AM British Airways flight to Mumbai.

I’d just opened the Bolt app to book my ride when a news alert stopped me cold: Heathrow, Europe’s busiest airport, was shut down due to a massive power outage caused by a fire at a nearby substation.

My travel plans—weeks in the making—evaporated, leaving me relieved I hadn’t left yet but stunned by the chaos I’d narrowly dodged.

As I followed the unfolding crisis, the numbers painted a grim picture.

Heathrow, a global hub handling over 1,300 flights daily, was paralyzed.

By day’s end, officials confirmed 1,351 flights were canceled or diverted, affecting up to 291,000 passengers, per aviation analytics firm Cirium.

For those trapped in the turmoil—and those like me, spared by timing—this wasn’t just a disruption; it was a glaring sign of an airport stretched to its limits, reigniting debates over its capacity and resilience.

A cautious restart looms

After hours of uncertainty, Heathrow Airport issued a release offering hope.

“Our teams have worked tirelessly since the incident to ensure a speedy recovery,” a spokesperson said.

We’re pleased to say we’re now safely able to begin some flights later today. Our first flights will be repatriation flights and relocating aircraft.

They added, “They told travelers not to go to the airport unless advised to do so by their airline, adding:

We will now work with the airlines on repatriating the passengers who were diverted to other airports in Europe. We hope to run a full operation tomorrow and will provide further information shortly.

They noted, “Heathrow uses as much energy as a small city, so getting back to a full and safe operation took time.”

The warning was academic for me—I hadn’t left my doorstep—but it highlighted the crisis’s depth.

Limited operations resume tonight with repatriation flights and aircraft repositioning, aiming for a full schedule tomorrow.

Yet, with disruptions expected to linger, recovery feels fragile.

A fire sparks a shutdown

The trouble started late Thursday when a blaze broke out at the North Hyde substation in Hayes, three miles from Heathrow.

The fire, fueled by a transformer holding 25,000 liters of cooling oil, raged into Friday, cutting power to the airport.

The London Fire Brigade sent 10 fire engines and 70 firefighters, with Deputy Commissioner Jonathan Smith calling it “challenging and very hazardous.”

By midday, the fire was 90% out, but its impact was total.

The outage hit 67,000 West London households, with 5,000 still powerless by late Friday.

At Heathrow, backup generators faltered, unable to sustain a facility with city-scale energy needs. Flights stopped, terminals dimmed, and chaos took hold.

Passengers bear the brunt

Though I stayed home, others weren’t so lucky. Taylor Collier-Brown, stranded in Geneva with her hockey team, told NBC News,

“Eleven hockey girls with a match tomorrow can’t make it back—the whole team is in Geneva.”

British Airways CEO Sean Doyle called it “unprecedented,” warning of a “huge impact” over the weekend.

We were due to operate more than 670 flights carrying around 107,000 customers today.

With crew rest rules and scattered planes, tonight’s eight long-haul flights after 7 PM help few—including me, still grounded.

Experts and politicos weigh in

The shutdown has experts sounding alarms.

Aviation consultant John Strickland said, “This is a massive dislocation—like a contained version of 9/11. Recovery is a logistical nightmare.”

Dr. Alan Mendoza of the Henry Jackson Society told The Times,

The UK’s critical infrastructure isn’t hardened enough. This could repeat without upgrades.

Ruth Cadbury, Commons Transport Committee chair, added on BBC News, “This raises serious resilience questions.”

The outage also reignites the debate over Heathrow’s third runway, stalled for years over environmental and political hurdles.

The unfolding situation at Heathrow Airport, one of the world’s busiest travel hubs, has taken a dramatic turn with the involvement of the Metropolitan Police’s Counter-Terrorism Command.

What began as a power outage at a critical electrical substation in West London has morphed into something far more complex, injecting a layer of intrigue that has gripped public attention.

The police have been careful in their wording, stating, “There’s no direct evidence of sabotage,” yet their decision to investigate the possibility underscores the gravity of the incident.

This isn’t a routine power cut; it’s an event with potential implications for national security, given its cascading effects on what authorities describe as “critical national infrastructure.”

The substation in question, located in an exposed area of Hayes, has become the focal point of speculation.

Its vulnerability has drawn unsettling comparisons to a series of sabotage attacks on France’s rail network ahead of the 2024 Paris Olympics.

In that case, coordinated acts disrupted high-speed train lines, revealing how seemingly mundane infrastructure can become a target in modern asymmetric threats.

Here, too, the substation’s accessibility raises questions about whether this was a deliberate act masked as an accident or a genuine failure exacerbated by poor planning.

The Counter-Terrorism Command’s insistence on keeping an “open mind” reflects a cautious approach, but it also fuels uncertainty.

Are we dealing with a freak technical fault, or is this the opening salvo in a broader scheme? The ambiguity stokes tension, leaving the public—and officials—on edge as they await clarity.

This isn’t just about Heathrow; it’s about the fragility of interconnected systems that underpin modern life.

Airports, power grids, and transport networks are the arteries of a nation, and any disruption sends shockwaves far beyond the initial point of failure.

The police’s involvement elevates the stakes, suggesting that even if sabotage isn’t confirmed, the mere possibility demands a reassessment of how we protect these vital assets.

For now, the investigation unfolds behind closed doors, but its shadow looms large over the chaos playing out in plain sight.

Global and local fallout mounts

The ripple effects of the substation failure have been swift and far-reaching, touching lives and economies across continents.

With Heathrow’s runways darkened, 120 airborne flights were forced to divert to alternate airports—Gatwick, Manchester, Paris, and beyond.

Major airlines scrambled to adapt.

Qantas, for instance, rerouted its Singapore and Perth flights to Paris, arranging bus transfers for passengers to reach London—a logistical nightmare that underscores the scale of the disruption.

Cathay Pacific opted to cancel its Hong Kong services outright, while United Airlines turned seven flights back mid-journey, stranding passengers and crews alike.

Each decision reflects the domino effect of a single point of failure, amplifying the incident from a local outage to a global headache.

Closer to home, the impact in Hayes was visceral.

Resident Shakty described a “massive explosion” to The Independent, a sound that shattered the morning calm and heralded the evacuation of 150 people.

Schools closed, streets emptied, and a community found itself at the epicenter of a crisis it didn’t ask for.

The power outage initially left 16,300 homes in the dark, a number that dwindled to 5,000 by afternoon as engineers worked to restore supply. Yet the damage was done—both literally and figuratively.

Sky News estimates financial losses could climb to £20-30 million, a figure that captures everything from grounded planes to lost business. IAG, British Airways’ parent company, saw its stock dip, a tangible sign of investor unease.

Travel expert Simon Calder, speaking to BBC News, painted a grim picture: disruptions could linger “into next week,” tarnishing the UK’s reputation as a reliable global hub.

The human cost is harder to quantify but no less real. Passengers faced hours of uncertainty, their plans—business trips, holidays, reunions—upended by forces beyond their control.

In Hayes, families endured cold homes and disrupted routines, a stark reminder that infrastructure failures don’t discriminate.

The convergence of global and local fallout reveals a system stretched to its breaking point, where one incident can unravel months of planning and leave a trail of chaos in its wake.

Are we prepared?

The power failure at Heathrow Airport has cast a harsh spotlight on the fragility of critical infrastructure underpinning one of the world’s busiest aviation hubs.

Beyond the immediate chaos—120 diverted flights, 291,000 stranded passengers, and estimated losses of £20-30 million—the incident has exposed systemic vulnerabilities that resonate far beyond the UK.

Heathrow, handling 83.9 million passengers annually (based on 2023 figures from the Civil Aviation Authority, with growth projected into 2025), operates at near-capacity with just two runways and a sprawling network of supporting infrastructure.

The substation failure revealed how a single disruption can cripple this ecosystem.

Powerless terminals grounded flights, halted baggage systems, and left air traffic control scrambling.

Simon Calder, a travel expert speaking to BBC News, warned that disruptions could persist “into next week,” highlighting a lack of redundancy.

Unlike a storm or strike—events airports routinely plan for—this outage was a stark reminder that resilience isn’t just about weatherproofing; it’s about safeguarding the unseen arteries of power and connectivity.

Data underscores this vulnerability. The UK’s National Grid reports that 80% of its substations are over 25 years old, with many, like the one in Hayes, built in an era when demand was lower and security less scrutinized.

Paul Watters, an infrastructure analyst at the University of Surrey, told The Guardian,

“We’ve underinvested in modernizing these systems. A substation failure shouldn’t bring a global hub to its knees.”

Heathrow’s own “small city” analogy—housing 76,000 workers and 1,300 flights daily—falls flat when its energy backbone proves so brittle.

The incident raises a broader question: if a key node fails, where’s the backup?

Lessons from other airports

Contrast Heathrow’s predicament with other major airports and the gaps in preparedness become clearer.

Singapore’s Changi Airport, which served 58.9 million passengers in 2023 (per Changi Airport Group), operates with a triple-redundancy power system.

When a 2017 cable fault threatened operations, backup generators and a secondary grid kicked in within minutes, limiting delays to under an hour.

Changi’s design reflects a proactive stance—its $1.7 billion Terminal 5 expansion, due by 2030, includes microgrids to further insulate against outages.

Dr. Lim Wei Shen, a Singaporean aviation consultant, noted in a 2024 Straits Times interview, “Resilience isn’t an afterthought here; it’s engineered into the system.”

Atlanta’s Hartsfield-Jackson, the world’s busiest airport with 104.6 million passengers in 2023 (per Airports Council International), faced a similar test in December 2017.

A fire at an underground power facility blacked out the airport for 11 hours, canceling 1,200 flights.

The fallout—$50 million in losses and a scathing Federal Aviation Administration report—prompted a $300 million overhaul.

Today, dual power feeds and on-site generators ensure no single failure can repeat the chaos.

John Selden, Hartsfield-Jackson’s general manager, told CNN in 2023, “We learned the hard way: you don’t skimp on redundancy.”

Meanwhile, Dubai International (DXB), with 86.9 million passengers in 2023, integrates solar power and advanced battery storage, reducing reliance on external grids.

A 2022 trial saw DXB weather a regional blackout with zero flight disruptions.

These examples highlight a proactive ethos absent at Heathrow, where capacity debates—like the stalled third runway—often overshadow infrastructure hardening.

Cascading consequences and economic fallout

The Heathrow outage didn’t just strand travelers; it reverberated globally.

Qantas diverted flights from Singapore and Perth to Paris, United Airlines turned back seven planes, and Cathay Pacific canceled Hong Kong routes.

Sky News pegged losses at £20-30 million, but the ripple effects—stock dips for IAG (down 2.1% per Bloomberg) and disrupted supply chains—could push the toll higher.

The UK’s Department for Transport notes aviation contributes £22 billion annually to GDP; a prolonged hit risks denting that figure and the nation’s image as a reliable hub.

Locally, 16,300 powerless homes in Hayes dropped to 5,000 by afternoon, but the initial evacuations and school closures disrupted thousands.

Shakty, a resident quoted by The Independent, described a “massive explosion,” hinting at the outage’s violent onset.

Dr. Emily Carter, an energy policy expert at UCL, told BBC Radio 4, “This isn’t just about Heathrow—it’s a wake-up call for how interconnected our systems are. One failure and the dominoes fall.”

Security and sabotage concerns

The Metropolitan Police’s Counter-Terrorism Command stepping in adds a chilling dimension.

While “no direct evidence of sabotage” exists, the substation’s exposed location—echoing French rail attacks before the 2024 Olympics—raises red flags.

The UK’s Centre for the Protection of National Infrastructure warns that 30% of critical sites lack adequate physical security.

If deliberate, this could signal a new frontier in asymmetric threats. Even if accidental, it exposes a soft underbelly.

Heathrow’s partial restart offers relief, but the cracks remain.

Globally, airports like Changi and Hartsfield-Jackson show resilience is achievable with investment—Changi’s $50 million annual infrastructure budget dwarfs Heathrow’s stretched resources.

UK Energy Secretary Ed Miliband called the outage “unprecedented” on BBC Radio 4, hinting at a review, but concrete action lags.

For 291,000 passengers and a rattled nation, this isn’t a one-off—it’s a warning.

Ageing grids, limited backups, and security gaps require more than hope—they demand a strategic overhaul before the next failure becomes even costlier.

The post Heathrow’s fragile wings: a small fire exposes major flaws appeared first on Invezz

In a major defense contract shake-up, President Donald Trump awarded Boeing a $20 billion contract on Friday to develop a next-generation sixth-generation fighter jet under the Next Generation Air Dominance (NGAD) program.

The highly anticipated deal, confirmed by Bloomberg and Reuters, is expected to shape the future of US air combat technology, replacing Lockheed Martin’s F-22 Raptor.

Following the announcement, Boeing (BA) stock surged, while Lockheed Martin (LMT) shares plunged, reflecting investor reaction to the defense industry shake-up.

Boeing secures historic sixth-generation fighter contract

President Trump announced the contract during an Oval Office meeting with Defense Secretary Pete Hegseth, emphasizing that the F-47, as the new fighter jet will be called, will set a new benchmark in air combat superiority.

The contract comes as a major win for Boeing, which is positioned to secure potentially hundreds of billions in future orders over the multi-decade lifetime of the project.

The deal is part of the US Air Force’s NGAD program, designed to phase out Lockheed Martin’s existing F-22 Raptor fleet.

What makes sixth-generation fighter jets different?

Unlike fifth-generation fighters like the F-22 and F-35, which emphasize stealth, sensor fusion, and advanced maneuverability, sixth-generation aircraft promise revolutionary upgrades, including:

  • Next-level stealth technology for enhanced survivability
  • AI-powered avionics for improved situational awareness
  • Laser weapons capable of neutralizing airborne threats
  • Unmanned teaming capabilities, allowing the fighter to control drone swarms
  • Advanced networking to seamlessly integrate with air, sea, and land-based military assets

While full specifications remain classified, defense analysts believe the F-47 will incorporate state-of-the-art computing power and hypersonic capabilities, making it the most advanced fighter jet in the world.

The U.S. military plans to spend over $28 billion on the NGAD program and Collaborative Combat Aircraft (CCA) development through 2029, according to the Air Force Budget Justification Report from March 2024.

Lockheed Martin loses out, stock tumbles

The decision to award the contract to Boeing instead of Lockheed Martin, the traditional leader in US fighter jet development, sent LMT stock tumbling more than 5% on Friday.

Before the announcement, Lockheed shares were up about 2%, but the decline erased those gains, dragging LMT stock below its 50-day moving average in heavy trading.

Lockheed Martin shares are now down nearly 29% from their October 2023 record high of $618.95, reflecting investor concerns over the loss of a long-term multi-billion-dollar military contract.

Boeing stock surges on defense contract win

Meanwhile, Boeing (BA) stock jumped more than 4% on Friday, extending its weekly gains to over 11%, marking its best performance since July 2023.

Adding to the momentum, Boeing announced on Wednesday that it is on track to meet Q1 earnings estimates and expects to deliver approximately 44 aircraft this month, reinforcing investor confidence in its commercial and defense divisions.

With the NGAD program set to define the next era of U.S. air combat, Boeing’s F-47 development will be closely watched by military analysts and investors.

Meanwhile, Lockheed Martin is expected to push for additional defense contracts to offset the loss of its fighter jet dominance.

As defense spending ramps up, both companies remain key players in the global arms industry, but Boeing’s latest victory signals a major shift in military aviation leadership.

The post What is NGAD? Trump awards Boeing $20 billion fighter jet contract, Lockheed Martin stock slides appeared first on Invezz

Wall Street closed mixed on Friday, with the S&P 500 managing to break a four-week losing streak despite persistent concerns over tariffs, economic uncertainty, and tech sector weakness.

The market remained volatile throughout the session as investors digested President Donald Trump’s latest remarks on reciprocal tariffs and awaited the Federal Reserve’s next moves.

The S&P 500 edged up 0.08% to close at 5,667.56, posting a 0.5% weekly gain—its first in over a month.

The Nasdaq Composite rose 0.52% to 17,784.05, while the Dow Jones Industrial Average added 32.03 points or 0.08%, finishing at 41,985.35.

Market participants navigated a choppy session, driven by the quarterly “quadruple witching” event, where stock options, index options, futures, and single-stock futures contracts expired.

Goldman Sachs estimated that over $4.7 trillion worth of options exposure was set to expire, adding to the session’s volatility.

Tariff uncertainty looms over Wall Street

Stocks attempted a recovery late in the session after President Donald Trump signaled some “flexibility” on tariffs but reiterated that all trading partners imposing duties on US goods would face reciprocal tariffs starting April 2.

Michael Green, chief strategist at Simplify Asset Management, noted that business uncertainty stemming from trade policy has started affecting capital spending and hiring decisions, which in turn is weighing on investor sentiment.

“There’s growing hesitation among companies to make big financial commitments,” Green said. “Markets are reflecting that uncertainty, particularly as we head toward the April 2 deadline.”

Tech stocks continue to slump

The technology sector was the worst-performing segment of the S&P 500 this week, down 0.8%, marking its fifth consecutive weekly decline—a streak not seen since May 2022.

Semiconductor stocks, which had been market leaders in 2023, saw significant losses:

  • Nvidia (NVDA) fell as chip demand cooled.
  • Micron (MU) and Applied Materials (AMAT) declined amid supply chain concerns.
  • Accenture (ACN) also saw selling pressure, pulling the sector lower.

Concerns over slowing consumer spending and industrial activity were reinforced by weak earnings updates from key bellwethers.

  • FedEx (FDX) tumbled 6.5% after cutting its earnings outlook, citing weakness in the US industrial economy.
  • Nike (NKE) dropped over 5% after warning that consumer confidence and tariff-related costs could weigh on sales.

Stocks hitting 52-week lows signal economic stress

A number of consumer and transportation stocks touched 52-week lows on Friday, reflecting concerns over economic momentum.

  • Nike (NKE): Lowest level since March 2020
  • Target (TGT): Lowest level since April 2020
  • Host Hotels (HST): Lowest level since February 2021
  • Ross Stores (ROST): Lowest level since November 2023

In the transportation sector, the downturn was equally sharp:

  • FedEx (FDX) hit levels last seen in June 2023
  • JB Hunt (JBHT) fell to February 2021 levels
  • Old Dominion Freight Line (ODFL) also slid to a yearly low

Will tariff anxiety cap stock gains?

Analysts at Barclays caution that until there is clarity on tariffs, the market’s upside may remain capped.

“Stocks have rebounded slightly from oversold levels, but tariff uncertainty remains a major overhang,” said Emmanuel Cau, head of European equity strategy at Barclays.

With the April 2 tariff deadline approaching, investors are closely watching for any policy shifts that could determine the market’s next direction.

Meanwhile, the Federal Reserve’s stance on interest rates and corporate earnings results will continue to play a critical role in shaping sentiment.

The post Wall Street ends losing streak as S&P 500 edges higher; tariff uncertainty lingers appeared first on Invezz

Investors should load up on Carvana Co (NYSE: CVNA) following a more than 35% decline in its stock price since mid-February, says Alexander Potter – a Piper Sandler analyst.

Carvana shares have been hit hard in recent weeks amidst the broader market sell-off due to continued uncertainty coming out of the White House.

But all this weakness has done is created an opportunity for long term investors to buy a quality name at a deep discount, wrote Potter in a report on Thursday.

The Piper Sandler analyst upgraded CVNA shares this morning to “overweight”. His $225 price target indicates potential upside of close to 30% from current levels.

Carvana stock is insulated from Trump tariffs

Note that Potter’s take on Carvana shares is now different from the rest of the Wall Street. The consensus rating on the online used car retailer currently sits at “hold” only.

Alexander Potter upgraded Carvana stock this morning primarily because he sees it as the one stock that’s most insulated from Trump tariffs among all that he currently covers.

The Piper Sandler analyst agreed that macro uncertainty could lead to a hit to used car sales in the coming months, but remains convinced Carvana stock will still be able to resume its upward trajectory.

That’s because CVNA stock is uniquely positioned for growth after having “flirted” with bankruptcy once, he added in his research note.

CVNA has massive room for growth

Alexander Potter is convinced that Carvana will eventually be selling more than 3 million units annually. That suggests a remarkable increase from less than half-a-million in 2024.

Potter is bullish on CVNA shares also because the company currently owns only 1.0% used car sales market, which indicates massive further room for growth.  

Plus, the company’s EBITDA margin sits in the low teens at writing, signalling strong profitability trajectory as well. According to Piper Sandler, Carvana may one day account for more than 10% of used car sales in the United States.

What’s also worth mentioning is that the firm’s $225 price target is still significantly below the high of about $285 that Carvana stock printed in mid-February.

Should you buy Carvana stock today?

Other reasons the Piper Sandler analyst cited for his bullish view on Carvana stock include the strength of its financials.

CVNA earned 56 cents a share in its latest reported quarter on $3.55 billion in revenue. Analysts, in comparison, were at 29 cents and $3.31 billion only. Ernie Garcia – the company’s chief executive told investors at the time:

We know this is just the beginning of our journey to change the way people buy and sell cars.

In February, Garcia also said that the news year (2025) was going to be another strong year for Carvana.

The post Carvana stock crashes 35%: is CVNA running out of steam? appeared first on Invezz

The Trump administration is reportedly considering extending Chevron’s license to operate in Venezuela, marking a potential shift in US foreign policy toward the country’s oil industry.

This comes amid rising tensions between Washington and Venezuelan President Nicolás Maduro.

The administration had previously ordered Chevron to wind down operations in Venezuela by April 3, but discussions suggest a possible reversal.

Since 2022, Chevron has shipped about 200,000 barrels per day of Venezuelan crude—accounting for a quarter of the country’s output, according to Reuters.

Policy shift under discussion

At a meeting on Wednesday with energy executives, including Chevron CEO Mike Wirth, President Trump signaled openness to revisiting the decision.

Unnamed officials told the Wall Street Journal that the administration is weighing options to allow Chevron to continue operations.

This potential policy shift carries major geopolitical implications, particularly given US-Venezuela tensions.

Beyond Chevron, the US is also considering imposing tariffs or financial penalties on countries importing Venezuelan oil.

According to WSJ, these measures aim to curb China and other nations from expanding influence in Venezuela while strengthening Chevron’s position and securing oil for the US.

Commerce Secretary Howard Lutnick suggested that such tariffs could also serve as leverage to push Maduro back to the negotiating table.

Chevron response: Chevron engages with governments

Chevron, for its part, has previously talked to the media about its conversations with the US government, but without elaborating on recent conversations.

Chevron did not immediately respond to the report, but a representative told Reuters that executives meet often with government officials in Washington to discuss international business challenges, both in the US and abroad.

“Chevron executives meet regularly with government officials in Washington to engage constructively on issues related to our business—both in the U.S. and abroad”, said the source.

The corporation aimed to align with US interests while navigating Venezuelan politics.

Chevron’s operations in Venezuela: what’s at stake?

Extending Chevron’s operations in Venezuela has enormous economic ramifications for the firm, as well as the US oil market and overall energy costs.

With Venezuela owning some of the world’s largest proven oil reserves, keeping a US presence can help secure a consistent flow of oil to American markets while protecting local prices from erratic increases caused by external factors.

Furthermore, as the global economy grapples with fluctuating energy demands, Chevron’s efforts may provide stability for both US customers and the larger market.

According to Reuters, analysts believe that Chevron’s continuous output could reduce the likelihood of price increases, which have been associated with geopolitical instability in oil-producing nations.

The Trump administration’s decision on Chevron’s license in Venezuela could have a huge impact not just on US-Venezuela ties, but also on the global oil market.

The interaction between extending operational licenses, implementing tariffs, and diplomatic diplomacy creates a complicated picture of US strategy in an era of extraordinary energy transformation and geopolitical tensions.

It is unclear whether these steps will result in the anticipated outcomes, such as Maduro returning to the bargaining table or oil prices stabilizing.

However, the importance of retaining an American presence in Venezuelan oil production cannot be overstated, since it is both a geopolitical strategy and an economic need.

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Nike Inc (NYSE: NKE) is still grappling with a sales decline – but its latest earnings release signals the turnaround strategy of its new CEO Elliott Hill is starting to show some early signs of working out.

While the athletic footwear retailer reported better-than-expected revenue for its third quarter after-hours, the number still represented a 9.0% decline on a year-over-year basis, attributed primarily to continued material weakness in China.

Still, Nike shares are inching up in extended hours as the company’s earnings, at 54 cents a share, printed well above 29 cents a share in Q3.

Could Nike regain its dominance?

Nike Inc. has acknowledged its issues and has already transitioned into the action phase under the leadership of its new chief executive, according to Matt Powers of Powers Advisory Group.

Investors are not too bummed about the company’s earnings since Hill had already broadcast it to investors that Nike is a big ship and so, it’ll take some time to turn it around.  

Despite areas of weakness in Q3, Powers remains bullish on Nike stock as a long-term investment because “inflation will eventually stabilize, Nike will adapt, and we expect it to regain some dominance.”

Powers recommends owning NKE shares also because they pay a healthy dividend yield of 2.23% at writing.

Is Nike stock relatively expensive?

Investors should note, however, that Nike stock is not inexpensive to own at current levels.

Its forward price-to-earnings multiple currently sits at about 40, which is roughly the same as On Holding.

However, the latter is currently in a heavy growth mode.

Compared to the likes of Deckers or Under Armour, NKE shares are super expensive considering both of them are going for about 20 times forward at the time of writing.

That said, analysts are reluctant to turn their backs on Nike Inc.

The consensus rating on the iconic name currently sits at “overweight” with a mean price target of over $84 representing about a 13% upside from here.

What Nike expects for the future

On Thursday, the New York-listed firm refrained from updating its guidance for 2025.  

Its management did, however, confirm that the outlook for the back half of this year remains the same as communicated in December.

According to Matt Friend, the company’s chief of finance:

The operating environment is dynamic, but what matters most for Nike is serving athletes with news product innovation and re-igniting brand momentum through sport.

Earlier this week, BMO senior analyst Simeon Siegel also said Nike was fixing its problems with new products and great storytelling.

Nonetheless, it’s worth mentioning here that Nike stock is currently down more than 25% versus its 52-week high of just over $100.

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Heathrow Airport has been forced to shut down for the entire day on Friday due to a large fire at an electrical substation that supplies power to the UK’s busiest airport.

The fire has caused a significant power outage, severely impacting operations.

In a statement, Heathrow confirmed it will remain closed until 23:59 on March 21 for safety reasons.

“To maintain the safety of our passengers and colleagues, Heathrow will be closed,” the airport said, adding that authorities do not yet have a clear timeline for restoring power.

Passengers have been urged not to travel to the airport under any circumstances until operations resume.

Heathrow handles approximately 1,300 flights per day, making the closure a major disruption to air travel in the UK and beyond. Last year, 83.9 million passengers passed through its terminals.

The abrupt closure of Europe’s busiest airport caused major disruptions, impacting over 100 flights that were forced to divert or return to their departure points, according to flight-tracking site Flightradar24.

Aviation data firm Cirium estimates that approximately 145,000 passengers could be affected by the shutdown, adding to the logistical challenges for airlines and travelers alike.

The fire shutting down Heathrow

The outage was triggered by a fire at an electrical substation in Hayes, west London, which has also left thousands of homes without power.

The London Fire Brigade (LFB) deployed ten fire engines and around 70 firefighters to tackle the blaze.

The fire, which broke out late on Thursday night at 23:23, has forced the evacuation of around 150 residents from nearby properties.

A 200-metre safety cordon has been set up, and locals have been advised to keep windows and doors closed due to heavy smoke.

More than 16,300 homes across Hayes, Hounslow, and surrounding areas have lost electricity, according to Scottish and Southern Electricity Networks (SSEN).

The company acknowledged the large-scale outage in a statement on X (formerly Twitter) and said it was working to restore power as quickly as possible.

The LFB reported receiving nearly 200 calls about the fire, describing it as a “highly visible and significant incident.”

Authorities have yet to determine the cause of the fire, and emergency services continue to work to contain the situation.

Passengers affected by the Heathrow closure are advised to contact their airlines for further updates.

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