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Nucor Guides Q2 2026 Adjusted EPS to $4.50-$4.60, Topping $4.27 Consensus — Reshoring Fuels Steel Profit Surge

Nucor guided second-quarter 2026 adjusted earnings per share to a range of $4.50 to $4.60, topping the Wall Street consensus of $4.27 by as much as 8%. The steelmaker pointed to higher realized selling prices across its steel mills segment and durable demand tied to domestic reshoring, data center construction, and infrastructure spending. Continued enforcement of anti-dumping and Section 232 tariffs has pushed imports' share of the U.S. finished steel market down to roughly 15% from over 22% a year earlier.

February Durable Goods Orders Miss at -1.8% — Manufacturing Contraction Deepens Recession Watch

Orders for durable manufactured goods fell 1.8 percent in February 2026, worse than the expected 0.5 percent decline, while the critical non-defense capital goods ex-aircraft reading dropped 1.1 percent. The miss adds to a growing body of deteriorating economic data and pushed JPMorgan's U.S. recession probability estimate to 40 percent for 2026.

Gold Trades Near $4,571 as Stagflation Fears and Iran War Escalation Drive Safe-Haven Surge; J.P. Morgan Targets $5,055 by Year-End

Gold is trading near $4,571 per ounce on Thursday, having rallied sharply from under $3,000 earlier in 2025, as the Iran war, a hawkish Federal Reserve, and rising stagflation fears combine to make bullion one of the most compelling safe-haven assets in the current environment. J.P. Morgan Global Research is targeting $5,055 per ounce by year-end 2026, while some models project a path toward $6,500 if the energy crisis deepens and real yields fall as growth deteriorates.

Brent Crude Spikes to $106 After Iran Strikes South Pars Gas Field; Strait of Hormuz Fears Escalate

Global oil benchmark Brent crude spiked 3.1% to above $106 per barrel on Wednesday after Iran reported an attack on its South Pars natural gas processing complex — the world's largest gas field — in apparent retaliation for recent Israeli strikes. The development reignited fears that the conflict could escalate toward a full blockade of the Strait of Hormuz, through which roughly 20% of the world's oil supply transits daily.

The Great Sector Rotation: Investors Dump Tech Giants, Pour Capital Into Energy, Industrials, and Hard Assets

A sweeping reallocation of capital is reshaping U.S. equity markets in early 2026, as investors flee high-multiple technology and software stocks — battered by AI valuation fatigue following DeepSeek's disruptive model releases — and aggressively rotate into energy, materials, industrials, and consumer staples. The shift has been supercharged by Middle East geopolitical tensions and the $5 trillion One Big Beautiful Bill Act's domestic manufacturing stimulus.

Trump's 15% Global Tariff Set to Take Full Effect This Week, Bessent Signals Rollback Within Five Months

Treasury Secretary Scott Bessent confirmed Thursday that President Trump's revised 15% global tariff, enacted under Section 122 of the Trade Act of 1974 following the Supreme Court's invalidation of IEEPA-based duties, will take full effect this week, though Bessent expressed confidence the rates would revert to prior levels within five months as trade authorities complete sector-specific assessments.

U.S. Manufacturing Expands for Second Month Despite Tariff and Policy Uncertainty

U.S. manufacturing showed continued expansion in February as the ISM manufacturing index stayed above 50 for the second straight month, signaling modest growth. However, rising tariffs on metals and ongoing geopolitical tensions pose challenges to cost structures and supply chain efficiencies. While production and new orders showed strength, employment growth remained flat, prompting cautious optimism among industrial firms.

ISM Manufacturing PMI Holds at 52.4% in February, But Input Price Surge Raises Fed Rate-Cut Doubts

The Institute for Supply Management reported that U.S. manufacturing activity expanded for the second consecutive month in February, with the PMI reading at 52.4 percent, but the report's input prices sub-index soared at its fastest pace since 2022, reinforcing investor concerns that renewed inflationary pressures — now compounded by surging oil prices from the Iran conflict — could lead the Federal Reserve to delay or abandon interest rate cuts in the months ahead.

Block to Cut 40% of Workforce in AI-Driven Restructuring, Rattling Fintech Sector

Block, the payments and financial services company led by Jack Dorsey, announced it will eliminate approximately 40% of its workforce as part of a sweeping strategic restructuring tied to the adoption of artificial intelligence. The announcement sent S&P 500 and Nasdaq futures each down 0.4% before Friday's open and raised fresh concerns about AI-driven displacement across the broader fintech and financial services industry.