Why ARE the US and Israel Obsessed With Eliminating Iran’s Ballistic Missiles?

Exxon & Chevron Shares Jump After Big Q1 Earnings Beat The impact of the war in Iran is on full display this morning in the earnings of two oil giants - Chevron and Exxon Mobil - as both smashed earnings expectations (despite sizable production outages). Ahead of the results, Exxon and Chevron had both flagged major reductions in 1Q earnings due to “timing effects,” or paper losses on derivatives tied to cargoes that had not yet reached their destinations before the end of the quarter. These accounting charges are expected to fully unwind...

Three Factors Leave Salty-Snack Demand Stale UBS analyst Peter Grom, who covers U.S. consumer staples including packaged food, beverages, and household products, served up a sour outlook for the salty-snack category, warning that the recovery investors had hoped for remains further out than expected. "Despite recent optimism around a potential recovery in salty snacks, our analysis would suggest the category remains challenged. While tracked channel growth has turned positive relative to prior periods, we have observed momentum beginning to moderate with L13W $ takeaway growth decelerating to +1.2% vs. the +3.4%...

Yields Spike As Producer Prices Explode Higher In April After yesterday's hotter than expected CPI (driven in large part by Energy, but seeing some contagion into Services costs), this morning's Producer Price print for April was expected to show a major surge in annual wholesale inflation. With the eight straight monthly increase, PPI rose by a massive 1.4% MoM (vs +0.5% MoM exp) - the biggest MoM jump since March 2022, lifting PPI by a stunning 6.0% YoY (vs 4.8% YoY exp). That is the hottest PPI YoY since Dec 2022... Source:...