France, Italy Are Latest NATO Allies To Break Ranks, Block US Military Flights For Iran War

Surging Services Costs Spark Unexpected Surge In US Producer Prices In January US Producer Prices came in hotter than expected in January, with the headline PPI rising 0.5% MoM (vs +0.3% exp), higher than the revised +0.4% MoM in December. This left Producer Prices up 2.9% YoY (hotter than expected but below December's +3.0%)... Source: Bloomberg Under the hood, we see a surge in Services costs (not tariff related) dominated the rise in PPI (while Energy saw deflation) Final demand services: The index for final demand services advanced 0.8% in January, the largest...

Nvidia Smashes Estimates With Record Revenue And Blowout Guidance; Stock Jumps Heading into NVDA's earnings, we said that all else equal, the bare minimum for the stock - which has underperformed peers rather dramatically in recent months - to outperform, was to (solidly) beat expectations of another 2+2 quarter, i.e., beat the guide by $2BN and beat Street expectations for the April quarter guide by $2BN.  What they got was a blowout 2.2+5: Q4 revenues beating by $2.2BN and guidance beating the midpoint by about $5BN Here are the details from the just...

Oil Explodes To 29-Month Highs After Trump Says "No Deal" With Iran Except Under "Unconditional Surrender" The war has entered its seventh day, but there could be a glimmer of hope for some kind of diplomatic-led offramp as Iranian President Masoud Pezeshkian indicated Friday that several countries have begun mediation efforts to end the war with the United States and Israel, but insists negotiations must confront those who started the conflict. "Some countries have begun mediation efforts. Let’s be clear: we are committed to lasting peace in the region, yet we...