In episode 38 of Market Beat by Argus Research, host Caroline Wygal covers a reversal in markets as yesterday's Treasury buyback rally fails to hold, with bond yields climbing back up and the 10-year rising 4 basis points to 4.69%. The Market Buzz recaps the dramatic cross-asset reaction to the Treasury's announcement that it would at least double its long-term bond buyback operations, which sent the dollar tumbling almost 0.9%, Bitcoin up 8%, gold surging nearly 4% into its 200-day average, and silver climbing 4.5%. In Active Stocks, Walmart drops 9% as slower same-store sales growth overshadows beats on sales and revenue plus raised full-year guidance, Alibaba falls 3% on high AI spending, and Moderna gives back 20% after yesterday's vaccine-driven surge. Editor Olivia Frey delivers Quick Takes with a Buy on WEC Energy Group, favoring its balanced gas and electric utility mix, accommodative regulatory footprint, and potential data center growth, and a Buy on Coca-Cola Europacific Partners, which has maintained volume growth in a challenging consumer environment while optimizing its operating model. The Deeper Dive examines the growth of Sustainable Impact Investing, now at $30 trillion in global assets under management, double the 2014 level, and traces how the discipline evolved from exclusionary screening into promoting sustainable business practices across all industries, with Europe and Japan now leading growth. For full research and information about Argus subscriptions, visit argusresearch.com.

In episode 37 of Market Beat by Argus Research, host Caroline Wygal covers a rally driven by the U.S. Treasury's announcement that it will increase buybacks of long-dated government debt, pulling interest rates lower and sending the 10-year yield down 5 basis points to 4.66%. In Active Stocks, Moderna skyrockets 94% and Merck gains 8% on positive Phase 3 results from a skin cancer vaccine trial, Target rises 3% on an earnings beat and raised guidance, and Lowe's edges higher despite a cautious outlook on sluggish DIY spending. The Market Buzz breaks down a remarkable earnings season, with S&P 500 second-quarter earnings up over 50% year over year, or closer to 30% excluding one-time gains from Alphabet and Amazon, the second-best growth since 2021. Over 85% of companies beat consensus, with strength extending well beyond AI into Materials, Energy, Industrial, Financial, and Utilities. On valuation, Argus sees stocks as reasonably valued but not bargains, with the Stock/Bond Barometer slightly favoring bonds. Analyst Stephen Biggar delivers Quick Takes with an upgrade of APA Corp to Buy on higher commodity prices and cost reductions, a raised target on Brinker International as its turnaround gains traction, and a raised target on Nucor on steel volume gains. The Deeper Dive examines the shifting Treasury yield curve, which has pushed higher and flattened from a 60 basis point spread in February to 35 today, and what that signals for growth, inflation, and the path to Fed rate cuts in 2027. For full research and information about Argus subscriptions, visit argusresearch.com.

In episode 35 of Market Beat by Argus Research, host Caroline Wygal previews the final stretch of earnings season as retailers step up to report, with Walmart, Target, Home Depot, and Lowe's headlining the week. With 91% of S&P 500 companies reported, earnings are up an impressive 25% to 30% from last quarter, led by Energy and Communication Services. All eyes are on how consumer spending is holding up after July retail sales surprisingly declined 0.6%, and Wednesday brings the Fed's July FOMC minutes for a read on Chairman Kevin Warsh's evolving approach. In Active Stocks, memory names shine again with Micron up 5%, Sandisk up 9%, and Western Digital up 6%, while SpaceX gains 5%. Analyst Christine Dooley delivers Quick Takes on Cummins, which posted big numbers and joined the August Focus List, and two Buy-rated Energy names: Targa Resources, with its fee-driven cash flow largely immune to volatile energy prices, and ONEOK, which topped earnings and earned a raised target. The Deeper Dive covers the newest Focus List additions from Associate Director of Research Kristina Ruggeri: Charles River Laboratories, Cummins, Smurfit Westrock, and Uber Technologies, with the investment case behind each pick. For full research and information about Argus subscriptions, visit argusresearch.com.

In episode 35 of Market Beat by Argus Research, host Caroline Wygal previews the final stretch of earnings season as retailers step up to report, with Walmart, Target, Home Depot, and Lowe's headlining the week. With 91% of S&P 500 companies reported, earnings are up an impressive 25% to 30% from last quarter, led by Energy and Communication Services. All eyes are on how consumer spending is holding up after July retail sales surprisingly declined 0.6%, and Wednesday brings the Fed's July FOMC minutes for a read on Chairman Kevin Warsh's evolving approach. In Active Stocks, memory names shine again with Micron up 5%, Sandisk up 9%, and Western Digital up 6%, while SpaceX gains 5%. Analyst Christine Dooley delivers Quick Takes on Cummins, which posted big numbers and joined the August Focus List, and two Buy-rated Energy names: Targa Resources, with its fee-driven cash flow largely immune to volatile energy prices, and ONEOK, which topped earnings and earned a raised target. The Deeper Dive covers the newest Focus List additions from Associate Director of Research Kristina Ruggeri: Charles River Laboratories, Cummins, Smurfit Westrock, and Uber Technologies, with the investment case behind each pick. For full research and information about Argus subscriptions, visit argusresearch.com.

In episode 34 of Market Beat by Argus Research, host Caroline Wygal covers a broadly higher market as tame PPI numbers strengthen the case for the Fed to hold rates steady. The quiet is measurable: the VIX has declined in eight of the past 10 days, closing at 14.6, its lowest level since late 2025, well below its 19 average since 2021. In Active Stocks, Cisco falls 7% on lower margins despite an earnings beat, CAVA extends its post-earnings rally with a 4% gain, and hardware names Dell, HP, and Hewlett Packard Enterprise all rise following Lenovo's strong results. Analyst Christine Dooley delivers Quick Takes with a cautious Hold on Super Micro amid a pending export violation case, a Buy on CAVA driven by growing traffic and a strong restaurant opening pace, and a Buy on British American Tobacco as its smoke-free transition gains traction. The Deeper Dive updates Argus's oil forecast, now calling for $80 per barrel in 2026 with a second-half trading range of $70 to $120, as the Strait of Hormuz closure keeps roughly 20% of global oil supply constrained and the EIA projects a 5% decline in global supply this year, with an initial 2027 outlook of $70 as supply eventually recovers. For full research and information about Argus subscriptions, visit argusresearch.com.

In episode 33 of Market Beat by Argus Research, host Caroline Wygal covers an in-line inflation report and a standout day for AI infrastructure stocks. CPI rose 0.1% in July and 3.4% year over year, matching consensus, with the steady reading likely keeping the Fed on hold, as rate hike odds for September fall to 42% on the CME FedWatch tool. In Active Stocks, CoreWeave surges 18% on margin outperformance, Super Micro jumps 14% on raised guidance amid AI server demand, and CAVA Group climbs 12% on improved restaurant traffic. The IEA cuts its 2026 oil demand outlook as the Strait of Hormuz closure and elevated fuel prices weigh on consumption. Analyst Stephen Biggar delivers Quick Takes with bullish views on Cloudflare's agentic AI positioning, Xylem's water technology tailwinds, and Freeport-McMoRan, where copper stockpiling supports raised estimates and a higher target. The Deeper Dive examines the quiet story behind a blockbuster earnings season: with growth landing in the high-20% range and 86% of companies beating consensus, S&P 500 operating margins widened 160 basis points to 13.4%, approaching the all-time high of 14%, and Argus sees room for further expansion as the profitable Information Technology sector increasingly dominates earnings. For full research and information about Argus subscriptions, visit argusresearch.com.

In episode 32 of Market Beat by Argus Research, host Caroline Wygal covers a day of Argus rating changes. Boeing is upgraded to Buy on a production ramp-up, new flight certifications, and strong order backlogs, while Centene earns an upgrade to Buy after a 68% surge over the past quarter backed by stable revenue and consistent earnings growth. On the flip side, Procter & Gamble moves to Hold on slowing growth guidance and declining core operating margins. In other Active Stocks, On Holding plunges 22% on a disappointing quarter, Intel slips as it ups its stock issuance to $20 billion, and CoreWeave reports after the bell. Chief Economist Chris Graja's call of the week looks for consumer inflation to ease slightly in tomorrow's report, forecasting headline CPI of 3.4% for July, down from 3.5%, with core CPI expected at 2.5%. The Deeper Dive digs into GARP investing, Growth At A Reasonable Price, using PEGY ratios to find sectors balancing growth prospects with value, highlighting Financial, Materials, Energy, and Communication Services as groups trading at or below the S&P 500's 1.7 ratio, and laying out Argus's current sector weightings, with Over-Weights on Information Technology, Financial, Industrial, and Materials. For full research and information about Argus subscriptions, visit argusresearch.com.

In episode 31 of Market Beat by Argus Research, host Caroline Wygal returns from a week off with a big call: Argus is upgrading SpaceX to Buy. In its first quarter as a public company, SpaceX reported $8 billion in revenue, up 92% year over year, and signaled a year-end revenue run rate approaching $100 billion, well above initial forecasts, while the shares sit roughly 40% below their all-time highs. In Active Stocks, Intel falls 4% on a dilutive $15 billion stock sale, and Berkshire Hathaway rises 2% as new CEO Greg Abel begins deploying the company's cash pile. The Wall Street Buzz previews a week of earnings and inflation data, with 87% of S&P 500 companies reported and earnings up an impressive 28% from last quarter, while fresh CPI numbers and the Fed's Jackson Hole retreat loom ahead of a September rate meeting where odds are split between a hold and a hike. Quick Takes bring two more upgrades: Sandisk to Buy after a nearly 50% pullback from its highs despite exceptional guidance, and eBay to Buy on 17% earnings growth and AI-powered platform improvements. The Deeper Dive covers Energy and Materials, sleepy no more, as the Iran war and the AI buildout drive demand, with Energy up 30% as the best-performing S&P 500 sector and Argus's Buy-rated picks spanning Exxon Mobil, SLB, ConocoPhillips, Rio Tinto, Freeport-McMoRan, Linde, and more. For full research and information about Argus subscriptions, visit argusresearch.com.

In episode 30 of Market Beat by Argus Research, host Caroline Wygal breaks down a surprise GDP miss as second-quarter growth comes in at a 1.5% annualized rate, below the 1.8% forecast and a deceleration from 2.1% in the prior quarter. On inflation, headline PCE cools to 3.7% for June from 4.1% in May, with core PCE easing to 3.3%, both matching expectations. In Active Stocks, Microsoft soars 15% on blowout earnings driven by surging Azure cloud revenue, while Meta Platforms drops 9% on disappointing guidance as AI investments squeeze cash flow, with Apple and Amazon on deck to report after the close. Markets trade higher at midday on a semiconductor rebound, with the VIX down 9% to 19. Editor Olivia Frey delivers Quick Takes with a downgrade of Las Vegas Sands to Hold on China weakness, a raised target on Coca-Cola on portfolio diversification and brand innovation, and a raised target on RTX Corp on strong defense demand and commercial aerospace exposure. The Deeper Dive digs into the GDP report, where core private demand rose a strong 3.9% despite a 4.1% drop in federal spending, consumer spending accelerated to 3.2%, and AI-driven investment powered 15.2% equipment growth. The Fed held rates at 3.5% to 3.75% in a 9 to 3 vote, and Argus Fixed Income Strategist Kevin Heal expects the target to hold through 2026 with a cut in the second half of 2027. For full research and information about Argus subscriptions, visit argusresearch.com.

In episode 29 of Market Beat by Argus Research, host Caroline Wygal covers a down day for stocks as oil prices resume their climb, with crude up 8% near $85 a barrel and all eyes on the Fed's 2 p.m. rate decision. Markets aren't expecting a move, but recent close votes among committee members have investors on edge ahead of Chair Kevin Warsh's press conference. In Active Stocks, Ford rises 5% on raised full-year guidance despite mixed results, Seagate gains 2% on surging cloud storage demand, and Procter & Gamble falls 3% on a revenue miss and soft fiscal 2027 guidance tied to higher input costs. The Market Buzz notes that with earnings growth in the mid-20% range so far, investors are rotating AI winnings into long out-of-favor sectors like Healthcare, and Argus recommends looking for value beyond the recent headline leaders, including potential inflection points in software. Analyst Stephen Biggar delivers Quick Takes with a raised target on Johnson & Johnson after its $5.5 billion talc settlement clears a cloud over the stock, a defense of PayPal's value versus the Stripe-Advent takeover bid, and a bullish view on Quest Diagnostics on brain health testing demand and its 15th straight year of dividend hikes. The Deeper Dive examines U.S. leadership in drug R&D, with nearly $900 billion in biopharma R&D spending representing 55% of the global total, 58 new FDA drug approvals in 2025, and more than half of all new drugs launching in the U.S. first. For full research and information about Argus subscriptions, visit argusresearch.com.