Macro & Market News

Macro indicators, Fed policy shifts, and market-moving events with equity market impact analysis. Coverage updated throughout the trading day.

By Basis Report editorial deskReviewed by Basis Report methodology teamMethodology

CLFAnalysisApr 26 · Apr 26, 2026

Cleveland-Cliffs Q1: Tariff Tailwinds Meet Cold Reality

Cleveland-Cliffs reported Q1 results showing $4.9B in steel sales offset by an $80M cold-weather hit and persistent negative margins, sending shares down 5%. The stock is caught between tariff-driven deal speculation and a balance sheet that keeps bleeding cash.

FRTAnalysisApr 4 · Apr 4, 2026

Federal Realty's Earnings Swung 150 Points Quarter to Quarter. The Stock Trades at 34x.

Federal Realty Investment Trust's alternating pattern of massive EPS beats and clean misses points to property disposition gains flattering reported earnings, not operational acceleration. At 33.6x forward PE, the Dividend King halo is pricing in secular growth that the underlying numbers don't support.

WULFAnalysisApr 3 · Apr 3, 2026

TeraWulf Called Its Power Plant Deal 'Routine.' Two Federal Watchdogs Disagree.

TeraWulf's FERC application for its marquee 500 MW Morgantown power plant failed to disclose Google's 14% affiliate stake, triggering formal rejection motions from PJM's market monitor and Public Citizen. The very Google relationship that Street analysts celebrate as validation is now the obstacle blocking the company's power acquisition pipeline.

PVHBriefApr 2 · Apr 2, 2026

PVH Corp. Beats Q4 Estimates on DTC Growth, but Tariff Risk Clouds 2026

PVH Corp. beat Q4 2025 earnings and revenue estimates on steady DTC gains, but cautious guidance around tariff exposure may limit near-term upside despite a price target raise to $66.

ALKSAnalysisApr 1 · Apr 1, 2026

Alkermes' CEO Is Stepping Down Right Before the Company's Biggest Challenges Hit

Alkermes' founding CEO Richard Pops is stepping down just as the company faces simultaneous Phase 3 execution, $1.525B in acquisition debt, and guided GAAP net losses — while quietly conceding second-mover status to Takeda in orexin. The street's $43.70 consensus target prices in orexin upside that the departing founder apparently does not want to stick around to capture.

AVGOBriefMar 21 · Mar 21, 2026

Broadcom begins volume shipping of Tomahawk 6 AI networking chips

Broadcom commenced volume shipping of its Tomahawk 6 chip designed for AI networks, positioning the company to capture significant revenue from the expanding AI infrastructure buildout.