Archives April 2025

In his latest backtracking on tariff policy, President Donald Trump has signed an executive order reducing import taxes for cars, as well as on parts and materials automakers bring in from abroad.

The White House said Tuesday that vehicles will no longer be subject to additional tariffs on top of the 25% levy on imported cars and trucks. This will prevent tariffs from stacking up on cars made in countries that are subject to additional tariffs. Trump reportedly signed the executive order Tuesday afternoon.

In addition, domestic automakers will also get a tax break on foreign-made parts that go into their vehicles, starting at up to 3.75% of the car’s value for one year, 2.5% the next year, and phasing out completely the third year.

“We just wanted to help them during this little transition, short-term,” Trump said Tuesday afternoon.

Taken together, the changes soften though not eliminate the impact of the taxes, which are expected to drive up prices for new cars by thousands of dollars , and drive up costs for used cars, repairs, and insurance.

The move is the latest about-face in Trump’s on-again, off-again trade wars. Since February, Trump has repeatedly announced various tariffs against trading partners only to suspend or water them down after they’ve gone into effect.

Canada’s newly elected Prime Minister, Mark Carney, is the only central bank governor to have received an “A” grade from Global Finance magazine for his tenure in two different countries.

The Liberal Party of Canada pulled off a stunning upset in the national election. By choosing Mark Carney—the former governor of both the Bank of Canada and the Bank of England—as its new leader, the party overcame a 25-point polling deficit under a battered Justin Trudeau to defeat Pierre Poilievre’s Conservative Party and secure a fresh fourth parliamentary mandate—an unprecedented feat in Canadian politics. Carney and his party are expected to win most of the 343 seats in Parliament, though they will likely fall short of an outright majority (at the time of publication, the Liberals were leading with 169 seats).

Carney earned high marks as a central banker during both the global financial crisis and Brexit. Global Finance magazine awarded him an “A” grade in its annual Central Banker Report Cards in 2012 during his tenure in Canada, and again in 2016 in the UK, along with two “A-minus” grades in 2018 and 2019. He led the Bank of Canada from 2008 to 2013 and the Bank of England from 2013 to 2020. Unlike Poilievre, Carney has never held elected office and is, in many ways, a newcomer to frontline politics.

The Canada Mark Carney will lead is a very different one than any of his predecessors have in recent memory. With Donald Trump back in office, Canada has united against the imposition of a trade war by the US with tariffs that threaten economic stability, in areas such as autos, lumber and aluminum, as well as a president who has stated he would like to erase the border and make Canada the 51^st state. Canadians have been shunning American products and cancelling vacations to the US in protest. In many respects, Trump’s policies, which where a major talking point of all candidates during the run up to the election, were the biggest influence in putting Carney in office.

When Parliament resumes, Carney has promised to implement an agenda that will fight an economic war with its biggest trading partner and oldest ally. The new prime minister has promised to sit down with President Trump and reconvene a conversation on trade they started when Carney took over from Trudeau after he was made head of the Liberal Party in early March. Also, a middle-class tax cut has been promised that he says will save two-income families up to C$825 ($594) per year.

Because of a massive housing shortage in the country, the Liberals have promised to create a “Build Canada Homes” policy that would double the speed of construction to 500,000 homes per year and would invest C$35 billion for prefabricated home builders and low-cost financing capital for builders. In other areas often difficult to navigate in Canada, Carney has promised to look at reducing interprovincial trade barriers as well as strengthening the country’s ability to produce and export energy.

Carney’s previous roles and international experience make him a known quantity to leaders overseas. After his victory, European Commission President Ursula von der Leyen said on X, formerly Twitter, “The bond between Europe and Canada is strong — and growing stronger. I look forward to working closely together, both bilaterally and within the G7. We’ll defend our shared democratic values, promote multilateralism, and champion free and fair trade.”

British Prime Minister Keir Starmer said in a statement that the connections between Carney and the U.K., stemming from his time as governor of the Bank of England, are extremely important. “With your leadership, and personal ties to the U.K., I know the relationship between our two countries will continue to grow,” Starmer added.

Those ties will become even more important as Canada pivots from a north-south economic orientation toward stronger ties with Europe. Carney’s first trips as Liberal Party leader in March were to Paris and London, where he told French President Emmanuel Macron that Canada was the “most European of non-European countries.” With his leadership secure and the election behind him, Carney will face his first international test as prime minister in June, when he hosts the G7 Leaders’ Summit in Kananaskis, Alberta.

— Read about Mark Carney’s grading as UK bank governor in Global Finance’s Central Banker Report Card in 2016.

— Read about Mark Carney’s grading as Canada bank governor in Global Finance’s Central Banker Report Card in 2012.

Below you’ll find featured rates available from our partners, followed by details from our ranking of the best CDs available nationwide.

Rates of 4.50% and Up That You Can Guarantee Into 2026

On Friday, CD shoppers had two 4.60% options on the table—one for a 6-month term and another for 10 months. But the longer CD dropped off the market over the weekend, and now the 6-month offer at 4.60% has also been retired.

Fortunately, today’s highest rate is just a slightly lower 4.50%. Not only that, but you have 11 choices for locking in that rate. The shortest option is 3 months, available from two different institutions, with the longest 4.50% offer letting you guarantee your rate for 18 months. Available from XCEL Federal Credit Union, the 18-month CD will secure your 4.50% return until about November of next year.

All Federally Insured Institutions Are Equally Protected

Your deposits at any FDIC bank or NCUA credit union are federally insured, meaning you’re protected by the U.S. government in the unlikely case that the institution fails. Not only that, but the coverage is identical—deposits are insured up to $250,000 per person and per institution—no matter the size of the bank or credit union.

Consider Longer-Term CDs To Guarantee Your Rate Further Into the Future

For a rate lock you can enjoy into 2027, Lafayette Federal Credit Union is paying 4.28% APY for a full 24 months. Want a longer guarantee with a slightly higher APY? Genisys Credit Union is still offering 4.32% for 30 months.

Savers who want to stash their money away for even longer might like the leading 4-year or 5-year certificates. Though the 4-year rate dropped last week from 4.40%, you can still lock in a 4.28% rate for 4 years from Lafayette Federal Credit Union. In fact, Lafayette promises the same 4.28% APY on all its certificates from 7 months through 5 years, letting you secure that rate as far as 2030.

Multiyear CDs are likely smart right now, given the possibility of Fed rate cuts in 2025 and perhaps 2026. The central bank has so far lowered the federal funds rate by a full percentage point, and this year could see additional cuts. While any interest-rate reductions from the Fed will push bank APYs lower, a CD rate you secure now will be yours to enjoy until it matures.

Today’s Best CDs Still Pay Historically High Returns

It’s true that CD rates are no longer at their peak. But despite the pullback, the best CDs still offer a stellar return. October 2023 saw the best CD rates push above 6%, while the leading rate is currently down to 4.60%. Compare that to early 2022, before the Federal Reserve embarked on its fast-and-furious rate-hike campaign. The most you could earn from the very best CDs in the country then ranged from just 0.50% to 1.70% APY, depending on the term.

Jumbo CDs Top Regular CDs in 5 Terms

Jumbo CDs require much larger deposits and sometimes pay premium rates—but not always. In fact, the best jumbo CD rates right now are no better than the top standard rates in three of the eight CD terms we track.

Among 1-year and 18-month CDs, both the top standard and top jumbo CDs pay the same rate of 4.50% APY. Meanwhile, institutions are offering higher jumbo rates in the following terms:

• 6 months: My eBanc and Credit One Bank offer 4.55% for a 6–7 month jumbo CD vs. 4.50% for the highest standard rate.
• 2 years: Lafayette Federal Credit Union offers 4.33% for a 2-year jumbo CD vs. 4.28% for the highest standard rate.
• 3 years: Hughes Federal Credit Union offers 4.34% for a 3-year jumbo CD vs. 4.32% for the highest standard rate.
• 4 years: Lafayette Federal Credit Union offers 4.33% for a 4-year jumbo CD vs. 4.28% for the highest standard rate.
• 5 years: Both GTE Financial and Lafayette Federal Credit Union offer 4.33% for jumbo 5-year CDs vs. 4.28% for the highest standard rate.

That makes it smart to always check both types of offerings when CD shopping. If your best rate option is a standard CD, simply open it with a jumbo-sized deposit.

Where Are CD Rates Headed in 2025?

In December, the Federal Reserve announced a third rate cut to the federal funds rate in as many meetings, reducing it a full percentage point since September. But in January and March, the central bankers declined to make further cuts to the benchmark rate.

The Fed’s three 2024 rate cuts represented a pivot from the central bank’s historic 2022–2023 rate-hike campaign, in which the committee aggressively raised interest rates to combat decades-high inflation. At its 2023 peak, the federal funds rate climbed to its highest level since 2001—and remained there for nearly 14 months.

Fed rate moves are significant to savers, as reductions to the fed funds rate push down the rates banks and credit unions are willing to pay consumers for their deposits. Both CD rates and savings account rates reflect changes to the fed funds rate.

Time will tell what exactly will happen to the federal funds rate in 2025 and 2026—and tariff activity from the Trump administration has the potential to alter the Fed’s course. But with more Fed rate cuts possibly arriving this year, today’s CD rates could be the best you’ll see for some time—making now a smart time to lock in the best rate that suits your personal timeline.

Daily Rankings of the Best CDs and Savings Accounts

We update these rankings every business day to give you the best deposit rates available:

Important

Note that the “top rates” quoted here are the highest nationally available rates Investopedia has identified in its daily rate research on hundreds of banks and credit unions. This is much different than the national average, which includes all banks offering a CD with that term, including many large banks that pay a pittance in interest. Thus, the national averages are always quite low, while the top rates you can unearth by shopping around are often five, 10, or even 15 times higher.

How We Find the Best CD Rates

Every business day, Investopedia tracks the rate data of more than 200 banks and credit unions that offer CDs to customers nationwide and determines daily rankings of the top-paying certificates in every major term. To qualify for our lists, the institution must be federally insured (FDIC for banks, NCUA for credit unions), the CD’s minimum initial deposit must not exceed $25,000, and any specified maximum deposit cannot be under $5,000.

Banks must be available in at least 40 states. And while some credit unions require you to donate to a specific charity or association to become a member if you don’t meet other eligibility criteria (e.g., you don’t live in a certain area or work in a certain kind of job), we exclude credit unions whose donation requirement is $40 or more. For more about how we choose the best rates, read our full methodology.

How a reshored manufacturing base will look? … the math behind onshoring … Luke Lango’s “MAGA 7” stocks … will China blink first? … tariffs begin to bite

As we’re going to press, news is breaking that the United States has reached a trade agreement with an unspecified country. 

From Commerce Secretary Howard Lutnick:

I have a deal done, done, done, done, but I need to wait for their prime minister and their parliament to give its approval, which I expect shortly.

Given our publishing deadline, we’ll have to bring you more on this tomorrow, but the market is jumping as I write. All three major indexes are higher, led by the Dow, up 0.80%.

The U.S. worker is fat, lazy, and deeply unfulfilled…

According to China.

About two weeks ago, Chinese state media released a video mocking the idea of a revitalized U.S. manufacturing base, operated by American workers.

Here’s a screenshot:

The reality is far different.

If the Trump Administration is to reshore millions of manufacturing jobs successfully, the coming labor force will appear nothing like what Beijing suggests.

Let’s go to our technology expert Luke Lango:

Trump’s industrial renaissance only works if robots build it.

The 21st-century American factory will not look like Detroit in the 1950s. It will look like Tesla Inc.’s (TSLA) Gigafactory, multiplied across industries.

There will be fewer humans working inside them, replaced instead by dozens of industrial arms, autonomous material handling, machine vision-based quality-assurance systems, and zero-light warehouses.

The goal may be to replace Chinese or Indian labor with American labor. The reality is that we’ll replace foreign humans with domestic machines.

Regular Digest readers know that I’ve been hammering this same point in recent weeks

In our April 16 Digest, we zeroed in on “the Real Winner of Trump’s Onshoring Push,” which was:

The companies that leverage robotics, and the investors who saw the writing on the wall.

This conclusion is driven by basic corporate finance.

Reshoring requires far greater payroll expense, real estate costs, and electricity/energy expense (among other costs). If cost-averse CEOs don’t reshore and eat such expenses, it appears they’ll face new tariff costs.

Damned if you do, damned if you don’t.

This leaves corporate managers facing a lose/lose tradeoff where Option 1 erodes profit margins, and Option 2 weighs on revenues from cost-conscious consumers.

CEOs will opt for a third option: Replacing human workers with robots.

This makes for a much easier comparison…

Humans: massive salary expense, benefits expense, sick days, vacation days, human error on the job…

Robots: one time CapEx expense, marginal yearly maintenance expense, perfect job execution with no need for rest/breaks/benefits/and so on…

Bottom line: Onshoring will accelerate the transition to robotics/humanoids.

Luke again:

That is why our team sees physical AI — robots, automation systems, machine vision — as the next leg of the AI Revolution.

Until now, most of the AI hype has revolved around language models, chatbots, and digital copilots. Those software breakthroughs have been transformative for knowledge work.

But the next frontier is the physical world:

• Factory robots that can see, learn, and adapt.
• Warehouse pick-and-pack bots powered by machine vision models.
• Autonomous forklifts and mobile platforms.
• AI-driven robotic arms that can manufacture, weld, and inspect.

In the Digest last week, I recommended the largest AI/robotics ETFs as the most conservative way to play robotics. But I added that I would “be bringing you some of the top ideas from our experts.”

Well, here’s our first batch of those top ideas.

This Thursday at 7 PM Eastern, Luke will unveil his “MAGA 7” stocks

MAGA is not a reference to President Trump’s “Make America Great Again” slogan; it’s Luke’s twist on the concept…

Make AI Great in America

On Thursday, Luke will discuss a small basket of AI/robotics leaders and why he believes they’re about to be on the receiving end of a wave of “panic” buying.

In short, it has to do with an event Luke sees occurring on May 7 that will spur a frantic dash into physical AI stocks.

Back to Luke:

If I’m right, May 7 could mark the start of a melt-up — one in which physical-AI winners become the new titans of American industry.

That is the sort of opportunity often described as “generational wealth.” It is not about adding a few percentage points to a portfolio. It is about potentially changing a family’s balance sheet for decades.

This is not merely a policy trend. It is an investment megatrend.

• The economic math points to automation.
• Political momentum points to domestic buildout.
• The AI infrastructure build points to a physical AI supercycle.

To join Luke this Thursday for more on these MAGA 7 stocks, the following link will automatically register you to attend. Click here to instantly sign up.

More on this tomorrow.

“It is a full-blown crisis already”

So says Peter Friedmann, executive director of the Agriculture Transportation Coalition (AgTC), a leading export trade group for farmers.

Friedmann is referencing the U.S. farming industry, which is dealing with the fallout of the trade war. China’s sudden cancellation of huge volumes of agricultural products is resulting in what the AgTC calls “massive” financial losses.

Here’s CNBC:

Data released by the U.S. Department of Agriculture on Thursday revealed China made its biggest cancellation of pork orders since 2020, halting a shipment of 12,000 tons of pork…

A wood pulp and paperboard exporter reported to the trade group the immediate cancellation or hold of 6,400 metric tons in a warehouse and a hold of 15 railcars sitting in what is known in the supply chain as “demurrage,” when fees are charged for delayed movement of goods.

Meanwhile, the exporter said there are 9,000 metric tons on the water to China expected to arrive on May 13 and facing the threat of costly diversion to Chinese bonded warehouses or to other countries as Chinese buyers may refuse the cargo and abandon it at port.

One grass seed exporter told AgTC it received two weeks notice that eight loads were being canceled by Chinese customers despite vessels bookings already being in place.

The shipping traffic from China to U.S. shows a dramatic slowdown.

According to Vizion Global Ocean Bookings Tracker, China-to-U.S. vessel traffic has fallen 22.2% over the last two weeks. On a year-over-year basis, it’s off 44%.

Here’s a Vizion spokesperson:

What we’ve seen in the last two weeks is a continued correction in booking demand for U.S. imports, especially U.S. imports from China.

We are now seeing this translate to a drop in departures as well.

This morning, news broke that the Port of Los Angeles predicts shipments from China will fall 35% next week as tariffs begin to bite.

From Gene Seroka, the executive director of the Port of Los Angeles:

Realistically speaking, until some accord or framework can be reached with China, the volume coming out of there — save a couple of different commodities — will be very light at best.

This trade-war escalation has investors asking a key question…

Who will blink first between the U.S. and China?

According to Treasury Secretary Scott Bessent, it must be China:

I believe that it’s up to China to de-escalate, because they sell five times more to us than we sell to them, and so these 120%, 145% tariffs are unsustainable.

This is likely to be challenging.

Chinese culture places a major emphasis on “saving face.”

History buffs will recall the “Century of Humiliation” (1839–1949), during which Western powers imposed treaties on China that they found humiliating. The modern-day impact is that Beijing remains especially sensitive to any deals that appear one-sided. Appearances are critical.

We saw shades of this in the 2019 trade war. From President Xi Jinping at that time:

In the West, you have the notion that if somebody hits you on the cheek, you turn the other cheek.

In our culture, we push back.

This morning brought another example when The Wall Street Journal reported that the Chinese Ministry of Foreign Affairs posted a video to social media saying, “China won’t kneel down.”

So, what might China do instead of blinking? Here are a few ideas off the top of my head:

• Eliminate all exports of critical rare earth minerals, which are essential for various technologies
• Increase imports from countries like Brazil and Argentina to replace U.S. products
• Completely suspend imports from certain U.S. companies to apply financial pressure in an effort to get them to lobby President Trump for change
• Increase spending, issue new bonds, and provide consumer subsidies to stimulate domestic demand to offset the economic pain
• Use the People’s Bank of China to cut interest rate cuts and reduce bank reserve requirements to support growth

“Jeff, China can’t handle losing the U.S. as a trading partner. We’re too big. Our loss would cripple them. They’ll blink”

You’re right. We could inflict enormous economic damage on China.

However, China’s political climate isn’t like ours…

Unlike the United States, where public opinion quickly influences elections, China’s authoritarian system allows its leadership to impose economic austerity without immediate political cost.

The Chinese Communist Party faces no free elections. State-controlled media can frame economic sacrifices as patriotic struggles.

Translation – Beijing can implement wildly unpopular economic policies, saving political face at the expense of its people.

Not so much in Washington…

U.S. administrations must quickly respond to voter dissatisfaction, limiting their ability to sustain painful trade policies over time.

Take this morning’s news that Amazon was reportedly planning to display the cost hike associated with President Trump’s trade war.

Knowing what this could do in the court of public opinion, White House press secretary Karoline Leavitt told reporters, “This is a hostile and political act by Amazon.”

Just a few hours later, Amazon backed away from the idea, with a spokesperson saying, that the plan “was never approved and not going to happen.”

We also see this sensitivity to voters and appearances in the investment markets.

Though President Trump insisted that the aggressive bond selloff from earlier this month did not prompt his “pause” on reciprocal tariffs, that feels highly unlikely.

It’s more realistic that Trump was well aware of escalating market turmoil – particularly in the bond market – and his advisors warned that a lack of action would implode the market, and the surging 10-year Treasury yield (at that time) would kneecap the economy.

So, we hope Bessent is right about China blinking first. But as we just saw, they don’t like to “kneel down.”

Seeing the big picture

If the trade war escalates and drags on, it will drive prices higher.

While that will cause economic pain for U.S. companies and consumers, it will also spark what adversity often does: innovation.

One likely outcome will be the accelerated adoption of AI and robotics as businesses look for ways to cut input costs and blunt the impact of rising trade-related expenses.

And that brings us full circle to Luke and his event this Thursday: the 2025 Summer Panic Summit at 7 PM Eastern. Here’s that one-click, instant/automatic sign-up link again.

Here’s Luke with the final word:

President Trump wants to bring manufacturing back to America, but only robots can make the math work.

That is why this coming Thursday, May 1, at 7 p.m. Eastern, I’m hosting an urgent strategy online session. During the event I’ll show you how we can not only protect our portfolios this summer… but also see triple-digit gains in the coming years.

I’ll detail seven new opportunities – the “MAGA 7” – at the center of this historic Summer Panic. 

Hope to see you there.

Have a good evening,

Jeff Remsburg

Super Micro Computer (SMCI) shares plunged in extended trading Tuesday after the company published preliminary quarterly results below its prior forecast. 

The server maker and Nvidia (NVDA) partner said it now expects fiscal third-quarter revenue of $4.5 billion to $4.6 billion, well below its previous estimate of $5 billion to $6 billion. It projected adjusted earnings per share of 29 cents to 31 cents, down from 46 cents to 62 cents previously. 

Shares of the beleaguered server maker tumbled more than 15% in after-hours trading. The stock was up 18% for 2025 through Tuesday’s close. 

The downward revision comes after delayed consumer product decisions pushed sales into Supermicro’s fiscal fourth quarter, the company said. 

Supermicro shares have seen significant volatility this year as concerns about the company’s accounting practices and delayed filings raised worries it could be delisted from the Nasdaq. The company ultimately met the exchange’s deadline to file its delayed reports in February, but still faces challenges, including uncertainty around the impact of tariffs.

Written by Steven Dooley, Head of Market Insights, and Shier Lee Lim, Lead FX and Macro Strategist

Aussie turns sharply from recent key levels

The Australian dollar hit new year-to-date highs versus the US dollar overnight before turning lower ahead of today’s all-important Australian inflation data.

The March-quarter inflation number, due at 11.30am AEST, will be key ahead of the Reserve Bank of Australia’s next meeting on 20 May. 

Financial markets are looking for Australian headline annual inflation to fall from 2.4% to 2.2% while the closely-watched trimmed mean number is forecast to fall from 3.2% to 2.8% (source: Bloomberg).

With a 25bps rate cut to 3.85% now fully priced in, a lower number today could open up the possibility of a 50bps cut and cause the AUD to fall.

The AUD/USD ended the session down 0.7%.

In other markets, the US dollar was mostly higher, with NZD/USD down 0.7% although the USD/SGD bucked the trend and remained steady near one-year lows.

China reaffirms no trade talks are underway with the US

Bloomberg reports that Guo Jiakun, the spokesperson for China’s foreign ministry, reaffirmed the government’s stance that China is not involved in trade negotiations with the United States.

The spokesman for the ministry stated during Monday’s daily briefing that there haven’t been any phone conversations with the US lately, which appears to be a clear refutation of US President Trump’s claim that China’s Xi Jinping had called him. 

While the USD was stronger in most markets overnight, the USD/CNH extended recent losses.

USD/CNY has retreated by 1% from the recent all-time high of 7.3511.

Similarly, USD/CNH is now down almost 3.0% from the recent all-time highs 7.4290.

Next key support for USD/CNH is its 200-day EMA of 7.2536 – a key level of opportunity for USD buyers.

ECB De Guindos sees modest growth in Q1 as EUR gains

According to Luis de Guindos, Vice President of the European Central Bank, new data points to modest growth for the Eurozone in the first quarter of 2025.

He stated that inflation is anticipated to stay close to the ECB’s 2% objective when he presented the ECB’s 2024 annual report to the European Parliament’s Committee on Economic and Monetary Affairs.

“The central bank is not pre-committing to a particular rate path and will continue to follow a data-dependent and meeting-by-meeting approach to setting the appropriate monetary policy stance, especially given current uncertainty,” he said. 

Chart shows falling oil prices bode well for EUR/USD. That said, the key support handle for EUR/USD is at 21-day EMA 1.1241.

For EUR/SGD, it rests on 21-day EMA of 1.4835, after correcting from recent short-term highs of 1.5113.

Aussie down as CPI looms  

Table: seven-day rolling currency trends and trading ranges

Key global risk events

Calendar: 29 April – 3 May

Have a question? [email protected]

*The FX rates published are provided by Convera’s Market Insights team for research purposes only. The rates have a unique source and may not align to any live exchange rates quoted on other sites. They are not an indication of actual buy/sell rates, or a financial offer.

Starbucks (SBUX) reported fiscal second-quarter revenue and earnings that missed analysts’ expectations, sending shares lower in extended trading Tuesday.

The coffee giant reported revenue of $8.76 billion, up 2% year-over-year but just below the analyst consensus from Visible Alpha. Starbucks’ adjusted earnings per share of 41 cents fell from 68 cents a year earlier and failed to meet Wall Street’s projections.

Global same-store sales fell 1%, a slightly sharper drop than the 0.5% decline analysts expected, which the company attributed to declining transaction volumes, partially offset by higher spending per ticket.

The results reflect the third report or second full quarter under CEO Brian Niccol, whose “Back to Starbucks” turnaround plan has included revamping the chain’s cafes in a bid to make them more welcoming, prioritizing getting customers their orders within four minutes, and restoring its condiment bar.

“Improving transaction comp in a tough consumer environment at our scale is a testament to the power of our brand and partners getting ‘Back to Starbucks.’ We are on track and if anything, I see more opportunity than I imagined,” Niccol said.

Starbucks shares dropped over 6% in after-hours trading. The stock has lost about 7% so far in 2025 through Tuesday’s close.

Stocks have staged an impressive late-April rally.

Last week, the S&P 500 jumped 4.6% and the Dow climbed 2.5%. Meanwhile, the NASDAQ soared 6.7%, putting it in positive territory for the month.

The cause of last week’s surge came from two important developments…

First, despite President Trump’s frustration with the Federal Reserve and his comments that Fed Chair Jerome Powell’s “termination can’t come quickly enough,” Trump noted that he has “no intention” of firing Powell. So, for now, it looks like Powell will finish out his term as Fed Chair, which ends in 2026.

Second, there are thawing trade tensions between the U.S. and China. Trump predicted that the final tariff on China would not be “anywhere near” the 145% level, and he added that “we’re going to be very nice” in negotiations.

But this week, there are a couple of things I’d like to focus on instead: Economic reports and earnings season.

That’s why, in this week’s edition of Market Buzz, I give my thoughts on what I expect from key economic reports set to be released this week, including the Federal Reserve’s favorite inflation indicator, the Personal Consumption Expenditures (PCE) report. Then, I’ll preview several earnings reports from companies that could rock the market. And finally, I’ll explain why economist Ed Yardeni thinks recent negative magazine covers should be considered bullish.

Click the image below to watch now!

If you like what you saw in today’s video, make sure to subscribe to my YouTube channel here. Also, if you’d like to see more of Ed Yardeni’s research, go here to subscribe to his “Quick Takes,” which I highly recommend!

A Buying Frenzy Is Incoming

Despite fears of a bear market on the horizon, my InvestorPlace colleague Luke Lango predicts that there will be a buying frenzy fueled by investors redeploying cash into stocks.

To be more specific, he thinks an upcoming catalyst is about to create a wave of “panic buying,” causing much of the $7 trillion that’s sitting on the sidelines to flood the market as soon as May 7.

That’s why Luke is recommending a select group of small-cap stocks that he calls the “MAGA 7” (Make AI Great in America). They will be the key to building a “nest egg” in this new bull market.

Now, this Thursday, May 1, at 7 p.m. Eastern, Luke is going to tell you everything you need to know at The 2025 Summer Panic Summit – including how you can access his “MAGA 7” stocks.

Click here to instantly reserve your spot for the event.

Sincerely,

Louis Navellier

Editor, Market 360

Visa (V) reported fiscal second-quarter results that beat analysts’ expectations and announced a $30 billion stock buyback program.

The credit giant reported revenue of $9.59 billion, up 9% year-over-year and above the analyst consensus from Visible Alpha. Adjusted net income of $5.44 billion, or $2.76 per share, compared to $5.11 billion, or $2.51 per share, a year earlier, topping Wall Street’s estimates.

Visa’s payments volume increased by 8% and its processed transactions grew 9%. CEO Ryan McInerney said, “consumer spending remained resilient, even with macroeconomic uncertainty.”

The company also announced a new $30 billion share repurchase program.

Visa shares rose close to 2% in after-hours trading. The stock was up 8% for 2025 through Tuesday’s close. 

Earlier this month, Visa reportedly offered Apple (AAPL) roughly $100 million in a bid to replace Mastercard (MA) as the provider of the tech titan’s payments network. Visa and American Express (AXP) have been vying to replace Mastercard as the payments network for Apple’s credit card currently issued by Goldman Sachs (GS), the report said.

Updated on April 29th, 2025
By Bob Ciura, David Morris, & Ben Reynolds

The dividend payment process may seem simple.  You invest in a dividend paying stock, and then the dividends end up in your brokerage account when payments are made (typically quarterly).

Income investors looking for quality dividend stocks should start with the Dividend Kings, a group of 55 stocks that have raised their dividends for at least 50 consecutive years.

You can download a free list of all 55 Dividend Kings by clicking on the link below:

 

There’s actually four steps to the dividend payment process that often go unnoticed by dividend investors:

1. Declaration date
2. Ex-Dividend date
3. Record date
4. Payment date

Investors should become familiar with all four terms before buying a dividend stock, as being able to identify these dates will help avoid any potential confusion.

This article will discuss each term in detail, and use two examples to show how these dates can be easily found for specific companies.

Table of Contents

Overview Of The 4 Step Dividend Payment Process

Step #1:  First, a company declares they are paying a dividend.  This is the dividend declaration date.

Step #2:  Then, a company decides which shareholders will receive a dividend.  Shareholders who own shares before the ex-dividend date will receive the next dividend payment.
Important Note:  The ex-dividend date is two days before the record date.

Step #3:  The record date is the date when the corporation actually looks at its records to determine who will receive the dividend.

Step #4:  Finally, the payment date is the payment date, when the dividend is actually paid to shareholders.

What really matters for shareholders is receiving the dividend in question.  And three important dates determine who receives the dividend (and who doesn’t).

The first important date is your purchase (transaction) date. When shares trade hands, they actually do so on the actual purchase date, even though the formal settlement date is typically delayed by a few days time.

For dividend purposes, the purchase date can make a difference. You must purchase  one day in advance of the ex-dividend date to receive the dividend payment in question.

As discussed above, the ex-dividend date determines whether it is the buyer or the seller who receives the dividend. Investors who purchase shares on or after the ex-dividend date will not be paid that quarter’s dividend.

Investors who purchase shares before the ex-dividend date will be paid that quarter’s dividend.

And finally, the payment date is the date the dividend payment is actually sent. Depending on the medium through which you own your shares, dividends may be mailed to you as a check, wired into your bank account, or deposited into your brokerage account as cash.

Dividend Declaration Date

The declaration date is the date on which the company’s Board of Directors announces the next dividend payment to shareholders. It is simply an announcement – no dividends are paid on the declaration date.

Generally, dividends are paid quarterly, so declaration dates are quarterly as well.

While dividends are in no way guaranteed, it is generally a goal of company management to grow their dividend payments over time.

This is a shareholder-friendly activity that is seen as a sign of underlying business strength, and is certainly discussed in great detail at Board of Directors meetings.

Companies will generally make it very clear when their dividends are announced via a press release on their Investor Relations website.

Record Date Versus Ex-Dividend Date

The record date and the ex-dividend date determine which shareholders are eligible to receive company dividends.

If shares trade hands in the time leading up to a dividend payment, these two dates determine whether it is the buyer or the seller who receives the dividend.

The record date is the date on which company management looks at their shareholder records to see who is eligible to receive the company’s future dividend payment.

However, this date is of little importance to investors. Buying the company’s stock on the record date does not mean that you will receive the company’s next dividend.

Practically speaking, the most important date for dividend investors to be aware of is the ex-dividend date. This date, which is the trading day before the record date, has much greater implications for portfolio management.

Investors who purchase shares on or after the ex-dividend date will not be paid that quarter’s dividend (although they will be entitled to future dividends, assuming they still hold the shares).

Investors who purchase shares before the ex-dividend date will be paid that quarter’s dividend.

Note: This invesor.gov page details the record date versus ex-dividend date.

The reason why the ex-dividend date is the trading day earlier than the record date is because it takes a day for a trade to ‘settle’ – for cash and shares to legally trade hands.

This seems counterintuitive–anyone who has placed trades before knows that cash is deposited to your account on the day that you sell shares.

Often, this is simply because your broker is willing to front you the money in advance while they wait to receive money from the counter-party. The actual process takes a day to complete.

This is why you must purchase in advance of the record date to receive the dividend payment in question.

The Payment Date

The payment date is the date on which corporate cash is actually paid to shareholder as a dividend. Depending on the medium through which you own your shares, dividends may be mailed to you as a check, wired into your bank account, or deposited into your brokerage account as cash.

Many companies also offer a Dividend ReInvestment Plan (or a DRIP, for short). These plans allow investors to use dividends to purchase more company shares.

You can view the 15 best DRIP stocks here (each of the stocks in that article charge no fees for their DRIPs).

Two Real-Life Examples of the Dividend Payment Process

Suppose an investor is looking to initiate a position in high-quality dividend growth stock AbbVie Inc. (ABBV), which is a member of the Dividend Aristocrats.

You can download an Excel spreadsheet with the full list of all Dividend Aristocrats (with additional financial metrics such as price-to-earnings ratios and dividend yields) by clicking the link below:

 

An investor purchasing the stock today would likely want to make sure he or she is eligible for the company’s next quarterly dividend payment. As such, investors need to purchase before the company’s ex-dividend date.

The easiest way to find this date is by looking directly on the company’s Investor Relations page, which can be easily found via a Google search.

Investors can see AbbVie’s dividend history in the Stock Information portion of its Investor Relations page.

There, investors will find that AbbVie has declared two dividend payouts of $1.64 per share so far this year, after paying out $6.20 per share in 2024.

Another example is consumer staples giant Procter & Gamble (PG), which has an even longer dividend history than AbbVie.

PG has paid dividends for 135 years, and has increased its dividend each year for the past 69 years in a row. PG is a Dividend Aristocrat, and a Dividend King as well.

PG has declared two dividends so far in 2025.

Final Thoughts

As investors, there are many other more important issues that we should be concerned with, instead of simply the timing that a specific company uses to pay its dividends.

On a company’s ex-dividend date, shares generally drop by an amount approximately equal to the company’s next dividend payment.

Investors wanting to ‘lock in’ the gain of that dividend, but who do not purchase before the ex-dividend date can still purchase shares on the ex-dividend date at a discount approximately equal to the dividend amount.

Because of this, there is no advantage to waiting to purchase shares.

Instead, focus on developing a long-term systematic investing plan that will be successful regardless of your timing of dividend payments.

Additionally, make sure a company’s dividend is sustainable for the long run. This requires a company to have durable competitive advantages, a steadily profitable business model even during recessions, and a positive growth outlook.

If you find a company that ranks favorably according to a proven system such as the Sure Analysis Research Database, buy some shares and focus on holding the stock over the long-term.

Other Dividend Lists

The Dividend Aristocrats and Dividend Kings lists are not the only way to quickly screen for stocks that regularly pay rising dividends.