VanEck is a global asset management firm offering ETFs, mutual funds, private funds, model portfolios, institutional strategies, separately managed accounts, as well as UCITS funds. Since our founding in 1955, putting our clients’ interests first, in all market environments, has been at the heart of the firm’s mission. VanEck has a long history of looking beyond financial markets to spot trends that create meaningful investment opportunities. We were one of the first U.S. asset managers to give investors access to international markets, which set the tone for identifying asset classes and themes such as gold investing in 1968, emerging markets in 1993, and exchange traded funds in 2006 that later helped shape the investment industry. The firm oversees $161.7 billion in assets as of September 30, 2025. Disclosures: http://ow.ly/SZ9450N5qTJ.

VanEck is a global asset management firm offering ETFs, mutual funds, private funds, model portfolios, institutional strategies, separately managed accounts, as well as UCITS funds. Since our founding in 1955, putting our clients’ interests first, in all market environments, has been at the heart of the firm’s mission. VanEck has a long history of looking beyond financial markets to spot trends that create meaningful investment opportunities. We were one of the first U.S. asset managers to give investors access to international markets, which set the tone for identifying asset classes and themes such as gold investing in 1968, emerging markets in 1993, and exchange traded funds in 2006 that later helped shape the investment industry. The firm oversees $161.7 billion in assets as of September 30, 2025. Disclosures: http://ow.ly/SZ9450N5qTJ.

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Big banks and tech names kick off earnings season this week. (0:17) Trump orders U.S. to block Strait of Hormuz shipping traffic. (1:13) Fed Beige Book and speakers guide rate outlook this week. (2:00)

The following is an abridged transcript:

It’s that time again when “per share” echoes across Wall Street.

Earnings season begins this week with the big banks, alongside a couple of major tech names.

Goldman Sachs (GS) kicks things off Monday. Tuesday brings JPMorgan Chase (JPM), Wells Fargo (WFC), Citigroup (C) and BlackRock (BLK). Bank of America (BAC) and Morgan Stanley (MS) follow Wednesday. Later in the week, results from Taiwan Semiconductor (TSM), Netflix (NFLX) and PepsiCo (PEP) will offer insight into global demand, tech spending and consumer trends.

Netflix reports Thursday, with analysts expecting EPS of $0.77 on revenue just above $12B.

With the Warner Bros. (WBD) acquisition saga behind it, focus has shifted back to core growth drivers: advertising, content and engagement. Ad revenue will hinge in part on traction in live sports, while the company’s recent subscription price increases will be closely watched for signals on pricing power and capital allocation.

Also on the calendar: Johnson & Johnson (JNJ) reports Tuesday and ASML (ASML) on Wednesday.

In geopolitics this weekend, President Donald Trump said the U.S. would move to block maritime traffic through the Strait of Hormuz after negotiations with Iran collapsed in Islamabad.

In a post, Trump said the Navy would begin efforts to stop vessels from entering or leaving the key shipping lane, framing the move as a response to escalating tensions.

The announcement followed the breakdown of marathon talks involving Vice President JD Vance and envoys Steve Witkoff and Jared Kushner, who spent nearly a full day negotiating with senior Iranian officials.

The discussions, brokered by Pakistan, were aimed at ending a six-week conflict but failed to produce an agreement, leaving a fragile ceasefire in doubt.

Iranian officials said U.S. demands were too steep, though the foreign ministry signaled further talks remain possible, noting that major disputes are unlikely to be resolved in a single round.

On the economic front, the Federal Reserve’s Beige Book on Wednesday will offer a fresh snapshot of economic conditions, while a steady lineup of Fed speakers could help shape rate expectations.

Wells Fargo economists highlight New York Fed President John Williams on Thursday and Governor Christopher Waller as the key voices to watch.

“We consider Williams a good proxy for the more academically minded members of the Fed,” they wrote. “He doesn’t usually shock markets, but his comments will be closely scrutinized for signals on a higher-for-longer stance versus the timing of potential cuts.”

“Waller, on the other hand, isn’t shy about changing his mind publicly,” they added. “He dissented in favor of a cut at the meeting prior to the most recent one and has emphasized data dependence — a willingness to hold rates if the data firm, while remaining opposed to hikes.”

And for income investors, Abbott Laboratories (ABT) and AbbVie (ABBV) go ex-dividend on Wednesday, with payouts scheduled for May 15.

Johnson Outdoors (JOUT) goes ex-dividend Thursday and pays out on April 30.

Acuity Brands (AYI) goes ex-dividend Friday, with a May Day payout.

HOUSTON — Phil Garner, the gritty three-time All-Star infielder nicknamed “Scrap Iron” for his hard-nosed style and the manager who guided the Houston Astros to their first World Series appearance in 2005, died Saturday after a two-plus-year battle with pancreatic cancer. He was 76.

Garner passed away peacefully on April 11, 2026, surrounded by family, his relatives said in a statement released Sunday. “Phil never lost his signature spark of life he was so well-known for or his love for baseball, which was with him until the end,” his son Ty Garner said.

The Milwaukee Brewers, one of the teams Garner managed for eight seasons, confirmed the news and expressed sadness over the loss of a beloved figure in the game. Tributes poured in from across Major League Baseball, with the Baseball Hall of Fame, Pittsburgh Pirates and Houston Astros all honoring the Tennessee native who embodied blue-collar determination on the field and in the dugout for more than three decades.

Born Philip Mason Garner on April 30, 1949, in Jefferson City, Tennessee, he grew up in nearby Rutledge and later attended the University of Tennessee. Drafted by the Oakland Athletics in 1971, Garner broke into the majors in 1973 and quickly earned a reputation as a versatile, dependable infielder who could play second base, third base and shortstop.

His playing career spanned 16 seasons with five teams: the Athletics (1973-76), Pittsburgh Pirates (1977-81), Houston Astros (1981-87), Los Angeles Dodgers (1987) and San Francisco Giants (1988). He earned All-Star selections in 1976 with Oakland, and in 1980 and 1981 with Pittsburgh. Garner’s finest moment as a player came in the 1979 World Series, when the Pirates defeated the Baltimore Orioles. He hit a sizzling .500 (12-for-24) in the Fall Classic, providing key hits for the “We Are Family” Pirates squad led by Willie Stargell.

Hall of Fame broadcaster Milo Hamilton bestowed the enduring nickname “Scrap Iron” on Garner during his time with the Pirates, praising his toughness and willingness to battle every pitch and every play. Teammates and opponents alike respected his intensity. In an era of larger-than-life stars, Garner stood out for his hustle, defensive reliability and clutch contributions rather than gaudy power numbers.

After retiring as a player following the 1988 season, Garner transitioned seamlessly into coaching and managing. He began his managerial career in the minor leagues before getting his first big-league opportunity with the Milwaukee Brewers in 1992. Over eight seasons in Milwaukee (1992-99), he compiled a 563-617 record. His 1992 squad finished second in the American League East, earning Garner runner-up honors for AL Manager of the Year. Brewers fans remembered him fondly as a hard-nosed skipper who connected with players and the community.

Garner next managed the Detroit Tigers from 2000 to 2002, overseeing the team’s transition into the newly opened Comerica Park. His tenure included some rebuilding years, but he remained known for demanding accountability and fostering competitiveness.

His most celebrated managerial achievement came with the Houston Astros. Hired as manager on an interim basis in July 2004, Garner quickly stabilized a talented but underachieving club. In 2005, he led the Astros to a National League Central title and, more importantly, the franchise’s first-ever pennant. Houston defeated the St. Louis Cardinals in the NL Championship Series before falling to the Chicago White Sox in the World Series. The run electrified the city and marked a turning point for a franchise long seeking October glory.

Garner managed the Astros through part of the 2007 season, finishing with a 277-252 record in Houston. Overall, his 15-year managerial career produced a 985-1054 record (.483 winning percentage) and one National League pennant. He was known for his straightforward communication, emphasis on fundamentals and ability to get the most out of veteran rosters.

Former players and colleagues described Garner as a man who bridged generations. Astros greats from the 2005 team recalled his calm leadership during the pressure-packed playoff push. Pirates teammates from the 1979 championship season praised his clubhouse presence and work ethic. Even in retirement, Garner stayed connected to the game, occasionally throwing out first pitches and offering insights on broadcasts.

The battle with pancreatic cancer, diagnosed more than two years ago, tested Garner’s characteristic resilience. Family members said he faced the illness with the same determination that defined his baseball career, maintaining his love for the sport and spending cherished time with loved ones. In April 2025, he threw out a ceremonial first pitch at Minute Maid Park, drawing warm applause from Astros fans who remembered his pivotal role in the franchise’s history.

MLB Commissioner Rob Manfred issued a statement Sunday expressing condolences. “Phil Garner was a fierce competitor as a player and a respected leader as a manager. His contributions to our game, from World Series heroics to guiding the Astros to new heights, left an indelible mark. We send our deepest sympathies to his family, friends and the many fans who admired his grit.”

The Pittsburgh Pirates, where Garner won his only World Series ring as a player, remembered him as “a key member of our 1979 championship team whose passion and toughness inspired teammates.” The Brewers highlighted his eight seasons at the helm and the lasting relationships he built in Milwaukee. The Tigers noted his role during an important era in franchise history.

Garner is survived by his wife, children and grandchildren. Funeral arrangements were pending, with the family requesting privacy during this difficult time while expressing gratitude for the outpouring of support from the baseball community.

In an era when analytics increasingly dominate baseball decisions, Garner represented an old-school ethos — a player and manager who valued heart, preparation and playing the game the right way. His journey from small-town Tennessee to All-Star status, World Series champion and history-making manager served as an inspiration for countless young athletes who saw in him proof that determination and hustle could overcome natural talent gaps.

Tributes on social media and in clubhouses Sunday reflected the respect he earned across decades. Former players shared stories of Garner’s fiery competitiveness tempered by genuine care for those around him. One Astros coach recalled how Garner’s straightforward style helped young stars navigate the pressures of a pennant race.

Though he never won a World Series as a manager, Garner’s 2005 Astros team remains a milestone in Houston sports lore. The club would later win its first championship in 2017 under different leadership, but fans and historians credit Garner with laying groundwork for sustained success and breaking the franchise’s long-standing October barrier.

As baseball mourns the loss of one of its steadier hands, Garner’s legacy endures in the stories of clutch hits, diving stops and dugout exhortations that defined a life devoted to the game. From the green fields of Tennessee to the bright lights of multiple World Series, “Scrap Iron” left the diamond stronger for having played it.

Friends and family remembered not only the baseball man but the devoted husband, father and grandfather whose spark remained undimmed even in his final days. In the words of his son, that love for baseball — and for life — accompanied him to the end.

The baseball world paused Sunday to honor a player who gave everything on every play and a manager who guided teams through transition and triumph. Phil Garner’s 76 years were marked by resilience, achievement and an unyielding competitive fire that earned him a permanent place in the hearts of fans across multiple cities.

The iconic green jacket still defines the Masters — but the prize money has never been greater.

This year’s winner will take home a record $4.5 million, a payday that separates sharply from the rest of the field.

On Saturday, the Masters announced a total purse of $22.5 million—an increase of $1.5 million from last year and up $7.5 million from 2022, when American Scottie Scheffler won.

More than $17 million of this year’s total will go to the top 15 finishers, with payouts dropping sharply down the leader board. 

RORY MCILROY’S MONSTROUS LEAD DISAPPEARS, SURPRISE CONTENDER SURGES AS MASTERS COMES DOWN TO THE FINAL DAY

Second place will earn just over $2.4 million, while third takes home a little more than $1.5 million. Even the golfer who finishes 50th will earn $56,700.

Players who make the cut but finish outside the top 50 will earn at least $55,250, with payouts decreasing from there, while those who miss the cut will still take home $25,000.

That scale underscores just how dramatically the Masters champion’s payday has grown: Horton Smith earned $1,500 for winning the inaugural tournament in 1934, compared to Rory McIlroy’s $4.2 million in 2025.

HOW THE 3,267TH-RANKED AMATEUR GOLFER, A REAL ESTATE AGENT, GOT TO PLAY ALONGSIDE LEGENDS AT THE MASTERS

Rory McIlroy victorious during the green jacket ceremony after winning the sudden death playoff round to win the tournament at Augusta National in 2025. (Erick W. Rasco/Sports Illustrated via Getty Images / Getty Images)

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And in a tradition unlike any other, players at Augusta National don’t know the prize money they’re competing for when they tee off; the club waits until after the 36-hole cut to announce the payouts.

VanEck is a global asset management firm offering ETFs, mutual funds, private funds, model portfolios, institutional strategies, separately managed accounts, as well as UCITS funds. Since our founding in 1955, putting our clients’ interests first, in all market environments, has been at the heart of the firm’s mission. VanEck has a long history of looking beyond financial markets to spot trends that create meaningful investment opportunities. We were one of the first U.S. asset managers to give investors access to international markets, which set the tone for identifying asset classes and themes such as gold investing in 1968, emerging markets in 1993, and exchange traded funds in 2006 that later helped shape the investment industry. The firm oversees $161.7 billion in assets as of September 30, 2025. Disclosures: http://ow.ly/SZ9450N5qTJ.