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Russell Investments is a leading global investment solutions partner providing a wide range of investment capabilities to institutional investors, financial intermediaries, and individual investors around the world. Since 1936, Russell Investments has been building a legacy of continuous innovation to deliver exceptional value to clients, working every day to improve people’s financial security. The firm has US$331 billion in assets under management (as of 12/31/2024) for clients in 30 countries. Headquartered in Seattle, Washington, Russell Investments has offices in 17 cities around the world.
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The Charles Schwab Corporation (SCHW) Analyst/Investor Day Transcript
Company Participants
Jeff Edwards – MD & Head of Investor Relations
Richard Wurster – CEO, President & Director
Jon Beatty – MD & Head of Schwab Advisor Services
Jonathan Craig – MD, Head of Investor Service & Head of Retail Investing
James Kostulias – MD & Head of Trading Services
Adele Taylor – Managing Director & Head of Workplace Services
Stacy Hammond – MD & Chief Marketing Officer
Neesha Hathi – Managing Director & Head of Wealth & Advice Solutions
Andrew D’Anna – MD & Head of Schwab Investment Platforms, Solutions, and Strategy
Dennis Howard – MD and Chief Technology, Operations & Data Officer
Michael Verdeschi – MD & Chief Financial Officer
Conference Call Participants
Alexander Blostein – Goldman Sachs Group, Inc., Research Division
Steven Chubak – Wolfe Research, LLC
Brennan Hawken – BMO Capital Markets Equity Research
Benjamin Budish – Barclays Bank PLC, Research Division
David Smith – Truist Securities, Inc., Research Division
Devin Ryan – Citizens JMP Securities, LLC, Research Division
Michael Cyprys – Morgan Stanley, Research Division
Charles John Bendit – Rothschild & Co Redburn, Research Division
Michael Brown – UBS Investment Bank, Research Division
Kenneth Worthington – JPMorgan Chase & Co, Research Division
Christopher Allen – Keefe, Bruyette, & Woods, Inc., Research Division
Steven Wharton
Ritwik Roy – Jefferies LLC, Research Division
Brian Bedell – Deutsche Bank AG, Research Division
Jacquelyne Cavanaugh – Putnam Investment Management, LLC
Conversation
Jeff Edwards
MD & Head of Investor Relations
Thank you so much. Thank you so much. The warm welcome was very much unexpected from the crowd this early in the morning. But we appreciate everyone joining us on the webcast and especially those here in the room that have made the trip to Westlake. It’s very exciting to have everyone here for the 2026 Edition of Schwab’s Institutional
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Bitcoin slips towards $79K as higher Treasury yields and oil prices pressure trigger risk-off sentiment
In the past 24 hours, Bitcoin slipped 2% and Ethereum fell 1% to trade at $2,217 mark. Among the major altcoins, BNB, XRP, Solana, Tron, Dogecoin, Hyperliquid, and Cardano slipped up to 8%. The global crypto market capitalisation edged down 2% to $2.63 trillion, according to CoinMarketCap.
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Riya Sehgal, Research Analyst, Delta Exchange said that Bitcoin’s latest pullback appears to be part of a broader macro-led risk-off move. Technically, Bitcoin has again failed to build acceptance above the $82,000–$82,500 resistance band, which remains the key ceiling for momentum traders.
Sehgal also said that as long as Bitcoin holds this region, the market can still treat the move as consolidation after a recovery; however, a clean break below $78,500 may expose the 200-EMA region near $77,800 and overall, crypto markets need confirmation from ETF flows, macro liquidity, yields and on-chain holder behaviour before the next directional trend becomes clearer.
According to the data by CoinMarketCap, in the past week, Bitcoin fell 2% whereas Ethereum fell 4%. Among the major altcoins, XRP, Solana, Tron, Hyperliquid and Cardano went down up to 7% whereas BNB was up 2%.
WazirX Market Desk said that Bitcoin traded mostly around the $79,000-$81,000 range this week, with sentiment staying constructive despite short-term volatility and RSI readings remained largely in the mid-50s to low-60s, indicating steady demand, while Ethereum held firm near $2,250-$2,345 with longer-term signals staying supportive.
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Institutional activity continued to support confidence, with Bitcoin ETFs seeing strong inflows, regulatory optimism also improved after the U.S. Senate Banking Committee advanced the Clarity Act, WazirX Market Desk further said.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
If you have any mutual fund queries, message on ET Mutual Funds on Facebook/Twitter. We will get it answered by our panel of experts. Do share your questions on ETMFqueries@timesinternet.in along with your age, risk profile, and Twitter handle.
Business
10 Best ASX 200 Stocks to Buy in 2026 as Mining Boom and Rate Cuts Beckon
SYDNEY — Australian investors hunting for opportunities in the ASX 200 this year are being urged to focus on a mix of resource giants, resilient banks, healthcare leaders and technology plays as the index eyes fresh records amid recovering commodity prices, expected interest rate relief and steady economic growth.
The benchmark S&P/ASX 200 has shown resilience in 2026 despite global headwinds, supported by strong iron ore and copper demand from China and domestic policy measures aimed at easing cost-of-living pressures. Analysts forecast the index could test 9,000 points by year-end, driven by improving corporate earnings and attractive dividend yields that remain competitive globally.
Here are 10 standout ASX 200 stocks recommended by strategists for 2026, chosen for their growth potential, income reliability and defensive qualities in an uncertain environment.
1. BHP Group (BHP)
The mining behemoth remains a cornerstone pick. Strong iron ore and copper prices, coupled with its diversified portfolio, position BHP for robust cash flows. Analysts highlight its exposure to the green energy transition through copper and nickel, with attractive dividend yields expected to continue.
2. Commonwealth Bank of Australia (CBA)
Australia’s largest bank benefits from a stabilising housing market and potential rate cuts later in the year. Solid net interest margins and wealth management growth make it a reliable income generator with defensive qualities.
3. Wesfarmers (WES)
The diversified conglomerate, home to Bunnings and Kmart, offers resilience through everyday consumer staples. Its industrial and chemical divisions provide additional earnings diversity in a shifting economy.
4. CSL Limited (CSL)
The biotechnology leader continues expanding globally with strong demand for plasma products and vaccines. Its pipeline of innovative treatments supports long-term growth, making it a favourite among growth-oriented investors.
5. Macquarie Group (MQG)
The investment bank’s global infrastructure and commodities focus aligns well with 2026 themes. Strong performance in green energy and resources banking should drive earnings, while its annuity-style businesses provide stability.
6. Rio Tinto (RIO)
Another mining major with significant iron ore exposure. Rio’s operational efficiency and commitment to low-carbon initiatives position it favourably as global decarbonisation accelerates.
7. Telstra (TLS)
The telecom giant offers defensive income through its reliable dividends and 5G rollout. Expanding into data and digital services provides growth avenues beyond traditional mobile revenue.
8. NEXTDC (NXT)
The data centre operator is well-placed for the AI boom. Surging demand for computing power from hyperscalers and local enterprises supports strong revenue growth projections for the coming years.
9. Aristocrat Leisure (ALL)
The gaming and entertainment company benefits from resilient consumer spending on experiences. Its global portfolio and digital transformation efforts make it a consistent performer.
10. Woodside Energy (WDS)
The energy producer offers exposure to LNG demand in Asia. While transitioning toward renewables, its conventional assets provide strong near-term cash flows and attractive yields.
Why These Stocks Stand Out in 2026
These selections balance cyclical strength with defensive qualities. Mining names like BHP and Rio Tinto capitalise on commodity tailwinds, while banks and Telstra provide income stability. Healthcare and technology plays such as CSL and NEXTDC tap into structural growth themes including an ageing population and digital transformation.
Valuations across the ASX 200 remain reasonable compared to global peers, with many stocks trading on forward price-to-earnings multiples below long-term averages. Dividend yields averaging around 4 percent add appeal for income-focused investors in a still uncertain global environment.
Risks Investors Should Consider
Commodity price volatility remains a key risk for resource stocks, while banks face margin pressure if rate cuts are delayed. Geopolitical tensions, including developments in the Middle East, could influence energy prices and inflation. Domestic factors such as housing affordability and consumer spending will also shape performance.
Analysts recommend diversification and a long-term horizon. While individual stocks may face short-term headwinds, the selected names have strong fundamentals and management teams capable of navigating challenges.
Market Outlook for the Year Ahead
Economists forecast moderate Australian GDP growth supported by lower interest rates and government spending. The RBA is expected to ease policy gradually, providing relief for rate-sensitive sectors. Corporate earnings are projected to grow mid-single digits, with resources and financials leading the way.
The ASX 200’s performance will hinge on global risk appetite, particularly U.S.-China relations and commodity demand from Asia. Positive developments in those areas could drive the index toward new highs.
For retail investors, exchange-traded funds tracking the ASX 200 offer broad exposure, while individual names suit those willing to conduct deeper research. Professional advice is recommended, as past performance does not guarantee future results.
The 2026 investment landscape offers compelling opportunities for those positioned across quality ASX 200 companies. Whether seeking growth, income or stability, the selected stocks represent a cross-section of Australia’s economic strengths and structural tailwinds. As always, thorough due diligence and a disciplined approach remain essential for success in equity markets.
Business
Trump Praises US-Nigerian Forces for Killing Senior ISIS Commander in Africa
WASHINGTON — President Donald Trump announced Thursday that U.S. and Nigerian special forces conducted a successful joint operation that killed a senior ISIS commander in West Africa, describing the raid as a significant blow to the terrorist organization’s operations in the region.
The operation, which took place in the dense forests of northeastern Nigeria, targeted Abu Musab al-Barnawi, a high-ranking leader of the Islamic State West Africa Province (ISWAP), an ISIS affiliate responsible for numerous attacks across the Sahel region. Trump, speaking from the White House, called the mission “a tremendous success” and praised the coordination between American and Nigerian troops.
“We just took out a very big leader of ISIS. This is a major win for the United States, for Nigeria, and for the world,” Trump said. “Our military is the strongest and most powerful anywhere, and we will continue to hunt down these terrorists wherever they hide.”
U.S. defense officials confirmed that the raid was carried out by a joint task force involving elite U.S. special operations units and Nigerian military forces. The operation was supported by intelligence from multiple agencies, including the CIA and Nigerian security services. No U.S. personnel were injured, according to preliminary reports.
Details of the Operation
The strike occurred in Borno State, a longtime stronghold for Islamist militants. Intelligence indicated al-Barnawi was meeting with other commanders to plan attacks on civilian targets and Nigerian military outposts. U.S. drones provided real-time surveillance as ground forces moved in under cover of darkness.
According to a senior U.S. defense official who spoke on condition of anonymity, the operation lasted less than 45 minutes. Al-Barnawi was killed in the initial exchange of fire, along with several of his bodyguards. A small number of documents and electronic devices were recovered from the site for further analysis.
Nigerian President Bola Tinubu welcomed the success of the mission in a statement released by his office. “This joint operation demonstrates the strength of our partnership with the United States in the fight against terrorism,” Tinubu said. “We will continue to work together to secure our borders and protect our citizens.”
ISIS West Africa Province Context
ISWAP has become one of the most dangerous ISIS affiliates in Africa, carrying out frequent attacks on military bases, villages and infrastructure in Nigeria, Niger and Cameroon. The group has exploited regional instability, poverty and weak governance to recruit fighters and expand its influence.
Al-Barnawi, sometimes referred to as Abu Abdullah, was considered a key operational planner and a successor figure to earlier ISWAP leaders. His death is expected to disrupt the group’s command structure, at least in the short term, though experts caution that ISIS affiliates have shown resilience in replacing fallen commanders.
U.S. Africa Command (AFRICOM) has increased its support for regional partners in recent years, providing training, intelligence and occasional direct action against terrorist targets. Thursday’s operation fits into a broader strategy of working “by, with and through” local forces while limiting the U.S. footprint on the ground.
Trump’s National Security Approach
The announcement aligns with Trump’s long-standing emphasis on aggressive counterterrorism operations and partnerships with allies willing to combat extremism. During his first term, Trump authorized several high-profile raids against ISIS leaders, including the operation that killed Abu Bakr al-Baghdadi in Syria.
White House officials framed the Nigeria strike as evidence that the current administration is delivering on promises to keep Americans safe and pressure terrorist networks globally. National Security Advisor Mike Waltz called the mission “a textbook example of effective international cooperation.”
Democrats offered measured praise for the operation’s success while questioning the broader strategy. Some lawmakers called for greater transparency regarding U.S. military involvement in Africa and potential risks to American personnel.
Reactions and Global Implications
The news was welcomed by regional governments battling Islamist insurgencies. Chad, Niger and Cameroon, which have all suffered ISWAP attacks, expressed support for continued U.S. engagement in the fight.
Counterterrorism experts noted that while removing a senior figure like al-Barnawi is a tactical victory, the underlying conditions that fuel extremism — poverty, corruption and ethnic tensions — remain largely unaddressed. Sustainable progress will require not only military pressure but also governance reforms and economic development.
Social media reaction was swift and largely positive in the United States, with many users praising the operation and Trump’s quick announcement. The story quickly went viral, with hashtags like #ISISLeaderDown and #USNigeriaStrike trending throughout the day.
Ongoing Threats in the Sahel
Despite the success, security analysts warn that ISIS affiliates in Africa continue to pose serious threats. The group has expanded its operations in the Sahel, exploiting coups and political instability in countries like Mali, Burkina Faso and Niger. Recent attacks have targeted civilians, mining operations and international peacekeepers.
U.S. officials say operations like Thursday’s are part of a sustained campaign to degrade terrorist capabilities rather than a one-off event. AFRICOM conducts hundreds of training exercises and intelligence-sharing missions annually with African partners.
The death of al-Barnawi may lead to internal power struggles within ISWAP, potentially creating opportunities for further strikes. However, it could also trigger retaliatory attacks as the group seeks to demonstrate continued strength.
Looking Ahead
President Trump is expected to provide more details about the operation in the coming days. Pentagon officials said they are continuing to assess the intelligence recovered from the site and monitoring ISWAP for signs of reorganization.
For the families of victims of ISWAP violence across West Africa, the news brings a measure of justice, though the fight against the group is far from over. Nigerian authorities have increased security around vulnerable communities in the northeast following the raid.
The successful operation highlights the value of international partnerships in counterterrorism. As threats evolve and spread across borders, coordinated action between the United States and African nations will remain essential in the ongoing battle against ISIS and its affiliates.
Thursday’s strike serves as a reminder of both the progress being made and the persistent dangers that remain. While one senior commander has been removed, the ideology and networks that sustain such groups continue to challenge regional and global security. The United States and its partners have signaled they will maintain pressure until the threat is decisively diminished.
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