With geopolitical tensions easing and crude oil prices retreating to pre-war levels, investors are shifting their attention to the upcoming earnings season for the next market trigger. The June quarter results are expected to provide clarity on whether Indian companies can navigate input cost pressures while sustaining growth.

Speaking to ET Now, Pankaj Tibrewal from IKIGAI Asset said the investment environment has steadily improved over the past few months as several earlier headwinds have started turning into positives.

“We have been constructive since March. Crude prices have returned to pre-war levels, and the AI-led markets have seen a significant shakeout. The next big trigger for markets will be the first-quarter earnings,” he said.

Revenue Growth May Beat Expectations

While the Street remains cautious about margins because of elevated raw material costs, Tibrewal believes analysts are underestimating the potential for stronger revenue growth across Corporate India.

“The biggest disconnect is top-line growth. Many companies have already taken price hikes, and revenues could surprise positively, even if margins remain under pressure,” he said.
He expects operating leverage to cushion part of the margin impact and support earnings in several sectors.
Home Improvement Sector in Focus
Tibrewal identified the home improvement segment as one of the strongest opportunities, citing favourable industry dynamics in tiles and wood panels.

“Branded tile players are gaining market share as Morbi manufacturers struggle with higher gas costs. Dealer feedback points to a significant pickup in volumes,” he said.

He also expects strong performance from wood panel companies and sectors benefiting from import substitution.

“Chinese imports have reduced sharply in segments like MDF, while chemicals, textiles, engineering and auto ancillaries are also seeing improving momentum,” he said.

A Stock Picker’s Market
Rather than expecting gains across the board, Tibrewal believes investors should focus on businesses with strong earnings visibility. “This is a stock picker’s market. The opportunity lies in identifying sectors and companies where growth is clearly visible,” he said.

Nifty Earnings Growth Seen at 10–13%
Despite near-term cost pressures, Tibrewal expects double-digit earnings growth for the benchmark index this year, supported by banks and cyclical sectors.

“I do not think 10% to 13% Nifty earnings growth will be a challenge. Banking, metals and cement should all contribute meaningfully,” he said.

He also expects nominal GDP growth to drive stronger corporate revenues.

“Corporate India’s top-line growth should improve as nominal GDP remains healthy, and operating leverage will support earnings,” he said.

Demand Remains Healthy
According to Tibrewal, companies are no longer worried about weak demand despite higher prices. “Companies are not talking about demand destruction. The key challenges are supply chains and raw material costs, while demand remains reasonably good,” he said.

He remains particularly optimistic about the broader market.

“Many companies can compound earnings at 20% to 25% annually. That is where the best bottom-up opportunities lie,” he said.

Private Banks Offer a Contrarian Bet
Although foreign investor selling has weighed on banking stocks, Tibrewal believes the sector’s fundamentals remain among the strongest in years.

“Private banks are very attractively valued. The challenge is technical because FIIs have been persistent sellers,” he said.

He expects sentiment to improve once foreign selling subsides.

“Bank balance sheets are in the best shape they have been in for years. Once FII selling stops, banking stocks could quickly return to favour,” he said.

FII Flows Could Return
Tibrewal believes India could benefit if global investors rotate away from overheated AI-driven markets.

“I am hopeful FIIs will return in the second half of the fiscal year. India looks attractive in dollar terms, while the AI trade globally appears to be entering a mature stage,” he said.

With earnings season approaching, investors will closely watch whether stronger revenue growth and resilient demand can offset cost pressures and provide the next leg of the market’s rally.

This article was written by

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Americans preparing to hold a Fourth of July barbecue this weekend will face higher costs for their burgers and hot dogs amid stubborn inflation, a new report finds.

The American Farm Bureau Federation’s Summer Cookout Cost Survey finds that in 2026, a classic Fourth of July cookout for 10 people will cost $73.82, or about $7.38 per person. That amounts to an increase of $2.90, or 4% compared with a year ago.

The basket of goods used to measure the cost year to year includes cheeseburgers, chicken breasts, pork chops, potato chips, pork and beans, fresh strawberries, ingredients for homemade potato salad and fresh-squeezed lemonade, as well as chocolate chip cookies and ice cream.

“While this year’s total is the highest since Farm Bureau began conducting the summer cookout survey in 2016, the increase closely reflects broader inflation,” the group wrote.

INFLATION ROSE AGAIN IN MAY AS ELEVATED ENERGY PRICES SQUEEZE CONSUMERS

“The cost of the cookout basket rose about 4%, while overall inflation in the United States increased 4.2% over the 12 months ending in May,” the Farm Bureau said. “That means families are seeing higher prices at the grocery store, but this year’s cookout cost is generally moving in line with the broader economy.”

The report noted that the cost of the basket is little changed from a year ago when deflating the value using the consumer price index (CPI) inflation metric, with the cost of this year’s basket at $22.03 in 1982-84 dollars, slightly lower than the $22.06 observation using last year’s data.

That means that “while families are paying more dollars at checkout, the purchasing-power cost of the basket is nearly flat from last year,” the Farm Bureau added.

Among the food items in the basket, the report noted that several of the main proteins cost more as the two pounds of ground beef are up 5.5% to $14.06, which is the highest beef price recorded in the survey’s history. Drought has caused the size of the national cattle herd to trend to a 70-year low, while ranchers also face higher operating costs.

SUMMER STICKER SHOCK: THE 14% ‘BURGER TAX’ HITTING YOUR BACKYARD BBQ THIS WEEKEND

Chicken breasts are also 3.5% more expensive than last year, with two pounds now costing $8.06. Pork chop costs also rose 4.7% to $14.79 for three pounds, though they remain below the 2024 price despite this year’s rise.

Strawberries had some of the largest price increases in the basket of goods, with two pints costing $5.27, an increase of 12.4% from last year. The Farm Bureau attributed part of that to a damaging frost in Florida that impacted young plants this spring, as well as higher costs of labor, fuel, refrigeration and transportation.

Lemonade costs have risen 3.9% in the last year to $4.54 for 2.5 quarts, mainly due to the rise in the price of lemons, given sugar prices holding steady.

The largest increase of any item in the basket was pork and beans, which rose 13.8% to $3.06 for 32 ounces. The Farm Bureau noted higher aluminum costs contributed to the rise.

BANK OF AMERICA CARDHOLDERS CAN VISIT 250 MUSEUMS FREE DURING JULY 4 WEEKEND

Desserts were also more expensive than a year ago. The price of a pack of chocolate chip cookies rose 6.3% to $4.25, while a half-gallon of ice cream rose 5.3% to $5.99 from a year ago.

Two items tracked by the Farm Bureau declined in price, with potato salad dropping 17.8% from a year ago to $2.91 amid the decline in egg prices with the recovery of egg-laying flocks from an avian flu outbreak.

Potato prices have also contributed to a decline in both the cost of potato salad and bags of potato chips, which are down 0.8% from a year ago to $4.76 apiece.

The Farm Bureau’s analysis also noted that the cookout cost varies by region, with Americans in the West facing the highest cost at an even $80 this year, a figure which is $6 above the national average.

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The other three regions in the analysis were below the national average of $73.82, with the Northeast the cheapest at $71.35, followed by the Midwest at $71.45 and the South at $72.08.

NBA free agency officially opens Tuesday at 6 p.m. ET, but the league’s rumor mill has already produced one of the more chaotic offseason stretches in recent memory, with several stars potentially on the move just as front offices begin negotiating in earnest. Here’s a look at five of the biggest trade rumors currently swirling around the league.

1. Kawhi Leonard and the Clippers appear headed toward a split, with Toronto emerging as the most realistic destination. According to ESPN’s Shams Charania, the Los Angeles Clippers and Toronto Raptors are “seriously engaged” in trade discussions involving the two-time Finals MVP, who turned 35 on Monday and is entering the final year of his contract at $50.3 million. Charania has reported that the Raptors, who Leonard led to an NBA championship in 2019, represent the only team outside the Los Angeles market that Leonard is currently willing to sign a long-term extension with, a detail that has significantly narrowed the realistic trade landscape and intensified momentum behind a potential reunion. Adding another layer to the situation, the Clippers themselves have reportedly expressed interest in acquiring Boston’s Jaylen Brown if a deal involving Leonard comes together, suggesting the team could attempt to pivot toward a different star rather than simply rebuilding around its existing core.

2. Jaylen Brown’s name continues to surface across multiple trade scenarios, with Denver among the most aggressive suitors. Brown has remained one of the most frequently mentioned names on the trade market throughout the early offseason, with several teams expressing interest in prying him away from Boston. According to NBA insider Chris Haynes, the Denver Nuggets have “deep interest” in trading for Brown, while podcast host Bill Simmons has floated a more elaborate scenario involving a Celtics-Nuggets swap that would also include Jamal Murray and other pieces, though ESPN’s Zach Lowe has expressed skepticism that such a deal is realistic in its current form. The Clippers’ interest in Brown, contingent on moving Leonard, adds yet another team to a crowded field of suitors circling the All-Star wing as Boston weighs its long-term roster direction.

3. Anthony Davis remains at the center of speculation involving the Golden State Warriors’ aggressive pursuit of LeBron James. Yahoo Sports’ Kevin O’Connor reported that the Warriors are exploring a trade for Washington Wizards center Anthony Davis as part of a broader strategy aimed at convincing LeBron James to leave the Los Angeles Lakers in free agency. Any deal for Davis would reportedly require Golden State to include injured star Jimmy Butler, who has indicated he would like to retire as a member of the Warriors, along with significant draft capital. Davis’ actual future with Washington remains uncertain even amid the rumors, with Wizards officials previously stating publicly that they want to retain him and plan to discuss a contract extension once he becomes eligible in August. The Warriors created additional flexibility to pursue this plan when Draymond Green declined his player option Monday, a move ESPN’s Shams Charania confirmed was directly tied to the team’s pursuit of both James and Davis.

4. The Ja Morant blockbuster has already reshaped the trade landscape, with speculation now turning to what comes next for Portland. The Memphis Grizzlies traded two-time All-Star Ja Morant to the Portland Trail Blazers on Monday in exchange for Jerami Grant and Kris Murray, with no draft picks changing hands in the deal. The trade has fueled immediate speculation about Portland’s next move, with some analysts wondering whether the Trail Blazers might still pursue an additional blockbuster, potentially involving Jaylen Brown, given the team’s apparent willingness to make aggressive roster swings this offseason. Betting markets have largely shrugged off the Morant trade as a needle-mover for Portland’s title odds in the near term, with the team still priced near the back of the league’s championship contenders, suggesting oddsmakers view the move as more of a talent gamble than an immediate competitive breakthrough.

5. Jalen Duren and Domantas Sabonis are reportedly eyeing a potential trade that would essentially swap their current situations. According to Sam Amick, restricted free agent center Jalen Duren has expressed interest in joining the Sacramento Kings, while Domantas Sabonis has reportedly expressed a desire to play for the Detroit Pistons, raising the possibility of some form of sign-and-trade swap between the two teams. Chris Haynes has separately reported that the Kings are actively pursuing a sign-and-trade scenario for Duren with the Pistons, who currently hold his restricted free agency rights, adding momentum to speculation that the two big men could effectively change places this offseason as both teams look to retool their frontcourt depth ahead of the 2026-27 season.

Beyond these five storylines, the offseason has already produced significant activity even before free agency formally begins. Giannis Antetokounmpo’s trade to the Miami Heat was finalized the day before the NBA Draft, kicking off a cascade of subsequent moves, including the Detroit Pistons trading Isaiah Stewart to Memphis and the Charlotte Hornets sending LaMelo Ball to the Minnesota Timberwolves. Several notable veterans have also already committed to returning to their current teams, including Trae Young, Austin Reaves, and Kristaps Porziņģis, who is finalizing a two-year, $40 million deal to remain with Golden State.

With the formal negotiation window opening Tuesday evening, league insiders expect the pace of rumors and reported agreements to accelerate considerably over the coming days, particularly around LeBron James’ still-unresolved future with the Lakers, a decision that could ripple outward and influence how several of the trade scenarios above, including the Warriors’ pursuit of both James and Davis, ultimately play out. For now, with Leonard, Brown, Davis and James all hanging in the balance, the league appears headed into one of its more unpredictable offseason stretches in years, with several marquee names still genuinely uncertain about where they’ll be playing once training camps open in the fall.

SAN FRANCISCO — The Golden State Warriors have agreed to a two-year, $40 million contract extension with center Kristaps Porzingis, keeping the 7-foot-2 Latvian big man off the free-agent market and in the Bay Area through the 2027-28 season, according to multiple reports.

The deal, which includes a player option for the second year, was first reported Monday night by ESPN’s Shams Charania. Agent Jeff Schwartz of Excel Sports Management confirmed the terms to ESPN. It comes just days before Porzingis would have entered unrestricted free agency.

Porzingis, acquired by the Warriors midway through last season, appeared in 15 games for Golden State, averaging 16.1 points, 5.2 rebounds and 1.2 blocks in 24 minutes per contest. His addition provided frontcourt depth, though injuries and integration limited his overall impact as the Warriors finished 37-45 and missed the playoffs.

The extension represents a step down from Porzingis’ previous two-year, $60 million deal with the Boston Celtics, which expired after the 2025-26 season. That contract followed his role on the Celtics’ 2024 championship team. Financially prudent for Golden State, the new pact allows the franchise flexibility as it navigates a critical offseason.

Porzingis’ journey to Golden State involved multiple moves. Originally drafted fourth overall by the New York Knicks in 2015, he has played for six teams in his 10-year NBA career. After stints with the Knicks, Dallas Mavericks and Washington Wizards, he joined the Celtics, contributed to their title run, and was later traded to the Atlanta Hawks in a three-team deal. The Warriors acquired him from Atlanta in exchange for Jonathan Kuminga, who became a free agent after the Hawks declined his option.

For the Warriors, retaining Porzingis addresses one immediate need in a frontcourt that has faced questions. The team has been linked to high-profile targets like Anthony Davis and even LeBron James amid speculation about roster upgrades. Draymond Green opted out of his contract, adding further uncertainty to the veteran core.

General Manager Mike Dunleavy Jr. and the front office have emphasized building around Stephen Curry while blending youth and experience. Porzingis’ shooting ability from the perimeter — career 36.4% from three-point range, though he shot 31.1% in limited action with Golden State — complements the Warriors’ motion offense and spacing needs.

Injuries have been a recurring theme in Porzingis’ career, including significant time missed with knee and Achilles issues. However, when healthy, he provides elite rim protection and floor spacing as a stretch big. His presence could prove valuable if the Warriors pursue additional star power this summer.

The deal comes at a pivotal time for Golden State. After missing the postseason, the franchise faces pressure to return to contention in the loaded Western Conference. Curry remains the cornerstone, but supporting pieces like Porzingis are crucial for balancing the roster.

Porzingis expressed excitement about continuing in Golden State in recent comments, though specific quotes from the extension announcement were not immediately available. His adaptability across teams highlights his professional approach amid frequent transitions.

League-wide, the extension avoids what could have been a competitive bidding process for Porzingis in free agency. Several contending teams were expected to show interest in the veteran center, known for his size, skill and defensive versatility.

For Porzingis, the agreement provides stability after years of movement. Selected as an All-Star in 2021 with the Wizards, he has averaged double figures in scoring throughout much of his career while evolving into a reliable playoff contributor.

The Warriors’ offseason strategy appears focused on targeted additions rather than wholesale changes. Retaining Porzingis checks one box as they evaluate options in free agency and potential trades. The second-year player option gives both sides flexibility depending on performance and team direction.

Financially, the $40 million deal averages $20 million annually, a reasonable figure for a player of Porzingis’ caliber entering his 30s. It fits within the team’s salary structure as the NBA’s collective bargaining agreement continues to influence roster construction leaguewide.

Porzingis’ international experience also adds value. A standout for Latvia, he has represented his country in FIBA competitions, bringing global perspective to the locker room.

As training camp approaches in the fall, Porzingis is expected to compete for a starting role or significant minutes alongside emerging frontcourt players. His chemistry with Curry and other guards will be a key storyline.

The announcement provides some clarity for Warriors fans amid broader uncertainty. While rumors of blockbuster moves persist, locking in Porzingis signals commitment to the current core.

NBA insiders note that such mid-tier extensions often serve as building blocks for deeper roster maneuvers. Golden State’s front office has a history of creative cap management, dating back to their dynasty years.

Porzingis joins a list of recent veteran additions aiming to revitalize the franchise. His ability to stretch the floor could open driving lanes and create opportunities in an offense that thrives on ball movement.

Health remains the biggest variable. If Porzingis can stay on the court for a full season, his production could help push the Warriors back into playoff contention.

The deal was completed before the start of free agency, allowing the team to focus on other priorities. With the salary cap situation in flux across the league, securing Porzingis at this price point is viewed as a positive step.

League sources indicate both sides were motivated to reach an agreement quickly to avoid the uncertainties of the open market. For Porzingis, returning to a familiar system after a brief tenure made sense.

As the NBA offseason heats up, this extension is one of the first significant moves of the period. It sets the tone for what could be an active summer in the Bay Area.

Warriors fans can look forward to Porzingis donning the blue and gold for at least two more seasons, with the potential for more depending on the player option. His journey from lottery pick to championship contributor to veteran stabilizer continues in Golden State.

The franchise, eager to rebound from a disappointing campaign, hopes this commitment pays dividends on the court. With Curry entering another year as one of the league’s elite, supporting talent like Porzingis will be essential.

Further details on the Warriors’ plans are expected in the coming days as free agency looms. For now, Porzingis’ return provides a foundation to build upon.

The secure messaging app Signal introduced an identical service in 2024, external.

“It is a good feature, but even if it does offer more privacy, remember WhatsApp is not a privacy-friendly app overall,” said Carisa Veliz, a professor at Oxford University and author of Privacy is Power.

“It collects much metadata about users for marketing purposes.

“We have to remember that WhatsApp is owned by Meta – one of the tech companies with the worst track records when it comes to privacy.”

WhatsApp does not use the content of private chats for advertising. Those are protected by end-to-end-encryption, meaning the firm cannot read the contents of messages.

But it does use data – such as your general location and basic account information such as age – to support advertising.

Once the feature is fully rolled out, individual phone numbers will no longer be visible on WhatsApp.

There will be no public username directory, and phone numbers will still be required in order to have a WhatsApp account in the first place.

Some have raised concern that usernames could open the door to more scams on the platform.

The company told one X user, external who asked about safeguards to protect users against scammers that it has “multiple layers of defense in place”.

It said optional username keys – short numbered codes – can be added, which would mean people can only contact you if they have your username and its key.

It added that its systems “detect and block abuse patterns”.

The minimum age for using the platform is 13, and messaging apps will not be included in the UK’s upcoming social media ban for under 16 year olds, due to be implemented next year.

WhatsApp recently announced Kunal Shah, the founder of an Indian fintech start-up, would be taking over as head of the platform – with Will Cathcart stepping down after seven years in the role.