Five interesting things that Hodges Capital research analysts discovered this week...
#1 CONSUMER PESSIMISM: A recent New York Fed survey shows that consumers are growing more pessimistic about employment and the stock market. The percentage of people expecting higher unemployment a year from now has risen to 44%, the highest level since the pandemic. Additionally, only 32% expect the stock market to be higher a year from now.
#2 CYBERCRIME COSTS: Worldwide cybercrime costs are estimated to hit $10.5 trillion in 2025, up from $9.5 trillion in 2024, according to data from Cybersecurity Ventures.
#3 CEMENT SUPPLY: U.S. cement production has remained nearly flat over the past decade at roughly 95 million short tons, which falls well below consumption rates, according to Geological Survey data. As a result, it’s estimated that approximately 20% of U.S. cement consumption will rely on imports.
#4 THE TAXMAN COMETH: As tax season comes to a close for most Americans this week, the Internal Revenue Service (IRS) anticipates processing more than 140 million returns for the 2025 tax season.
#5 TOMATO DUMPING: The U.S. will end the suspension of a 2019 agreement with Mexico that halted anti-dumping duties on Mexican tomatoes. Since the first agreement in 1996, tomato imports from Mexico have surged by over 400%, capturing about 70% of the U.S. market. Meanwhile, domestic production, primarily from Florida and California, now makes up only 30% of the domestic supply, according to a report from Hedgeye.
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