Five interesting things that Hodges Capital research analysts discovered this week...
#1 YOLO FINANCE: According to a recent Northwestern Mutual survey, younger adults are significantly more likely than older generations to invest in speculative assets. Roughly 35% of Millennials and 32% of Gen X either own crypto or plan to invest in it in 2026, compared with 24% of all adults—representing gaps of 11 and 8 percentage points, respectively.
#2 TAX REFUNDS: The Internal Revenue Service reports that the average U.S. tax refund for the 2026 filing season is approximately $3,676–$3,742, up from roughly $3,324–$3,382 in 2025—an increase of about 10% year over year. Additionally, an estimated 70–72% of taxpayers are expected to receive refunds in 2026, according to IRS data and Tax Foundation analysis.
#3 RARE EARTH MAGNETS: According to a recent Benchmark report, the U.S. imports more than 50,000 tons of neodymium magnets annually. These magnets are critical for everyday electronics, electric vehicles, medical equipment, power tools, aerospace and defense applications, and a wide range of industrial uses. Domestic production is currently around 1,000 tons, creating a potential national security concern. There are approximately 4–5 U.S.-based manufacturers aiming to add up to 40,000 tons of domestic capacity over the next five years.
#4 STEEL PRICES ON A ROLL: Domestic hot-rolled coil (HRC) steel prices have increased 10-11% since the start of this year to $1,045-$1,050/ short ton. HRC is commonly used in construction products and automotive manufacturing. Likely the result of 232 tariffs, the recent price increase has also been correlated with the lowest levels of steel imports into the U.S. since 2009.
#5 EARNINGS GROWTH: As the first quarter’s earnings season began this week, expectations for growth remain steady. The S&P 500 is projected to deliver 13-14% earnings growth this year, led heavily by the technology sector, which is now expected to grow 46% and account for roughly 60% of total earnings growth according to Strategas.
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