Before the bell: the brewer reports later today

Both the S&P 500 and the Nasdaq hit new record highs. The Hong Kong stock exchange is closed today, while investors in Amsterdam are treated to coffee, and after the bell, an American brewer taps a fresh batch of results.

The S&P 500 and Nasdaq both gained 0.5% yesterday, closing at record highs. In the second quarter, stock prices on Wall Street rose by an average of 11%. That more than offset the 5% decline in the first quarter, bringing the year-to-date gain to 5.5%. Hewlett Packard Enterprise (+11.1%) had a strong showing after reaching a settlement with the U.S. Department of Justice. The company agreed to sell part of its business so that competitor Juniper Networks (+8.5%) could proceed with an acquisition. Robinhood (+12.8%) rallied after expanding its offering to allow clients to invest in private companies. First Solar (+8.8%) continued its recovery after the solar sector took a beating two weeks ago. Since its low, First Solar has climbed 41%, while SolarEdge (+3%) has gained 48.6%. In contrast, European markets ended the quarter on a downbeat note. On average, stocks in Europe fell by 0.5%. The Bel20 slipped 0.7%, with D’Ieteren (+1.8%) as the sole standout. After the close, Umicore raised its 2025 outlook.

In Japan, the Topix index dropped 0.7% this morning. SoftBank (+3.4%) posted a second consecutive day of gains. The Hong Kong exchange is closed today for a public holiday. Today, both European and U.S. indicators will shed light on business sentiment. In the Netherlands, JDE Peet’s is hosting an investor day—serving coffee, of course. After the bell, Constellation Brands, the American brewer, will report earnings.

Don’t despair

You may feel like mourning. And that’s okay. But it won’t help. However unjust the capital gains tax may be, we have to move forward. Don’t get blinded by the negatives—look around you at the phenomenal progress being made. Entrepreneurship and technology will prevail, despite the obstacles put up by politics. Companies with a solid vision and products or services that customers want will perform well. It’s not easy—we know that. That’s exactly why entrepreneurs continuously improve and innovate. It’s a privilege to be part of that process as an investor. There’s no way I’m reducing my investments because of a tax. Know someone who’s unsure? Tell them about our club. We’ll try our best to guide them.

Not yet a total loss

Renault announced this morning that it will take a 9.5 billion euro writedown on its stake in Nissan. The French carmaker, which owns 35.7% of its Japanese counterpart, will now value its stake based on Nissan’s share price. Why this accounting shift? Coincidence? I don’t think so. After two decades of cooperation—or at least attempts at it—it seems Renault and Nissan may be parting ways. Don’t be surprised if Renault announces plans to sell its stake in the near or distant future. Finding a buyer won’t be easy. Back in December, there was a proposal to merge the relatively weak Nissan with the stronger Honda by 2026, but that plan was scrapped in early February.

Did you know…

that Berkshire Hathaway has more than doubled its stake in Constellation Brands this year to 12 million shares? This gives Warren Buffett’s holding company a 6.6% stake. At the end of last year, Berkshire only held 5.6 million shares in the American brewer.

This article was translated from Dutch and was originally published on Spaarvarkens.be.