
Half Priced Skiing And Riding At Some Of America's Best Ski Resorts
Ski Passes
I've written a lot over the years on these passes, comparing Vail's Epic Pass with rivals including the Ikon Pass, Indy Pass and smaller regional competitors. At the end of the day the math is pretty simple, and the Epic Pass—number one in the category in terms of sales—is the best choice for most skiers or snowboarders, especially anyone who lives near a 'home base' ski resort. While Ikon can be good for devoted road trippers who like to visit multiple destinations each winter, it does not work for those who live at one of its popular resorts, such as Jackson Hole, WY or Aspen, CO, because it is limited to 5-7 days each at a lot of different places but does not include unlimited access, or a season pass, to any one spot. The Epic Pass on the other hand is unlimited at all Vail Resorts, whether you live there or not, so it functions as both a hometown season pass and a license to travel, especially for skiers and riders in the Northeast or Midwest who do drive market skiing when home and then want to take one or two big flying trips—without having to pay for lift tickets in either case.
If you live near Vail or Beaver Creek or Breckenridge or Keystone or Crested Butte, it's a regular season pass at your home mountain that you can also use on the road, but if you live in say Denver, it gives you the choice for skiing any of these area mountains whenever you want (plus up to 7 days free at Telluride). And that's just Colorado.
The Epic Pass also covers the biggest resorts in the U.S. (Park City Mountain Resort, UT), North America (Whistler Blackcomb, BC) and Australia (Perisher), along with dozens of major destination resorts in Europe (Switzerland, Italy, France, Austria) and Japan. That's a lot of skiing and riding.
Last fall I did this Forbes feature on the '10 Best Ski And Snowboard Resorts to Use Your Epic Pass,' and the year before a side-by-side comparative breakdown of 'Which Ski Pass is Best For You, Epic or Ikon?' For a small niche of skiers the correct answer is both, but for me, I just have an Epic Pass, which I think is overall the best deal going.
But as of today, the Epic Pass just got better.
Back in late May, less than three months ago, the company announced the return of former CEO Rob Katz to his previous position. As CEO from 2006-2021, Katz was responsible for many big changes at the company, including the creation of the Epic Pass and the acquisition of many new ski resorts here and abroad. But after he stepped down, the company's stock price has mainly trended downwards, while vocal opponents have gotten louder, both inside and outside the company. His return has been seen by many as the best hope to get things back on track again.
That may start with today's announcement, the first major policy shift since Katz' return as CEO. One of his early business strategies was to move the industry away from its then dependence on selling real estate and instead focus on growing the sport by bringing in new skiers and riders, including the use of value priced starter packages of lessons, equipment rental and lift tickets for first timers, something Vail Resorts has continued to excel at to this day. Today's announcement hearkens back to that aesthetic.
To make it easier and cheaper to bring along friends and get new people to try winter sports, Epic Pass holders now get 'Epic Friend Tickets,' which allow companions who do not have their own pass the buy lift tickets for half price at any time at any of the company's 37 resorts in North America. That's 50% off whatever the ticket price would be at that time, which varies both from resort to resort and day to day. But in any case, in an industry that has largely moved away from single day tickets and made them incredibly expensive, it's a big savings for those who still need to buy them, often newcomers.
'Skiers and snowboarders know this sport is magic; a passion you can't help but pass on,' said Vail Resorts CEO Rob Katz in the Epic Friends press release. 'If you ski or ride, chances are someone brought you into the sport, and we want to make it easier for you to pay it forward. Epic Friend Tickets are the next step on our nearly two-decade-long journey to find ways to make skiing more accessible to more people. We will always give the best deal to our Pass Holders who commit to skiing with us ahead of the season. That said, we know not everyone can plan ahead, so if you don't have an Epic Pass, the next best thing is knowing someone who does.'
Here's the nitty gritty: Holders of the full Epic Pass, as well as Epic Local Pass, Epic Military Pass, Northeast Value Pass, and most of the company's other season-long passes, will receive 6-10 Epic Friend Tickets, depending on when they purchased their Pass. Eligible Pass Holders who purchased before April 14, 2025 will receive 10 Epic Friend Tickets and those who purchase after will receive six. These get companions 50% off one-day lift tickets at all North American resorts for the 2025/26 winter season (Epic Friend Tickets replace and are better than the previous benefit for companions, Buddy Tickets).
While the date window on getting the max of 10 Epic Friend tickets has come and gone, the pricing on the Epic Pass, which goes up as ski season approaches, is still at its season guaranteed lowest price and will be until September 1, so if you are thinking of getting one, you should decide, because there's no reason to wait and pay more. Right now, the season opening price of $1,075 ($548 for children) for the full-blown unrestricted Epic Pass with no blackout dates is a bargain, substantially cheaper—like a fourth, a third or half—of what some ski resorts get just for a season pass good in only one place. At Deer Valley, UT, an unlimited adult pass this winter is $3,900 (it does include some extra benefits). The cheapest pass at Jackson Hole, WY with no blackout dates or restrictions is currently $2,950. Even in Vermont where I live, a season pass for an adult at Killington right now is $1,489, while the Epic Pass at two-thirds the price gives unlimited access to multiple nearby major resorts including Stowe, Okemo and Mount Sunapee—plus it works at some of the marquee resorts all around the world when I travel.
The Epic Pass is good for unlimited, unrestricted access at 42 Vail Resorts owned mountains in the U.S., Canada, Europe and Australia, plus a week or more at dozens of additional partner resorts across Europe, Japan, Canada and the U.S. These include the largest resort in the U.S and Canada and the most visited/popular resorts in the U.S. and Canada. The scaled down Epic Local Pass covers 29 resorts on an unlimited basis, plus additional restricted skiing, and is currently at the intro price of $799 ($416 for children). If you are active military, a veteran who served in the military and the dependents of either, you can get the best deal in all of skiing, the Epic Military Pass, with unlimited access to all 42 Vail resorts properties for just $190.
To be fair, the new Epic Friend benefit is a better deal for your friends than you if you are the pass holder, but this can include family members who ski just a couple of times and you might have to foot the bill for anyway. And here's the kicker for your friends: whatever they save on the most expensive day at half price, which could be over $150, 100% of that that amount can be applied as a discount towards their own Epic Pass for the following season, effectively doubling the savings if they try it and decide skiing or snowboarding is a thing they enjoy. That's a really good deal.
It's important to note that you can still often get single day lift tickets for your friends cheaper than the 50% discount by buying Epic 1-7 Day Passes, which have the biggest discounts of all, up to 65% off, but these are a commitment that have to be purchased in advance and ahead of the season. Also, you have to pay one of three triers based on where you think you might ski, and there's a premium upcharge for peak days, while with the Epic Friends, you always get 50% off the prevailing price wherever you go. It definitely offers more flexibility.
'By making it easier for our Pass Holders to share the ski experience with friends – through savings across not one, but two winter seasons – we hope to help spark traditions that will inspire groups of friends to return to the mountains for years to come,' said Katz.
Pray for snow!
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
2 minutes ago
- Yahoo
AMD Brushes Off China AI Sales Hit as Citi Calls Impact 'Largely Immaterial'
Aug 13 - Advanced Micro Devices (NASDAQ:AMD) grabbed attention this week after reports revealed the chipmaker agreed to give the U.S. government 15% of its AI GPU sales in China in exchange for export licenses. While that sounds like a big deal, Citi analyst Christopher Danely says it's largely immaterial to AMD's bottom line. Danely points out that the agreement mainly impacts low-margin products like the MI308X, far less profitable than AMD's corporate average margin of nearly 54%. Instead, the real growth drivers remain AMD's mainstream AI GPUs, the MI355 and MI400, which are fueling AI sales forecasts of $6.2 billion in 2025 (up 23%) and $9.9 billion in 2026 (up 58%). Key customers fueling that growth include Amazon (NASDAQ:AMZN), Oracle (NYSE:ORCL), Meta Platforms (NASDAQ:META), and OpenAI. Warning! GuruFocus has detected 6 Warning Signs with AMD. The analyst kept a Neutral rating on AMD with a $180 price target, noting the stock trades at a valuation slightly above its historical average. Rival Nvidia (NASDAQ:NVDA) has also signed a similar China export deal. For now, Wall Street maintains a Moderate Buy rating on AMD, with analysts seeing around 5% upside potential from current levels. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
2 minutes ago
- Yahoo
3 No-Brainer High-Yield Utility Stocks to Buy With $500 Right Now
Key Points Utilities provide what amounts to a basic necessity of modern life. Electricity demand is set to dramatically increase in the decades ahead. Investors have multiple attractive options for how they want to invest in the sector. 10 stocks we like better than Vanguard Utilities ETF › If you have ever lived through a blackout, you know just how important power is to modern life. The interesting thing is that electricity is going to become even more important in the years ahead, with U.S. electricity set to rise from 21% of end energy use to 32% between 2020 and 2050. That means there is a multi-decade opportunity in electricity, and here are three ways to play it. 1. Go all in on the idea, without picking a single stock The first choice here isn't a stock, it's an exchange traded fund (ETF) called the Vanguard Utilities ETF (NYSEMKT: VPU). Without getting too deep into the details, this ETF is designed to provide broad exposure to the sector. Roughly 60% of its assets are tied directly to electric utilities. Another 30% is in multi-utilities and independent power producers. Invest in Gold Thor Metals Group: Best Overall Gold IRA Priority Gold: Up to $15k in Free Silver + Zero Account Fees on Qualifying Purchase American Hartford Gold: #1 Precious Metals Dealer in the Nation Electricity is the core of this ETF, which offers an attractive 2.7% yield. That's not massive, but it is more than twice the yield you would get from the S&P 500 index. This is basically a way to invest in the electricity opportunity without having to pick a winner. This could be very helpful for someone who isn't a fairly active investor. Notably, demand from electric vehicles is expected to grow 9,000% between 2020 and 2050, but that growth is likely to be highest in the Northeast and Western regions of the country. Meanwhile, electricity demand from data centers is set to rise 300% over the next decade or so, but is likely to be most notable in the Mid-Atlantic and Texas. There are a lot of moving parts to investing in this sector, and the Vanguard Utilities ETF is a simple way to make sure you ride the broader demand trend without having to figure out what specific stock to buy and when. A $500 investment will buy roughly two shares of this diversified utility ETF. 2. NextEra Energy is a dividend growth machine If you like to pick dividend stocks, however, the best dividend growth choice is likely to be NextEra Energy (NYSE: NEE). This company is really two businesses in one. The core is the company's regulated utility operation, which is largely made up of Florida Power & Light. It is one of the largest electric utilities in the country and has long benefited from the in-migration that the Sunshine State has seen. On top of this business, NextEra Energy has built one of the world's largest providers of solar and wind power. This is the growth engine, tapping into the shift taking place in the world from dirtier energy sources to cleaner ones. The end result of this mix is nothing short of impressive. The dividend yield is attractive at roughly 3.1%. But the payout growth is huge, with an average annualized pace of 10% over the past decade. A 10% dividend growth rate is good for any company, but it is shockingly high for a utility. And management believes it can keep up that pace over the near term, with 6% to 8% increases in adjusted earnings per share projected through at least 2027 and 10% dividend growth through at least 2026. A $500 investment will net you about six shares of NextEra Energy. 3. Black Hills is a Dividend King with a lofty yield For investors who prefer something a bit more boring, Black Hills (NYSE: BKH) will probably be attractive. This company operates regulated natural gas and electric utilities across parts of Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota, and Wyoming. The big goal is to just be a reliable provider of energy to its roughly 1.35 million customers. However, given the increase in demand expected over the next couple of decades, that should be more than enough to keep Black Hills' dividend rising. Dividend growth is, in fact, what sets Black Hills apart from the pack. It is one of a small number of utilities that has achieved Dividend King status. Its streak is up to 55 years, with annualized dividend growth of around 5% over the past decade. Slow and steady is what you get here, along with a lofty 4.5% or so dividend yield. If you are focused on maximizing your income and don't want to take risks, Black Hills will likely fit perfectly into your portfolio. A $500 investment will allow you to buy around eight shares of Black Hills. Three ways to play a multi-decade trend in power The most important thing for dividend investors to keep in mind as they look at these three no-brainer high-yield utility investments is that the opportunity is not short term. If you buy in here, you'll need to be thinking in decades and not days. The utility sector moves slowly and deliberately because power is so important to modern life. And that means this is a huge opportunity, but one that will take time to materialize. If you have what it takes to buy and hold (and hold, and hold), you'll want to look at the Vanguard Utilities ETF, NextEra Energy, and Black Hills as electricity demand is set for a drastic long-term increase. Should you buy stock in Vanguard Utilities ETF right now? Before you buy stock in Vanguard Utilities ETF, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Vanguard Utilities ETF wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $653,427!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,119,863!* Now, it's worth noting Stock Advisor's total average return is 1,060% — a market-crushing outperformance compared to 182% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of August 13, 2025 Reuben Gregg Brewer has positions in Black Hills. The Motley Fool has positions in and recommends NextEra Energy. The Motley Fool has a disclosure policy. 3 No-Brainer High-Yield Utility Stocks to Buy With $500 Right Now was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 minutes ago
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq rise as Fed rate cut bets surge after CPI data, Bessent comments
US stocks climbed on Wednesday amid increasing expectations that the Federal Reserve will cut interest rates at its next meeting, following the latest inflation data. The Dow Jones Industrial Average (^DJI) led the major gauges, rising nearly 1%, while the benchmark S&P 500 (^GSPC) gained 0.4%. The tech-heavy Nasdaq Composite (^IXIC) pared earlier gains to climb roughly 0.3%. The gains followed a big upswing in stocks on Tuesday after the release of the July Consumer Price Index (CPI) report, with the S&P 500 and Nasdaq both touching new records. Though the data showed inflation had ticked up, it increased less than expected. Treasury Secretary Scott Bessent also on Wednesday called on the Fed to lower rates by 150 to 175 basis points. "I think we could go into a series of rate cuts here, starting with a 50 basis-point rate cut in September," he told Bloomberg. The results boosted bets the Fed would cut interest rates at its September policy meeting, especially in light of recent warnings signs the labor market is weakening. On Wednesday morning, traders had priced in a nearly 100% chance of a September cut, according to the CME Group. Later this week, investors will get two more snapshots on the state of the economy with the release of the Producer Price Index on Thursday and retail sales data on Friday. In corporate news, Circle (CRCL) fell Wednesday after the company announced it would sell 10 million shares on the heels of its first earnings report since its explosive public debut. Cava (CAVA) shares also dove after the company issued its first annual sales growth target cut. CoreWeave (CRWV) posted losses at the open as the company's operating income guidance fell below expectations as its cost of debt mounts, despite beating revenue estimates on strong demand for AI. Looking ahead, Cisco (CSCO) is Wednesday's earnings headliner after the closing bell. Crypto exchange Bullish prices IPO at $37 per share, valuing company at $5 billion Cryptocurrency exchange operator Bullish (BLSH) is set to go public on Wednesday at a valuation north of $5 billion as the IPO market looks set to continue a strong summer, Yahoo Finance's Jake Conley reports. Conley writes: Read the full story here. Stocks rise at the open US stocks moved higher on Wednesday after the open as expectations for Fed interest rate cuts rose. The tech-heavy Nasdaq Composite (^IXIC) and the Dow Jones Industrial Average (^DJI) rose more than 0.5%, while the benchmark S&P 500 (^GSPC) gained 0.4%. Within the S&P 500, the Consumer Discretionary Sector (XLY) was up 0.7% , while the Technology Sector (XLK) climbed more than 0.6%. Treasury yields fall after Bessent urges Fed to lower rates US Treasury yields fell on Wednesday as traders increased bets that the Federal Reserve would cut interest rates at its September meeting following a rise in core inflation. At the same time, Treasury Secretary Scott Bessent urged the Fed to cut interest rates by 150 basis points in an interview with Bloomberg on Wednesday, maintaining political pressure on the central bank. The 10-year Treasury yield (^TNX) fell 4 basis points to 4.25%, and the 30-year yield (^TYX) dropped to 4.84%. Tencent earnings, trade truce lift China tech stocks As my colleague Jenny McCall notes below, strong domestic liquidity in China and positive sentiment from the US trade truce have boosted Chinese stocks in recent months. On Wednesday, that rally continued in top Chinese stocks, as recent inflation data boosted hopes for US interest rate cuts and tech companies gained greater clarity around the sale of Nvidia and AMD chips in China. Tencent ( gained 4.7% after the WeChat parent company reported revenue growth of 15%, above estimates. The company is also accelerating AI research to keep up with the competition, which includes Alibaba (BABA), ByteDance, and US companies OpenAI and Anthropic. US-listed shares of e-commerce company Alibaba rose 3.6%, while (JD) added 2%. Baidu (BIDU) climbed 2.5%, and PDD Holdings (PDD) rose 1.9%. VIX fear gauge sinks to lowest level since December The VIX (^VIX) volatility index, a key fear gauge in markets, slipped to 14.49 on Wednesday morning, hitting its lowest level since late December 2024. Despite geopolitical tensions and lingering tariff uncertainty, there are a few reasons why markets are pricing in fewer swings. For one, investors are holding a lot of cash and buying assets at lower prices during sell-offs, according to Bloomberg. Second, the global economy appears to be holding up better than investors expected after President Trump unleashed "Liberation Day" tariffs in April. At that time, the VIX spiked to 52. Bloomberg reports: Read more here. Good morning. Here's what's happening today. Economic data: MBA Mortgage Applications (week ending Aug. 8) Earnings: Brinker International (EAT), Cisco (CSCO), Red Robin (RRGB) Here are some of the biggest stories you may have missed overnight and early this morning: Earnings live: Cava stock tumbles and CoreWeave slides Crypto is having a breakout summer — and bitcoin isn't the reason US leads markets higher as world adapts to tariff policy Dutch Bros eyes expansion as Starbucks battle heats up Investors playing more defense even as stocks climb to new highs US 30-year mortgage rate falls, refi applications surge Market gauges of volatility are fading despite high uncertainty China's $11T stock market stages steady resurgence Bitcoin isn't the reason for crypto's breakout summer The crypto world has had room to run this year amid a series of legislative wins and new financial initiatives. But notably, the big news items don't really involve bitcoin (BTC-USD), Yahoo Finance's Hamza Shaban notes in today's Morning Brief. Hamza writes: Japan's Nikkei hits all-time high The Nikkei 225, the primary index for the Tokyo Stock Exchange, is trading at all-time highs amid optimism that confusion over the recent US-Japan trade agreement is being addressed in addition to the renewed strength in Big Tech. Domestically, Japan's key auto industry is cautiously optimistic that the the positive will outweigh any drag coming from tariffs. "The Nikkei was not able to hit a record until today because chip-related shares and auto shares dragged on the index," Takamasa Ikeda, senior portfolio manager at GCI Asset Management, told Reuters. China's $11 trillion stock market stages steady resurgence Chinese stocks have risen in recent months, helped by strong domestic liquidity and despite a lack of major catalysts. Bloomberg News reports: Read more here. The best points I have heard this morning on CoreWeave CoreWeave (CRWV) was teed up to let down investors last night. And it did on several fronts. First, the company's net loss was much higher than consensus. Second, capital expenditures were a whopping $1 billion higher sequentially. And third, capex may climb another $500 million in the current quarter. While I appreciate the company's revenue backlog of $30.1 billion doubled year over year, the company's mixed results and high debt load are real causes for concern. Hence, the sharp pre-market pullback. Here are two important call outs this morning from DA Davidson analyst Gil Luria: Cava crashing Cava (CAVA) is getting run over premarket to the tune of 23%. Bottom line on this one: When you are valued as a high-growth stock and you don't deliver high growth, your stock will take a beating. Same restaurant sales only rose 2.1%. The company slashed its full-year same-restaurant sales guidance. The earnings call wasn't exactly alarming — the company appears to still be structurally sound. But a slower economy and increased competition is weighing on the brand's results. We heard the same exact tone at Chipotle (CMG) and Starbucks (SBUX) this earnings season. The positive here: Cava is testing salmon for its menu. Who doesn't like salmon in a $15+ salad bowl?! Crypto exchange Bullish prices IPO at $37 per share, valuing company at $5 billion Cryptocurrency exchange operator Bullish (BLSH) is set to go public on Wednesday at a valuation north of $5 billion as the IPO market looks set to continue a strong summer, Yahoo Finance's Jake Conley reports. Conley writes: Read the full story here. Cryptocurrency exchange operator Bullish (BLSH) is set to go public on Wednesday at a valuation north of $5 billion as the IPO market looks set to continue a strong summer, Yahoo Finance's Jake Conley reports. Conley writes: Read the full story here. Stocks rise at the open US stocks moved higher on Wednesday after the open as expectations for Fed interest rate cuts rose. The tech-heavy Nasdaq Composite (^IXIC) and the Dow Jones Industrial Average (^DJI) rose more than 0.5%, while the benchmark S&P 500 (^GSPC) gained 0.4%. Within the S&P 500, the Consumer Discretionary Sector (XLY) was up 0.7% , while the Technology Sector (XLK) climbed more than 0.6%. US stocks moved higher on Wednesday after the open as expectations for Fed interest rate cuts rose. The tech-heavy Nasdaq Composite (^IXIC) and the Dow Jones Industrial Average (^DJI) rose more than 0.5%, while the benchmark S&P 500 (^GSPC) gained 0.4%. Within the S&P 500, the Consumer Discretionary Sector (XLY) was up 0.7% , while the Technology Sector (XLK) climbed more than 0.6%. Treasury yields fall after Bessent urges Fed to lower rates US Treasury yields fell on Wednesday as traders increased bets that the Federal Reserve would cut interest rates at its September meeting following a rise in core inflation. At the same time, Treasury Secretary Scott Bessent urged the Fed to cut interest rates by 150 basis points in an interview with Bloomberg on Wednesday, maintaining political pressure on the central bank. The 10-year Treasury yield (^TNX) fell 4 basis points to 4.25%, and the 30-year yield (^TYX) dropped to 4.84%. US Treasury yields fell on Wednesday as traders increased bets that the Federal Reserve would cut interest rates at its September meeting following a rise in core inflation. At the same time, Treasury Secretary Scott Bessent urged the Fed to cut interest rates by 150 basis points in an interview with Bloomberg on Wednesday, maintaining political pressure on the central bank. The 10-year Treasury yield (^TNX) fell 4 basis points to 4.25%, and the 30-year yield (^TYX) dropped to 4.84%. Tencent earnings, trade truce lift China tech stocks As my colleague Jenny McCall notes below, strong domestic liquidity in China and positive sentiment from the US trade truce have boosted Chinese stocks in recent months. On Wednesday, that rally continued in top Chinese stocks, as recent inflation data boosted hopes for US interest rate cuts and tech companies gained greater clarity around the sale of Nvidia and AMD chips in China. Tencent ( gained 4.7% after the WeChat parent company reported revenue growth of 15%, above estimates. The company is also accelerating AI research to keep up with the competition, which includes Alibaba (BABA), ByteDance, and US companies OpenAI and Anthropic. US-listed shares of e-commerce company Alibaba rose 3.6%, while (JD) added 2%. Baidu (BIDU) climbed 2.5%, and PDD Holdings (PDD) rose 1.9%. As my colleague Jenny McCall notes below, strong domestic liquidity in China and positive sentiment from the US trade truce have boosted Chinese stocks in recent months. On Wednesday, that rally continued in top Chinese stocks, as recent inflation data boosted hopes for US interest rate cuts and tech companies gained greater clarity around the sale of Nvidia and AMD chips in China. Tencent ( gained 4.7% after the WeChat parent company reported revenue growth of 15%, above estimates. The company is also accelerating AI research to keep up with the competition, which includes Alibaba (BABA), ByteDance, and US companies OpenAI and Anthropic. US-listed shares of e-commerce company Alibaba rose 3.6%, while (JD) added 2%. Baidu (BIDU) climbed 2.5%, and PDD Holdings (PDD) rose 1.9%. VIX fear gauge sinks to lowest level since December The VIX (^VIX) volatility index, a key fear gauge in markets, slipped to 14.49 on Wednesday morning, hitting its lowest level since late December 2024. Despite geopolitical tensions and lingering tariff uncertainty, there are a few reasons why markets are pricing in fewer swings. For one, investors are holding a lot of cash and buying assets at lower prices during sell-offs, according to Bloomberg. Second, the global economy appears to be holding up better than investors expected after President Trump unleashed "Liberation Day" tariffs in April. At that time, the VIX spiked to 52. Bloomberg reports: Read more here. The VIX (^VIX) volatility index, a key fear gauge in markets, slipped to 14.49 on Wednesday morning, hitting its lowest level since late December 2024. Despite geopolitical tensions and lingering tariff uncertainty, there are a few reasons why markets are pricing in fewer swings. For one, investors are holding a lot of cash and buying assets at lower prices during sell-offs, according to Bloomberg. Second, the global economy appears to be holding up better than investors expected after President Trump unleashed "Liberation Day" tariffs in April. At that time, the VIX spiked to 52. Bloomberg reports: Read more here. Good morning. Here's what's happening today. Economic data: MBA Mortgage Applications (week ending Aug. 8) Earnings: Brinker International (EAT), Cisco (CSCO), Red Robin (RRGB) Here are some of the biggest stories you may have missed overnight and early this morning: Earnings live: Cava stock tumbles and CoreWeave slides Crypto is having a breakout summer — and bitcoin isn't the reason US leads markets higher as world adapts to tariff policy Dutch Bros eyes expansion as Starbucks battle heats up Investors playing more defense even as stocks climb to new highs US 30-year mortgage rate falls, refi applications surge Market gauges of volatility are fading despite high uncertainty China's $11T stock market stages steady resurgence Economic data: MBA Mortgage Applications (week ending Aug. 8) Earnings: Brinker International (EAT), Cisco (CSCO), Red Robin (RRGB) Here are some of the biggest stories you may have missed overnight and early this morning: Earnings live: Cava stock tumbles and CoreWeave slides Crypto is having a breakout summer — and bitcoin isn't the reason US leads markets higher as world adapts to tariff policy Dutch Bros eyes expansion as Starbucks battle heats up Investors playing more defense even as stocks climb to new highs US 30-year mortgage rate falls, refi applications surge Market gauges of volatility are fading despite high uncertainty China's $11T stock market stages steady resurgence Bitcoin isn't the reason for crypto's breakout summer The crypto world has had room to run this year amid a series of legislative wins and new financial initiatives. But notably, the big news items don't really involve bitcoin (BTC-USD), Yahoo Finance's Hamza Shaban notes in today's Morning Brief. Hamza writes: The crypto world has had room to run this year amid a series of legislative wins and new financial initiatives. But notably, the big news items don't really involve bitcoin (BTC-USD), Yahoo Finance's Hamza Shaban notes in today's Morning Brief. Hamza writes: Japan's Nikkei hits all-time high The Nikkei 225, the primary index for the Tokyo Stock Exchange, is trading at all-time highs amid optimism that confusion over the recent US-Japan trade agreement is being addressed in addition to the renewed strength in Big Tech. Domestically, Japan's key auto industry is cautiously optimistic that the the positive will outweigh any drag coming from tariffs. "The Nikkei was not able to hit a record until today because chip-related shares and auto shares dragged on the index," Takamasa Ikeda, senior portfolio manager at GCI Asset Management, told Reuters. The Nikkei 225, the primary index for the Tokyo Stock Exchange, is trading at all-time highs amid optimism that confusion over the recent US-Japan trade agreement is being addressed in addition to the renewed strength in Big Tech. Domestically, Japan's key auto industry is cautiously optimistic that the the positive will outweigh any drag coming from tariffs. "The Nikkei was not able to hit a record until today because chip-related shares and auto shares dragged on the index," Takamasa Ikeda, senior portfolio manager at GCI Asset Management, told Reuters. China's $11 trillion stock market stages steady resurgence Chinese stocks have risen in recent months, helped by strong domestic liquidity and despite a lack of major catalysts. Bloomberg News reports: Read more here. Chinese stocks have risen in recent months, helped by strong domestic liquidity and despite a lack of major catalysts. Bloomberg News reports: Read more here. The best points I have heard this morning on CoreWeave CoreWeave (CRWV) was teed up to let down investors last night. And it did on several fronts. First, the company's net loss was much higher than consensus. Second, capital expenditures were a whopping $1 billion higher sequentially. And third, capex may climb another $500 million in the current quarter. While I appreciate the company's revenue backlog of $30.1 billion doubled year over year, the company's mixed results and high debt load are real causes for concern. Hence, the sharp pre-market pullback. Here are two important call outs this morning from DA Davidson analyst Gil Luria: CoreWeave (CRWV) was teed up to let down investors last night. And it did on several fronts. First, the company's net loss was much higher than consensus. Second, capital expenditures were a whopping $1 billion higher sequentially. And third, capex may climb another $500 million in the current quarter. While I appreciate the company's revenue backlog of $30.1 billion doubled year over year, the company's mixed results and high debt load are real causes for concern. Hence, the sharp pre-market pullback. Here are two important call outs this morning from DA Davidson analyst Gil Luria: Cava crashing Cava (CAVA) is getting run over premarket to the tune of 23%. Bottom line on this one: When you are valued as a high-growth stock and you don't deliver high growth, your stock will take a beating. Same restaurant sales only rose 2.1%. The company slashed its full-year same-restaurant sales guidance. The earnings call wasn't exactly alarming — the company appears to still be structurally sound. But a slower economy and increased competition is weighing on the brand's results. We heard the same exact tone at Chipotle (CMG) and Starbucks (SBUX) this earnings season. The positive here: Cava is testing salmon for its menu. Who doesn't like salmon in a $15+ salad bowl?! Cava (CAVA) is getting run over premarket to the tune of 23%. Bottom line on this one: When you are valued as a high-growth stock and you don't deliver high growth, your stock will take a beating. Same restaurant sales only rose 2.1%. The company slashed its full-year same-restaurant sales guidance. The earnings call wasn't exactly alarming — the company appears to still be structurally sound. But a slower economy and increased competition is weighing on the brand's results. We heard the same exact tone at Chipotle (CMG) and Starbucks (SBUX) this earnings season. The positive here: Cava is testing salmon for its menu. Who doesn't like salmon in a $15+ salad bowl?! Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data