Morningstar, Inc. - February 23, 2026
Could Tariffs Go Still Higher Despite the Supreme Court Ruling?
Plus: Best Innovative Companies to Own: 2026 Edition ...
 Morning DigestPreston Caldwell The Trump administration has other ways to keep tariffs high—if the president has the patience for the bureaucracy involved. 
ADVERTISEMENT Editor's Picks  The Supreme Court strikes down the president’s use of IEEPA to implement tariffs. David Sekera  Plus: What to know about Q4 earnings, and AI’s missing impact on GDP. Tom Lauricella  Investors are looking beyond AI to “real economy” stocks in the industrial, consumer defensive, and energy sectors. Sarah Hansen  Downgrades dominate and defaults are rising, according to Morningstar DBRS data. Michael Dimler, Krutang Desai  Plus, the investments that could be better suited for a different bucket. Jason Kephart, Ivanna Hampton Plus, the investments that could be better suited for a different bucket. Jason Kephart, Ivanna Hampton Investing Insights US and European equities rally, while bond yields hold steady. Sarah Hansen This is a warning sign for the industry and the rule makers about the downside of illiquid funds. Greggory Warren Analyzing the saga of this private credit BDC. Brian Moriarty Funds from Franklin Templeton, Capital Group, and BlackRock are among the best performers. Gabe Alpert These companies are expected to benefit from disruptive technologies. Margaret Giles The stocks of these high-quality companies look cheap today. Margaret Giles With cryptocurrency price volatility and trade revenue expected to fall, here’s what we think of Coinbase. Michael Miller Earnings for Nvidia and Paramount this week, plus the January Producer Price Index report. Rachel Schlueter New Stock Analyst Reports Western Union's (WU) fourth-quarter results weren't impressive, as industry headwinds continued to pressure the top line and revenue was weaker than expected. Western Union continues to see pressure on its domestic outbound business, given a more adverse political environment, with revenue down 5% year over year in the quarter. Remittances to Mexico have been under particular pressure, but management said the situation started to stabilize in December. Management has been able to offset revenue pressure with margin improvement to some extent, with adjusted margin in the quarter increasing to 20% from 17% last year. New Fund Analyst Reports Vanguard Limited-Term Tax-Exempt (VMLUX) combines experienced leadership with a disciplined approach that stands out and delivers consistently strong results versus muni-national short Morningstar Category peers. The Tools You Need to Invest Like an Analyst Stay connected:
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