Morningstar, Inc. - November 6, 2025
Which ‘Trump Trades’ Paid Off—and Which Ones Missed the Mark
Plus: The Best Bank Stocks to Buy, An Active ETF With Star Power,...
 Morning DigestNovember 6, 2025 Dan Lefkovitz The past year proves, once again, that markets do a poor job gauging political impact. 
ADVERTISEMENT  Editor's Picks  Amid mixed economic signals and data disruptions, investors should get comfortable with a murky outlook for interest rates. Sarah Hansen  One third of the year-to-date valuation increases occurred in October. David Sekera  The journalist and author shares her personal story and gives practical tips for helping a parent through healthcare and financial challenges. Christine Benz, Amy Arnott  That ETF you’re eyeing may differ from the manager’s mutual fund—and in surprising ways. Gregg Wolper  Why active ETF prices can drift from their portfolio’s underlying value—and what it means for you. Robby Greengold  Vanguard passes its 2024 peak with new record inflows. Brendan McCann Investing Insights Avoid paying for the high expectations for AI stocks with these ETFs. Bryan Armour David Giroux takes on the S&P 500, and we like his chances. Jason Kephart It’s not yet clear if the actively managed ETFs that mutual fund families are launching will stem or exacerbate active equity outflows. David Carey Invesco QQQ Trust led stock ETF returns in October, while Vanguard Mid Cap Index Fund lagged. Bella Albrecht, Lauren Solberg ARK Space Exploration & Innovation ETF and Innovator IBD 50 ETF were among the best-performing ETFs in October 2025. Bella Albrecht With the ad business performing well and doubts about AI spending, here’s what we think of Meta stock. Malik Ahmed Khan With AI driving results and a raised fair value estimate, here’s what we think of Alphabet’s earnings. Malik Ahmed Khan Recent Earnings New Stock Analyst Reports Pinterest (PINS) reported strong third-quarter results, as sales rose 17% to $1.05 billion and adjusted EBITDA expanded 200 basis points to 27%. These results were offset by the firm's fourth-quarter guidance for $1.33 billion in sales, which fell short of the FactSet consensus. Pinterest's top line is being driven by a healthy mix of price and volume. Monthly user count grew 12% to 600 million (volume), while average revenue per user expanded 5% to $1.78 (price). New Fund Analyst Reports BNY Mellon Global Fixed Income (DHGAX) is guided by stable and experienced managers implementing a structured process for security selection and portfolio construction. The Tools You Need to Invest Like an Analyst Stay connected:
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