Anheuser-Busch InBev is the largest brewer in the world and one of the world's top five consumer product companies, as measured by EBITDA. The company's portfolio contains six of the top 10 beer brands by volume, according to Euromonitor, and we estimate it distributes 23 brands with retail sales over $1 billion. AB InBev was created by the 2008 merger of Belgium-based InBev and US-based Anheuser-Busch. The firm holds a 62% economic interest in Ambev, an 87% stake in Budweiser APAC, and in 2016 it acquired SABMiller.

With the current stock turmoil, global stocks, and especially stocks that pay dividends, are a potential option for investors. While the S&P 500 has fallen 12% year to date, the EAFE Index of large- and mid-cap stocks based in countries other than the U.S. and Canada has gained 1%. That's quite a change from the recent record. Over the past five years, the S&P 500 has advanced 109% compared to a 50% gain in EAFE. But the underperformance has given global stocks a valuation advantage, particularly in the area of dividends. Consider that the EAFE dividend yield of 3.0% is roughly 175 basis points higher than the comparable S&P 500 dividend yield. We think global dividend stocks continue to offer opportunity, particularly given the endless speculation over the direction of interest rates in the U.S., which has created market-timing headaches for equity income investors. These investors have endured recent wide swings in prices for rate-sensitive equity groups such as utilities, REITs and MLPs. In our view, investing in international income stocks is one way to increase portfolio diversification while reducing sensitivity to volatile U.S interest rates. Investing in overseas stocks carries its own set of risks, including the impact of currency exchange and geopolitical turmoil. But there are also a number of positives in this asset class for U.S. investors, including a wide selection of companies that pay dividends, robust industry diversification, and, as we have mentioned, higher yields and lower valuations. Argus has recently boosted its global coverage, and recommends the following international dividend stocks, each of which has at least a long-term BUY rating from an Argus analyst. This list of approximately 25-30 companies offers exposure to eight of the 11 major industrial sectors, and includes companies from 10 countries.

Anheuser-Busch InBev SA/NV produces and sells beer, near-beer products, and soft drinks worldwide. The company, whose origins date back more than 600 years, has over 500 beer brands, including Budweiser, Stella Artois, Beck's, Leffe, and Michelob. Through a range of M&A deals, it has become the world's largest brewer by volume and one of the world's largest consumer products companies by revenue. It employs approximately 144,000 people.

The major indices are moderately higher at midday. President Trump announced his plan for 25% tariffs on all cars and light trucks made outside of the U.S. Auto parts are also included. Meanwhile, the U.S. economy grew at a 2.4% rate in 4Q. We forecast that the GDP growth rate may slow 50-100 basis points due to trade wars, while inflation rises at a similar rate. We estimate 1Q at 1.6%. The yield on the 10-year Treasury note is at 4.38%. Oil is at $69 per barrel. Bitcoin is near $87,000.