Weak China demand is weighing on European luxury & consumer discretionary stocks.
- Swatch Group (UHR SW) reported a steep fall in first half sales and earnings on Monday as the world’s biggest watchmaker struggled with weaker demand in China. The company’s drop in turnover was triggered by a slump in demand for luxury goods in China, including Hong Kong and Macau, with only the Swatch brand bucking the negative trend, increasing its sales in China by 10%, the company said in a statement. - Hugo Boss (BOSS GY) shares plunged as much as 10% Tuesday after the company cut its sales outlook. The German fashion house said Monday that it expects full-year sales of up to 4.35 billion euros ($4.73 billion) on macroeconomic challenges, particularly in China. The retailer becomes the latest high-end fashion line to warn of persistent woes in the luxury sector. Source: CNBC
Copper's $5 level reminds of the gold's critical $2,000 mark
nce gold breached that resistance, it kept moving with authority. Are we setting the stage for a similar move in copper? Source: Tavi Costa, Bloomberg
McDonald's Showing Bullish Momentum on Short Term
McDonald's (MCD US) has been in a support zone for 9 weeks! Last week, there was a false breakout below 245, but it managed to close above. On the short-term chart, there is growing bullish momentum. Keep an eye on it. Source: Bloomberg
The power of the apostrophe
Source: Ian Bremmer on X, The Times of India
Big money and the Valley are backing Trump
.
Goldman Sachs Republican winners versus losers basket (i.e long stocks likely to benefit from a Trump victory / short those who are likely to suffer from it) added 2.77% yesterday
Source: Bloomberg, RBC
US equity futures traders have never, ever been 'longer' than they are now...
Source: GS
BlackRock is eating the world: World's biggest money manager hits $10.6tn asset record, driven by ETF boost.
Total net inflows were $82bn. Source: HolgerZ, Bloomberg
