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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina's property stimulus plan: It'll take time for property companies to benefit from it, Citi saysPierre Lau, head of Asia-Pacific utilities research at Citi, says the market will take some time to digest the announcement.
Persons: Pierre Lau Organizations: Citi Locations: Asia, Pacific
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCiti says it expects Chinese economic outlook to be mediocre this yearPierre Lau, China equity strategist at Citi, says the bank is being selective when it comes to Chinese stocks in 2024.
Persons: Pierre Lau Organizations: Citi Locations: China
President Joe Biden walks across the South Lawn before boarding Marine One and departing the White House on Nov. 1, 2023. President Joe Biden on Wednesday will tout his accomplishments and rub elbows with wealthy donors in Minneapolis, the political backyard of his newly announced 2024 primary challenger, Democratic Rep. Dean Phillips. The White House says the trip is intended to highlight how Biden's agenda is helping rural communities. Biden plans to stop at a family-run farm south of Minneapolis before attending a campaign fundraiser with several prominent Minnesota Democrats. Asked Tuesday why the president chose to visit Minnesota now, White House Press Secretary Karine Jean-Pierre laughed.
Persons: Joe Biden, Dean Phillips, Biden, Karine Jean, Pierre, Organizations: Lawn, White, Democratic, Minnesota Democrats, Biden, White House Press, Infrastructure Law Locations: Minneapolis, Minnesota
Investors are hoping that next week's Federal Reserve meeting offers more clarity about the path interest rates could take. Rising interest rates squeeze consumers, while a cut to follow should help boost economic activity. These pricey purchases are often financed, and higher rates mean higher costs. "Even if the sticker price of the thing doesn't change, the interest rate still matters a lot for their monthly budget." The "brakes were hit very hard in 2022," largely due to higher rates on the new-home construction side, he said.
Persons: Christopher Herrington, Herrington, Kurt Yinger, It's, James Hardie, Yinger, There's, Rafe Jadrosich, Jadrosich, Seth Sigman, Bank of America's Curtis Nagle, Nagle, Loop's Anthony Chukumba, Garik Shmois, Shmois, Leslie's, Julien Dumoulin, Smith, SunRun, Corinne Blanchard, Citi's Pierre Lau, SolarEdge, Lau, John Bailer, Michael Bloom Organizations: Virginia Commonwealth University, Davidson, Companies, Bank of America, Fortune Brands, UFP Industries, Barclays, Bank of America's, Williams, Pool Corp, of America, FTC, Deutsche Bank, Shoals Technologies, Caterpillar, Cummins, Newton Investment Management Locations: Louisiana, Wall, Sonoma, California
At the same time, several online retail stocks have boomed, thanks in part to China abandoning its zero Covid policy. That has created a large gap between some retail ETFs, with broader funds lagging behind those with an e-commerce focus. For example, the Amplify Online Retail ETF (IBUY) and ProShares Online Retail ETF (ONLN) gained 7.7% and 8.1%, respectively in the first five trading days of the year. IBUY YTD mountain Online retail ETFs like IBUY are off to a fast start in 2023. Any reversal there could push retail ETFs that also hold more traditional "brick-and-mortar" stores, back into the lead.
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