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☆ 'Quiet luxury' is back for the first time since the Great Recession. Here's what it is and what brands stand to benefit.
▼ + stars: | 2023-04-16 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +6 min

The quiet luxury trend is dominating 2023 after years of trends like "dopamine dressing." David Russell/HBOLike most other fashion trends, the move toward quiet luxury, or "stealth wealth," is part of a cycle. Liz Hafalia/The San Francisco Chronicle via Getty ImagesAt this point, quiet luxury has become so popular that even luxury brands themselves are being asked about it. She also highlighted Italian luxury house Brunello Cucinelli, French leather goods firm Hermès, and Armani, who has been doing quiet luxury for nearly two decades. If that's a bit outside your budget, there are mass-market retailers partaking in what the quiet luxury trend is promoting: durable, sustainably made clothing in timeless fabrics and silhouettes.

☆ Here's what I want to see before buying in a stock market that stumbled on solid bank earnings
▼ + stars: | 2023-04-16 | by ( Jim Cramer | ) www.cnbc.com time to read: +9 min

I do not understand how it could be double the price of the stock when the TVB means that if you closed the bank that's what you would get. I know the stock of Wells Fargo (WFC) didn't do much after it reported. Now, I offer the story of these banks as a preamble to what I see happening in the stock market right now. I don't want to conflate a day of good bank earnings with a month of good stock prices. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

☆ The World Is Volatile but Luxury Brands Look Serene
▼ + stars: | 2023-04-15 | by ( Carol Ryan | ) www.wsj.com time to read: 1 min

Hermès is among the three luxury-goods companies that together snagged the majority of incremental revenue in 2022. In a world coping with inflation, war and bank runs, it seems counterintuitive that demand for luxury is still running hot. Yet in recent days, two big designer brands reported bumper first-quarter sales. Paris-listed Hermès said its revenue grew 23% from a year earlier in the three months through March, ahead of the 13% analysts were expecting. At LVMH Moët Hennessy Louis Vuitton—owned by Bernard Arnault , the world’s wealthiest person—sales grew 17% in the same period.

☆ Birkin bag maker Hermes sees no U.S. slowdown as sales jump 23%
▼ + stars: | 2023-04-14 | by ( Mimosa Spencer | ) www.reuters.com time to read: +2 min

[1/2] A craftswoman works on a Birkin bag at the luxury goods Hermes factory in Seloncourt October 4, 2013. REUTERS/Benoit TessierPARIS, April 13 (Reuters) - Sales at Birkin bag maker Hermes (HRMS.PA) rose 23% in the first quarter, above market expectations, as wealthy shoppers in China and Europe splurged on luxury fashion and accessories despite higher prices and global market turmoil. The increase of 23%, at constant exchange rates, beat a Visible Alpha consensus for 15% growth. Hermes raised prices by around 7% at the start of the year, a higher rate than its usual 2-3% annual increase. In China, where Hermes was less affected than competitors by lockdowns that dented sales for many at the end of last year, revenues grew by 23% in the quarter.

A broad measure of European shares, the STOXX 600 index (.STOXX), is trading at 14-month highs, taking this year's gains to almost 10%. James Rutland, a European equities fund manager at Invesco, noted that consistent outflows from European shares last year, when the energy crisis dealt the region a fresh blow, had left valuations at very cheap levels. A broad index of European stocks is trading at a multiple of 12.6, compared with a ratio of 18.1 for the S&P 500, according to Refinitiv data. This 5.5 point premium is above the five-year average of around 4 points, suggesting European shares look cheap compared to their U.S. counterparts. "This has broken European stocks out of their relative downward trend, so we don't think Europe is now a structural underperformer," he said.

MSCI's Europe index, for example, still trades more than a point below its average historic valuation - with the index priced at less than 13 times its 12-month forward earnings. The top sectoral weighting in the STOXX Europe 50, for example, is healthcare - at almost 23%. With British-based stocks the biggest country weighting in the STOXX Europe index at 26%, the other top four sectors in the index include the food, beverages and tobacco grouping, consumer products, industrial goods and energy. The dollar peaked late last year against most European currencies as the Federal Reserve raced to ratchet up interest rates. Some think the slide in the dollar index of some 12% since last September is barely half of the whole move.

☆ Analysis: LVMH's caution points to Americans' waning lust for luxury
▼ + stars: | 2023-04-13 | by ( Mimosa Spencer | ) www.reuters.com time to read: +5 min

[1/2] A LVMH luxury group logo is seen prior to the announcement of their 2019 results in Paris, France, January 28, 2020. European labels including LVMH's Louis Vuitton and Dior, as well as Chanel and Hermes have been riding a wave of strong demand from Americans, who emerged from lockdowns with savings and a desire to splash out on designer labels. He added the group is taking a cautious approach to price increases this year -- not just for cognac. "It's probably the most emblematic luxury store in the world," said Guiony. Elliott Savage, portfolio manager of U.S.-based fund YCG Investments, which holds shares in LVMH and other luxury brands, said a weakening U.S. luxury market in the near term could present an opportunity for dominant players to take market share.

☆ Slowing US inflation shifts investor focus to earnings season
▼ + stars: | 2023-04-12 | by ( David Randall | ) www.reuters.com time to read: +4 min

Wednesday’s data showed consumer prices growing at a slower pace than expected last month, bolstering the argument that inflation is decelerating. Yet some investors believe markets may have already accounted for a mild inflation slowdown and say further gains in stocks could depend on whether upcoming corporate earnings - especially results from banks - can beat forecasts. Earnings per share for the six largest U.S. banks are expected to fall 10% from the same quarter last year, according to Refinitv data. Overall, analysts expect S&P 500 earnings to fall 5.2% in the first quarter of 2023 from the year-ago period, I/B/E/S data from Refinitiv as of April 7 showed. That weakness would come on the heels of a 3.2% earnings fall in the fourth quarter of 2022, a back-to-back decline known as an earnings recession which has not occurred since COVID-19 blasted corporate results in 2020.

☆ Credit is contracting and supply chain problems are easing, says Federated Hermes' Steve Auth
▼ + stars: | 2023-04-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCredit is contracting and supply chain problems are easing, says Federated Hermes' Steve AuthSteve Auth, Federated Hermes Equities CIO, joins 'The Exchange' to discuss leaning in to defensive stocks, retesting summer lows, and inflation numbers coming down.

☆ The 'mammoth meatball' grown in a lab probably doesn't taste like woolly mammoth at all
▼ + stars: | 2023-04-11 | by ( Morgan Mcfall-Johnsen | Kelsey Vlamis | ) www.businessinsider.com time to read: +7 min

It probably doesn't taste like woolly mammoth, a meat specialist and mammoth DNA researcher said. The Belgian startup Paleo says it added woolly mammoth myoglobin to a plant-based burger. The mammoth meatball doesn't have either of those elements from woolly mammoth. Mammoth myoglobin doesn't necessarily bring mammoth flavorThough he didn't taste it, Ryall said everyone could smell the meatball while it was cooking. So why make a mammoth meatball that doesn't taste like mammoth?

☆ Here are Tuesday's biggest analyst calls of the day: Apple, Amazon, UPS, Netflix, WW, Disney & more
▼ + stars: | 2023-04-11 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Morgan Stanley names UnitedHealth a top pick Morgan Stanley says the healthcare company is best positioned in a recession. Morgan Stanley reiterates Netflix as equal weight Morgan Stanley said Netflix is the "streaming winner" but that it's "priced as such." Morgan Stanley downgrades Nasdaq to equal weight from overweight Morgan Stanley said that it has growth concerns for the exchange operator. JPMorgan upgrades Federated Hermes to overweight from underweight JPMorgan said the rate environment makes the capital market company's stock more attractive. Morgan Stanley upgrades AstraZeneca to overweight from equal weight Morgan Stanley said the pharmaceutical company is "leading the race" to outsmart cancer.

☆ We forecast negative GDP growth in third and fourth quarters of '23: Federated Hermes' Orlando
▼ + stars: | 2023-04-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe forecast negative GDP growth in third and fourth quarters of '23: Federated Hermes' OrlandoPhil Orlando, Federated Hermes’ chief equity market strategist, joins 'Power Lunch' to discuss the disconnect between core and nominal CPI, the way banks are paring back on loans and more.

☆ Finding Object Lessons via the Spirits of a Famed Artistic Couple
▼ + stars: | 2023-04-11 | by ( Ray Mark Rinaldi | ) www.nytimes.com time to read: 1 min

This article is part of our Design special report previewing 2023 Milan Design Week. When Ambra Medda and Veronica Sommaruga teamed up to create AMO, they agreed their new design venture should aim for the stars. Ms. Medda is an industry insider, a founder of Design Miami and a noted matchmaker between designers and brands. Ms. Sommaruga, a well-respected authority on textiles, has held key creative roles with companies like Vera Wang, Calvin Klein and Hermès. “We wanted to go as high as we could go,” Ms. Medda said.

☆ A company says it added mammoth DNA to plant-based burgers and that they tasted much more 'intense' and 'meatier' than the cow version
▼ + stars: | 2023-04-07 | by ( Kelsey Vlamis | Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +5 min

A Belgian startup says it added woolly mammoth DNA to a plant-based burger. The mammoth myoglobin gave it a more intense taste and aroma, and a richer color, the CEO said. But it's unclear when, if ever, mammoth protein will make it to grocery store shelves. The Belgian startup Paleo says it added woolly mammoth protein to a plant-based burger — and that the result was more intense than with cow. Sanctorum said the company added the mammoth protein to several different versions of plant-based burgers and tasted it.

☆ Explainer: How are money market funds preparing for a potential debt ceiling crisis?
▼ + stars: | 2023-04-06 | by ( John Mccrank | ) www.reuters.com time to read: +5 min

HOW BIG ARE MONEY MARKET FUNDS? Assets under management in U.S. money market funds, which include Treasury-only funds, prime funds, and government funds, totaled a record $5.2 trillion as of March 29, Investment Company Institute data showed. WHY IS THE DEBT CEILING A CONCERN FOR MONEY MARKET FUNDS? Fitch Ratings warned in February that the potential for investor redemptions and volatility in Treasury-only money market funds – as opposed to prime and government money market funds, which have other sources of funding – would rise if investors believed the government were to default. Runs on money market funds have been rare.

By offloading some of the risk on their loans, the banks can significantly reduce how much capital they need to set aside to cover potential losses, according to law firm Clifford Chance. A bank can normally transfer risks of losses equivalent to around 7% to 12% of a loan portfolio, two market sources said. With synthetic structures, a bank transfers the risk via credit derivatives or guarantees but keeps holding the underlying exposures. The IFC sold BNP a $50 million guarantee on $1 billion of loans to emerging markets, they said, without disclosing terms. While Europe has been at the forefront for risk transfers, the stock of loans covered by SRTs is small relative to European banks' balance sheets.

Vahia is one among India’s young and aspirational 1.4 billion population, whose propensity for online spending has attracted global companies and digital platforms. And as private consumption underpins economic growth in India, financial investors are targetting new ways to tap into it. India's per capita consumption of food was at $314 in 2020 compared to $884 for China, while that of clothing stood at $53.9 versus $212.9 for China, data from CLSA showed. FOREIGN INVESTORS JUMP INWith private consumption accounting for 60% of India's $3.5 trillion GDP, foreign portfolio investors have been quick to latch on. To be sure, it has not been all smooth sailing for investors as they chased India's consumption boom.

☆ Hacker Stole My Phone, Credit Card, Identity. I Set Out to Find Them.
▼ + stars: | 2023-04-02 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +22 min

They left the Verizon store and went to a nearby Apple store, where they used my Chase credit card to spend $6,370. And two, because a physical credit card had been used to make the purchases, even though I was still in possession of my card. Typically, when your credit card is about to expire, as mine was, the bank sends you a new card a few weeks ahead of time. All told, the gang allegedly stole hundreds of identities and defrauded retailers and credit card companies of $1.3 million. Whoever hacked my identity, it makes sense that they started with my credit card.

LONDON, March 31 (Reuters) - Even after a bank shock that could well have changed the whole picture, investors appear reluctant to give up the ghost just yet. The tech-heavy, interest-rate sensitive Nasdaq (.IXIC) is up 14% and even broad European bank stock indices (.SX7P) are still up more than 4% for the year. Pull the lens out as far as it can go and MSCI's all-country index of world stocks (.MIWD00000PUS) is up more than 5%. That U-turn in thinking during the month saw wild swings in the bond and rates markets, where key volatility gauges (.MOVE) hit their highest since the 2008 crash. by Mike Dolan; Editing by Toby Chopra; Twitter: @reutersMikeDOur Standards: The Thomson Reuters Trust Principles.

☆ Meet Peter Tuchman, the most photographed stock trader on Wall Street
▼ + stars: | 2023-03-25 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +5 min

Peter Tuchman, one of the most recognizable stock brokers on Wall Street, has been at the NYSE for over 37 years. Tuchman, who has been at the New York Stock Exchange for nearly 38 years, is the most-photographed broker on the trading floor. Tuchman describes the New York Stock Exchange as "the delta of all information" and the "last standing human entity market in the world." He landed a summer job as a teletypist at the New York Stock Exchange days after getting back. In the midst of the craziness, the wildness, and the chaos of the stock market.

☆ Watch CNBC's full interview with Federated Hermes' Phil Orlando
▼ + stars: | 2023-03-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Federated Hermes' Phil OrlandoPhil Orlando, chief equity market strategist at Federated Hermes, joins CNBC’s ‘Power Lunch’ to discuss why he expects the 10-year Treasury yield to return to 3 percent in 2023.

☆ Here's why Federated Hermes' Phil Orlando is concentrating on bonds
▼ + stars: | 2023-03-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's why Federated Hermes' Phil Orlando is concentrating on bondsPhil Orlando, chief equity market strategist at Federated Hermes, joins 'CNBC’s ‘Power Lunch’ to discuss why he expects the 10-year Treasury yield to return to 3% in 2023 and more.

☆ China's super rich population drops as tech crackdown, global factors hurt wealth
▼ + stars: | 2023-03-23 | by ( ) www.reuters.com time to read: +3 min

[1/3] Jack Ma, billionaire founder of Alibaba Group, arrives at the "Tech for Good" Summit in Paris, France May 15, 2019. China lost 229 billionaires from the Hurun Global Rich List 2023, accounting more than half of the 445 people who disappeared from the list, which ranks moguls with a minimum net worth of $1 billion, the Hurun Report said on Thursday. The world's second biggest economy also added 69 new billionaires to the list during the period. In China, Jack Ma, founder of China's e-commerce giant Alibaba Group Holding , dropped to 52nd place from 34th a year earlier, due largely to China's regulatory crackdown on its tech sector. "The only thing I am not certain of is whether there would be a global financial crisis," he said.

☆ Wall Street is confident high-yielding banks won't cut their dividends
▼ + stars: | 2023-03-22 | by ( Scott Schnipper | ) www.cnbc.com time to read: +5 min

Atlanta's Truist Financial ($41 billion) now yields 6.2% while Minneapolis's U.S. Bancorp ($53 billion) pays 5.1% on its common stock. After all, high dividend yields are often a sign of financial or business distress, or a red flag that the payments so many mom-and-pop investors depend on are unsustainable. Wall Street just doesn't think most payouts will be cut — so long as any recession this year stays on the mild side. "Despite these lower dividend growth expectations, we believe these bank holdings still have attractive dividends," Peris added. A final straw in the wind: Wall Street has issued dozens of research reports since Silicon Valley Bank went under.

NEW YORK, March 21 (Reuters) - Worries over the banking crisis are boosting disparate assets, with traditional safe-havens such as gold, Treasuries and money markets seeing high demand along with more speculative instruments such as tech stocks and bitcoin. The gains have come alongside big moves in assets traditionally perceived as safe-havens during uncertain times. Yields on shorter-dated Treasuries, which move inversely to prices, saw a historic drop last week, while money market funds notched their biggest inflows since April 2020 in the week to March 15, Refinitiv Lipper data showed. Well, the 10-year U.S. Treasury yield is down about 60 basis points from early March,” said Keith Lerner, chief market strategist at Truist Advisory Services, in a Monday report. Reporting by Lewis Krauskopf and David Randall; Editing by Ira Iosebashvili and Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

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