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The French lender's second-quarter net income fell 4.9% on a reported basis to 2.81 billion euros ($3.12 billion), beating the 2.49 billion euro analyst consensus compiled by the company. Group revenue fell 1.5% to 11.4 billion euros, also above expectations, while the cost of risk - money put aside for failing loans - was lower than expected at 689 million euros. BNP's bottom line also suffered from a set of exceptional items that totalled 723 million euros after tax. These included an 125 million euro provision for unspecified litigation. The group's 5 billion euro share buyback programme will proceed as planned, it confirmed, adding that the second tranche of 2.5 billion euros had been approved and will be launched from early August.

Persons: Italy's, Mathieu Rosemain, Christopher Cushing, Jason Neely, David Goodman Organizations: BNP, Royal Bank of Canada, Bank of, European Central Bank, Spain's Santander, Thomson Locations: PARIS, Bank, France

LONDON, July 27(Reuters Breakingviews) - The world is getting hotter, but when it comes to achieving net zero investors are cooling. Glencore (GLEN.L), the $75 billion Swiss group that is one of the world’s biggest coal miners, makes an interesting case study for what’s changed. Either way, the plan raises the prospect of Glencore bulking up in coal before offloading some or all of the enlarged business. True, a listing of Glencore’s enlarged coal business might not happen for a few years. While prices have now more than halved, Glencore‘s coal business would still make $9 billion in EBITDA in 2023 if they averaged $200 a tonne.

Persons: what’s, Glencore, Gary Nagle, Nagle, Teck, wouldn’t, There’s, Wael Sawan, Larry Fink, underwhelmed, ” Nagle, Glencore’s, George Hay, Karen Kwok, Peter Thal Larsen, Aditya Munjuluru Organizations: Reuters, Resources, Teck Resources, Bluebell Capital Partners, Investment, International Energy Agency, Reuters Graphics Reuters, Rio Tinto, BHP, GQG Partners, Capital Research Group, BlackRock, Vanguard, Services, Saudi, Aramco, United Nations, of, Pensions, Shell, Financial Times, “, Melbourne Mining, Capital Partners, Thomson Locations: Glasgow, Ukraine, EBITDA, American, U.S, Glencore, London, New York, Europe, Melbourne

☆ Wall Street suddenly appears confident America will avoid a recession
▼ + stars: | 2023-07-27 | by ( Krystal Hur | ) edition.cnn.com time to read: +4 min

The Dow Jones Industrial Average index has gained 3.2% this month, outperforming the S&P 500 and Nasdaq Composite. The Dow’s gains suggest that investors are starting to buy more economically sensitive stocks as recent data show inflation slowing. That, in turn, indicates they’re becoming increasingly optimistic that the economy could avoid a recession. Conventional Wall Street wisdom says gains in the blue-chip index tend to precede rallies across the broader market. The Dow Jones Transport Average Index, an index of 20 stocks including railroad, trucker, airline and freight companies, has gained 24% this year.

Persons: ”, Adam Phillips, That’s, Bryan Mena, Read, Matt Egan, “, Patrick De Haan Organizations: CNN Business, Bell, New York CNN, Dow Jones, Nasdaq, Big Tech, Wealth, Federal Reserve, Union Pacific Corporation, Ryder System, Dominion Freight Line, Fed, New, American Automobile Association Locations: New York, Russia, Ukraine

☆ Ron Baron has a rare long-term record of beating the market. Here's how he did it
▼ + stars: | 2023-07-26 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Billionaire investor Ron Baron is one rare active manager that has been outperforming the market since the 1980s, thanks to his eye for long-term growth. The 80-year-old investor founded Baron Capital in 1982, and 16 of his 19 mutual funds representing 98.8% of the firm's asset under management have beaten their benchmark since their inception dates. Similarly, Baron Capital considers stocks as representing part ownership of publicly traded businesses. The Baron Capital chairman and CEO has been known as a longtime bull in Tesla , a stock with a 46% weighting in the Partners fund. Baron Capital managed about $40 billion at the end of 2022.

Persons: Ron Baron, Morningstar, Baron, Warren Buffett's, Tesla, Charles Schwab Organizations: Baron Capital, Baron Partners Fund, Partners, SpaceX, Iridium Communications, Arch Capital Group, FactSet Research, Hyatt Hotels Locations: Tesla

☆ Home prices continue to climb with 'striking' regional differences, says S&P Case-Shiller
▼ + stars: | 2023-07-25 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +3 min

Home prices in May rose for the fourth straight month on the S&P CoreLogic Case-Shiller home price index, but regional differences are widening. The index's 10-city composite gained 1.1%, and the 20-city composite gained 1%. Current homeowners are reluctant to sell, given that most are paying mortgage rates that are less than half of today's rates. Demand returned after the initial jump in mortgage rates, as buyers seem to be getting used to a new normal. Correction: Home prices in May rose for the fourth straight month on the S&P CoreLogic Case-Shiller home price index.

Persons: Craig Lazzara, It's, Hannah Jones Organizations: Midwest Locations: U.S, Chicago, Cleveland, New York, Seattle, San Francisco

☆ History shows a nice trading setup for Apple going into earnings
▼ + stars: | 2023-07-25 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

If history is any guide, expect a positive setup for Apple shares should the company raise expectations for the September quarter when it reports earnings Aug. 3, Morgan Stanley said. "History would show that June quarter earnings is a positive stock catalyst for Apple, and Sept quarter guidance matters most for Apple's stock," he added. Apple has beaten June earnings estimates every time in the last decade by 9% on average, and Morgan Stanley expects the company to do it again. "With our September quarter revenue and EPS 4-9% above current Consensus, and a shade above buyside expectations, we expect earnings to be a positive catalyst for Apple shares next week," Woodring said. Apple shares have rallied nearly 49% since the start of 2023.

Persons: Morgan Stanley, Erik Woodring, Woodring, — CNBC's Michael Bloom Organizations: Apple, Management Locations: Apple's

☆ Stocks, bonds, commodities or cash? Citi and others reveal how to allocate right now
▼ + stars: | 2023-07-25 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

As the S & P 500 's year-to-date rally nears 20%, some investors have questioned whether stocks could be nearing a tipping point. Here's what Citi, TS Lombard and the Wells Fargo Investment Institute advise. More gains to come for U.S. stocks: Citi Citi in a July 23 note said that while in the early months of 2023, the bull market was "very narrow," it believes markets could recover more broadly soon. The bank added that real yields could reach 4% above inflation over the next five years, "therefore, buying bonds in lieu of cash is advisable." Buying bonds would allow investors to lock in today's bond yields, but real yields would rise if inflation falls.

Persons: VIX, Wells, Lombard Organizations: Federal, Citi, TS Lombard, Wells, Investment Institute, Citi Citi, Citi Research, Wells Fargo Wells Fargo Investment Institute Locations: U.S, Wells Fargo Wells Fargo, Brazil, Mexico, India

☆ The 'broadening out' rally is real. Here's how to play it
▼ + stars: | 2023-07-25 | by ( Bob Pisani | ) www.cnbc.com time to read: +3 min

The S & P 500 is up 2.3% this month, but the market really is broadening out , and former market leaders (tech and consumer discretionary) are lagging. You might be surprised to discover that about 60 of the 100 companies in the Nasdaq 100 are not technology companies. The Nasdaq 100 includes Airbnb, Marriott, Costco, GE Healthcare, Ross Stores, and Honeywell. First Trust Nasdaq-100 Ex-Technology ( QQXT ) tracks an equal-weighted index of Nasdaq 100 stocks that excludes technology companies. The ProShares S & P Ex-Technology ETF ( SPXT ) tracks a market-cap-weighted index of U.S. large-cap stocks, excluding firms in the technology sector.

Persons: Banks, Russell, Todd Sohn, Dan Ives, Rush, Ives Organizations: Energy, Dow, Technology, Nasdaq, GE Healthcare, Ross Stores, Honeywell, There's, Trust, Ex, Microsoft, Nvidia, Thrones, Oracle, Apple, IBM, Meta, Adobe Locations: Financials, Marriott, Costco

☆ Big investors sold tech stocks ahead of key earnings reports, Bank of America says
▼ + stars: | 2023-07-25 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

Some of the market's biggest investors were taking risk off the table ahead of this week's busy slate of earnings reports and a Federal Reserve meeting, according to Bank of America. Strategist Jill Carey Hall said in a note to clients on Tuesday that last week the bank's clients sold historically high amounts of individual stocks. "Clients sold stocks in seven of the 11 sectors, led by Tech and Communication Services, with record weekly outflows from both sectors. XLK YTD mountain Tech sector funds like the XLK are outperforming in 2023. Several of the biggest tech and communications companies have earnings reports this week.

Persons: Jill Carey Hall, — CNBC's Michael Bloom Organizations: Federal Reserve, Bank of America, Tech and Communication Services, Comm, Tech, Microsoft, Federal

Investors are awaiting Microsoft (MSFT.O), Google-owner Alphabet (GOOGL.O) and Meta Platforms (META.O) earnings this week, which will show whether their stocks justify sky-high valuations. The Nasdaq (.NDX) lagged other indexes as investors looked to non-tech stocks for bargains, lifting sectors from energy to banks. Helping the Dow (.DJI) notch its longest winning streak since February 2017, Chevron (CVX.N) gained almost 2% as the oil giant posted upbeat preliminary quarterly earnings over the weekend. Nine of the 11 major S&P 500 sectors rose, led by a gain in energy stocks (.SPNY). The S&P 500 posted 22 new 52-week highs and one new low; the Nasdaq Composite recorded 58 new highs and 97 new lows.

Persons: Barbie, Randy Frederick, You've, Carol Schleif, Toymaker Mattel, AMC's, decliners, Carolina Mandl, Bansari Mayur Kamdar, Johann M, Shounak Dasgupta, Anil D'Silva, Richard Chang Organizations: Dow, Nasdaq, Mattel, Chevron, Dow Jones, Federal Reserve, Schwab Center, Financial Research, Microsoft, Google, Investors, BMO Family Office, Reuters, AMC Entertainment, NYSE, Thomson Locations: New York, Bengaluru

Investors are awaiting Microsoft (MSFT.O), Google-owner Alphabet (GOOGL.O) and Meta Platforms (META.O) earnings this week, which will show whether their stocks justify sky-high valuations. The Nasdaq (.NDX) lost steam during the session as investors looked to non-tech stocks for bargains, lifting sectors from energy to banks. Barclays' head of U.S. equity strategy Venu Krishna said in a note to clients that investors are differentiating between tech companies. A few Big Tech names are driving all of the earnings upside, while the outlook for the "Rest of the Tech" is deteriorating, he said. Helping the Dow (.DJI) notch its longest winning streak since February 2017, Chevron (CVX.N) gained as the oil giant posted upbeat preliminary quarterly earnings over the weekend.

Persons: Barbie, Randy Frederick, Venu Krishna, You've, Carol Schleif, Toymaker Mattel, AMC's, Carolina Mandl, Bansari Mayur Kamdar, Johann M, Shounak Dasgupta, Anil D'Silva, Richard Chang Organizations: Chevron, Dow, Dow Jones, Federal Reserve, Schwab Center, Financial Research, Microsoft, Google, Nasdaq, Barclays, Big Tech, Tech, Investors, BMO Family Office, Reuters, AMC Entertainment, Thomson Locations: U.S, New York, Bengaluru

The action-packed week also includes the Fed's policy meeting, with the central bank expected to raise interest rates by 25 basis points on Wednesday. As of Friday, second-quarter earnings are expected to decline by 7.9%, according to Refinitiv data. The tech-heavy Nasdaq (.IXIC) has rallied 34% so far this year, outperforming its Wall Street peers, as rate-sensitive megacap growth companies jumped on hopes of an end to the Fed's tightening cycle and optimism over AI. Ten of the 11 major S&P 500 sectors were higher, led by a 2.1% gain in energy stocks (.SPNY). The S&P index recorded 14 new 52-week highs and one new lows, while the Nasdaq recorded 41 new highs and 67 new lows.

Persons: Barbie, Chris Zaccarelli, Toymaker Mattel, AMC's, Bansari Mayur Kamdar, Johann M, Shounak Dasgupta, Anil D'Silva Organizations: Chevron, Dow, Nasdaq, Federal Reserve, Microsoft, Google, Reuters, Independent, Alliance, Dow Jones, AMC Entertainment, NYSE, Thomson Locations: Bengaluru

Last week, Netflix (NFLX.O) and Tesla (TSLA.O) posted less-than-stellar quarterly reports. The electric-vehicle maker eased 1.3% in premarket trading after UBS downgraded its rating on the stock, while other megacap growth and technology shares edged higher. ET, Dow e-minis were up 44 points, or 0.12%, S&P 500 e-minis were up 8.75 points, or 0.19%, and Nasdaq 100 e-minis were up 35.25 points, or 0.23%. AMC Entertainment (AMC.N) jumped 47.5% after a judge blocked the theater chain's stock conversion plan that risked diluting investors' holdings in the company. Reporting by Bansari Mayur Kamdar and Johann M Cherian in Bengaluru; Editing by Saumyadeb Chakrabarty and Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Barbie, Sophie Lund, Yates, Hargreaves Lansdown, Mattel, AMC's, Bansari Mayur Kamdar, Johann M, Saumyadeb Chakrabarty, Shounak Organizations: UBS, Dow, Nasdaq, Federal Reserve, Microsoft, Netflix, Reuters, Fed, Dow e, Warner Bros, AMC Entertainment, Global, PMI, Thomson Locations: Bengaluru

☆ China vows to 'adjust and optimize' property policy in 'tortuous' economic recovery
▼ + stars: | 2023-07-24 | by ( Clement Tan | ) www.cnbc.com time to read: +8 min

The post-pandemic economic recovery will proceed in a "wave-like" fashion in a "tortuous" process, it added. On Tuesday, Hong Kong and mainland China stock markets cheered the Politburo's policy pledges, outperforming broader Asia-Pacific benchmarks. The Chinese property sector saw some of the strongest percentage gains in Hong Kong, with developer Country Garden rebounding more than 14% from a nine-month low. By some calculations, the country's property sector still accounts for up to a quarter of China's annual economic activity. Expanding domestic demandLate Monday, China's top leaders pledged to "actively expand domestic demand" and to "expand consumption by raising income levels."

Persons: Xi Jinping, Li Qiang, China Vanke, Goldman Sachs, China's, Julian Evans, Pritchard Organizations: Getty, Communist, Xinhua, Barclays, Index, CSI, Longfor, China Overseas, Observers, Citi, People's Bank, China's, National, Capital Economics Locations: China, Hong Kong, outperforming, Asia

☆ These blockchain ETFs are soaring, but investors seem skeptical
▼ + stars: | 2023-07-23 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

Many of the best performing thematic ETFs this year are related to cryptocurrencies and the blockchain as bitcoin rebounds, but investors have so far declined to embrace the rally. The Global X Blockchain ETF (BKCH) and the Bitwise Crypto Industry Innovators ETF (BITQ) , for example, are both up nearly 200% year to date. BKCH YTD mountain This Global X blockchain ETF has nearly tripled in price in 2023. ETF investors looking for crypto exposure could also be waiting for a more pure-play product. However, Weiskopf said that he thinks there is room for direct crypto exposure and blockchain funds.

Persons: bitcoin, Dan Weiskopf, —, it's, Weiskopf, BLOK Organizations: Innovators, Tidal Financial, BLOK, Global, Robotics, Intelligence, Securities, Exchange, Coinbase, Securities and Exchange Commission, BlackRock

CNBC Pro screened for companies scheduled to report earnings next week and found the ones that have a history of outperforming analyst expectations. The following stocks have beat analyst expectations for earnings at least 70% of the time, and on average rise at least 1% following their earnings report, according to data from Bespoke Investment Group. Visa Global payments company Visa , which is set to report Tuesday, has beaten earnings and revenue forecasts 95% and 89% of the time, respectively. The company will report results Monday after the main trading session. The company has a 75% record of beating Wall Street's expectations during its quarterly earnings reports.

Persons: Oppenheimer, Wall, CNBC's Michael Bloom, Fred Imbert Organizations: Google, Microsoft, Intel, Social, NXP Semiconductor, Investors, Procter, Gamble, Companies, CNBC Pro, Investment, Visa Global, Visa, Logitech Computer, Logitech

☆ Here are Friday's biggest analyst calls: Nvidia, Amazon, Carvana, Roku, Microsoft, Eli Lilly and more
▼ + stars: | 2023-07-21 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Truist reiterates Amazon as buy Truist said it's bullish heading into Amazon earnings Aug. 3. Piper Sandler upgrades SL Green to overweight from neutral Piper Sandler said in its upgrade of SL Green that the real estate investment trust has "favorable tailwinds." Piper Sandler downgrades Discover to neutral from overweight Piper Sandler said in its downgrade of the credit card company that it sees too many negative catalysts. Piper Sandler downgrades Carvana to neutral from overweight Piper Sandler downgraded the online used-car company mainly on valuation. Sirius' stock price has more than doubled over the past month and increased 42% yesterday alone.

Persons: . Bank of America downgrades Herc, Herc, Underperform, KeyBanc, it's, Truist, Piper Sandler, Piper Sandler downgrades Carvana, JPMorgan downgrades Blackstone, Morgan Stanley, Eli Lilly, Davidson, Davison, Oppenheimer, Baird, Wedbush, Goldman Sachs Organizations: . Bank of America, . Bank of America downgrades Herc Holdings, Bank of America, Hollywood, NA, Green, DFS, JPMorgan, Novo Nordisk, BMO, Consolidated Edison, of America, Deutsche Bank, Sirius, Nvidia, Microsoft Locations: 2Q23

☆ Barbie is everywhere this summer. Here are the stocks that can benefit from the highly anticipated film
▼ + stars: | 2023-07-21 | by ( Alex Harring | ) www.cnbc.com time to read: +8 min

But can the same be said for Mattel shares? Mattel stock is up more about 19% on a year to date basis after a mixed start to the year. Into the Barbie release, the stock reflects the growing buzz. Mattel shares moved from $17.59 on June 1 to breaking into the $20 range for the first time since February. Though Barbie is not a typical film in the space given its adult audience, Jefferies analyst Andrew Uerkwitz said, it can still help Mattel sales incrementally.

Persons: Gordon Haskett, Don Bilson, Greta Gerwig, Margot Robbie, Ryan Gosling, Bilson, Goldman Sachs, Stephen Laszczyk, Davidson, Linda Bolton Weiser, Bolton Weiser, Barbie, Brett Feldman, Jefferies, Andrew Uerkwitz, Roth, David Bellinger, Bellinger, Mario, Morgan Stanley, Benjamin Swinburne, ramped, Oppenheimer, Laszczyk, David Karnovsky, Karnovsky, — CNBC's Michael Bloom Organizations: Mattel, Warner Bros, Lions, Lions Gate, Hasbro, MAT, Analysts, Universal Pictures, Mario Bros, Hollywood, JPMorgan, CNBC, Alliance, Television Producers, Guild of America Locations: 2H23

☆ JPMorgan sees 'material upside' for this once-troubled regional bank
▼ + stars: | 2023-07-20 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

Western Alliance has put the spring's regional banking crisis in the rearview mirror and will be able to sustain its recent rally, according to JPMorgan. Shares of the bank rose more than 7% on Wednesday after the report was released. WAL 5D mountain Shares of Western Alliance rose sharply on Wednesday. But even with that rally, the stock is still down about 37% from where it ended February, before the regional banking crisis. The firm's new price target represents upside of nearly 30% from where Western Alliance's shares closed on Wednesday.

Persons: Steven Alexopoulos, Alexopoulos, FactSet's, — CNBC's Michael Bloom Organizations: Western Alliance, JPMorgan, Western Locations: Republic

☆ Bitcoin has a ‘massive uphill battle to fight’ to retake earlier levels, Wolfe says
▼ + stars: | 2023-07-20 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

"Crypto still has struggled to see a meaningful run," Wolfe Research strategist Rob Ginsberg said in a note Wednesday. A crypto asset's "dominance" measures how much of it makes up the total cryptocurrency market cap. Investors use it to determine which parts of the crypto market are outperforming or underperforming relative to their peers and to identify changes in trend. "The coin still has a massive uphill battle to fight if it plans on retaking former levels. Crypto equities — miners Marathon and Riot , crypto exchange Coinbase , and bitcoin proxy MicroStrategy in particular — have been outperforming bitcoin as well, Ginsburg noted.

Persons: Bitcoin, bitcoin, Crypto, Wolfe, Rob Ginsberg, Ginsburg, it's, Michael Bloom Organizations: Wolfe Research, BlackRock, U.S ., SEC, Coinbase

☆ Hikma, Fresenius shares rally after tornado hits rival Pfizer's U.S. plant
▼ + stars: | 2023-07-20 | by ( Lucy Raitano | ) www.reuters.com time to read: +2 min

Nearly 25 percent of all sterile injectables used in U.S. hospitals are produced at the Rocky Mount facility, according to Pfizer's website. Hikma shares rose by as much as 9.4% in their largest one-day increase since last September, hitting an 18-month high. Pfizer is the largest supplier in the U.S. injectables market and Hikma is the second-largest, analysts said. Hikma has a market value of around $5.6 billion, compared with Pfizer's $205.7 billion and Fresenius SE's $16.7 billion, according to Refinitiv data. Pfizer shares were up 0.16% in premarket trading.

Persons: Fresenius, Max Herrmann, Herrmann, Hikma, J.P.Morgan, Amanda Cooper, Jan Harvey, Mike Harrison Organizations: Pfizer, Rocky, U.S . Food, Drug Administration, Thomson Locations: U.S, Rocky Mount, North Carolina, Hikma

☆ Shares in Pfizer rivals Hikma, Fresenius rally after tornado hits factory
▼ + stars: | 2023-07-20 | by ( Lucy Raitano | ) www.reuters.com time to read: +1 min

Hikma shares rose by as much as 9.4% in their largest one-day increase since last September. Pfizer is the largest supplier in the U.S. injectables market and Hikma is the second-largest, analysts said. Hikma, which has a market value of around $5.6 billion compared with Pfizer's $205.7 billion, might struggle to meet demand, Herrmann said. European healthcare stocks (.SXDP) were up around 0.7% on the day, outperforming the broader STOXX 600 (.STOXX), which rose 0.4%. Pfizer shares were up 0.16% in premarket trading.

Persons: Fresenius, Max Herrmann, Herrmann, Hikma, Amanda Cooper, Jan Harvey Organizations: Pfizer, Reuters, Thomson Locations: U.S, Rocky Mount, North Carolina, Hikma

☆ Bank stocks volatile on mixed results, Discover sinks amid regulatory review
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: +3 min

July 20 (Reuters) - Bank stocks were volatile in premarket trading on Thursday as lenders reported mixed quarterly results, while shares of Discover Financial Services (DFS.N) tanked after it disclosed a regulatory review over some of its credit products. Meanwhile, two major mid-sized banks missed quarterly profit estimates, while one came ahead of Wall Street expectations on Thursday. KeyCorp (KEY.N) shares dropped 2.7% after the bank's profit plunged 50% and it forecast a decline in net interest income. They fell 5.7% in the second quarter compared with a year earlier. Outperforming peers, Fifth Third Bancorp's (FITB.O) shares rose 1.9% premarket as the bank's quarterly profit topped expectations, even as it trimmed its growth forecast for full-year NII.

Persons: Zions, Manya Saini, Jaiveer Shekhawat, Sri Hari, Shweta Agarwal, Krishna Chandra Organizations: Bank, Discover Financial Services, Discover, Federal Deposit Insurance Corporation, Truist, Major, Thomson Locations: Truist, Major U.S, Bengaluru

"The luxury industry seems to be outperforming the consumer market as a whole in China, but you know, really, almost everyone you speak to, there's a level of uncertainty," said Agility's managing director Amrita Banta. "There's a level of not feeling entirely comfortable with their future economic position that is really affecting almost everybody in China." Those factors disproportionately affect "aspirational" luxury customers who can easily live without another Gucci bag or $900 pair of sneakers. In China, luxury consumers are younger than in the rest of the world with an average age of 28, according to BCG - something companies had seen as positive for future growth. "In the trends that I'm seeing in the U.S. and also in China, more aspirational younger consumers are feeling more of a pain," Morningstar senior equity analyst Jelena Sokolova said.

Persons: Richemont, splurge, Morgan Stanley, Hermes, Chanel, Amrita Banta, Dior, Balenciaga, Gucci, Jelena Sokolova, HSBC's Erwan, Rambourg, Casey Hall, Mimosa Spencer, Catherine Evans Organizations: Cartier, Citigroup, Richemont, Citi, LVMH, Bain, Morningstar, Thomson Locations: SHANGHAI, PARIS, China, North America, Wuhan, Zhengzhou, Charlotte, Nashville, Swiss, Americas, Asia, United States, luxury's, U.S, Japan

☆ Chipotle is becoming a huge hit in small towns, and it's hurting chains like Chick-fil-A, McDonald's, and Texas Roadhouse
▼ + stars: | 2023-07-19 | by ( Nancy Luna | ) www.businessinsider.com time to read: +4 min

Now, it's expanding to small towns and hurting chains like Chick-fil-A, according to Placer.ai. Popular steak house chain Texas Roadhouse, which is 1.6 miles from the new Chipotle, saw year-over-year traffic slide by 5.27% in April and by 3.92% in May 2023. A Chick-fil-A less than a mile from Chipotle, saw foot traffic decrease four out of five weeks in May, Placer.ai reports. "I don't see how Chipotle's brand can transfer to small towns." Chipotle isn't betting all of its growth on small towns.

Persons: Chipotle, Placer.ai, Jack Hartung, Tim Powell, Zers, Powell Organizations: Service, Wall Street, Placer.ai, Texas, X Locations: Wall, Silicon, Chipotle, America, Texas, San Angelo , Texas, The Texas, McDonald's, Covington , Louisiana, Camden , Delaware, Washington, Canada, France, Germany

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