Core Insights - LVMH reported a 4% decline in revenue for the first half of 2025, totaling €39.81 billion, with organic revenue down 3% [2] - Operating profit decreased by 15% to €9.01 billion, while net profit fell by 22% to €5.69 billion [2] - The fashion and leather goods segment, including brands like LV and Dior, was the worst-performing area, with revenue of €19.11 billion and an organic revenue decline of 7% [2] Business Segment Performance - Fashion and Leather Goods: Revenue of €19.11 billion, organic revenue down 7%, with a significant decline in Q2 [2] - Selective Retailing: Revenue of €8.62 billion, organic revenue growth of 2% [2] - Watches and Jewelry: Revenue of €5.09 billion, organic revenue flat [2] - Perfumes and Cosmetics: Revenue of €4.08 billion, organic revenue flat [2] - Wines and Spirits: Revenue of €2.59 billion, organic revenue down 7% [2] Regional Performance - Other Asian regions, excluding Japan and including China, contributed 28% of total revenue [2] - The U.S. market accounted for 25% of revenue, while other European regions contributed 17% [2] - France and Japan each represented 8% of total revenue [2] - Japan experienced a 15% decline in organic revenue, while the Asian region's decline slowed down; the U.S. market saw a slight decrease of 1% [2] Management Commentary - LVMH's CEO Bernard Arnault emphasized the company's resilience and the strength of its iconic brands, despite the economic uncertainty impacting luxury demand [3] - The performance reflects the ongoing challenges in the luxury market, particularly in Asia, with LVMH's revenue and core business income decline exceeding Wall Street expectations [3]

Group 1 - The U.S. real estate market has experienced its weakest spring sales season in 13 years, with the number of signed home sales contracts from April to June reaching the lowest level since 2012 [1] - Despite a decrease in mortgage rates and a slowdown in home price growth, economic uncertainty driven by Trump's tariff policies has led potential buyers to adopt a wait-and-see approach [1][2] - Concerns about the future economic outlook have exacerbated the situation, with many buyers feeling anxious and cautious, further suppressing demand [2][3] Group 2 - The spring season, typically a peak time for real estate transactions, has seen low activity levels despite some price reductions in certain areas [2] - Sellers are increasingly withdrawing properties from the market to avoid selling at unfavorable prices, which limits the available inventory [2] - Affordability in the real estate market has reached its lowest level since the 1980s due to prolonged high borrowing costs, impacting buyer assumptions about refinancing [3]

Group 1 - Wall Street professionals are closely monitoring an upcoming critical week that may set the tone for the US stock market and economy for the remainder of the year, with key events including the Federal Reserve meeting and earnings reports from major tech companies like Amazon, Apple, Meta, and Microsoft [1][2] - The S&P 500 companies have generally exceeded expectations, with profits increasing by 4.5% compared to the same period last year, indicating a potential recovery in the second half of the year [2][3] - Consumer demand is being driven by wealthier consumers, with companies like American Airlines and United Airlines reporting strong demand for premium services, while Chipotle has lowered its earnings forecast due to pressure on low-income consumers [3][4] Group 2 - Economic uncertainty persists as the impact of tariffs begins to show, with economists predicting a slowdown in consumer spending and a potential rise in unemployment [4][5] - Despite uncertainties, the stock market remains at historical highs, supported by signals of a strong labor market and corporate earnings exceeding lower expectations [5]

Group 1 - The upcoming week is critical for the market, with key events including the Federal Reserve's interest rate decision, earnings reports from major tech companies like Amazon and Apple, and important economic indicators such as GDP and non-farm payroll data [1][3] - Evercore ISI strategist Julian Emanuel describes this week as a "truth moment" for the market, emphasizing the significance of the data flow in assessing investor confidence in the resilience of the U.S. economy and stock market [3] - The S&P 500 companies are generally exceeding expectations, with profits rising by 4.5% year-over-year, indicating a positive outlook for the second half of the year [3][6] Group 2 - Economic data presents a mixed picture, with expectations for a significant rebound in Q2 GDP following a contraction due to a surge in imports earlier in the year [7] - Analysts predict that consumer spending adjusted for inflation in June will show little to no growth, and hiring is expected to continue slowing down, with a slight increase in the unemployment rate [7][11] - The preferred inflation indicator of the Federal Reserve, the Personal Consumption Expenditures (PCE) price index, is anticipated to accelerate due to the impact of tariffs [7][11]

Core Viewpoint - The Reserve Bank of New Zealand indicates that economic uncertainty will suppress spending and investment [1] Economic Impact - Economic uncertainty is expected to lead to reduced consumer spending and lower levels of investment [1]

Randstad N.V. (OTCPK:RANJF) Q2 2025 Earnings Conference Call July 23, 2025 3:00 AM ET We continue to benefit from our focus on operational excellence, and most importantly, we are seeing the benefits of our strategy coming through in our performance. We've seen a mixed picture across our markets with different trends and dynamics at play. We continue to deliver good profitable growth in Italy and Spain. We had growth returning in APAC, where India and Japan are doing particularly well. We saw sequential imp ...

不对国债收益率上涨置评。 日本央行副行长内田真一表示，更低的不确定性将对经济有正向影响。 ...

Group 1 - The core viewpoint is that the Deputy Governor of the Bank of Japan, Shinichi Uchida, has indicated that economic uncertainty may pose a downside risk to inflation [1] Group 2 - The statement reflects concerns regarding the potential impact of economic fluctuations on inflation rates [1] - The Bank of Japan's stance suggests a cautious approach to monetary policy in light of these uncertainties [1] - This commentary may influence market expectations regarding future interest rate adjustments by the Bank of Japan [1]

Core Viewpoint - Gold prices have shown volatility, with recent fluctuations influenced by geopolitical tensions, economic uncertainties, and central bank gold purchases, while the market anticipates potential interest rate cuts from the Federal Reserve [3][4]. Price Movement Analysis - As of July 22, gold is trading around $3,388 per ounce, having experienced a rebound after stabilizing at $3,345, breaking through the key resistance level of $3,376, and reaching a high of $3,400 [1][3]. - The breakout of the $3,376 resistance has turned it into a significant support level, indicating that the bullish trend remains intact despite recent fluctuations [1][3]. Technical Analysis - On the daily chart, gold has established support at the $3,376 level, with short-term resistance focused in the $3,400 to $3,420 range, where $3,420 aligns with historical high points [4][6]. - The 4-hour chart indicates strong support near the Bollinger Band midline at $3,380, and while the MACD shows signs of a potential pullback, there is no clear bearish signal yet, suggesting that bullish momentum is still building [4]. Trading Strategy - The recommended trading strategy includes entering long positions around $3,380, with protective stops set at $3,374, targeting the previous high of $3,402 [7]. - For aggressive traders, entering long positions at the current price of $3,388 is suggested, with plans to add to positions upon a pullback to $3,380 [7]. - Short positions are advised to be considered only after gold reaches the $3,420 resistance level [8].

Group 1: Gold Market Analysis - The current price of London gold is $3349.42 per ounce, showing a year-on-year increase of $10.43, which is a 0.31% rise [1] - Recent fluctuations in gold prices are attributed to geopolitical tensions, increased economic uncertainty, and central bank purchases supporting gold prices [1] - Conversely, the volatility of the US dollar index and changes in market risk appetite are also favorable for gold prices [1] Group 2: Indonesia-US Trade Agreement - Indonesia is in the process of negotiating the details of a new trade agreement with the United States, following a reduction in the tariff rate from 32% to 19% [2] - Indonesia is seeking exemptions for its exports of palm oil and nickel, along with other products such as cocoa, rubber, and coffee [2] - The US Treasury Secretary indicated the possibility of reaching a "good agreement" with Indonesia [2] Group 3: Technical Analysis of Gold Prices - On the daily chart, the Bollinger Bands are showing a narrowing opening, with gold prices operating above the middle band, indicating a rebound from oversold conditions [3] - The MACD indicator is showing signs of a potential bullish crossover, while the RSI is rebounding from oversold levels, suggesting strong bullish momentum [3] - On the hourly chart, gold prices are supported by the lower Bollinger Band and are experiencing a significant rebound, with key support at $3310 and resistance at $3380 [3]