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X @Bloomberg
Bloomberg· 2025-09-10 17:56
Mexico is looking to raise tariffs on cars made in Asia to as much as 50%, according to Economy Minister Marcelo Ebrard https://t.co/ICGF2dztR4 ...
Global-E Online (NasdaqGS:GLBE) FY Conference Transcript
2025-09-10 17:32
Summary of Global-E Online FY Conference Call Company Overview - **Company**: Global-E Online Ltd (NasdaqGS:GLBE) - **Industry**: Cross-border e-commerce Key Points Policy and Tariff Impact - The enforcement of tariffs has not significantly impacted Global-E's business, with the U.S. market representing only about 12% of the company's Gross Merchandise Value (GMV) [2][3][4] - Luxury and celebrity brands have shown resilience to price increases due to tariffs, as consumers are less sensitive to price changes [4][5] - Brands are adjusting prices globally rather than specifically for the U.S. market to avoid social media backlash over price differentiation [4][5] - The removal of the de minimis exemption for products from China and Hong Kong affected about 3% of Global-E's market, but overall impact was minimal [13][18][21] - The company does not anticipate major disruptions in trade patterns despite tariff changes, as the U.S. tariffs are comparable to those imposed by other countries [22][23] Growth Drivers - The introduction of the 3B2C model is seen as a significant growth driver, allowing brands to reduce duty burdens by setting up a local entity in the U.S. [27][28] - The onboarding process for brands to switch to the 3B2C model is quick, taking only days to weeks [31][36] - There is growing interest from both existing and new brands in the 3B2C model due to the desire to offload duty management [36][41] - The company has a positive outlook for the second half of the year, with strong trading patterns and successful onboarding of multiple brands [43][44] AI and Technology - Global-E views AI as an opportunity rather than a threat, leveraging AI to enhance operational efficiencies and customer service [48][52] - The company has automated over 50% of its customer service operations using AI and is working on extending AI support to merchants [51][52] - Proprietary data and a service layer are critical to Global-E's operations, making it difficult for AI to replicate their business model [49][50] Shopify Partnership - The new multi-year partnership with Shopify focuses on a white-label solution for small-sized merchants, which is expected to unlock significant growth potential [55][56] - The partnership has evolved from an exclusive agreement to a more open model, which Global-E believes will not negatively impact its market position [61][62] - The company anticipates maintaining high win rates on Shopify, similar to other platforms, despite the changes in partnership dynamics [62] Other Considerations - The company has not provided specific guidance for 2026 but maintains a positive multi-year outlook based on current trends and brand onboarding success [43][44] - The management expresses confidence in their ability to navigate the evolving market landscape and capitalize on growth opportunities [44][62]
Will big investment promises bring back US manufacturing?
Yahoo Finance· 2025-09-10 16:48
Core Insights - The effectiveness of recent investments and tariffs in revitalizing U.S. manufacturing is uncertain and varies by industry [1][5][6] - The Trump administration claims that its tariff policies have spurred significant investments in manufacturing [5][6] - Major companies like TSMC and Apple are making substantial commitments to expand operations in the U.S., but challenges remain [21][22] Investment Commitments - Pratt Industries has pledged a $5 billion investment to "reindustrialize America" [3] - TSMC announced an additional $100 billion investment to expand its manufacturing footprint in Arizona, building on a previous $65 billion commitment [10][21] - Apple plans to invest an additional $100 billion on top of a previously announced $500 billion for expansions across 10 states [21][22] Tariff Implications - Trump's tariffs have created uncertainty, leading to hesitance in investment and hiring among manufacturers [15][16] - A federal appeals court ruled that Trump's use of emergency powers for tariffs was illegal, with a Supreme Court review pending [7] - Tariffs have raised costs for U.S. manufacturers reliant on imported raw materials and components [20][23] Market Dynamics - The semiconductor sector is particularly affected, with companies like Texas Instruments and TSMC making large investments amid competitive pressures [9][11] - The reliance on global supply chains remains critical, as U.S. manufacturers sourced 31% of their intermediate inputs from imports [21][20] - Economic uncertainty and high tariff costs are impacting profit margins and investment decisions for companies [24][23]
Wholesale inflation unexpectedly fell in August, teeing up Fed for interest rate cut next week
New York Post· 2025-09-10 16:03
Group 1: Wholesale Price Trends - The Producer Price Index (PPI) declined by 0.1% in August, contrary to expectations of a 0.3% increase, indicating that businesses are absorbing tariff costs [1][6] - Core PPI, excluding food and energy, also fell by 0.1% month-over-month, with a year-over-year increase of 2.8% [2] - Companies are reportedly holding off on price hikes due to factors such as foreign suppliers discounting, weak domestic demand, and uncertainty regarding future tariff rates [7] Group 2: Impact of Tariffs - Some imported goods, like tobacco and coffee, showed significant price increases, with tobacco rising by 2.3% in August and coffee prices increasing by 6.9%, marking a 33.3% rise over the past year [3] - Overall, wholesalers and retailers have been slow to pass tariff costs onto consumers, as they are aware of consumer inflation concerns [4] Group 3: Economic Indicators and Federal Reserve Response - Services prices dropped by 0.2% in August, contributing to the overall decline in the PPI, with trade services experiencing a 1.7% drop, the largest since 2009 [10] - The Federal Reserve is expected to cut interest rates, with traders placing 100% odds on a cut at the upcoming meeting, driven by tame inflation data [8][10] - The labor market shows signs of weakness, with average payroll growth at just 29,000 over the past three months, below the breakeven level needed to maintain steady unemployment [12]
Producer prices fall, bolstering argument for Fed rate cut
Yahoo Finance· 2025-09-10 15:55
Group 1 - The latest Producer Price Index (PPI) data indicates a slight decline, which contrasts with persistent price pressures above the Federal Reserve's target [3][7] - Core inflation, measured by the personal consumption expenditures price index excluding food and energy, increased to 2.9% in July, while the core consumer price index rose at a 3.1% annual rate [3][5] - The PPI unexpectedly decreased by 0.1% in August, with service costs falling by 0.2%, while the annual increase was 2.6%, surpassing the Fed's long-term inflation target of 2% [7] Group 2 - Traders in interest rate futures have raised the likelihood of a 0.75 percentage point cut in the benchmark interest rate by December, with a 73% probability noted [4] - Fed officials have shown concern regarding signs of weakness in the job market and are leaning towards loosening monetary policy despite inflation being above target [5] - Import duties are expected to raise prices by 1% to 1.5% temporarily, with the impact fading by the second half of 2026 [6]
Trump Applauds Rare Positive Economic Report: Wholesale Prices Unexpectedly Fell Last Month
Forbes· 2025-09-10 15:40
Core Insights - Wholesale prices unexpectedly declined by 0.1% in August, contrary to Wall Street's expectation of a 0.4% increase, as reported by the Bureau of Labor Statistics [1][2] - This decline marks the first decrease in wholesale prices since a 0.3% drop in April, indicating potential shifts in market dynamics [2] - The headline Producer Price Index (PPI) increased by 2.6%, significantly below the estimated 3.3% rise and July's 3.1%, while core PPI also fell unexpectedly by 0.1% [2] Price Movements - The decrease in wholesale prices was influenced by a 2.3% increase in tobacco product prices, alongside a 2% rise in portfolio management costs and a notable 6.9% increase in coffee prices [3] Economic Context - Upcoming consumer price index data is anticipated to show inflation rising to 2.9% in August from 2.7% in July, which will be critical for the Federal Reserve's interest rate decisions [4] - The Federal Reserve is currently considering a potential interest rate cut, with Wall Street assigning a 100% probability to this outcome [4] Market Reactions - President Trump praised the wholesale prices report, interpreting it as a sign of no inflation and urging the Federal Reserve to lower interest rates [5] Labor Market Insights - Recent unemployment data indicated a rise in the unemployment rate to 4.3% in August, which was above expectations, highlighting a deteriorating labor market [6] - The jobs report revealed that the U.S. had more unemployed individuals (7.2 million) than job openings (7.18 million) for the first time since April 2021, suggesting increased labor market uncertainty [6]
Prologis (NYSE:PLD) 2025 Conference Transcript
2025-09-10 14:37
Financial Data and Key Metrics Changes - Prologis has $200 billion in assets across 1.3 billion square feet in 20 countries, with a development franchise averaging $4.5 billion annually [2][3] - The company has a land bank with $42 billion of investment opportunity, equating to nearly 10 years of development potential [3] - The build-to-suit activity reached a record $1.1 billion in the first half of the year, with eight new build-to-suit projects signed in the third quarter [10][11] Business Line Data and Key Metrics Changes - The leasing pipeline stood at 130 million square feet, with improvements in the conversion of new leasing proposals to signed leases, although still below historical norms [7][19] - Larger space sizes, particularly those over 250,000 square feet, have been leasing better, with strong activity noted in LATAM and Southeast U.S. markets [14][31] Market Data and Key Metrics Changes - The company noted a slowdown in leasing activity due to tariff concerns, but this has improved over the past few months, with a more positive sentiment emerging [5][6] - Vacancy rates are expected to build slightly over the next two to three quarters, with a forecasted bottoming out below 8% in the U.S. [20][24] Company Strategy and Development Direction - Prologis emphasizes a strategy focused on quality earnings and a high-quality portfolio in logistics real estate, targeting markets with significant populations and high household incomes [67] - The company is exploring new capital sources and joint ventures to expand its $65 billion in third-party assets under management [51] - The Essentials business aims to provide additional services to smaller and medium-sized enterprises, enhancing customer relationships and contributing to EBITDA [48][49] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding demand trends, noting that the impact of new supply has been more muted than expected [73] - The company anticipates a reset in occupancy and rental rates by 2026, with expectations of returning to typical growth levels thereafter [76][78] - The ongoing e-commerce growth and challenges in new supply are seen as favorable for the logistics sector [58][59] Other Important Information - Prologis is focusing on AI and data center conversion opportunities, leveraging its existing logistics buildings for future use [43][44] - The transaction market is showing signs of improvement, with a 15% increase in volume year-to-date and multiple bidders for transactions [39][40] Q&A Session Summary Question: Has tenant decision-making improved post-tariff concerns? - Yes, there has been a positive momentum in leasing activity, with improvements in the conversion of proposals to signed leases [5][6] Question: What are the trends in box sizes and market activity? - Larger spaces are leasing better, with strong activity in LATAM and Southeast U.S. markets, while Europe has also shown good build-to-suit volume [14][31] Question: How is Prologis addressing the leasing pipeline? - The company is actively working to convert deals in the pipeline, focusing on optimizing occupancy and rent change rates [19][20] Question: What is the outlook for net absorption and vacancy rates? - The company expects net absorption to be between 75 and 100 million square feet for the year, with vacancy rates projected to bottom out in the coming quarters [24][25] Question: How is the transaction market performing? - The transaction market is improving, with a 15% increase in volume year-to-date and relatively flat values guided by appraisals [39][40] Question: What are the company's plans regarding AI initiatives? - The company plans to increase spending on AI initiatives in the coming year [62] Question: How does Prologis view the future growth of the logistics sector? - The company believes growth will remain stable, supported by favorable supply and demand dynamics [58][59]
Trump floats 100% tariffs on China, Klarna raises $1.37 billion in IPO
Yahoo Finance· 2025-09-10 13:50
Market Trends & Economic Indicators - Markets are bracing for inflation data, with the Producer Price Index (PPI) expected to rise 03% month-on-month, a slowdown from July's 09% gain, and hold steady at 33% annually [2][3] - Gold prices are climbing, driven by Fed easing expectations and a flight from fiat currencies, with potential implications for crypto, especially Bitcoin [27][28][29] Trade & Tariffs - Former President Trump floated the idea of 100% tariffs on China and India, contradicting his claims of successful negotiations with India [3][4] - The Supreme Court will review the legality of Trump's tariffs, with a resolution expected as early as November [4] Company Performance & IPOs - Cloner's IPO values the online lender at $15 billion, raising approximately $137 billion, with the IPO being oversubscribed by up to 25 times [2][23] - GameStop reported its fifth straight quarterly profit, with revenue up 22% year-over-year and net income surging to $1686 million from $148 million a year earlier, announcing a special warrant dividend worth up to $19 billion [31][32] - Synopsis reported soft earnings guidance due to restrictions on US chip sales to China, with shares sliding sharply, down more than 22% [33][34] - Chewy's shares were down over 7% despite sales rising by more than 8% and earnings meeting expectations, indicating Wall Street's demand for more than just meeting expectations [35][36] AI & Technology - Oracle's AI-fueled cloud revenue is projected to jump to $144 billion by its 2030 fiscal year, a significant increase from the projected less than $20 billion for the current fiscal year, driving the stock price up over 30% [12][13] - Taiwan Semiconductor Manufacturing Company (TSMC) posted a 34% rise in August revenue, indicating global demand for AI silicon, benefiting from its role as Nvidia's main chip maker [14][15] - CrowdStrike emphasizes the need for cybersecurity for AI agents, highlighting the massive opportunity and potential risks for enterprise companies [16][17][18] - Pinterest is experiencing a resurgence driven by visual search and AI-enabled shopping recommendations, with Gen Z comprising over 50% of its platform [38][39][44] - Pinterest's AI-driven visual search model outperforms off-the-shelf models by over 30 percentage points in shopping recommendation relevancy [45] - Apple managed to keep prices steady despite tariff pressures, with tariffs expected to cost $11 billion in the quarter ending this month [6][7]
Cooler US producer inflation hints at softening demand
Yahoo Finance· 2025-09-10 12:45
By Lucia Mutikani WASHINGTON (Reuters) - U.S. producer prices unexpectedly fell in August amid a compression in trade services margins and mild increase in the cost of goods, suggesting that domestic firms were probably absorbing some of the tariffs on imports. The lack of strong producer price pressures, despite import duties, could also be signaling softening domestic demand against the backdrop of a struggling labor market. The Federal Reserve is expected to cut interest rates at its policy meeting ne ...
X @Ash Crypto
Ash Crypto· 2025-09-10 12:36
PPI CAME IN 0.7% LOWER 🔥ACTUAL - 2.6%EXP - 3.3%THIS PROVES THAT INFLATION FROMTRUMP TARIFFS IS JUST TEMPORARY.GIGA BULLISH FOR MARKETS 🚀 ...