Core Insights - Dexelance reported a net loss of 7.8 million euros in the first half of 2025, a decline from a net profit of 1 million euros in the same period of 2024 [1] - Sales increased by 2.5 percent to 154.8 million euros for the six-month period ending June 30 [1] - The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) decreased to 10.4 million euros from 18.5 million euros in 2024 [3] Sales Performance - Growth was primarily driven by the luxury contract segment, which saw a year-on-year increase of 14.7 percent [2] - The luxury contract business, including Cenacchi International and Modar, has been a significant sales catalyst for several quarters [2] Financial Position - The net bank position of the company was reported at 17.1 million euros during the same period [1] - The decline in profitability was attributed to increased overhead costs due to investments in senior management, marketing, and digital expansion [3] Market Challenges - The ongoing macroeconomic situation and U.S. trade policies are viewed as major hurdles for the industry, particularly affecting residential brand sales in North America [5] - Despite challenges, the luxury contract business in North America remains strong due to limited competition [5] Tariff Impact - The company does not expect tariffs to significantly impact earnings, as costs will be absorbed by consumers and dealers, offset by the performance of its contract business globally [6] - A "custom tariffs" declaration was introduced on invoices to ensure transparency regarding the monetary impact of duties [6]

The markets are now pricing in a 15% chance of a 50 bp rate cut at the upcoming FOMC meeting on Sep 16-17, versus the previous expectations of a zero chance of that 50 bp rate cut. After the fully expected -25 bp rate cut at the Sep 16-17 meeting, the markets are now discounting an 81% chance of a second -25 bp rate cut at the Oct 28-29 meeting, up from a 54% chance as of late Thursday. The markets are now pricing in an overall -76 bp rate cut in the federal funds rate by year-end to 3.62% from the current ...

Market Overview - The S&P 500 has shown a year-to-date increase of just under 10%, recovering from a drop of nearly 14% in April due to various market factors [1][2] - Gold has emerged as one of the best-performing assets in 2025, with a year-to-date increase of 36%, significantly outperforming Bitcoin, which is up 21% [2][3] - Newmont Mining's stock has more than doubled year-to-date, making it one of the few S&P 500 constituents to achieve such growth [2] Gold Market Insights - Newmont Mining's profitability remains strong, with production costs significantly lower than the current gold prices, trading at about eight times enterprise value to EBITDA [3] - Market volatility tends to favor gold and similar assets, with factors such as tariff fluctuations and interest rate uncertainties contributing to gold's price increase [4][5] Figma's IPO and Earnings Report - Figma's stock has declined approximately 17% following its earnings report, reflecting concerns over decelerating growth, with revenue growth dropping from 46% at IPO to 41% in the latest quarter, and an expected 33% for the next quarter [8][9] - The net dollar retention rate has also decreased from 132% at IPO to 129%, indicating a slowdown in customer spending growth [8][9] - Figma's valuation remains high at around 26 times expected revenue, raising concerns about future growth sustainability [9][10] Upcoming IPOs - Upcoming IPOs include notable companies such as Gemini, a crypto exchange founded by the Winklevoss Twins, which has innovative products but faces a crowded market [15][16] - Black Rock Coffee Roasters is another company going public, showing strong same-store sales growth but has a complex corporate structure that may not be favorable for minority shareholders [16][17] - Figure Technologies aims to innovate lending using blockchain technology, currently focusing on home equity lines of credit, but faces challenges with accounting weaknesses [17][18]

The annual cost-of-living adjustment for Social Security benefits is based on how inflation is running in the third quarter. The formula reflects monthly changes for July, August and September for the Consumer Price Index for Urban Wage Earners and Clerical Workers.Social Security benefits would increase beginning with December benefits, which are payable January 2026. Federal Supplement Security Income payments would increase for January but those payments would be made at the end of December.This year, th ...

Brand Association - Rolex invited Donald Trump to the U S Open final [1] Trade Relations - The event occurred despite Switzerland tariffs [1]

A new NBC News poll shows dwindling trust in President Trump's handling of pocketbook issues on Trump's handling of inflation and the cost of living. 39% of Americans approve, while 61% disapprove. 45% say inflation and the cost of living is the most important economic issue right now.And 59% disapprove of Trump's handling of trade and tariffs as the White House te's up a Supreme Court fight after an appeals court struck down Trump's tariffs. We would have to give a refund on about half the the tariffs, whi ...

Site Search Clear SEARCH Advanced Search Search Results Symbols No results found Private Companies No results found 0 Results No Results Found Authors No results found Sections No results found Columns No results found In an interview on NBC's "Meet the Press,†Bessent said he's confident that the tariffs will be upheld by the Supreme Court. But even if they're not, "there are numerous other avenues that we can take,†he told host Kristen Welker, though that would "diminish President Trump's negotiating posi ...

We've heard from a lot of different companies around the country. Nine Nike says the tariffs will cost the company around $1 billion this year. Black & Decker says 800 million.The big three automakers all say they've had to pay more than $2 billion in tariffs. The list goes on and on. Bottom line, do you acknowledge that these tariffs amount to attacks on the American people.Uh well, first of all, let let's back up because what we've seen, for instance, the Japanese automakers have said they're eating the t ...

Core Insights - The potential return to a high-tariff regime in the U.S. has sparked significant alarm among economists and financial experts, with dire predictions about its economic consequences [3][4]. - Despite initial fears, the actual negative impacts of the tariff policies have been mild or nonexistent so far, with various economic indicators showing resilience [4][38]. Inflation Impact - Initial assumptions suggested that tariffs would lead to higher inflation, but the reality is more complex, with tariffs likely causing a one-time price hike rather than ongoing inflation [6][7]. - Tariff revenues for 2026 are projected to be around $300-400 billion, representing only about 1% of total U.S. GDP, akin to a national sales tax increase [7]. - A study indicated that only 17% of the components in the Core Personal Consumption Expenditure Index are affected by tariffs, suggesting a limited overall impact on inflation [7][8]. - The Consumer Price Index (CPI) showed a year-over-year increase but remained below the two-year average, indicating stability in prices despite new tariffs [11][12]. Recession Concerns - Recession forecasts fluctuated significantly in the first half of the year, but by July, sentiment improved, with the S&P 500 achieving 32 new record highs since "Liberation Day" [15][19]. - GDP growth surged at a 3.3% annual pace in the second quarter, and consumer spending showed a year-over-year gain of 4.7%, indicating economic strength [15][17]. - Most economists surveyed have reduced their recession probability forecasts, with only 2 out of 52 seeing an increased risk [16][18]. Treasury Bond Market - Contrary to fears, the U.S. Treasury Bond market has remained stable, with the 10-year Treasury Bond yield lower than on "Liberation Day" and bond prices increasing by almost 6% since the beginning of the year [20][21]. - Investors have shown confidence in U.S. Treasury securities, even as public debt reached $30 trillion, with tariffs projected to generate approximately $3.3 trillion in revenue over the next decade [21]. Dollar Status - Predictions of a weakened dollar and loss of its reserve currency status have not materialized, with the dollar remaining dominant in international trade and finance [22][24]. - The Federal Reserve's report indicated that the dollar's share of international payments is about 50%, showing stability in its global position [25]. Foreign Investment Trends - Foreign ownership of U.S. Treasury bonds has increased since April, with foreign investors returning as significant buyers of U.S. assets [26]. - The trend of foreign investment in U.S. equities and Treasury bonds has intensified, countering initial fears of a mass exodus [26]. Global Trade Dynamics - Concerns about permanent damage to global trade networks due to tariffs have not been realized, with global trade growing by $300 billion in the first half of 2025 [28][29]. - U.S. trade volumes were higher in July than in any month in 2023 or 2024, indicating resilience in trade despite tariff implementations [29][30]. Supply Chain Stability - Initial fears of supply chain disruptions have not come to fruition, with container shipping costs falling and supply chain pressure levels returning to long-term averages [32][34]. - Companies have adapted to potential tariff impacts by improving supply chain management and resilience, mitigating risks associated with tariffs [34]. Corporate Profitability - Contrary to expectations of declining corporate profits due to tariffs, S&P 500 companies reported a 6.4% revenue increase and an 11.9% earnings growth in the second quarter [36][37]. - The majority of U.S. companies exceeded analysts' earnings estimates, indicating strong corporate performance despite tariff concerns [36][37].

Core Viewpoint - Treasury Secretary Scott Bessent emphasized that the short-term costs of tariffs are outweighed by long-term benefits to U.S. competitiveness, arguing for more time to assess the impact of President Trump's economic agenda [1][4]. Tariff Revenue - The U.S. collected over $31 billion in tariff revenues in August, marking the highest monthly total for 2025, with total tariff revenue for the year exceeding $183 billion [5]. - Bessent indicated that tariff revenue could be utilized to help reduce the national debt, which is currently at $37.4 trillion as of September 5 [5]. Economic Impact - Bessent stated that the Trump administration anticipates a "substantial acceleration" in economic activity in the fourth quarter, highlighting the need for time to build factories and create jobs [4]. - The administration is committed to maintaining global tariff rates, despite a recent appeals court ruling that the power to set tariffs lies with Congress [7][8].