Market Overview - US stock futures showed little change before the opening bell on September 25, as investors awaited jobless claims data to assess the Federal Reserve's next interest rate move [1][10] - Futures on the Dow Jones Industrial Average hovered just below flat, while S&P 500 contracts slipped 0.2% and Nasdaq 100 futures dipped 0.3%, extending pressure after major indexes closed lower for two consecutive days [2][11] Economic Indicators - The focus is on weekly jobless claims, which are a key signal of labor market health and have been flagged as a concern by Fed officials [4][6] - Investors are also looking at second-quarter GDP, personal consumption, and existing home sales ahead of the Fed's preferred inflation gauge, the Personal Consumption Expenditures index, expected to show easing price pressures [7][11] Corporate Developments - Costco is set to report quarterly earnings, with analysts anticipating higher sales as consumers seek bargains in an uncertain economy [7][13] - Intel shares rose over 3% in premarket trading due to reports of potential investment talks with Apple, with Intel's stock closing at $31.22 and rising to $31.70 in early trade [12] - Hertz's stock increased by 4% after announcing a $250 million exchangeable senior notes offering [12] - Qualcomm's stock slipped 1% following the launch of new chips for PCs and phones [12] - CarMax's stock dropped 12% in premarket trading after its quarterly results missed Wall Street estimates [12] - Oracle received a downgrade from Redburn analyst Alex Haissl, who set a $175 price target, implying a 42% downside, suggesting it may be time for investors to take profits [9][13]

Group 1 - Marks and Spencer Group is currently in the third year of its 'Reshape for Growth' turnaround plan, indicating a long-term strategy for recovery and growth [1] - The share price of Marks and Spencer Group reflects the progress and challenges faced during the turnaround process, suggesting market sentiment towards the company's restructuring efforts [1] Group 2 - The article does not provide specific financial data or performance metrics related to Marks and Spencer Group's turnaround plan [1]

Group 1 - Marks and Spencer Group is currently in the third year of its 'Reshape for Growth' turnaround plan, indicating a long-term strategy for improvement [1] - The share price performance reflects the progress and challenges faced by the company during this restructuring phase [1] Group 2 - The company operates in the retail sector, specifically in the UK market, which has been undergoing significant changes and competition [1] - The focus on growth and restructuring suggests a proactive approach to adapt to market demands and consumer preferences [1]

Group 1 - Walmart made a surprise appearance at New York Fashion Week with a fashion pop-up event [2] - The event promoted Walmart's Scoop and Free Assembly fashion lines [2]

Core Insights - The logistics sector has seen significant engagement from investors, particularly in the ASEAN and US markets, highlighting a trend towards diversification in investment portfolios [1] - The popularity of insurance companies in the Philippines since 2014 indicates a growing interest in financial products beyond traditional savings [1] - The entry into the US market has provided opportunities for investment in various sectors, including banks, hotels, and logistics, reflecting a broader strategy of portfolio diversification [1] Investment Strategies - Initial investments were focused on blue-chip companies, which suggests a strategy aimed at stability and reliability in returns [1] - The approach has evolved to include a mix of long-term holdings for retirement and short-term trades for profit, indicating a balanced investment strategy [1] - The use of analyses from platforms like Seeking Alpha has enhanced the understanding of market dynamics, allowing for better comparisons between different markets [1]

Economic Outlook - U.S. rate futures indicate a 91.9% probability of a 25 basis point rate cut at the upcoming monetary policy meeting, with an 8.1% chance of no change [1] - San Francisco Fed President Mary Daly suggests that further interest rate cuts may be necessary to restore price stability while supporting the labor market [1] - U.S. Treasury Secretary Scott Bessent expresses disappointment over the lack of a clear agenda from Fed Chair Jerome Powell regarding interest rate reductions, advocating for a decrease of 100 to 150 basis points by year-end [2] Market Performance - Wall Street's main equity benchmarks closed lower, with Freeport-McMoRan experiencing a significant drop of nearly 17% after cutting Q3 sales guidance and declaring force majeure on copper supplies [3] - Bloom Energy fell over 10% following a downgrade by Jefferies, while Adobe declined more than 2% after a downgrade by Morgan Stanley [3] - Conversely, Marvell Technology rose over 7% after announcing a new $5 billion share repurchase program [3] Upcoming Economic Data - The U.S. Commerce Department's final estimate of GDP is anticipated to show a 3.3% annual growth rate for Q2 [5] - Durable Goods Orders are expected to decline by 0.3% month-over-month, while Core Durable Goods Orders are forecasted to fall by 0.1% [5] - Existing Home Sales are projected at 3.96 million for August, down from 4.01 million in July [6] Corporate Earnings - Notable companies such as Costco, Accenture, Jabil Circuit, and CarMax are set to report quarterly results today [7] - Oracle's stock fell over 2% in pre-market trading after a Sell rating was initiated by Rothschild & Co. Redburn [16] International Market Insights - The Euro Stoxx 50 Index is down 0.49%, influenced by declines in healthcare and construction stocks [9] - Japan's Nikkei 225 Index reached a new record high, supported by a weaker yen and expectations of a Bank of Japan interest rate hike [12]

Core Insights - Walmart is partnering with La Liga to become the first presenting partner of "El Clásico," enhancing its presence in the soccer market in the U.S. [2][3] - The partnership aims to create engaging experiences for fans, including co-branded merchandise and large-scale events [3][5] - La Liga has a significant audience in the U.S., with the league's games attracting millions of viewers and growing interest ahead of the 2026 World Cup [6][9][10] Group 1: Partnership Details - Walmart will debut a new logo as the presenting partner for El Clásico, which will be used in the U.S. and Canada [3] - The first match of the 2025-26 season is scheduled for October 26, 2025, in Madrid, with a second match on May 10, 2026, in Barcelona [4] - The partnership will kick off with fan events in Houston starting October 24, 2025, featuring viewing parties and concerts [5] Group 2: Market Context - The U.S. is the top market for La Liga outside of Spain, with a growing soccer fanbase [6][10] - ESPN reported that the 2024-2025 La Liga season was its most successful, with 5.4 billion minutes viewed across its platforms [8] - Walmart's previous multi-year deal with MLS indicates a broader strategy to capitalize on the growing soccer market in the U.S. [11]

Portfolio Performance - Private Equity and Infrastructure portfolios are performing resiliently despite a subdued macroeconomic environment[6] - Royal Sanders continues to perform well, and the broader PE portfolio shows improving momentum[6] - MAIT's sale was announced earlier this month, with total gross proceeds of approximately £143 million, a roughly 30% increase over its valuation on March 31, 2025, resulting in a 2.7x MM and approximately 27% IRR[6] - Action's year-to-date sales (as of September 21, 2025) reached €10.9 billion, which is 18% higher than the same period last year[6] - Action's year-to-date like-for-like (LFL) sales growth is 6.5% (compared to 6.8% at the end of August 2025), driven by transaction growth in all countries[6] - Action's operating EBITDA for the 12 months leading up to the end of P9 2025 is expected to be approximately €2,295 million, a 21% increase from €1,894 million at the end of P9 2024[6] Action Expansion - Action added 207 net new stores year-to-date and is on track to deliver or exceed 370 net new stores in 2025[6] - Action opened 7 stores in Switzerland year-to-date, and its first store in Romania opened on September 24, 2025[6] Investment and Acquisition - On September 24, 2025, 3i entered into an agreement with GIC to purchase a limited partnership interest representing 2.2% of Action equity in exchange for the issue of 19,916,225 new ordinary shares in 3i Group plc[6] - 3i invested approximately €1.7 billion in consumer businesses over the last 2 years[11] - 3i invested £124 million in MPM[18] - 3i invested approximately €145 million in WaterWipes[49] - 3i invested approximately £53 million in MAIT[95] - 3i invested £99 million in OMS[111] MPM Transaction - The total gross proceeds from the MPM transaction are approximately £400 million, with a money multiple of 3.2x and an IRR of 29%[44]

Economic Overview - The overall economic operation of Huizhou is stable, with a focus on high-quality development and effective implementation of macro policies [2] Industrial Production - From January to August, the industrial added value of above-scale industries increased by 8.8% year-on-year, with mining decreasing by 9.8%, manufacturing growing by 9.1%, and electricity, heat, gas, and water production and supply increasing by 5.4% [2] - The electronics industry grew by 12.6%, the petrochemical energy and new materials industry increased by 5.2%, and the life and health manufacturing industry rose by 9.0% [2] - Advanced manufacturing added value grew by 9.0%, accounting for 61.6% of the total industrial added value, while high-tech manufacturing added value increased by 12.3%, making up 42.7% of the total [2] Fixed Asset Investment - Fixed asset investment decreased by 22.9% year-on-year, with significant growth in cultural, sports, and entertainment investment at 79.4%, and scientific research and technical services investment at 45.0% [2] - Investment in water conservancy, environment, and public facilities management fell by 22.7%, while manufacturing investment decreased by 12.3% [2] - New commercial housing sales area declined by 35.1% [2] Consumer Market - The total retail sales of consumer goods reached 138.064 billion yuan, growing by 4.2% [3] - Urban retail sales increased by 4.5%, while rural retail sales grew by 2.9% [3] - Online retail sales surged by 36.9%, indicating a strong trend in e-commerce [3] Foreign Trade - The total foreign trade import and export volume reached 276.599 billion yuan, growing by 6.7%, with exports at 159.945 billion yuan (up 9.3%) and imports at 116.654 billion yuan (up 3.2%) [3] Fiscal and Financial Stability - General public budget revenue was 30.299 billion yuan, a year-on-year increase of 2.6% [4] - The balance of financial institution deposits reached 965.799 billion yuan, growing by 1.1%, while loans increased by 3.5% to 1,129.521 billion yuan [4] Consumer Price Index - The Consumer Price Index (CPI) decreased by 0.7% year-on-year, with the price index for consumer goods down by 0.6% [4][5] - Prices for food, tobacco, and alcohol fell by 0.3%, while clothing prices rose by 6.7% [5]

Core Insights - The logistics sector has seen significant engagement from investors, particularly in the ASEAN and US markets, highlighting its growth potential [1] - The popularity of insurance companies in the Philippines since 2014 indicates a shift in investment strategies among local investors [1] - The diversification of investment portfolios across various industries and market capitalizations is becoming a common practice among investors [1] Investment Trends - There is a notable trend of investors moving from traditional savings in banks and properties to stock market investments for better returns [1] - The entry into the US market by investors from the Philippines reflects a growing interest in international investment opportunities [1] - The use of platforms like Seeking Alpha for analysis and comparison of market trends is becoming increasingly popular among investors [1] Sector Focus - Key sectors of interest include banking, telecommunications, logistics, and hospitality, indicating a broad investment strategy [1] - The logistics and shipping industries are particularly highlighted as areas of investment, suggesting their importance in the current economic landscape [1]