And right now we are 2 minutes away from the end of the trading day. Romaine Bostick here with Katie Greifeld taking you through to that closing bell with a global simulcast. Carol Massar and Tim Stenovec joined us from the radio booth.Welcome to our audiences across all of our Bloomberg platforms. Carol Massar pleading our partnership with you to appear on yet another record setting day across the board here in the United States. Kind of wild, right.And you just look at the last half hour or so, we've seen ...

Market Performance - India's frontline indices Nifty and BSE Sensex ended positively, with Nifty closing at 24,894.25, up 57.95 points or 0.23%, and Sensex at 81,207.17, rising 223.86 points or 0.28% [1][12] - The Nifty breadth was slightly bearish, with 26 stocks in the green and 24 in the red [2][12] - Among the top gainers were Tata Steel, Axis Bank, and Larsen & Toubro, while the top losers included Max Healthcare Institute, Tech Mahindra, and Maruti Suzuki [12] Sector Performance - Out of 17 Nifty sectoral indices, 14 finished in the green, with Nifty Metal, Nifty PSU Bank, and Nifty Consumer Durables closing up by 1.8%, 1.12%, and 1.09% respectively [5][12] - Nifty Auto fell marginally by 0.06%, while Nifty Realty and Nifty Healthcare were down by 0.12% and 0.22% respectively [2][12] Technical Analysis - Technical Analyst Vatsal Bhuva noted that the Nifty index showed strength after closing above its short-term resistance, with crucial support near the 100-day EMA at 24,750 [6][12] - Heavy put writing at 24,800 indicates a support base, while the highest open interest concentration at 25,000 highlights a strong resistance zone, suggesting a mildly bullish trading range of 24,750–25,100 [6][12] Global Market Influence - Asian markets were largely positive, with Japan's Nikkei 225 gaining 1.8%, while China's Shanghai Composite and FTSE Straits Times Index rose by 0.5% and 0.4% respectively [7][12] - European markets also showed positive action, with Germany's DAX, Spain's IBEX, and French CAC 40 rallying between 0.8% and 0.1% [7][12] Currency and Commodities - The Indian rupee closed slightly weaker at 88.7725 against the U.S. dollar, remaining close to its all-time low of 88.80 [8][9][12] - Crude oil prices increased after four consecutive declines, with US WTI oil contracts trading at $60.88, up by $0.40 or 0.66%, and Brent oil futures at $64.51, higher by $0.40 or 0.62% [10][12]

Core Viewpoint - The S&P 500 and NASDAQ are reaching new highs despite the ongoing government shutdown, indicating a resilient market environment. The overall strategy remains unchanged, but adjustments have been made for Q4, particularly in the communication services sector [1][2]. Market Strategy Adjustments - The company has lowered its position in communication services from overweight to market weight for the first time since 2023, reflecting a cautious approach as earnings season approaches [3]. - There is a significant expectation built into media stocks, suggesting that merely meeting or beating earnings expectations may not be sufficient to support stock prices in the near term [4]. Sector Insights - The technology sector, especially semiconductors and software, remains a positive focus, driven by the ongoing AI trend [5]. - The consumer discretionary sector has also been adjusted to market weight, indicating a strategic shift towards areas that may benefit from lower interest rates in the future [6][7]. Small and Mid-Cap Stocks - The company is increasingly optimistic about small and mid-cap stocks, which are traditionally more sensitive to economic cycles. The ideal time to invest in small caps is typically post-recession, and the current environment suggests a potential soft landing combined with lower Fed rates [9]. - Small and mid-cap stocks have experienced an earnings recession over the past two years, but recent Q2 results show the first positive inflection in earnings growth, indicating a potential turnaround [10].

Market Overview - Equity markets experienced a significant rally, with Nifty 50 surpassing the 25,300 mark and Sensex gaining over 360 points, driven by strong investor confidence following US-India trade talks [1] - The Nifty PSU Bank index led sectoral gains, while healthcare, metal, consumer durables, and pharma stocks saw declines [3] Index Performance - Sensex traded 310.09 points or 0.38% higher at 82,690.78, and Nifty traded 89.50 points or 0.35% positive at 25,328.60 [2] - The smallcap index outperformed the midcap index, gaining 0.74%, while the midcap index rose 0.17% [2] Sector Performance - Gains were primarily observed in financials, auto, IT, and oil & gas sectors, while the defence index rose over 2% [1][3] - Among the top gainers in the Sensex firms were Tata Consumer Products, Bharat Electronics, and Kotak Mahindra Bank, while Titan and Tata Steel were among the major laggards [4] Stock Movements - A total of 3,024 stocks were traded on the National Stock Exchange, with 1,827 advancing and 1,107 declining [4] - Seventy-two stocks, including JSW Steel and Dalmia Bharat, hit their 52-week highs, while 19 stocks recorded 52-week lows [5] Midcap and Smallcap Highlights - In the midcap segment, Aditya Birla Fashion and Kalyan Jewellers saw gains of 3-5%, while Vodafone Idea and NHPC declined slightly [6] - Smallcap index gainers included GRSE and MCX, with upticks of 4-7%, while Godfrey Phillips and IndiaMart dropped 1-2% [6] BSE Performance - On the BSE, KNR Constructions and PC Jeweller surged 6-8%, while Moschip and Home First depreciated by 2-3% [7]

Group 1 - The Benchmark BSE Sensex increased by 123.58 points or 0.15% to close at 81,548.73, while the NSE Nifty rose by 32.40 points or 0.13% to settle at 25,005.50, marking its seventh consecutive day of gains [1][2] - Major gainers among Sensex firms included NTPC, Axis Bank, Power Grid, Bharti Airtel, Eternal, and Sun Pharma, while Infosys, Titan, UltraTech Cement, and Hindustan Unilever were among the laggards [2] - Positive signals from the U.S. regarding the resumption of trade discussions with India contributed to the market's upward movement, with expectations of the index entering a new range [3] Group 2 - Foreign institutional investors (FIIs) sold equities worth ₹115.69 crore, while domestic institutional investors (DIIs) purchased stocks worth ₹5,004.29 crore [4] - Global oil benchmark Brent crude decreased by 0.24% to $67.28 a barrel [4]

Summary of Lifetime Brands (LCUT) FY Conference - June 10, 2025 Company Overview - **Company Name**: Lifetime Brands - **Industry**: Consumer Durables - **Founded**: 1945 as a cutlery company - **Market Share**: Over 20% in the cutlery category, primarily through Farberware brands [3][4] - **Average Ticket Price**: $10 and under [2] Core Business Insights - **Product Offering**: Good, better, best strategy across various channels [2] - **Recent Growth**: Merged with Filament Brands in 2018, focusing on growth and profitability [4] - **Key Categories**: Tabletop tools and kitchen tools [4] Consumer Market Analysis - **Current Consumer Health**: Visibility is dim; consumer spending has slowed down due to trade wars and economic uncertainty [8][9] - **Online Shopping Trend**: Increased online purchases driven by consumer wariness [9] - **Retail Environment**: Competitive landscape shows bifurcation; smaller companies are struggling, presenting M&A opportunities [10] Competitive Landscape - **Operational Challenges**: Competitors are facing issues with manufacturing and supply chain adjustments, particularly moving out of China [10] - **Channel Performance**: Strong performance in club channels (e.g., Costco) and mass channels (e.g., Walmart) [11] Inventory and Tariff Management - **Inventory Destocking**: Retailers are adjusting inventory levels due to economic conditions and tariffs [13][15] - **Tariff Impact**: Company has shifted manufacturing out of China to mitigate tariff impacts, with plans to have most products manufactured outside China by the end of the year [19][20] Pricing Strategy - **Price Increases**: Implemented across the customer base; focus on maintaining margin dollars rather than margin percentage [21][22] - **Elasticity of Demand**: Historical data suggests that certain products remain in demand even during economic downturns [23][24] Financial Performance - **Q1 Results**: Softness in sales due to customer and product mix affecting margins; not significantly impacted by tariffs [25][26] International Business and Project Concord - **International Challenges**: UK operations were losing money; restructuring efforts are underway to achieve breakeven by 2025 [27][30] - **Project Concord**: Aimed at integrating UK operations with US business to streamline costs [30][34] Growth Initiatives - **Defensive Posture**: Current focus is on defensive strategies due to macroeconomic uncertainties, but growth initiatives are still in place [31] - **New Product Launches**: Successful launch of the Dolly product line, with plans for expansion [31][32] Distribution Center Relocation - **New Distribution Center**: Moving from New Jersey to Maryland to avoid cost increases; receiving $13 million in subsidies [36][38] Future Guidance and M&A Strategy - **Guidance for FY '25**: Will be provided once there is clarity in trade and tariff situations [39] - **M&A Criteria**: Focus on margin expansion and new product categories; looking for transformative opportunities [40][41]

Core Insights - The 137th Canton Fair has shown resilience amid global economic uncertainties, with significant increases in participation and exhibition metrics [3][4] - The total exhibition area reached 1.55 million square meters, with approximately 74,000 booths and around 31,000 participating companies, marking an increase of nearly 900 companies compared to the previous session [3] - The fair attracted a record number of overseas buyers, with 288,938 attendees from 219 countries and regions, representing a 17.3% year-on-year growth [3] Participation Metrics - The number of overseas buyers included 148,585 in the first phase and 195,851 in the second phase, with new and returning buyers increasing by 14.6% and 21.4% respectively [3][4] - Emerging markets remain the largest source of buyers, with 187,450 from Belt and Road countries, a 17.4% increase, accounting for 64.9% of total buyers [4] - BRICS countries contributed 72,417 buyers, up 24.1%, while RCEP member countries had 64,808 buyers, a 6.9% increase [4] Innovation and Product Focus - The fair emphasized "new" products, technologies, materials, and designs, shifting from merely selling products to selling technology and innovation [5][6] - A new live streaming initiative was introduced to showcase innovative products and engage with decision-makers from leading companies, focusing on product differentiation and market insights [6][7] - Notable products included AI live streaming cameras, portable espresso machines, and electric motorcycles, highlighting a blend of technology and lifestyle [7] Engagement and Outreach - The live streaming sessions attracted over a million viewers, featuring discussions on technological innovation, market trends, and sustainable growth strategies [7][8] - The event's format allowed for in-depth dialogues with industry leaders, fostering a collaborative environment for exploring future business opportunities [6][7]