Fri, Sep 20, 2024 2:57 PM
From watches to bejewelled lighters, India catches the fancy of luxe labels
A Flip by Shubhangi Gupta
The Fed's cutting cycle in 1995 sparked an economic boom, with the stock market more than doubling in value. The Fed looks like it's following the same path it did in 1995, according to TS Lombard. That sets the stage for the economy to avoid a recession as it did in the 90s, the firm said. It's also great news for stocks, as the S&P 500 more than doubled in value that decade.
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Meituan’s strategy to focus on lower prices has helped the Chinese food delivery company beat sales targets even as the slowing economy drags peers. Investors are now wondering whether its steep share-price gains can last as the macro weakness deepens. The firm last month posted 21% sales growth and a record high gross margin for the latest quarter despite anemic consumer spending.
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China unexpectedly left benchmark lending rates unchanged at the monthly fixing on Friday, confounding market expectations that were primed for a move after the Federal Reserve delivered an outsized interest rate cut earlier this week. However, market watchers widely believe further stimulus will be rolled out to prop up an ailing economy.
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