European luxury stocks, including Hermes, Richemont, and LVMH, surged over 15% this week as Chinese officials announced stimulus measures to boost the country's economy, revitalizing hopes for increased spending on luxury goods. European luxury brands had struggled due to weak Chinese demand, but investors now expect the stimulus to revive luxury spending in China.
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Open FlipConsumers are feeling the impact of a cooling labor market, with a narrowing margin between those finding jobs "plentiful" and those finding jobs "hard to get," but economists see this as a shift from a "super hot" to a "strong" job market, rather than a red flag. The Conference Board senior economist Stephanie Guichard told Yahoo Finance that workers feeling less confident about the labor market.
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