U.S. stocks closed mostly higher on Friday, with the Dow Jones Industrial Average leading the way. The Dow gained over 250 points, fueled by positive consumer sentiment and strong corporate earnings. However, the NASDAQ ended slightly lower, while the S&P 500 closed up modestly. European markets traded lower, while Asian markets closed mixed.
Investors are anticipating a positive start to Friday’s trading on Wall Street, with index futures pointing upwards. While earnings season winds down, crucial economic data releases and a speech by the Boston Fed President will shape the market’s direction. The tech sector, boosted by Tesla’s stellar performance, could offer some respite after a week of overall market gloom.
Euromonitor International’s upgraded Passport Sustainability platform provides businesses with valuable insights to track the performance of their sustainability claims, understand consumer sentiment, and craft effective strategies in a rapidly evolving green market. The platform covers 11 industries, 25 global markets, 50 product categories, and over 70 sustainability claims, revealing key trends like the rise of ‘clean label’ products and the growing popularity of B Corp certification.
The Estee Lauder Companies Inc. (EL) is struggling with a volatile stock trajectory, driven by weak consumer sentiment and market challenges. Sales have declined significantly in key regions like China and Asia travel retail. The company is facing pressure from high inflation, rising interest rates, and unfavorable currency rates. While the company is implementing a profit recovery plan, analysts are cautious about its future performance.
Oxford Industries, Inc. (OXM) reported weaker-than-expected second-quarter financial results, missing both earnings and revenue estimates. The company attributed the shortfall to declining consumer sentiment, leading to a drop in full-price sales and increased demand for promotions. Oxford Industries lowered its third-quarter guidance and revised its full-year outlook.
The Estee Lauder Companies reported strong fourth-quarter fiscal 2024 results, exceeding both revenue and earnings expectations. However, the company anticipates continued sluggishness in the prestige beauty segment in China due to weak consumer sentiment. Despite this, Estee Lauder is projecting improved performance in other global markets and has implemented a Profit Recovery and Growth Plan to enhance profitability and accelerate growth.
