Risk appetite returned to Wall Street on Thursday, as signs of labor market cooling in August cemented expectations that the Federal Reserve will begin cutting interest rates at its Sept. 17 meeting.
PwC’s survey indicates that overall spending will decrease by about 5% from last year, with Gen Z reducing their holiday budgets by nearly a quarter, while older shoppers plan to maintain their current spending levels or increase it.
Off-price shopping is trending, with TJX Companies Inc (TJX) as a major beneficiary. Placer.ai reports a jump in visits to TJX stores, while rival Ross Stores Inc (ROST) may reinforce this trend. ETFs with off-price exposure may perform better.
Reborn Coffee Inc. (NASDAQ: REBN) is reviewing blockchain-based digital asset strategies to strengthen its financial foundation, while expanding globally.
The Consumer Price Index rose 2.7% in the 12 months through July, according to data published last Tuesday, unchanged from the June rate and less than what economists had expected.
