JPMorgan Calls Costco a 'Clear Market Leader' as March Sales Top Expectations
Costco's March sales results beat Wall Street’s expectations, leading JPMorgan analysts to call the retailer a “clear market leader."
Costco's March sales results beat Wall Street’s expectations, leading JPMorgan analysts to call the retailer a “clear market leader."
Investors are preparing to step up sales of their private credit holdings, as heightened market volatility unleashed by U.S. President Donald Trump's trade wars forces them to find new ways to raise cash, fund managers and executives say. Private credit, the name given to specialised lenders like Apollo Global Management, Ares Management and KKR that finance companies instead of banks, has boomed into a $1.5 trillion industry, drawing in big institutional investors like pension funds who invest in the funds that grant the loans. While so-called "secondary sales" of stakes in private equity funds have soared amid a downturn in dealmaking, assets in private credit seldom change hands.
NEW YORK (Reuters) -Janus Henderson, which manages $379 billion in assets, is advising investors to cut stock holdings and buy more investment-grade sovereign bonds as tariffs threaten to slow global growth, a fund manager said. Janus Henderson now recommends a portfolio of 55% equities and 45% bonds, compared with its call at the start of the year for 62% equities and 38% bonds, Adam Hetts, global head of multi-asset at Janus, told Reuters. His base case is for a market selloff and the potential for bearish and recessionary cases to take hold.
"We believe the whole trajectory of earnings for TSLA remains too high and could face negative revisions post 1Q25 results," UBS analysts said.
Trump's decision followed a rout in US Treasurys amid what some call the "Sell America" trade.
Within moments of Donald Trump’s bombshell social media post backing off from his tariffs, allegations of wrongdoing were flying.
Chinese tea chain Chagee said on Thursday it was targeting a valuation of up to $5.1 billion in its U.S. initial public offering, braving choppy market conditions. Market volatility stemming from uncertainty over U.S. trade policy has tempered IPO activity as companies adopt a wait-and-see approach before proceeding. Shanghai-based Chagee is seeking up to $411 million by offering nearly 14.7 million American depositary shares priced between $26 and $28 each.
A number of stocks fell in the afternoon session after stocks gave back some of the gains from the previous day as the White House clarified the tariffs on imports from China would add up to 145%, while the baseline 10% tariffs remained in place for most countries. This reminded investors that the global trade environment remained volatile, limiting the potential for sustained market gains.
Apple shares tumbled Thursday, giving back some of their gains from a historic rally Wednesday when President Trump paused most of the tariffs announced last week.
The renewed selling came a day after the new levies took effect on most trading partners, rattling markets, and Trump then announced a 90-day pause on many of the reciprocal tariffs, while raising them further on Chinese imports. What’s going to happen next?