In today’s briefing:
- Ohayo Japan | Stocks, Yields, Oil Higher; SiC Chip Technology for Automotive Evolution
- Furniture/Furnishings Weekly – Office Furniture Back in Focus After Strong HNI Quarter
Ohayo Japan | Stocks, Yields, Oil Higher; SiC Chip Technology for Automotive Evolution
- Overseas: SPX +0.2% , Nasdaq +0.3%; Subdued start to the week after recent gains; Yields higher with 10Y at 4.65%
- Today: NKY Futs -0.3% v cash. JPY 150/$; Ueda sees increasing chance of hitting 2% inflation goal
- JapanX: Denso & Mitsubishi Elec Investing in SiC Chip Technology for Automotive Evolution
Furniture/Furnishings Weekly – Office Furniture Back in Focus After Strong HNI Quarter
- The commercial/contract (office) furniture stocks rallied last week following HNI’s strong 3Q23 earnings report.
- The commercial/contract furniture issues rose more than 12.7%, outperforming the broad indexes, with HNI leading the group.
- HNI’s 3Q report reinforced the sector story. Sales remain challenging. Improved pricing, a focus on costs, and eliminating unprofitable distractions restored margins.
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