In today’s briefing:
- Ohayo Japan | Wall Street Ends Lower
- Global Easing Combined with a Resumption of Industrial Growth Is a Good Set-Up for Commodities
- Furniture/Furnishings Weekly – SCS Results In Line; Home Sales Surprise on the Upside
Ohayo Japan | Wall Street Ends Lower
- US stocks lost ground on Monday, the start of a holiday-shortened week, as investors await Friday’s inflation data
- The Personal Consumption Expenditures (PCE) report is due on Friday, despite it being a market holiday. Core PCE expected to be up 2.8%
- IHI Corp (7013) anticipates a 110 billion yen operating profit in fiscal year ending March 2025, rebounding from an 80 billion yen loss due to engine quality issue
Global Easing Combined with a Resumption of Industrial Growth Is a Good Set-Up for Commodities
- Central banks have set the stage for the next inflationary wave by moving to an easing bias despite higher inflation
- The Federal Reserve, the BoJ, the ECB and the SNB all tilt to easing
- US deficit spending together with China and Germany exiting an industrial recession bode well for industrial commodities
Furniture/Furnishings Weekly – SCS Results In Line; Home Sales Surprise on the Upside
- Steelcase delivered a solid fourth quarter and provided guidance consistent with our pre-release outlook.
- Orders and pre-order customer activity remains positive. The results confirm that the post-pandemic slump in office furniture is ending, if not over.
- Corporate customers are more active, particularly in the US.
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