The blue-chip Dow Jones Industrial Average shed over 100 points on Friday but closed 0.3% higher for the week. The S&P 500 and the Nasdaq closed the day nearly flat, while also ending higher for the week. Markets digested the start of the earnings season and an unexpected decline in producer prices. European stocks ended higher, but shares of British luxury firm Burberry fell 7% after a profit warning.$标普500指数(.SPX.US)$$纳斯达克综合指数(.IXIC.US)$$道琼斯指数(.DJI.US)$
Third Bridge speculates Burberry could face greater suffering in China compared to other luxury brands due to its wide target audience. Despite the tough macroeconomic climate, CEO Jonathan Akeroyd stays hopeful about the brand’s long-term potential.
Analyst Sophie Lund-Yates ponders over the fading allure of luxury sector as high-end consumers curtail spending. She speculates that Burberry and other luxury retailers might bear the brunt before conditions ameliorate, especially if spending reduces more widely post 2024 festive trading period.
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Markets rose for the week
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