logo
L'Oreal CEO on Impact of Tariffs and Makeup Market

L'Oreal CEO on Impact of Tariffs and Makeup Market

Bloomberg6 hours ago

Nicolas Hieronimus, CEO of L'Oreal, the world's largest cosmetics maker, says he has shipped more luxury goods ahead of the US tariffs, but remains a net exporter in the US as the group has 18 US brands in its portfolio. Speaking with Bloomberg's Francine Lacqua in London, Hieronimus also said he expects the makeup market to bounce back soon. (Source: Bloomberg)

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Global stocks fall, oil futures rise, on a report U.S. may soon strike Iran
Global stocks fall, oil futures rise, on a report U.S. may soon strike Iran

Yahoo

time16 minutes ago

  • Yahoo

Global stocks fall, oil futures rise, on a report U.S. may soon strike Iran

Asian and European stocks fell on Thursday, and oil futures rose, on a report that suggested a U.S. military strike against Iran could happen this weekend. Bloomberg News said that some senior U.S. officials were preparing for a possible weekend strike. President Donald Trump has publicly said he has not decided whether to make a strike or not. Why the biggest-ever 'triple witching' options expiration could deliver a jolt to Friday's trading 'I'm at my wit's end': My niece paid off her husband's credit card but fell behind on her taxes. How can I help her? Israel-Iran clash delivers a fresh shock to investors. History suggests this is the move to make. How can I buy my niece a home in her name only — without alienating or upsetting her husband? My sister and her husband died within days of each other. Their banks won't let me access their safe-deposit boxes. What now? Fighting continued on Thursday, as Israel said it struck sites tied to Iran's nuclear weapons and missile programs, including the inactive nuclear reactor in Arak, and what it said was a nuclear weapons development site near Natanz. Iran meanwhile launched missiles at Israel and hit a hospital in Beersheba in the south of the country, which Iran says was near an Israeli military command and intelligence site. There was a development on the diplomatic front, however, as Iran's state media reported that its foreign minister, Abbas Aragchi, will meet in Geneva with European counterparts on Friday. 'Market sentiment grew more cautious following a Bloomberg report indicating that senior U.S. officials are preparing for a potential strike on Iran in the coming days. This added to existing concerns after the Federal Reserve downgraded its growth forecast for this year and projected higher inflation, highlighting how tariff-related uncertainties are complicating the central bank's efforts to adjust monetary policy,' said Patrick Munnelly, partner for market strategy at Tickmill Group. In Asia, most markets were weaker, with the Nikkei 225 JP:NIK losing 1% in Tokyo and the Hang Seng HK:HSI dropping 2%. The German DAX DX:DAX fell 0.9% and French CAC 40 FR:PX1 lost 1.1%. U.S. stock markets were shut for the Juneteenth holiday but S&P 500 futures ES00, trading electronically, fell 1%. Crude-oil futures CL00 rose to their highest level in nearly five months, trading at nearly $75 per barrel. 'I prepaid our mom's rent for a year': My sister is a millionaire and never helps our mother. How do I cut her out of her will? I'm 75 and have a reverse mortgage. Should I pay it off with my $200K savings — and live off Social Security instead? Why the stock market will be performing a high-wire act over the summer, according to UBS I'm 51, earn $129K and have $165K in my 401(k). Can I afford to retire when my husband, 59, draws Social Security at 62? Israel-Iran conflict poses three challenges for stocks that could slam market by up to 20%, warns RBC Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Wall Street's First-Half Whiplash Rewards All-Weather Portfolios
Wall Street's First-Half Whiplash Rewards All-Weather Portfolios

Yahoo

time31 minutes ago

  • Yahoo

Wall Street's First-Half Whiplash Rewards All-Weather Portfolios

(Bloomberg) -- Somehow, for all its drama — tariffs, fiscal brinkmanship, inflation fears, and geopolitical flare-ups — the first half of 2025 may be remembered by diversified investors for something else entirely: the strongest stretch of synchronized market gains in years. Security Concerns Hit Some of the World's 'Most Livable Cities' One Architect's Quest to Save Mumbai's Heritage From Disappearing JFK AirTrain Cuts Fares 50% This Summer to Lure Riders Off Roads NYC Congestion Toll Cuts Manhattan Gridlock by 25%, RPA Reports Taser-Maker Axon Triggers a NIMBY Backlash in its Hometown Rather than spelling a slow-motion disaster for bulls, months of whiplash across equities, fixed income and commodities have rewarded strategic indifference and punished overconfidence. Strategies that spread risk across assets are outperforming by near-historic margins, a shift from the concentrated bets that favored the likes of Big Tech stocks in recent years. A Societe Generale multi-asset portfolio, tracking equities, government bonds, corporate credit, commodities and cash, is on pace for its strongest first-half performance since at least 2008. Even the classic 60/40 stock-bond mix — written off during the pandemic-era disruption as obsolete in a world of uncertain inflation — has proved relatively resilient. Meanwhile, a popular multi-asset strategy known as risk parity is up about 6%, by one measure. This holiday-shortened week offered fresh validation for cautious investors. Federal Reserve Chair Jerome Powell warned of 'elevated uncertainty' around economic growth and said new tariffs could reignite supply-side price pressure. Disappointing economic data and ongoing clashes between Israel and Iran added to the case for investors to stay vigilant about both the business and market cycle. In a market this divided, perhaps the only reasonable stance is to refuse to take a side, favoring instead a principled neutrality in portfolios built for all-weather conditions. 'For every indicator out there that shows the economy is strong, I can give you one that shows it's slowing,' said John Davi, chief executive of Astoria Portfolio Advisors. 'Uncertainty is definitely higher.' In a year when international stocks, gold, and even Bitcoin have outpaced the S&P 500, investors are being rewarded for looking beyond the familiar. Davi's firm's multi-asset ETF, with gold as its top holding, is up more than 10% — a result, he said, of building a portfolio 'meant to survive uncertainty, not predict it.' Trading in the biggest asset classes this week reflected the stunted returns that — despite the April rebound — have made a virtue of going further afield at a time of economic and political anxiety. The S&P 500 ended lower on the week and sits just 1.5% above where it began in January. Ten-year Treasury yields are broadly flat this week, while a broader index of government bonds has returned 3% so far this year. Instead, diversified portfolios have been powered by assets long eschewed during the era of Magnificent-7 exceptionalism. Developed-market equities excluding the US and Canada have climbed 14% year-to-date, while the Bloomberg Commodity Index has surged 8% this year, while gold has soared nearly 30%. 'I find that when it comes to owning things outside the US, from the US investor point of view, there's a lot of reluctance,' said SocGen's Manish Kabra. 'The only time you are really diversified is when you have assets that you don't want to own.' US investors are starting to get the message. Based on inflows, the top dozen ETFs tracked by Bloomberg over the past month encompass a broadening palette of asset classes, including gold, Bitcoin, overseas equities and short-term T-bills, alongside US stocks and bonds. 'ETFs are a natural solution to find diversification through other forms of equity exposure or yield hunting in the fixed income space, particularly to strategies with limited duration risk,' said Todd Sohn of Strategas. 'Ultra-short duration strategies have taken in the second-most inflows of categories we track.' To be sure, the old-school asset classes remain the main destination for investor cash. Equity ETFs have pulled in roughly $56 billion so far in June, surpassing May and April totals, with still around one week. Total cross-asset flows now stand at $523 billion, which means ETFs are on track to take in more than $1 trillion this year, after topping that number for the first time in 2024. How those bets fare in the evolving macroeconomic climate remains to be seen. A string of weaker-than-estimated data releases has pushed Citigroup's US Economic Surprise Index to its lowest level since September. On Wednesday, Fed officials downgraded their estimates for growth this year while lifting forecasts for unemployment and inflation. 'The macro backdrop has shifted so quickly this year,' said Ayako Yoshioka, senior portfolio manager at Wealth Enhancement Group, a $100 billion registered investment adviser. 'Concentration helps in a bull market. Diversification helps you keep what you've earned when the macro backdrop shifts frequently.' Luxury Counterfeiters Keep Outsmarting the Makers of $10,000 Handbags Ken Griffin on Trump, Harvard and Why Novice Investors Won't Beat the Pros Is Mark Cuban the Loudmouth Billionaire that Democrats Need for 2028? The US Has More Copper Than China But No Way to Refine All of It Can 'MAMUWT' Be to Musk What 'TACO' Is to Trump? ©2025 Bloomberg L.P. Sign in to access your portfolio

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store