British Labor Party lands landslide victory in general election | Wilnesh News

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UK Labor Party wins landslide victory
center left Labor wins landslide victory, ending 14 years of Conservative rule. Early forecasts suggest Keir StarmerLabor will have its second majority, after former prime minister Tony Blair won 179 seats in 1997. Brexiteers Nigel Farage wins his first seat in UK Parliament His Reform Party is expected to win 13 seats.

Nikkei 225 hits record high, Samsung gains
Japan’s Nikkei 225 Index It hit a record high, crossing the 41,000 mark for the first time, but then lost momentum due to an unexpected drop in household spending, jeopardizing the central bank’s plan to raise interest rates. Korean Cospi Samsung Electronics said shares rose 1.24% Second-quarter operating profit will soar nearly 15 times, mainly due to the rebound in semiconductor prices driven by the artificial intelligence boom. Samsung shares rose 2.84%, hitting their highest point since January 2021. Hang Seng Index The CSI 300 Index fell 1%, while the CSI 300 Index fell 0.48%.

short loss
TeslaVery strong Delivery report has caused Short sellers suffer big lossesThe stock rose 17% in two days, with short sellers losing $3.5 billion, according to S3 Partners. Tesla shares have soared 73% since April and are close to a recovery, with the stock just $2 away from erasing this year’s losses. Short interest represents 3.5% of shares outstanding, or 97 million shares valued at $22.4 billion.

‘Wages slow down’ on Friday
this June nonfarm payrolls report Amid signs of a labor market slowdown, the issue becomes even more important. Wage growth will slow in 2024 compared with last year, and economists predict that employment will increase by 200,000 jobs in June, down from 272,000 jobs in May. While job growth remains historically stable, rising unemployment and broader economic uncertainty have raised concerns about future economic weakness.

Saks deals
Saks Fifth Avenue parent company HBC will Acquired Neiman Marcus Group in a $2.65 billion deal, Create a new luxury retail giant. The combined entity will include Saks Fifth Avenue, Saks OFF 5TH, Neiman Marcus and Bergdorf Goodman. The move comes amid challenges for traditional brick-and-mortar retail, with department stores struggling to attract younger shoppers and facing reduced discretionary spending.

(PRO) Evercore’s “Best Ideas”
Evercore ISI maintains its top stock pick for the second half of 2024 after a strong first half for stocks, driven by the artificial intelligence boom. This is from Evercore ISI The best stock ideas for the second half of the year.

British Pollsters predict a landslide election victory Has represented the center-left Labor Party for the past two years. Labor leader Keir Starmer will inherit an economy turned a corner After a technical recession in the second half of 2023.

Nonetheless, analysts at RBC Capital Markets point to similarities between current market trends and the 1997 UK general election, the last time the Conservatives transitioned to Labour. Markets could see significant gains post-election, here’s how Some industries and stocks that may benefit.

With an election over, attention will turn to France, where the far right is expected to Less than majority, according to polls. bank stocks BNP Paribas and Societe Generale The latest exit polls show that number rising. this Euro Stoxx 50 Volatility Index The index has retreated from its highs after President Macron’s shock announcement of early elections.

“Financial markets are actually taking current and upcoming election risks in stride… but that’s not to say we’re not adding any political risk premium at all because things are going to heat up as the US election approaches in November,” Jameel Ahmad said. said chief analyst at Dubai-based GTC Group.

“The situation in the United States is even more uncertain, and uncertainty is spreading in the lead-up to November. For example, will (President Joe) Biden really run for the election, and what are Trump’s actual campaign policies?”

While Biden’s team says the president has no plans to withdraw, Vice President Kamala Harris‘ Allies are Private discussions about what her candidacy would look like.

As the S&P 500 continues to hit new highs, investors may be wondering if now is the time The right time for diversification In the event of a pullback, calculations are made on a market capitalization weighted basis. However, CFRA’s Sam Stovall said historically, allocations to equal-weighted indexes have done little to protect investors.

“If history is any guide, as it has never been gospel, investors need to remember that equal-weighted versions of cap-weighted benchmarks typically experience deeper sell-offs than cap-weighted benchmarks and are down 10x Over the course of the year, outperformance will be reduced by 1% or more compared to a cap-weighted benchmark,” Stovall wrote on Wednesday.

“Hence, history shows that collective investment approaches often do not mitigate the magnitude of eventual declines,” he added.

CNBC’s Jeff Cox tells us attention will now turn to Friday’s jobs report what to expect.

—CNBC’s Jeff Cox, Alex Harring, Sarah Min, Holly Ellyatt, Ganesh Rao, Brian Schwartz and Lora Kolodny contributed to this report.