Richemont's Q3 results exceeded expectations with €6.15 billion in sales, driven by strong performance in the Jewellery Maisons division, aligned with

Analysts fell to the sidelines weighing in on Compagnie Financiere Richemont SA (CH:CFR – Research Report), Taylor Wimpey (GB:TW – Research

Richemont reported better-than-expected quarterly sales, triggering a rally in luxury stocks, after its core jewelry division bucked a downturn in demand for high-end goods.

Richemont delivered stunning holiday quarter performance with luxury jewelry sales up 14%, while Signet reported holiday accessible/mass-market jewelry sales down 2%.

European luxury shares jumped Thursday after Cartier parent Richemont reported record quarterly sales, lifting investor hopes that the high-end sector is finally recovering from a slump caused by weak Chinese demand.

In equities, the Dow Jones Industrial Average fell 68.42 points, or 0.16%, to 43,153.13, the S&P 500 fell 12.57 points, or 0.21%, to 5,937.34 and the Nasdaq Composite fell 172.94 points, or 0.89%, to 19,338.29. In contrast, MSCI's gauge of stocks across the globe rose 1.31 points, or 0.15%, to 848.61.

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U.S. markets faced a downturn on Thursday as major technology stocks faltered, leading to a slip in the S&P 500 and Nasdaq indices. This decline interrupted a three-day winning streak, with investors reacting to mixed economic signals and corporate earnings reports.

Donald Trump is expected to elevate Michelle Bowman, a fifth-generation community banker and current Fed governor, as the government’s most influential banking regulator.

Another engine of value creation for Wall Street that has been slow in recent years is the IPO market — which is also set to pick up.

The major U.S. index futures are currently pointing to a higher open on Friday, with stocks likely to move back to the upside after