lvmh, down 30%. there are different views in the market on the underperformance of what's happening at the different luxury stops. at kering, doing the turnaround, gucci in the space where certainly the aspirational buyer is buying less, it's difficult for them. that's why they've been repositioning their brands, particularly gucci, to the higher end of the market. we have to wait and see whether that works. looking at the numbers, it looks like they're buying into it. >> analysts are saying for the luxury goods sector, they're picking up on the broader impact of the market and the likes of jpmorgan saying burberry, that's the most applicable to that stock. we had the burberry warning in january, that there's a tougher challenge ahead. they saw a worsening level appetite for goods at this stage. that is the question. do they deserve these sort of laudables? you look at the market expansion story. we're not on the end of the road on that. and investment, they talk about if kering is warranted, if acqu

didn't. >> lvmh had a great number.asn't nearly as bad. what i see happening is if you look at the casino stocks, macao has come back. they're letting people gamble in macao. they're very fickle, but i think what you said about the ultra-rich is very important, because unlike, say, senator warren, who can kind of rap about the ultra-rich, their government can jail the ultra-rich as a much more critical thing. so what we're seeing is the crackdown, again, on conspicuous consumption that, david, i think, must be frightening all of the wealthy in china. has to be. they're not spending. >> then i'll go to pdd holdings, which is, of course, a very important company there, temu is one of its main businesses as our viewers may where ell know, things look pretty good there. pdd is up sharply, 123% overall increase in revenues from the company, and this includes, obviously, domestic, china. it may also be on the earnings side that they did a better job in terms of executing, and so margin's a bit better, and/or the business is j

the retail basket of stocks, jd.com and h&m and dior is in the red along with lvmh and boss.hemicals down .40%. banking names down as well as autos. bmw down .9%. travel and leisure in reverse along with industrials. healthcare is a bump for real estate and improving for insurance names. telcos moving higher. vodafone tracks weaker as it is in talks with the regulator about consolidation. telcos are the third top per for performer. look at the index here this morning. we have anothernine or ten points to the upside. we are just shy of 7,900 points. if you chart this index, we don't stay at the high level for long. is it going to be the same situation this time around? a look at the other markets. french mark is down .13%. the flat performance from spain with .10% from italy. we are drifting on the smi. steve. >>> karen, not the first time i had a problem. i'm dubious of the 79% increase for galderma. unless i'm missing something. from 53? take with a pinch of salt what you see on the right side of the screen. on the left side the screen, that is accurate. they were issued at

lvmh. this is the largest of luxury goods on earth. built by the world's richest man. high end apparel. l lewis vuitton, bulgari, dior, fendi, veuve and more. champagne, they have a lot of them. go for the gold we served at our wedding. it completely irrelevant. they own sephora. we did not have our wedding at kohl that also features them. they are aimed at the rich. they delivered a blow out quarter, the stock has been a phenomenal long-term performer, i bet it will keep winning but you might want to wait for a pull back. now, the fourth one, a swiss luxury goods at play. you know them i thought we owned the company from the boxes in the hallway but it is owned by lvmh. now, the quarter was slow they had positive things to say about china. few european companies are thriving in china. they have something special going. the next one, is sap. software company that comes to the show. last time in july. took time to adjust to the cloud. they got up to speed and now they are making big money off of artificial intelligence, stock up 25% for the year. it is probably not done

the warning contrasts with rivals lvmh and hermes, whose sales have remained resilient.n tranche of an international monetary fund bailout deal. the country has been experiencing an ongoing economic crisis with soaring inflation and last summer agreed a $3 billion bailout deal with the imf to avoid defaulting. the bakery chain greggs has been hit by an it problem forcing some stores to shut or go cash only. it follows card payment outages at the supermarkets sainsbury�*s and tesco on saturday, and mcdonald's last friday. greggs told the bbc a technical issue had affected tills in some shops, but that the majority of shops affected are now able to take card and cash payments again. you are up—to—date. we will see you for another edition of world business report very soon, goodbye! hello from the bbc sport centre. i'm olly foster. a spanish court has ruled that the former barcelona and brazil footballer dani alves can be conditionally released from jail on a i million euro bail pending an appeal against his conviction for rape. the ao—year—old has served about a quarter of

that i think is sort of part of the triple ripple effect here that is moving overseas in shares of lvmhng. >> and didn't we see some weakness in gucci's parent as well, on the pure luxury side. >> yes. >> the lulu thing is amazing, because analysts say the long term story hasn't changed here but there is sensitivity among investors that there is possibility of not a broad consumer slowdown but the brand is no longer as bullet-proof as it has been. >> exactly. there are so many brands that stay strong for some time, nike being one of them. and look at where they are now. right? they're not, not strong. they're a very strong brand. very preferred by teens and a number of athletes alike. but they're still seeing some weakness. so that is sort of a worry that i think investors have, that for some reason, at least right now, analysts don't, and they're looking past it, but you've got more competitors over the years, maybe any number of brands that has hair own athletic leisure way that has maybe gotten better when it comes to performance and quality. so i mean it is not out of the realm of p

lvmh. schneider and richemont and novo nordisk. what made you put the list of stocks together? what is the characteristic of the super 7 to our magnificent seven? >> what we noticed this year is there has been an interesting dynamic playing out in the european market. european markets are doing well. out performing the u.s. it is happening with the narrowing of the returns to these few stocks. we heard about narrowing in the u.s. last year. it did not happen in europe. that is a new dynamic. there is a catch up of the european market from the perspective. of course, caveat here is i would like the broadening of the market with circumcyclical marke is a normal situation we are having righto the catch up of last year. the risk is the market narrows further this year and then we search for the characteristics of the magnificent seven that we could find in the european markets. we looked for superior growth and superior margins and also for economic moves. these are the companies that tick these boxes. >> we will continue it show the list. novo nordisk with a 52-week high on trial

named undervalued in this market >> look at luxury goods, king of luxury goods is lvmh with over 75 brandskly all different categories, hospitality, sephora and key brands like christian dior and louis vuitton one. ones getting benefit of the first pick-up. chinese again to travel, spend r spend more on accessories they'll be a beneficiary and unique creativity drives that. other names out there. look at tapestry spent time with management there. coach brand delivering higher average unit retail selling prices and frankly gaining share. the tapestry capri acquisition still on the come but the confidence level them being able to integrate michael kors the other brand and deliver propertiability is higher today than what the acquisition was announced. >> give us three stocks on your "a" list don't choose your favorite children, but in a way i am. mentioned some go ahead >> bath & body works shift to the mall compelling and 40 million people in their loyalty program. ralph lauren expanding customer base focusing on other categories like outerwear, like accessories, like home a real driver for

it is household goods at the top and at the top is lvmh and burberry as well.he ftse 100 is 7,762. that territory is territory that the ftse 100 has struggled to hold before. we are seeing a bit of slippage by .10%. the french market is off to the next stop to the upside. we managed to scoop up .40%. the french market seeing kbgain along with the german market which is open for trade. out pacing the dax at 18,000. very are strong start for german stocks and gains reflected across the italian and spanish names. steve. >>> the spanish inflation data confirming what we thought was going to happen as well from the flash data. eu with 12-month inflation rate which fell in line of expectations of 2.9% in february to 3.9% in january. increasing the hopes that ecb will move sooner rather than later. we heard the comments from the council member from greece earlier on saying he has four times this year. the data which is what we heard which is in line with expectations. the core inflation up 3.5% in the 12 months through february. down from 3.6% in january. if you strip

and lvmh chief bernard if around know, musk and bezos rotated places, bernard if now worth about $197lling for new york community bank over the last two months and horrifically down the last two sessions. last two months the stock down 68%. the regional bank with major commercial real estate loan problems seeing, sure, a bit of relief at this hour. but will that last? former fdic chair sheila bair is here to tell us if new york community bank's problems are about to spread like a virus or if possible contagion can be contained. walmart and 3m at the top of the dow 30 heat map. just a few names at the very top. "the claman countdown" is coming right back. the nasdaq now down about 3% or 322 points -- 2% or 322 points. ♪ ♪ a force to be reckon with. no, not you saquon. hm? you! your business bank account with quickbooks money, now earns 5% apy. 5% apy? that's new! yup, that's how you business differently. an alternative to pills, voltaren is a clinically proven arthritis pain relief gel, which penetrates deep to target the source of pain with nonsteroidal anti-inflammatory medicine dire

were you able to see some of the things people are doing on fire fly you can't distinguish between lvmh and your own. it's like the highest end. >> that said since i think service soros, since the image generator came out from chatgpt, right, the one -- not -- the one of live motion, for example. >> that's used. >> adobe's stock has been down. >> it's a shamed small, medium sized businesses have adopted fire fly like you wouldn't believe. >> you're a believer. >> say my daughter used it for business in her shop. >> sure. >> a lot of creators - >> seeing some of the work, the marketing she's done. >> it's all adobe. it's rather amazing what you can do with the product and we're not creating -- we are not creative we're looking at whether the big art deal is going go through. >> well, there's creativity to everything, jim. come on. sure don't under sell it. >> oppenheimer over here, creativity -- >> i go usually in the house, people they don't call me dad. they call me oppenheimer >> good for you. i thought that was the name of your dog. >> no. scoop. >> scoop. >> i'm aware of your dog's

the company is struggling to keep up with rivals like lvmh and hermes as luxury sales have pulled, especiallyhe federal reserve open the door to higher bond yields? >> they only show two cuts for this year. we think you will see the curve flattening. if they see three cuts the two will probably rally. jonathan: that conversation is up next. ♪ jonathan: stocks turning positive in the last couple of minutes by not even .1%. all-time highs on the s&p coming into a federal reserve that will not cut interest rates in the minds of pre-much everybody forecast. yields lower by a single basis point. opening the door to higher bond yields. >> they only show two cuts for this year so they take out one cut. we think the two year will selloff. we think you'll see the dollar rally and we think you will see risk assets take it on the chin. if they show three cuts as they had in december, we think the two year will probably rally five basis points and you will see the dollar weaken. jonathan: bond traders stepping up beds against treasuries, positioning themselves for a hawkish message from jay powell. greg

new magnificent seven is the foreign language version, what i found is interesting is it starts with lvmh. they have companies over there. schneider electric. you know schneider? >> i do. >> mr. big shot. >> wasn't schneider the super on a sitcom in the '70s. >> one day at a time. >> that's incredible. >> can i tell you some of mnuchin's movies that were good? >> what's the ben aflac, argo? >> accountant. and the star of that, besides affleck, burnthol. >> anyway. i'm glad to know, what was his name, schneider in one day at a time. let's get you back on track to schneider, the french company. >> what's your point? >> my point is that people are gravitating toward europe. you have the ecb being very benign. you have european companies that are doing far better than what was once our magnificent seven. >> although data track yesterday, nonu.s. stocks underperforming s&p by a full standard deviation. >> look, there's japan, there's some of europe and kind of the rest of the world. i think, by the way, japan, i feel like i blew it. warren buffett buying it every day, and i'm focused on occide

the warning contrasts with rivals lvmh and hermes whose sales have remained resilient.ix—day overtime ban in a long—running dispute over pay. that's according to their union aslef. that could threaten more travel chaos for passengers across the country. increasing unhappiness among younger people has caused the united states and some western european countries to slip down a global wellbeing index. finland is at the top of the world happiness report for the seventh year in a row. here you can see a couple of other scandinavian nations, denmark and sweden, in the top five. but there are some diversions when you de—aggregate the data. lithuania, for example tops the list for children and young people. joining me now is miika makitalo, ceo of happyornot, a finnish business that sells devices to measure customer satisfaction on everything from toilet cleanliness to airport security. good to have you with this. why is finland so happy? {iii good to have you with this. why is finland so happy?— good to have you with this. why is finland so happy? of course we are ha . and fin

lvmh ceo was not far behind.that has been amazon's fortunes rising with testsla's fortunes come back down. >> you get the island and the jet and you are just like the rest of us. are they really different? >> a little different. >> they have good cooks. how come all the best chefs are men? >> that's not true. >>> coming up, apple's market dominance. we don't want to get into this. >> julia child. >> you have one. she's dead. aching a m ber... and more about discovering magic. rich is being able to keep your loved ones close. and also send them away. rich is living life your way. and having someone who can help you get there. the key to being rich is knowing what counts. oh, it's cold outside. time to protect your vehicle from winter's wrath. of course, the hot sun can be tough on vehicles too. you need weathertech. laser measured floorliners and cargo liner will shield the carpeting from sand and snow. for your interior, there's seat protector and sunshade. plus, mud flaps and bumpstep for the exterior. while the

jonathan: we are booking our nvidia gains and buying handbags from lvmh. lisa: all of those stock investors are cashing out. the nvidia insiders are going and buying a lot of hermes. jonathan: sharon bell of goldman. we talked a lot about granolas . lisa: basically weight loss, big tech, and then you have your luxury players. that is in a nutshell. jonathan: a programming note. later this morning a fantastic guest, howard marks of oaktree capital will join us around 8:00 eastern time. i was going through his memo from earlier this year. there are great lines in this. "the worst of loons made at the best of times." because of the validity of the idea of making behind it in low return times investments are made that should not be made. buildings are built that cannot be built. i want to know how many buildings are built that should not be built. lisa: this raises the question about china. basically he is talking about the zombies kept alive during those times and have unsustainable business models. he talked about the six foot man who drowns in five feet of