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asian markets plunge as wall street fears escalate over inflation and tariffs
Asian shares plummeted on Monday, with Tokyo's Nikkei 225 dropping over 4% following a significant retreat on Wall Street, driven by fears of worsening inflation and a slowing U.S. economy amid escalating trade tensions. The S&P 500 experienced its worst day in two years, falling 2%, while consumer pessimism about future finances surged, raising concerns about a potential stagflation scenario. As markets brace for upcoming tariff announcements, oil prices and U.S. futures also declined.
Man Group plc acquired a new position in Oxford Industries valued at approximately $3.12 million, with institutional investors holding 91.16% of the stock. Analysts have recently lowered the price target for Oxford Industries, with UBS Group setting it at $57, indicating a potential downside. The company reported a quarterly EPS of $1.37, surpassing estimates, but revenue declined 3.4% year-over-year.
Oxford Industries, which offers sportswear under the Tommy Bahama and Lilly Pulitzer brands, has received a "sector weight" rating from KeyCorp. Analysts have lowered target prices, with Telsey Advisory Group reducing it from $86 to $68, while UBS cut theirs from $81 to $80. The company reported earnings of $1.37 per share, exceeding expectations, but revenue declined 3.4% year-over-year.
Inflation Trends and Economic Policies Shape December Market Outlook
US December consumer price inflation is expected to show modest gains, with a significant rise in egg prices due to a supply shock. President-elect Trump plans to create an "External Revenue Service" to collect tariffs and duties, indicating a shift in trade policy. Meanwhile, UK inflation data fell short of expectations, primarily driven by housing costs, suggesting that negative perceptions may stem more from government policy than economic conditions.
Oxford Industries Maintains Neutral Rating Amid Diverse Apparel Brand Portfolio
Oxford Industries, Inc. operates in the apparel industry, managing brands such as Tommy Bahama, Lilly Pulitzer, and Johnny Was. The company utilizes direct-to-consumer channels, including retail stores and e-commerce, alongside wholesale distribution to various retailers. Additionally, Tommy Bahama features foodservice operations linked to its retail locations.
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