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%.

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

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.

Buffett -- as well as his late great partner Charlie Munger -- would recommend avoiding leverage at all costs in your portfolio. Why? Because when the market turns (which it will inevitably do at times), the downside can wipe you out. The levered Nasdaq ETF went into a massive drawdown in 2022, and that was just one year of bad returns.

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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