Post COVID-19, the luxury industry has taken hits after hits from multiple angles and aspects. The novelty is wearing off for entry-level consumers which discourages mass purchases,  and the purchase power weakening amongst a massive revenue source - Chinese customers - waning economic prospects.

The East Coast dock worker strike beginning early October, debating over automation labor replacement and wages, has once again put concerns over AI disrupting job markets back in the limelight.

Southwest Airlines shares jumped 4.7% last week, after board member Rakesh Gangwal made over $100 million in investments in the company between Sept 30th and Oct 1st. This is a rare occasion where Southwest has seen such positive news since the pandemic in 2020.

It is no secret that China’s economy has been stagnating. A deflationary spiral looming as the GDP deflator has declined for five consecutive quarters, and economic growth falling short of expectations—growing at just 4% nominal GDP, below the 5% target—the economy faces significant challenges.

As part of an initiative to enhance its economic prowess, China is strategizing its auto-exports to grow its global consumer market share and increase the country’s diplomatic influence.

For the past few months, the US economy has been poised in a precarious position: core inflation stubbornly persistent at a smidge above 3% YoY (above the Fed’s target of 2%), job market showing signs of weakness, and unemployment jumping to 4.3% in July (a three-year high).