Institutions: The Buying Momentum on Dips May Continue Until the End of Tariff Suspension
According to a report by Jinse Finance, Chris Zaccarelli, Chief Investment Officer of Northlight Asset Management, stated that the market breathed a sigh of relief today as employment data exceeded expectations. Although concerns about a recession are still brewing, the momentum of buying on dips may continue, at least until the tariff suspension ends. We have already seen how financial markets react if the Trump administration continues with its initial tariff plans, so unless they adopt a different strategy when the 90-day suspension period expires in July, we will see market trends similar to the first week of April. If the Trump administration adjusts its tariff policy, changes the ultimate goals, and exempts unreasonable tariff levels, the real economy can readjust, and the market will be unhurried. However, we are not out of the woods yet.
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On October 8, Levi Strauss (LEVI.N) shares fell 1.3% in pre-market trading to $19.25 after the company reported lower-than-expected sales in the U.S. and Europe. BTIG commented: “This quarter, the European direct-to-consumer (DTC) business was hit by unusually warm weather, but as temperatures return to normal, foot traffic and sales trends have improved, maintaining a positive outlook in early Q4.” The brokerage also noted that the company remains strong in wholesale, e-commerce, and market share in jeans, but its “back-to-school” marketing campaign did not meet expectations. Benefiting from tariff refunds on Wednesday, the company raised its annual profit forecast and is betting on strong demand for its premium jeans and sweaters during the holiday season. Sixteen analysts have an average “buy” rating; the median price target is $27, according to LSEG. The stock has risen 6% year-to-date as of the previous close.
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