🇯🇵 Japan jumped

Home Depot beat expectations | Japan had a bumper quarter | [TOGETHER WITH]( Hi {NAME}, here's what you need to know for August 16th in 3:14 minutes. 🔥 2023 has been a red-hot year for AI and for Japan – and the latest [Finimize Podcast,]( delving into both those sizzling themes, isn’t one to miss. Catch Rathbones’ [Edward Smith]( talking to Finimize VP of Content Carl Hazeley about everything from interest rates to the year’s hottest themes. [Listen in here]( Today's big stories - Home Depot defied the odds – posting brawny results despite consumers’ caution - Here’s how to stress-test your portfolio – [Read Now]( - Japan’s economy impressed last quarter, but it’s mainly got its pals to thank for that Nailing The Numbers [Nailing The Numbers] What’s going on here? Home Depot had a surprisingly good quarter, with sales and profit [hammering]( home that success. What does this mean? After nearly three years of soaring demand, Home Depot braced itself for a more challenging 2023, anticipating a return to pre-pandemic norms. But while there were some signs of strain, the situation wasn’t as dire as many predicted. Sure, the financial pinch has made folks hesitant about major renovations, and the big-ticket items that go along with that – but they’re still keen on smaller home projects, segments where Home Depot continues to shine. And professional contractors and builders, too, are keeping the registers ringing as they tackle their project backlogs. So even though the DIY behemoth recorded a 2% dip in sales compared to the same quarter last year, it outperformed both sales and profit forecasts. Why should I care? Zooming in: Safe as houses. Home Depot’s keeping its annual forecast pretty conservative, despite the beat. But when it comes to the long haul, it’s feeling bullish – pointing to the US housing shortage as a potential sales booster for years to come. In fact, the firm thinks it could be a decade before housing supply catches up with demand. And while the real estate market isn’t currently in the best shape, it could be on the up: recent data [revealed]( that permits for housing construction surged to a twelve-month high in June. That uptick signals a wave of new homes in the pipeline – and as everyone knows, new homes make for plenty of trips to Home Depot. The bigger picture: Living it large. US consumers are really showing their resilience. Retail sales [rose]( by 0.7% in July, easily beating expectations – and wages, which are finally outpacing inflation, probably helped. Combined with Home Depot’s beefy performance, this could be a sign of what to expect when Target and Walmart’s results are released later this week too. You might also like: [The housing market should’ve been killed off. Here's why it’s still standing – and how long that’ll last.]( Copy to share story: [/nailing-numbers]( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Nailing The Numbers&utm_campaign=daily-global-16-08-2023&utm_source=email) Analyst Take To Take The Fear Out Of A Possible Market Selloff, You Need A Stress Test [To Take The Fear Out Of A Possible Market Selloff, You Need A Stress Test]( By Paul Allison, Analyst If you’re worried the recent wobble in US stocks could [turn into something uglier](, but still feel confident about the long-term prospects of your investments, you might be wondering what to do. And, sure, you could think about selling your stocks and buying them back after a dip, but that involves trying to perfectly time the market, and that [rarely works out]( for anyone. Or you could [do nothing](, and keep your eyes on the long-term prize. That’s often the safer option – after all, the selloff might never happen anyway. But there’s also a third option, and it’s the best of the three: you could [stress-test your portfolio](. That’s today’s Insight: [my simple, two-step guide to stress-testing your portfolio.]( [Read or listen to the Insight here]( SPONSORED BY CFA INSTITUTE Make your resume stand out in today’s hyper-competitive environment Today’s climate demands an unshakeable grip on both the investing basics and new-age tech. Problem is, mastering both will cost you time and money by the bucketload – not to mention the hassle of finding reliable sources yourself. Enter, [the investing deal of the decade]( (maybe). [CFA Institute’s Investment Foundation Certificate]( will run you through the traditional theory of the investing industry, and you’ll work through real-life case studies to develop practical skills. Then there’s CFA’s [DeFi: Introduction to Blockchain and Cryptocurrency course](: a future-focused masterclass that’ll break down complex tech to [develop your digital literary skills](. And you bet the world will find out about your ramped-up know-how: pass the tests, and you can [add a certificate and shiny digital badge to your resume]( and social media channels. [Add both courses to your basket]( and use the code [FINIMIZEDEFI2023]( at checkout, and you’ll get the DeFi course for free. That’s a $689 bundle, [yours for just $350](. [Find Out More]( When you support our sponsors, you support us. Thanks for that. Yen And Yang [Yen And Yang] What’s going on here? Data out on Tuesday [showed]( that Japan’s economy outstripped expectations last quarter, with exports balancing out weak domestic demand. What does this mean? Japan’s economy dazzled last quarter, boasting 6% annualized growth – its strongest showing since late 2020. And that wasn’t just a minor win for the country: it was actually double what analysts had on their charts. Exports did a lot of the heavy lifting there, with auto shipments to the US and Europe taking the lead. And the limping Japanese yen, near its weakest in decades, meant those takings packed an even bigger punch when brought home. Tourism made a comeback too, recapturing over two-thirds of its pre-pandemic buzz. But not everything’s in full bloom: domestic consumption, which forms the heart of Japan’s economy, took a 0.5% hit. That comes as businesses and consumers alike are tightening their belts, now that the ghost of inflation, after years of no-shows, is spooking spenders. Why should I care? The bigger picture: Leaning on friends. While Japan’s recent economic glow-up is commendable, it’s mostly fueled by external demand. And that’s a little bit risky, given that Western economies – which drove a lot of this growth – are facing their own set of challenges at the moment. At any rate, economists think this export-driven momentum might not last – and if they’re right, Japan could find itself in a tricky spot. Given that backdrop, it’s unlikely we’ll see the central bank pulling back on its hefty stimulus measures anytime soon, as some were speculating. Zooming out: Peas in a pod. Japan isn’t alone in its domestic demand dilemma. After all, China’s recent data revealed a similar problem, with retail sales growing surprisingly slowly in July. But China’s already making moves: on Tuesday its central bank made the biggest [cut]( to a key interest rate since 2020, in a bid to give the economy the boost it clearly needs. You might also like: [Warren Buffett loves Japan. Your portfolio might love it too.]( Copy to share story: [/yen-and-yang]( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? 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