{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Closing Price — Luxury Equities & Alternative Asset Signals","title":"Luxury Stocks Fall Worldwide as the Rally Pauses; Gold Breaks Its Record Streak; the Auction Market Holds Firm","html":"<iframe width=\"100%\" height=\"180\" frameborder=\"no\" scrolling=\"no\" seamless src=\"https://share.transistor.fm/e/83f86c07\"></iframe>","width":"100%","height":180,"duration":300,"description":"June 17: Luxury Stocks Fall Worldwide as the Rally Pauses; Gold Breaks Its Record Streak; the Auction Market Holds Firm\nAfter a run of records, luxury stocks fell on both sides of the Atlantic, the Dow and S&P slipped, and even gold retreated all ahead of the Fed's first decision under Kevin Warsh. The one market that didn't flinch: the auction room.\nALT/FNDATA\n- Book a Data Sandbox demo: https://altfndata.com/go/cp-260617\n- Market reports: https://altfndata.com/go/cp-260617-r\n- Podcast episodes: https://altfndata.com/go/cp-260617-p\nLuxury Equities — The Close\n- Europe, all lower: Burberry (BRBY) −2.6% (weakest); LVMH (MC) −1.8%; Watches of Switzerland (WOSG) −1.5%; Hermès (RMS) −1.3%; Richemont (CFR) −0.5%; Kering (KER) −0.2%; Swatch (UHR) −0.1%.\n- US, all lower except one: Capri/Versace (CPRI) −5.0% (worst on the board); Zegna (ZGN) −4.0%; Ferrari (RACE) −3.2%; Tapestry/Coach (TPR) −2.4%; Signet (SIG) −1.8%; Ralph Lauren (RL) −0.7%. Lone gainer: Movado (MOV) +0.4% — a mid-market fashion-watch maker squeezed by smartwatches and untouched by the collectible-watch boom, so a name investors give little credit.\nGold Takes a Breather\n- Gold closed ~$4,276/oz, −1.3% with its first down day after back-to-back records. Silver −2.8%. Oil slid again to ~$75/bbl.\n- For once, the hard-asset trade and the stock market moved together, both lower, as investors took profits after a powerful rally.\nThe Saleroom Doesn't Flinch\n- Stocks fell, gold fell — the collectibles market did not. ALT/FNDATA data: across watches and jewelry alone, 26 separate lots have each sold for more than $1M in the past 90 days (19 of them jewelry).\n- A pullback in a luxury company's share price is not a pullback in the price of a trophy diamond.\nThe Tape\n- The Dow fell ~1.0% (off yesterday's record); the S&P 500 lost ~1.2%, tech-led; the Nasdaq slipped too.\n- The driver is the calendar: the Federal Reserve's first rate decision under new chair Kevin Warsh is due later this week, and investors are...","thumbnail_url":"https://img.transistorcdn.com/-hOE2p7i6o042-uL_U7DDqKjx_Az8ErebwSEdvS9Gfo/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9jMTc5/NmRjNzQ2MTE0NmFl/YWY4OTQyODMxMTlh/ZGNiYy5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}