Price tags, Tech Rallies, and Luxury Dips: Late April

It’s April 23rd, and the stock market is finally catching its breath after the chaos of the Iran conflict last month. But while some sectors are celebrating, others, like luxury houses, are still getting the spice. In April 22nd, S&P500 hit a record of 7,137.90 after the march dip caused by the war. S&P500 recovered nearly 12.5% since it’s lows in late march.

When it’s about Hermes, it had a drop of 8-10% just last week because the sales started to slow down in Asia, now it is trading around €1,645. The luxury king, which is LVMH, is down over 20% since the start of the year, and it is around €490. For Kering, ever since Gucci started struggling, it is at €243, down 11% just in the last couple of days.

when it comes to the answer of ‘‘what’s the reason?’’, it is because when there is a war and high inflation, even the wealthy get cautious. We can see a two speed market :Tech and AI are flying up, but luxury fashion is waiting for the world to stable again.