This week, oil prices weakened and stock futures rose after US President Donald Trump called off proposed US attacks on Iran to make way for talks. Markets are also responding positively to investor demand for robust markers of growth – revenue and cash flow. Earnings calls this quarter have more or less helped buoy this sentiment with more than 86 per cent of companies on the S&P 500 index beating analysts' estimates for revenue.
Four of the so-called Magnificent 7 – Apple, Amazon, Meta and Microsoft – have released earnings reports over the last two weeks. Good revenue has saved a couple of these big movers, but AI investments have lost their shine, if only for the time being.
Given all this, investors are very much at the mercy of countries and companies.
However, the long-term investment outlook remains good for those who have not put all their eggs in one basket.
If you have a personal finance tip or experience to share, email us at pf@thenationalnews.com.
Dona Cheriyan, Digital Platforms Editor
Money & Me: From washing dishes to making Dh50 million through luxury watch service
George Flo is not easily surprised, but even he was taken aback when a 22-year-old walked through the door of The Heritage Club clutching a watch worth half a million dollars and needing quick cash because he had burnt through his monthly allowance.
“We never ask the question why you need the cash. It's not our business,” says the British-Cypriot entrepreneur who set up the Dubai-based luxury watch buyback service 10 months ago.
The business is currently custodian of just over Dh20 million in client assets. Mr Flo is not paying himself a salary – instead reinvesting everything back into the company, which he started following a two-year retirement in Cyprus after he sold his recruitment firm to South African bank Investec.
Read the full story here.
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