Wesfarmers to Fall From Favor When Rate Cuts Happen -- Market Talk

Dow Jones

Oct 23, 2024

2144 GMT - Investors should position themselves for interest-rate cuts in Australia, says Bell Potter. It anticipates a rotation away from Wesfarmers, which looks expensive compared to mid-cap and small-cap stocks. Improving consumer confidence can drive more discretionary spending on products such as clothing and electronics, strategist Rob Crookston says. "While Wesfarmers has benefited from consumers trading down in the current high-interest rate environment, this trend will likely reverse as household balance sheets strengthen," Bell Potter says. It thinks consensus earnings forecasts for retailers such as JB Hi-Fi, Premier Investments and Eagers Automotive look too conservative. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

October 22, 2024 17:44 ET (21:44 GMT)

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It anticipates a rotation away from Wesfarmers, which looks expensive compared to mid-cap and small-cap stocks. Improving consumer confidence can drive more discretionary spending on products such as clothing and electronics, strategist Rob Crookston says. \"While Wesfarmers has benefited from consumers trading down in the current high-interest rate environment, this trend will likely reverse as household balance sheets strengthen,\" Bell Potter says. It thinks consensus earnings forecasts for retailers such as JB Hi-Fi, Premier Investments and Eagers Automotive look too conservative. (david.winning@wsj.com; @dwinningWSJ) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  October 22, 2024 17:44 ET (21:44 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wesfarmers to Fall From Favor When Rate Cuts Happen -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWesfarmers to Fall From Favor When Rate Cuts Happen -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-10-23 05:44</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     2144 GMT - Investors should position themselves for interest-rate cuts in Australia, says Bell Potter. It anticipates a rotation away from Wesfarmers, which looks expensive compared to mid-cap and small-cap stocks. Improving consumer confidence can drive more discretionary spending on products such as clothing and electronics, strategist Rob Crookston says. \"While Wesfarmers has benefited from consumers trading down in the current high-interest rate environment, this trend will likely reverse as household balance sheets strengthen,\" Bell Potter says. It thinks consensus earnings forecasts for retailers such as JB Hi-Fi, Premier Investments and Eagers Automotive look too conservative. (david.winning@wsj.com; @dwinningWSJ) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  October 22, 2024 17:44 ET (21:44 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"WES.AU","symbol_name":"WESFARMERS LTD","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2477822394","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2477822394","pubTimestamp":1729633440,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"2144 GMT - Investors should position themselves for interest-rate cuts in Australia, says Bell Potter. It anticipates a rotation away from Wesfarmers, which looks expensive compared to mid-cap and small-cap stocks. Improving consumer confidence can drive more discretionary spending on products such as clothing and electronics, strategist Rob Crookston says. \"While Wesfarmers has benefited from consumers trading down in the current high-interest rate environment, this trend will likely reverse as household balance sheets strengthen,\" Bell Potter says. It thinks consensus earnings forecasts for retailers such as JB Hi-Fi, Premier Investments and Eagers Automotive look too conservative. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"WES.AU":"WESFARMERS LTD","BK4220":"综合零售","BK7021":"服装零售","WFAFY":"Wesfarmers Ltd.","BK7001":"电脑与电子产品零售","BK7511":"ESG概念","APE.AU":"Eagers Automotive Ltd","BK7143":"汽车零售","JBH.AU":"JB HI-FI LTD","PMV.AU":"PREMIER INVESTMENTS LIMITED","BK4114":"综合货品商店","BK7041":"综合货品商店","BK7153":"综合零售"},"translate_title":"降息时西农集团将失宠——市场传言","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"WES.AU":0.9,"PMV.AU":0.9,"APE.AU":0.9,"WFAFY":0.9,"JBH.AU":0.9},"content_text":"2144 GMT - Investors should position themselves for interest-rate cuts in Australia, says Bell Potter. It anticipates a rotation away from Wesfarmers, which looks expensive compared to mid-cap and small-cap stocks. Improving consumer confidence can drive more discretionary spending on products such as clothing and electronics, strategist Rob Crookston says. \"While Wesfarmers has benefited from consumers trading down in the current high-interest rate environment, this trend will likely reverse as household balance sheets strengthen,\" Bell Potter says. It thinks consensus earnings forecasts for retailers such as JB Hi-Fi, Premier Investments and Eagers Automotive look too conservative. (david.winning@wsj.com; @dwinningWSJ) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  October 22, 2024 17:44 ET (21:44 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}