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US Stocks to Power Global Rally, Morgan Stanley Strategists Say

(Bloomberg) -- US equities are likely to drive the global rally in the coming months on an improving corporate earnings outlook and a weaker dollar, according to cross-asset strategists at Morgan Stanley.Most Read from BloombergCan Frank Gehry’s ‘Grand LA’ Make Downtown Feel Like a Neighborhood?Chicago’s O’Hare Airport Seeks Up to $4.3 Billion of Muni DebtNJ Transit Makes Deal With Engineers, Ending Three-Day StrikeThe team led by Serena Tang turned overweight on US stocks and Treasuries, while

Mnuchin Flags US Budget Deficit as Bigger Worry Than Trade Gap

(Bloomberg) -- Former United States Treasury Secretary Steven Mnuchin said he’s more alarmed by the country’s growing budget deficit than its trade imbalances, and urged Washington to prioritize fiscal repair. Most Read from BloombergCan Frank Gehry’s ‘Grand LA’ Make Downtown Feel Like a Neighborhood?Chicago’s O’Hare Airport Seeks Up to $4.3 Billion of Muni DebtNJ Transit Makes Deal With Engineers, Ending Three-Day Strike“I’m very concerned,” he said during a panel discussion at the Qatar Econom

Just 8% of Italian enterprises using AI, many people lack digital know-how

ROME (Reuters) -In Italy, long burdened by slow economic growth, the number of companies using artificial intelligence is limited compared to other European Union countries, according to figures released on Wednesday by national statistics bureau ISTAT. In its wide-ranging annual report, ISTAT said that only eight out of 100 Italian enterprises were using AI last year, a lower percentage than the figure for France and Spain, and well below the level of almost 20% in Germany. In general, digital know-how in Italy falls short of European targets, ISTAT said.

Off-price retailer TJX beats sales estimate as tariff uncertainty looms large

(Reuters) -TJX Cos maintained its annual forecasts on Wednesday and flagged an impact from U.S. tariffs, while resilient consumer demand for off-price goods amid an uncertain economy drove a quarterly sales beat for the TJ Maxx parent. Investors and analysts have said off-price retailers such as TJ Maxx, which rely on expansive sourcing strategies and inventory management, mostly from middlemen in the U.S., could largely sidestep any direct hit from the new China tariffs in the near term and gain market share from department stores. The company expects comparable sales to grow 2% to 3% during the current quarter, compared with analysts' estimate of a 2.98% growth, according to data compiled by LSEG.

TJX: Fiscal Q1 Earnings Snapshot

On a per-share basis, the Framingham, Massachusetts-based company said it had profit of 92 cents. The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 90 cents per share.