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---US outperforming Europe--- Just 3 short months back, 60% of fund managers expected European indices to outperform American ones. But despite the ongoing narrative about European stocks gaining ground on their American counterparts, the data tells a different story. The Stoxx 600, Europe's benchmark index, has underperformed the S&P 500 by 9% this year. This marks two years of lagging performance, during a time when many portfolio managers, fund managers, and investors have been bullish on rotating from American to European markets. So what’s driving this divergence between expectations and reality? A closer look at the macro reveals some key factors at play. The US economy is showing more resilience than expected, while Europe is facing headwinds. Germany, Europe's largest economy, surprisingly contracted in Q2, while the rest of the Eurozone managed just 1.2% annual growth. In contrast, America's GDP continued to outperform analyst expectations, growing at a 3.6% annual rate. Investors are also anticipating that the US Federal Reserve will cut rates sooner and more aggressively than previously thought - a positive signal for US markets. Current pricing indicates a 70% probability of a 25 basis point cut, with a 30% chance of a 50 basis point cut! It's worth noting that European stocks are still trading at a significant discount compared to their American peers. The Stoxx 600 trades at about 14 times forward earnings, while the S&P 500 sits at 21 - but this is because S&P 500 earnings forecasts are on an upward trajectory, while Stoxx 600 estimates have remained flat since June. Interestingly, investors are becoming more nuanced in their approach to the US market. The S&P 500 equal-weighted index, which reduces the impact of tech giants, has been outperforming the Nasdaq. This suggests there's value to be found beyond just the big tech names, indicating that US market growth is driven by broader fundamentals rather than just AI hype. But what’s the takeaway for investors? Global diversification still remains important, but the US market continues to defy expectations with its strong performance. Europe's lower valuations will definitely offer opportunities to savvier investors, however, American markets are still setting the pace for the rest of the world. As always, it's wise to maintain a balanced portfolio - don't put all your eggs in one basket, or one continent for that matter. #MarketAnalysis #S&P500 #Stoxx600 #GlobalMarkets #USMarkets #EuropeMarkets #FederalReserve #GDP #indices #benchmark Nasdaq S&P Global STOXX Appreciate

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Indians are spending more on restaurants, entertainment, conveyance and consumer durables than ever before. This is why, the Indian consumer retail market promises to be a multi-decadal, multi-bagger investment opportunity. 💣A report by wealth management firm Bernstein values the Indian consumer retail market opportunity at $1 trillion. Consumption by Indians has been on a gradual upward trajectory and is slated to go higher. 🚀🚀Household consumption data shows that between FY1999-00 and FY2022-23, household expenditure zoomed up by a CAGR of 9.6%. It isn’t just the increase in spending but where Indians are spending that matters more. While expenditure on basic food items grew by 8.1% CAGR, spending on packaged goods/eating out jumped by 13%. Basically, we are going to restaurants more often and ordering from food delivery apps has become more mainstream. Entertainment spending went up by 12%, whereas conveyance expenses shot up by 13%. Essentially, Indians are now more focused on getting a bang for their buck, and shelling out money in multiplexes and stand-up gigs or hailing cabs is now commonplace. This phenomenon, Bernstein believes, is a $1 trillion opportunity and will continue growing at 9% CAGR in the coming decade. Till now, all discussions and talks on consumer spending in India have zeroed in on the top 10% of Indian consumers. This ‘affluent Indian’ group have higher disposable income, are influenced by Western media, have a very social media presence and are considered the crème de la crème by FMCG companies. However, Bernstein believes that there is “a deeper, longer and more profitable opportunity” in the next 30%. The next 30% strata is - keen on spending as much as the top 10% - consumes the same amount of mobile data as the top 10% and  - has the same life and career aspirations. The 30% strata has, nearabout, 43 crore Indians, and commands a GDP of $1,400 billion. They also account for 43% of India’s household spending and 38% of domestic discretionary spending. Disclaimer: Investments in securities markets are subject to market risks. Read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory

Happy to announce that Appreciate's definitive guide for Indians investing in US markets - 'From Dalal Street to Wall Street' has been featured on CNBCTV18. Millions of Indian investors want to invest, but they are unsure of the procedural formalities, the INR-USD conversion, the tax implications and more. We bunched all these niggling questions and worries, and delivered a simple, easy-to-understand primer for quick reference. Frequently asked questions like - How much can an Indian investor invest overseas? - How have the US equity markets performed vis-a-vis Indian markets? - What investment options are available when investing overseas? - Which sectors have delivered stellar returns, and which ones look promising? - What are the tax implications for investments? - Will the investments be secure? ..have been answered clearly and without  jargon. The report also focuses on how investors can leverage the power of currency depreciation in their favor, and extract maximum gains from their portfolios! Read our deep dive into US market investments to learn how you can boost your portfolio! Check out the report from the link in my comments.

Subho Moulik at GFF '24 on the panel 'From Savings to Shareholding' - on the ways Appreciate and fintech is unlocking access to both investments and credit for Indians #gff #globalfintechfest #fintech #saving #investing #credit #appreciate

Team Appreciate live from the Global Fintech Fest (GFF) 🚀 We're here to showcase our fintech offerings amid the energy and excitement at BKC, Mumbai! Since day one, our mission has been to democratize finance for 1.4 billion Indians and revolutionize the way individuals manage their money. Haven’t met our team yet? Catch us today at GFF '24 between 1-6 PM.

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Appreciate is proud to launch solutions for businesses in financial services. Meet us to learn more, at GFF '24 at the Jio Convention Centre in Mumbai. 28-30 Aug | Booth A13-17 Discover how our cutting-edge fintech solutions can drive your business growth and also personal finances:

The Union Budget this year brought taxation parity between domestic and foreign equity investments, as well as reduced LTCG duration threshold - both very positive developments for Indians interested in global diversification. At Appreciate we were already seeing strong interest from investors and these developments should accelerate it even further. Spoke to Financial Express (India) about this - read more at the link below.

The anti-obesity drug revolution is here! Two pharma majors — Eli Lilly and Novo Nordisk — are riding this wave and their returns indicate that both retail and institutional investors are busy stockpiling their shares. This week, Eli Lilly released the results of a recent clinical study. The report indicated that weekly injections of Zepbound for more than three years reduced the risk of progression to Type 2 diabetes by 94% in overweight pre-diabetic people. The drug also led to a significant weight reduction of 15% and 23% depending on the dosage given. Novo Nordisk’s Wegovy has been equally, if not more, impressive. A large study conducted by the company found that Wegovy not only helped patients lose weight but also cut back the risk of heart attacks, strokes and cardiovascular deaths by a whopping 20%. Nordisk claims that Wegovy can also reduce cholesterol and blood pressure issues, while also improving cardiovascular health in people who don’t have diabetes. Investment bank Morgan Stanley believes that the global market for anti-obesity drugs will balloon to $105 billion in 2030, up from an earlier projection of $77 billion. In 2023, anti-obesity drugs clocked in sales of $6 billion. Will you invest in the two pharma majors? Let us know in the comments. Disclaimer: Investments in securities markets are subject to market risks. Read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory