海外研报

European Morning Research Summary

This summary is compiled from research reports previously published by Barclays Equity Research. A full list of all publications is available on

Downgrade Retail to Neutral: 2Q24 Promos Suggest Weakening Demand

We downgrade Retail to Neutral from Positive on erosion ofinventory margin recapture as promos intensify and demand

Global Macro Watch Known Unknowns 11 – 16 August

July US CPI should be good enough for a September cutWe forecast headline CPI rose by 0.3% mom in July, owing mainly to a pickup in core

Latest Thoughts Ahead of Kazatomprom (KAP) Production Guidance

In this note, we update estimates for Cameco Corporation (CCJ, Buy) following2Q24 results. While the quarter came in below GS and Street estimates, we note

Employment revisions – Smaller objects in rearview mirror

◼ Job growth was not as strong as previously thought between April 2023 and March 2024, but the preliminary benchmark revisions don't alter the contours of our near-term forecast for the labor

US MARKET INTELLGENCE:MORNING BRIEFING

US: Futs are higher to start the week with small-caps outperforming. Pre-mkt, NVDA (+94bps)is leading both Mag7 and Semis higher as bond yields continue to decline as yield curve bullsteepens. USD is flat and commodities are bid with both Energy and