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Demand cools: Some of the most coveted luxury items are losing a bit of mystique. Falling resale prices for Hermès Birkin bags and Rolex watches suggest demand is cooling, shortening wait lists and easing access for wealthy buyers. The shift signals a broader luxury slowdown, with scarcity strategies facing pressure as secondary markets normalize. Read more from The Wall Street Journal.
January plunge: U.S. consumer confidence plunged in January to its lowest level since 2014, signaling growing anxiety about jobs, inflation and financial prospects. The Conference Board’s index fell sharply, with short-term expectations dropping to recession-warning territory. Economists point to weak hiring and persistent cost pressures as key drivers behind the confidence collapse. Read more from Fast Company.
Fiber-optic cable: Meta has signed a multiyear agreement worth up to $6 billion to buy fiber-optic cable from Corning, accelerating the build-out of U.S. data centers to support artificial intelligence. The deal will expand Corning’s manufacturing footprint in North Carolina and boost employment, underscoring the rapid infrastructure investment behind AI growth. Read more from The Wall Street Journal.
