🚀 Shopify partners with Target

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Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. Target is partnering with Shopify to bring trendy new brands to its website. Starting yesterday, Shopify-connected companies can apply to join Target Plus, Target’s third-party marketplace. Target Plus, which now features over 1,200 sellers and more than 2 million products, including popular items like the UnBrush and brands like Crocs and Ray-Ban, has doubled its seller and product count in the past year. Third-party marketplaces are popular in retail due to higher profits, as sellers handle inventory and financial risks.

2. On Friday, banking regulators identified weaknesses in the resolution plans, or "living wills," of Citigroup, JPMorgan Chase, Goldman Sachs, and Bank of America. These plans, required every two years, detail how banks will unwind operations in case of failure. The Federal Reserve and the FDIC found issues in how these banks planned to manage their extensive derivatives portfolios, with Citigroup failing a test that required using different inputs to unwind contracts. Introduced post-2008 financial crisis, living wills are crucial for regulatory compliance, and the banks must address these weaknesses by their next submission in 2025.

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4. Headlines

   1. EU has publically accused Apple of breaching the Digital Markets Act, a significant step towards legal action after they announced an investigation in March.

   2. Investors are starting to cycle out of tech stocks (specifically AI and semiconductor stocks).

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