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UBS expects two 25-basis-point Fed rate cuts in 2024, starting in September, in-line with Fed funds futures markets pricing in 51 bps of cuts this year; April US retail sales weaker than expected, supporting view for soft landing

UBS: India set to become world's third-largest consumer market by 2026, outpacing Germany by 2024 and Japan by 2026, driven by large population and rising middle class; India's household consumption rose to US$2.1T in 2023, almost double from past decade

UBS: US economy could see 'higher for longer' economic growth, inflation and interest rates, which could begin to decline by end-2024; analyst warns of possible 'overheating' risk requiring elevated borrowing costs to control wider economy

UBS expects about 45,000 US retail stores to close in next five years due to higher operational costs, shift toward e-commerce; however, retail unlikely to reach post-store era anytime soon, and those best positioned to gain are investing in omnichannel

UBS expects profit momentum 'collapse' for Big Six tech firms Apple, Amazon, Microsoft, Alphabet, Nvidia, Meta over next few quarters; analyst downgrades their ratings, projects their EPS growth to dip to 15.5% by Q1 2025, from estimated 42.2% for Q1 2024

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