Harley-Davidson once launched its own line of branded perfumes in the 1990s—but it failed to gain traction.
The company introduced men’s and women’s fragrances as part of a broader lifestyle branding push, hoping to tap into the iconic biker appeal. Despite the bold move, the scent line never resonated with consumers and was eventually discontinued.
It’s a reminder that even the strongest brands can miss the mark when they venture too far from their core identity.
Market Wrap
Retail Cracks, Risks Stack
Retail Sales Drop:
May retail sales declined by 0.9%, the steepest monthly drop of the year, with sharp falls in autos, gas, and building materials, signaling weakening consumer spending—which is a major driver of economic growth—raising concerns about broader economic momentum.
Industrial Production Softens:
U.S. industrial production slipped 0.2% in May, coming in below expectations, while manufacturing output edged up only 0.1%, reinforcing worries about a slowdown in factory activity.
Start of June FOMC Meeting:
The two-day FOMC meeting began on June 17, with the Fed widely expected to keep interest rates in the 4.25%–4.50% range. All eyes are on the economic projections (“dot plot”) and Chair Powell’s remarks tomorrow, as these could shift expectations for future rate cuts or hikes.
Trump Cuts G7 Summit Short Due to Middle East Threats:
President Trump left the G7 early and urged residents of Tehran to evacuate, citing escalating Israel–Iran conflict. His direct intervention raised geopolitical risk, contributing to a sharp spike in oil prices (+4% range) and triggering a flight to safety, which pressured stocks and boosted the VIX.
U.S. Military Deployment to Middle East:
Reuters reported that U.S. fighter jets were being deployed to the region as tensions intensified—adding further strain to global risk sentiment and contributing to the decline in equity markets.
U.S. Senate Clears Stablecoin Regulation:
A landmark bill on stablecoin oversight passed the Senate in Washington yesterday. While its direct market impact is modest today, it adds clarity to crypto regulation and sets the stage for sector moves—potentially affecting crypto-adjacent stocks and fintech firms.