There's more evidence that US consumers are weathering the economic storm and continuing to spend. Figures show retail sales rose by 0.7% in July which is more than expected.
It's welcome news for retailers who are struggling with high prices and lower margins, and that’s going to force the Fed to keep the prospect of more rate hikes on the table.
May 2024
Rate Rise Impact On Markets… And The Retail Resurgence 5/29/24
<p>Rates continue their climb higher, and besides a powerhouse move in Nvidia, stocks have been feeling the pain. Will the rising rate environment continue to be a headwind for companies? Plus… Retailers rising after results. Dicks Sporting Goods, Chewy, and Abercrombie & Fitch a ... Show More
43m 39s
Feb 2023
Retailers are stocking more stuff, a good sign for the economy
The most recent issue of the Logistics Managers Index, an industry gauge of retail inventories, showed that sellers expanded their stocks in January. That suggests that consumer demand is remaining strong and that supply chains are sorting themselves out, all good signs for the e ... Show More
7m 56s