Published On Sep 24, 2024, 11:10 AM
Consumer confidence in the U.S. has experienced its steepest decline in over three years, signaling growing concerns among consumers about the economy, particularly regarding inflation and rising interest rates. This decline is reflected in lower spending expectations, which can impact economic growth as consumer spending accounts for a significant portion of the economy.
Negative
Given the significant drop in consumer confidence, we may see a contraction in consumer spending in the near future. This could negatively impact companies that heavily depend on consumer expenditures.
Negative
Retail ETFs, particularly those focusing on consumer discretionary, are likely to be adversely affected by decreased consumer spending. The XLY ETF, which tracks the Consumer Discretionary sector, may experience downward pressure.
Oct 11, 2024, 1:58 PM
Prices in segments of the U.S. economy, like some imported goods, consumer electronics and gasoline, have deflated since September 2023.
American Social owner Rick Mijares says thousands are without power and many residents remain displaced in the aftermath of Hurrica
Oct 10, 2024, 4:06 PM
Investors are looking to the latest reading on CPI consumer inflation to set expectations for the path of interest rates.