As the news about holiday spending is coming, we achieved a new record! Just this morning, the news reported $5.6 billion on stuff. In the evening the news reported that shoppers spent over $10 billion; 7.5% up compared to 5.4% last year and 3% to 4% expectations.
That’s great. But the question remains: how will Wall Street react to it on Monday? Remember, we are probably still in a “good news is bad news” mentality, and the investors may perceive this spending as bad news, such that the FED may keep rising interest rates because resilient customers may drive inflation up. We have to sit and wait.
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