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Consumerspending

All articles tagged with #consumerspending

finance1 year ago

Stocks Dip as Inflation Concerns Persist

Stocks ended lower on Wednesday as investors reacted to persistent inflation data and economic indicators ahead of the Thanksgiving holiday. The Dow, S&P 500, and Nasdaq all saw declines, with the Nasdaq leading the losses. Despite a slight increase in the 10-year Treasury yield, the market remained relatively stable, reflecting mixed reactions to the PCE Price Index report. The Federal Reserve's cautious approach to interest rate cuts continues amid solid consumer spending and a resilient labor market, though inflation remains a concern.

via TheStreet|
#consumerspending#federalreserve#finance
economy1 year ago

Thanksgiving Costs: Mixed Reports on Price Trends for 2024

Thanksgiving hosting costs have risen by 19% this year, with the average expenditure reaching $431 for food, drinks, and decor, according to a LendingTree survey. This increase is causing financial strain for many, with 36% of hosts feeling the pinch and 34% planning to use credit cards to cover expenses. Retailers like Walmart, Albertsons, and Target are offering promotions to help offset costs, such as Walmart's Inflation-Free Thanksgiving Meal and Target's discounted turkeys. Despite these efforts, 14% of hosts already regret their decision to host.

via Benzinga|
#consumerspending#economy#financialstrain
business1 year ago

Target Faces Holiday Hurdles as Earnings Miss Rocks Stock

Target has issued a warning about a weak holiday shopping season, forecasting flat sales and lowering its profit outlook, which has caused its shares to drop significantly. The company is struggling due to its focus on discretionary goods, which are less in demand as consumers prioritize essentials amid higher prices. In contrast, Walmart is experiencing growth, driven by increased sales from upper-income households and a strong performance in grocery sales.

via CNN|
#business#consumerspending#holidayshopping
business1 year ago

Home Depot's Earnings Beat Expectations Amid Cautious Consumer Spending

Home Depot reported a 6% year-over-year increase in quarterly sales, driven by a new acquisition and demand for hurricane-related repairs and home improvement supplies. The company raised its full-year sales outlook to a 4% increase, factoring in the acquisition of SRS Distribution. Despite the positive results, Home Depot noted that consumers remain cautious about spending due to high interest rates and economic uncertainty, leading to deferred home projects. The company's stock has risen 18% this year, and it continues to focus on professional customers and new store openings to drive growth.

via CNBC|
#business#consumerspending#homedepot
business1 year ago

Singles' Day Surpasses Expectations Amid Economic Challenges

China's Singles' Day shopping festival exceeded low expectations, with consumers spending more than anticipated despite a generally weak retail environment. Major e-commerce platforms like Alibaba and JD.com reported significant growth in active buyers and sales, with some categories like outdoor goods and "blind box" toys seeing notable increases. The event benefited from recent government stimulus measures, and while consumer sentiment has improved, the overall market remains cautious. Analysts predict a potential rebound in consumer confidence in 2025 with further fiscal support.

via CNBC|
#business#china#consumerspending
finance1 year ago

Stock Market Plunges: Dow Sinks, Yields Rise, and Truth Social's Loss

The US stock market opened lower as the Dow Jones Industrial Average fell nearly 400 points and bond yields rose to 2024 highs, signaling concerns about interest rate cuts. Healthcare insurer stocks tumbled after US regulators failed to boost payments for private Medicare plans, with Humana and CVS shares dropping. Tesla stock stumbled after delivering fewer cars than expected in the first quarter. Rising gas prices are impacting consumer spending, with oil hitting a five-month high and gas prices up $0.16 per gallon from a month ago. Additionally, new data from the Bureau of Labor Statistics showed steady job openings in February while hiring picked up slightly.

via Yahoo Finance Australia|
#bondyields#consumerspending#finance
financeinvestment2 years ago

"Top Growth Stock to Aggressively Buy in 2024 After a 61% Drop"

Parkev Tatevosian, a contributor for The Motley Fool, recommends a particular growth stock that has seen a significant price drop of 61% as a strong buy for long-term investors in 2024. This stock is poised to benefit from increased consumer spending outside the home. The specific stock is not named in the excerpt, but The Motley Fool has positions in and recommends Six Flags Entertainment, which may suggest the sector or type of company being referred to. Tatevosian has no position in the stocks mentioned and may earn compensation for promoting The Motley Fool's services.

via The Motley Fool|
##consumerspending#financeinvestment
business-and-finance2 years ago

"JD Sports Issues Profit Warning Amid Sales Slump and Consumer Spending Concerns"

JD Sports Fashion, a UK-based athletic apparel retailer, saw its shares drop by 22% after cutting its full-year profit guidance due to weaker-than-expected sales in a key trading period. The company cited mild weather and cautious consumer spending for the downturn, which follows a similar profit warning from Nike. Despite the slump, JD Sports is continuing with its expansion plans, having opened 200 new stores this year. Other sportswear brands like Puma and Adidas also experienced a decline in share prices, while clothing retailer Next reported an increase in guidance, indicating a mixed picture for the UK retail sector.

via MarketWatch|
##business-and-finance#consumerspending