Rolling Recession Won’t Stop All-Time Stock Market Highs
Target is one of the outliers among retailers voicing caution about earnings. Total holiday sales are expected to rise 4%.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
If you read any headline about US consumers right now, it’s invariably about cratering consumer confidence or anxiety heading into the holiday season. The reality is US consumption is holding up pretty well. And that augurs well for the bull market in US stocks.
You just knew the withheld economic data flowing in would stir the market because the US economy was at its most vulnerable when the government shut down.