Thursday the S&P cleared 7,800 for the first time in history. Friday the government reported that Americans had stopped shopping — spending fell 0.6% in July, the worst drop in over a year, when a small gain was expected. Consumer mood fell to 51.
Both are true in the same week. Company profits are running about 50% higher than a year ago, and the people who buy from those companies just cut back hard. One of those has to bend.
This week starts answering it. Home Depot reports Tuesday, Target and Lowe’s Wednesday, Walmart Thursday — four of the biggest retailers on earth reporting to the exact customer whose spending just fell off a cliff. Inside: the six dials, last week’s calls graded in public, the level that decides everything, and what to do before Thursday morning.
For education only. Nothing here is financial advice or a recommendation to buy or sell anything. We teach you to read the market. What you do with your money is your call, and your responsibility.
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