Are consumers still spending?

Scott Krisiloff and his team at Avondale Asset Management read dozens of transcripts from earnings calls in the US in order to get a sense for what’s happening in the ‘real economy’. This week, the message has been that despite problems in resources and European banks, the US consumer is holding up well. “Those of us that are on Wall Street can sometimes be overwhelmed by the problems that we see on the horizon. And I think, from time to time, it’s important to step back, take off your Wall Street glasses, and put on industrial America glasses. And I think things don’t look as bad when you look... with that lens.” said Loews Corporation CEO, Jim Tisch. CVS hasn’t seen many shifts in consumer behavior. “Overall I’d say things are holding fairly steady. We certainly have seen the consumer - I wouldn’t say any change from what we were seeing in the fourth quarter.” said CVS president Helena Foulkes. See the full collection of comments: (VIEW LINK)


2 topics

Livewire News brings you a wide range of financial insights with a focus on Global Macro, Fixed Income, Currencies and Commodities.

Expertise

No areas of expertise

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.