Consumers Binge Despite Higher Interest Rates, And The Fed Watches Them Nervously

Retail sales in March increased by 0.7% seasonally adjusted, with a year-over-year jump of 4.0%. Total retail sales jumped 10.1% in March from February to $712 billion. Ecommerce, food services, and general merchandise retailers were the biggest drivers of growth.

U.S. Retail Sales Rack Up Solid March Numbers

U.S. Retail sales smashed expectations in March, with total sales up 0.7% and ex-autos up 1.1%. Non-store retailers and bars and restaurants saw the biggest year/year increase. Five out of the 10 consumer-related industries have turned positive. The latest retail sales data reflects strong consumer buying.

U.S. Household Spending Holds Firm

Retail sales beat all expectations. US retail sales rose a very robust 0.7% month-on-month in March versus 0.4% expected. With jobs, inflation, and activity all beating expectations, the Federal Reserve is in no position to cut interest rates. We expect spending and inflation to slow, but the Fed won't be contemplating rate cuts.

Equity Market Outlook Q2 2024: Extreme Distortions Everywhere - A Moment For Active Management

Home Market Outlook Today's Equity Market Outlook Q2 2024: Extreme Distortions Everywhere - A Moment For Active Management. Neuberger Berman: U.S. Economic growth has remained resilient and leads the world. Global Industrial Activity Is Picking Up While Early Signs Of Moderating Growth in Europe. We believe extreme market consensus presents a moment for active management.

Weekly Report: what happened at PSCC last week (0408-0412)?

Warehouse Clubs Operator PriceSmart Soars on Strong Q2, Rewards Shareholders With Special Dividend

PriceSmart, Inc. Reported second-quarter FY24 results. Revenue increased 13.1% Y/Y to $1.29 billion. The company distributed excess cash to stockholders through a special dividend. PriceSmart plans to open its ninth warehouse club in Costa Rica in 2025.

WD-40's Mixed Bag Of Q2: Revenue Miss, Strategic Moves, Raised EPS Outlook & More

WD-40 Company reported second-quarter FY24 revenue of $139.1 million, missing the consensus of $140.5 million. Revenue was up 7% Y/Y on growth across all trade blocs. The company raised its FY24 outlook for net sales to $570 million.

Weekly Report: what happened at PSCC last week (0401-0405)?

Weekly Report: what happened at PSCC last week (0325-0329)?

Resurging Corporate Profits Show Inflationary Pressures Are Reheating After Lull: Corporate Profits By Major Industry

Home Market Outlook Economy Analysis Resurging Corporate Profits Show Inflationary Pressures Are Reheating After Lull. Corporate pre-tax profits in all non-financial domestic industries combined jumped by 5.6% in Q4 from Q3. The spike in profitability in inflationary times is a sign that companies hiked prices much faster than their costs.

Weekly Report: what happened at PSCC last week (0318-0322)?

Invesco SmallCap Consumer Staples ETF declares quarterly distribution of $0.1311

Watching For A Weakening Consumer

The consumer accounts for nearly 70% of U.S. GDP. Since September of last year the overall level of retail sales has stalled. Credit card debt has increased significantly since the pandemic ended. Charge-offs and delinquency in credit card debt is reaching levels seen at the start of prior recessions. The elevated charge-off rate may be a canary in the coal mine.

Weekly Report: what happened at PSCC last week (0311-0315)?

Small cap Energy, Financials are the most inexpensive vs. history; Tech, Industrials most expensive - BofA

Small cap Energy, Financials are the most inexpensive vs. History; Tech, Industrials most expensive - BofA report. Growth continues to look historically cheap compared to value within both small- and mid-caps. Energy and financials are most inexpensive compared to history.

Weekly Report: what happened at PSCC last week (0304-0308)?

Weekly Report: what happened at PSCC last week (0226-0301)?

Looking Ahead To U.S. Economic Data For February

Home Market Outlook Economy Analysis Looking Ahead To U.S. Economic Data For February. Recent economic data has raised doubts about the timing for the arrival of a dovish policy bias. The January consumer inflation report was hotter than expected, pushing expectations for a rate cut further ahead. Retail sales are projected to recover in February.

Weekly Report: what happened at PSCC last week (0219-0223)?

Walmart And Total Ecommerce Sales In The U.S.