Consumers don't share market optimism!
NEW YORK - August 17, 2009 - The market wants to grow again. We've seen that in recent trading patterns. We've also seen what happens when investor enthusiasm outpaces consumer confidence.
Friday's drop in the markets may only have been a warning, precipitated by the weak July retail sales report and the drop in the Reuters/University of Michigan consumer sentiment index.
This week, retailers will provide the reality check. Already we are seeing mixed messages, with Wal-Mart looking strong when it reported second-quarter earnings last week while more upscale retailers like Nordstrom and Abercrombie & Fitch continued to suffer.
We'll see whether Wal-Mart is an anomaly when Target and Sears post results this week.
Home Depot's results are coming too, and those may show that all this talk about a housing market rebound needs to be tempered.
Friday's drop in the markets may only have been a warning, precipitated by the weak July retail sales report and the drop in the Reuters/University of Michigan consumer sentiment index.
This week, retailers will provide the reality check. Already we are seeing mixed messages, with Wal-Mart looking strong when it reported second-quarter earnings last week while more upscale retailers like Nordstrom and Abercrombie & Fitch continued to suffer.
We'll see whether Wal-Mart is an anomaly when Target and Sears post results this week.
Home Depot's results are coming too, and those may show that all this talk about a housing market rebound needs to be tempered.
