Learning From S&P 500 Results for YTD Period Through 7/19/23

Jul 20, 2023 | Bubble Monitor, No Bull Economics

Weekly Dashboards

This week’s posts tell a story about the struggles of middle-income consumers which contrasts with the free spending of wealthier consumers with a travel bug. The question for the markets is whether spending support from higher-income consumers can outweigh the malaise of middle America and judging by the performance over the last week, the jury is still out.

Consumer Stock Monitor

Commentary

Investors thrilled about the prospect of a soft landing and an eventual cessation of rate hikes pushed stocks through the roof so far through the summer of 2023. Imagine what these bullish results would have looked like if bank stocks had not been roiled by such aggressive rate hikes.

  • Is it possible that AI trading algorithms pushed the AI related stocks (semiconductors, software & Meta) into the stratosphere? Is there a conflict of interest?
  • Notably, a rebound in the travel bug this summer helped boost the cruise, hotel and airline stocks (Delta 2Q23).
YTD S&P 500 Stock Performance

Weekly Publications

Public Posts

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Part 2: Using Financial Forecasts in Valuations

Do we Count People Collecting Disability as Unemployed?

Premium Posts

Delta Air Lines 2Q23: Wealthy Ramp-Up Spending on Travel

Pepsi Co. 2Q23: Consumers are Shopping for Deals

Conagra Brands, Inc. Fiscal 4Q23: Consumers are Hunkering Down

BlackRock, Inc. 2Q23: Countries Spending All They Have on Net Zero

Yum! Brands Global: Plans to Open Another 100k Restaurants

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