fromFortune
3 days agoWall Street is pricing no 'material drop' in market thanks to consumers, says Fed's Hammack-problem is, shoppers are increasingly shaky | Fortune
Since the end of the pandemic, consumers have proved to be the backbone for the American economy-much to the surprise of some of Wall Street's biggest names. This underlying strength has pushed the U.S. stock market to record highs this year, with analysts pricing in continued growth of the S&P 500. But the ever-reliable consumer is beginning to look shaky, courtesy of an unpleasant mix of a stagnating jobs market and sticky inflation.
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