State of the Tech Trade 7/11/23
Halftime Report
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The Effect of Higher Rates on Consumers
The consumer discretionary sector is expected to report 27% earnings growth year over year. We're at 83.5% labor participation rate for prime age workers, a high that we haven't seen since 2000. When nobody is out of work and everyone is employed and home prices are stabilizing it's very hard to get the consumer to slow down.
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