WSJ's Take On the Week
Still Have Inflation Concerns? Spending Data May Offer Insight
Dec 17, 2023
This podcast explores the impact of high grocery prices and rising costs on consumer spending. It also discusses the business moves of Amazon and their implications for companies like Carmax and FedEx, along with concerns about inflation and wage pressures. Additionally, the podcast examines the relationship between consumer spending, the labor market, and economic growth, as well as the role of productivity and technology in driving the economy. FedEx's relationship with Amazon and upcoming earnings calls for FedEx and Carmax are also mentioned.
21:04
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Quick takeaways
- Consumer spending may be getting maxed out by high grocery prices and rising costs for medical care and transportation, potentially impacting the economy.
- Amazon's entry into the car sales and delivery sectors poses a threat to competitors like Carmax and FedEx, leading to stock value drops and concerns about Amazon's disruptive presence in various industries.
Deep dives
Fed's Meeting and Stock Market Performance
The Federal Reserve's meeting last week signaled the end of the rate-hiking cycle, leading to a seventh consecutive week of stock price increases, with the Dow Jones Industrial Average reaching a new high of 37,000. The upcoming release of the Personal Consumption Expenditures Report (PCE) will provide insight into inflation trends, which, if in line with previous reports, could further boost stocks and risk assets like cryptocurrencies and high-yield bonds. However, concerns arise if inflation does not decrease, coupled with reports showing falling disposable income and rising debt.
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