Bloomberg Intelligence
US Retail Sales, TSMC Earnings
Oct 17, 2024
Mari Shor from Columbia Threadneedle Investments discusses surprising U.S. retail sales growth and consumer resilience. Mandeep Singh highlights TSMC's impact on AI and the tech sector. David Kudla shares an optimistic market outlook, while Paul Gulberg analyzes Blackstone's success in alternative assets. Josh Zegen and Abigail Doolittle explore commercial real estate recovery post-crisis. Finally, James Thornton reveals trends in corporate travel, emphasizing sustainability and the shift toward immersive travel experiences.
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Quick takeaways
- Recent retail sales growth indicates consumer resilience amidst inflation, with spending shifting towards necessities over discretionary items like electronics.
- Retailers are adopting cautious strategies, focusing on disciplined promotions and inventory management in anticipation of changing consumer behavior during the holiday season.
Deep dives
Strong Retail Sales Indicate Consumer Resilience
Recent retail sales data has shown growth exceeding expectations, suggesting that consumers are navigating the current economic challenges with resilience. With a growth of 0.4 percent against a forecasted 0.3 percent, the statistics highlight a broadening confidence among consumers, bolstered by a strong jobs market. Significant areas of growth have been identified in food, health and wellness, and clothing, while discretionary spending on larger ticket items like autos and electronics has decreased. This trend reflects a shift in consumer behavior, focusing on necessities rather than luxuries in light of ongoing inflation concerns.
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