Motley Fool Money September Retail, Big Banks, Consumer Tech Events
Oct 15, 2021
September retail sales exceed expectations, hinting at a potential holiday shopping surge. The discussion takes a twist with Google’s Pixel phone launch and its prospects. There's buzz around a retailer potentially dropping tobacco sales, alongside a review of Domino's and Virgin Galactic's market hurdles. Plus, new e-commerce partnerships between big tech players are analyzed. Expect record-breaking Halloween spending, fueled by consumer trends, and insights into promising stocks like Zillow and Marvell Technology make the cut.
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Surprising Retail Sales Growth
- September retail sales grew 0.7%, exceeding economist predictions by nearly a full percentage point.
- This strong consumption, outpacing inflation, suggests early holiday shopping due to supply chain issues.
Factors Driving Retail Growth
- Early holiday shopping and buy now, pay later options are driving current retail sales growth.
- Resolving supply chain issues is key for sustained growth, as noted by Goldman Sachs' adjusted GDP forecast.
Big Bank Earnings Overview
- Bank of America's Q3 results stood out among big banks, with strong revenue growth, deposits, and digital platform performance.
- Jamie Dimon, CEO of JPMorgan Chase, believes supply chain issues are temporary and expects a continued strong environment for investment banking.