Goldman Sachs The Markets
Consumer stocks: Finding the winners
May 31, 2024
Consumer sector specialist Scott Feiler discusses the state of the US consumer market, delving into rising rates' impact on spending, differences in income demographics, growth in travel and services sectors, revival of apparel trends, influence of labor market on lower-end consumers, earnings season expectations, investor behavior in consumer stocks, and the significance of top-line performance for stock market rewards.
07:59
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Quick takeaways
- Job market remains robust with more job openings than seekers, providing optimism for consumer stability.
- Investors prefer high-income-exposed names in the travel sector, showcasing selective investing based on consumer trends.
Deep dives
Consumer Sector Performance Overview
The recent retail earnings season highlighted the consumer sector's performance, indicating a shift in consumer behavior. While there are concerns about a slow start in the first quarter, the job market remains robust with more job openings than seekers, providing optimism for consumer stability. Despite some modest slowdowns, the consumer space shows a mixed picture with significant variations across income demographics, showcasing resilience in certain areas.
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