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But we saved everything 🙂.
Gareth Soloway highlights that US retail sales for September saw an increase of 0.2%, which is below the anticipated 0.3% rise.
He emphasizes that 80% of consumers are either struggling or not spending, relying on the momentum of the stock market to continue their spending patterns. Soloway also suggests that without the influence of AI, the US economy might be facing a recession.
Soloway's perspective on subdued consumer spending aligns with his previous caution regarding growing market exuberance amid bullish sentiment. Additionally, fluctuations in economic indicators—like the unexpectedly strong Empire State Manufacturing Index—continue to shape expectations for the broader outlook and future policy moves.