Today concludes what has been a busy week with two more key consumer-based data releases. Earlier this week, the Conference Board reported consumer confidence was at an 18-year high. We will get another report on sentiment today, when The University of Michigan releases their Consumer Sentiment Index, which is expected to show an increase from July. In addition, Personal Income and Spending is due out for August, and solid rises are expected for both numbers.
Overall, despite continuing rising interest rates, growing geo-political uncertainty, and rising trade war fears, U.S. consumers continue to remain focused on strong labor markets leading to rising spending and confidence which ultimately supports our core thesis for growing EPS and a rising stock market.
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