Pandemic Shadows Lift As US Consumer Confidence Soars To 2-Year High
Portfolio Pulse from AJ Fabino
U.S. consumer confidence has reached its highest level since July 2021, driven by a strong job market and decreasing inflation. The Consumer Confidence Index rose to 117 in July, up from 110.1 in June. However, consumers' belief in the likelihood of a recession within the next 12 months increased slightly from 69.9% in June to 70.6%. The Consumer Discretionary Select Sector SPDR Fund (NYSE:XLY) and the Health Care Select Sector SPDR Fund (NYSE:XLV) could benefit from consumers’ indicated spending intentions.
July 25, 2023 | 3:50 pm
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POSITIVE IMPACT
The Health Care Select Sector SPDR Fund (NYSE:XLV) could benefit from the rise in consumer confidence and indicated spending intentions.
The rise in consumer confidence indicates a potential increase in consumer spending, which could positively impact the Health Care Select Sector SPDR Fund (XLV).
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The Consumer Discretionary Select Sector SPDR Fund (NYSE:XLY) could benefit from the rise in consumer confidence and indicated spending intentions.
The rise in consumer confidence indicates a potential increase in consumer spending, which could positively impact the Consumer Discretionary Select Sector SPDR Fund (XLY).
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80