Consumers In Great Shape Despite, Or Because Of, Higher Interest Rates: 'Those With Cash Are Rewarded'
Portfolio Pulse from Neil Dennis
Despite higher interest rates, consumers are in good shape, benefiting savers and those with assets like stocks and real estate. Higher net worth and interest income suggest economic strength, despite fears of a recession and a market correction in July 2023. The SPDR S&P 500 ETF (SPY) experienced a near 10% correction but recovered as markets rallied into 2024. The resilience of the U.S. consumer is highlighted amidst ongoing high interest rates.
March 22, 2024 | 7:47 pm
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SPY experienced a near 10% correction in July 2023 due to fears of a consumer slowdown but recovered as markets rallied into 2024, indicating resilience and potential growth.
The SPDR S&P 500 ETF (SPY) is directly impacted by the overall health of the U.S. economy and consumer spending. The recovery from a near 10% correction and subsequent rally into 2024 suggests a positive outlook for SPY, reflecting the resilience of the U.S. consumer and the broader market.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90