Is War Good for Markets, Consumer Spending Data, CAVA, Home Depot & More
With things heating up in the Ukraine, one would expect the markets to tank. However, a look at stock performance during times of war post-1926 provides a useful perspective.
September’s PCE (personal consumption expenditures) increased +5.3% y/y (including services) while September’s Retail Sales (excluding services) increased just +0.2% y/y as consumers continue a long-term trend of substituting experiences for goods.
The monthly commodity dashboard for October reveals an uptick in prices.
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