Quoted By:
>Prudent investors pay attention to retail sales. The reason is that the U.S. economy is 70% consumer based. Retail sales are a good indication of how the consumer is doing. Here are details of the just released data:
>Headline retail sales came at 0.1% vs. 0.3% consensus.
>Retail sales ex-auto came at -0.1% vs. 0.2% consensus.
>The momo crowd is oblivious and continues to aggressively buy AI stocks.
>If it was not for the obliviousness of the momo crowd, the stock market would have dropped significantly on the weak retail sales data. The reason is that the momo crowd is taking for granted that there will be no landing. Even smart analysts are lock, stock, and barrel investing based on a soft landing. Retail sales are like a canary in a coal mine.