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International Business Times UK
International Business Times UK
World
Jim Manzon

Stitch Fix and AMC Stock Rally Hides a Brutal Reality for Shoppers as Consumer Debt Hits Record Highs

Stitch Fix AMC United States AMC Entertainment
US credit card delinquencies have reached their highest level since 2011 as consumers lean harder on borrowed money (Credit: Avery Evans/Unsplash)

Stitch Fix and AMC Entertainment surged on 8 June as retreating Treasury yields and easing geopolitical tensions gave consumer discretionary stocks a temporary lift, but the rally papered over a deepening consumer debt crisis that has pushed US household balances to an all-time record of $18.8 trillion (£14.08 trillion).

Stitch Fix (NASDAQ: SFIX) jumped 5.4% while AMC Entertainment (NYSE: AMC) climbed 3.9% in the afternoon session. The gains came after Iran declared its first wave of strikes complete and oil prices pulled back from overnight highs, easing fears that rising energy costs would further squeeze household budgets at the breaking point.

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