One of the most important things investors need to be aware of in the market is economic data, especially when the S&P 500 trades near or at its all-time highs, such as today. This is because the data will show investors what the charts won’t and that is whether the underlying economy can actually support the current valuations in the broader financial markets.
Today, one of the most important pieces of fat for investors to consider is giving investors something to think about. While consumer discretionary items were the ones that led the way in retail sales data for the past quarter, things are starting to shift now that the holiday season is over. Consumers return to their planned spending budgets, which show a lot more consumer staples spending, which is defensive-focused and not a good sign of confidence.
