- In today’s CEO Daily: Phil Wahba on what CEOs are saying about the mood of consumers.
- The big story: Nestlé fires CEO over romantic relationship.
- The markets: S&P 500 futures are down this morning.
- Plus: All the news and watercooler chat from Fortune.
Good morning. With fall in full swing, it seems like a good time to do a gut check on the state of the American consumer. I pored through financial results reported over the last two weeks by a variety of big retailers and found a mixed bag. Though there are pockets of optimism, it’s clear that consumers are worried. The big wild card going into the fall will be the full impact of tariffs, expected to be felt acutely in the second half of the year. Indeed, Best Buy had a strong second quarter but did not raise its full-year guidance during its late August earnings call because of the tariff uncertainty. Many companies rushed their buying in the spring before tariffs came into effect, but that can only shield them for so long. Here’s what some prominent CEOs are seeing.
