Reflections on the Consumer Correction: On Goes August

OOO auto-responses, Italy-grams (yours truly’s included…), and consumer stocks all showed yet another uptick in early August on the back of a strong July. However, the market’s attitude towards Powell’s more recent hawkish remarks in Jackson Hole were slightly more reminiscent of middle school back-to-school (read: kicking and screaming). With Labor Day marking the beginning of the final market marathon of the year, the month ahead will be critical in ascertaining whether the recent rally has additional room to run.

Note: Data reflective of July 31, 2022. This does not constitute investment advice.

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