U.S. Consumers' Status
Dick’s Sporting Goods and Macy’s experienced significant declines in their stock prices on Tuesday, marked by red down pointing triangles, as both retailers reported weaker-than-expected quarterly earnings and provided cautious forecasts for the remainder of the year.
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Spending Doesn't Cool Down
Despite the economic uncertainty, Americans are continuing to spend, challenging the expectations of many business leaders about consumer behavior in slower economic times.
America's Wallet
Despite inflation, Americans have more money in the bank than in 2019 and only slightly more credit card debt relative to income. However, they don't necessarily feel better off than they did before the pandemic, inflation, and rising interest rates.
Slowing Hiring
The period of intense hiring and record-low unemployment, which allowed millions of workers to find new opportunities, increase their wages, and reshape their careers, is giving way to a more typical market.
Tenant Evictions Remain High in Many U.S. Cities
Tenant evictions remain at elevated levels in several U.S. cities, showing little sign of returning to pre-pandemic norms.