Oh boy, hold on to your caps… It’s a hurricane of winningness today.
…“and we will win, and you will win, and we will keep on winning, and eventually you will say we can’t take all of this winning, …please Mr. Trump …and I will say, NO, we will win, and we will keep on winning”.
We begin with yet another record breaking day for the DOW, S&P 500 and Nasdaq:
But, wait… oh it gets so much better. Remember, we’re in uncharted territory folks. To showcase the economic backdrop we discover the highest level of consumer confidence in decades:
BLOOMBERG: U.S. consumer confidence unexpectedly improved in November to a fresh 17-year high, a sign Americans are growing more confident about the economy and labor market, according to figures Tuesday from the New York-based Conference Board.
The jump in the Conference Board’s measure of expectations signals consumers are growing more upbeat about the outlook for economy and job prospects. The improvement in household confidence will help underpin household spending, the biggest part of the economy, this quarter.
The share of respondents who currently see jobs as plentiful rose to a 16-year high, while the share expecting more jobs will be available six months from now was the highest in eight months. The monthly jobs report due next week is projected to show hiring continued to advance at a healthy clip in November.
In a sign that greater confidence will make for a robust holiday-shopping season, a greater share of respondents indicated they planned to step up purchases of appliances and big-ticket items, as well as more intentions of taking vacations. (read more)
“Unexpectedly” ? ROFLMAO…
Oh, but wait… Oh heck, we ain’t done piling on the winning yet. Not even close.
Remember, we knew the first reports from Brick and Mortar holiday sales were going to come out today…. Remember x 2 the naysayers of the record-breaking sales from last week said the massive sales gains [ +17.9% ] would ‘likely’ be offset by diminished or flat brick and mortar store sales. Remember that?
Well, we’ve got the first analysis from the National Retail Federation…. And yes, this becomes the first KPI (Key Performance Indictor) for data that will assemble about a week from now… You ready?
WASHINGTON – From Thanksgiving Day through Cyber Monday, more than 174 million Americans shopped in stores and online during the just-concluded holiday weekend, beating the 164 million estimated shoppers from an earlier survey by the National Retail Federation and Prosper Insights & Analytics.
Average spending per person over the five-day period was $335.47, with $250.78 — 75 percent — specifically going toward gifts. The biggest spenders were older Millennials (25-34 years old) at $419.52.
Retailers’ technology investments paid off with consumers seamlessly shopping on all platforms through the long weekend. The survey found that over 64 million shopped both online and in stores. In addition, over 58 million shopped only online, and over 51 million shopped only in stores. The multichannel shopper spent $82 more on average than the online-only shopper, and $49 more on average than those shoppers who only shopped in stores.
The most popular day for in-store shopping was Black Friday, cited by 77 million consumers, followed by Small Business Saturday with 55 million consumers. The top two days that consumers shopped online were Cyber Monday with more than 81 million and Black Friday with more than 66 million. In addition, 63 percent of smartphone owners used their mobile devices to make holiday decisions, and 29 percent used their phones to make actual purchases. (read more)
So we’re seeing 18% growth in retail sales on-line. AND 7 to 8% growth (beyond projections) in foot traffic for brick and mortar retail store shopping… AND remember, retail sales account for two-thirds of all GDP growth…. AND remember the NY Fed has already increased the 4th quarter growth forecasts upward, TWICE… and remember, there’s still a lot of economic activity taking place…
…”Hold on to your economic britches peeps – throw dem ju-ju bones out the windows – grab hold of the young-un’s, squeeze em tight and introduce them to their first opportunity to see capitalism unchained; we are in uncharted MAGA territory now. Q4 GDP growth will be well beyond
3.2%3.8%… Well Beyond.”…
….. Sing it with me: