IVT - 9 Stocks I'm Buying As Consumer Spending Stalls
2024-06-22 08:15:00 ET
Summary
- The stock market breadth is very thin right now. The market is primarily being driven by a handful of big winners in the AI space.
- Consumers clearly have a very different perspective on inflation than economists do.
- Consumer spending is in the midst of a broad-based slowdown.
- I do deep dives on three stocks in my buy list to arrive at true bottom-line cash profit numbers.
Once again, I'm feeling like a mosquito in a nudist colony... where do I begin?
There's a veritable buffet of information to imbibe this week, so I won't waste time by way of introduction.
Here's the table of contents:
- Stock market breadth is thinning faster than George Costanza's hairline
- Consumer vs. economist views of inflation; cumulative vs. rate of change
- The consumer spending slowdown
- My buy list going into the last week of June
See you in the comments section!
Thinning Up Top
Sometimes stock market performance correlates pretty well with the general economy. Other times, though, the market cap-weighted stock indices are deceptive, portraying economic strength when there is actually a broad amount of weakness under the surface.
Today, the stock market is being driven by a handful of mega-cap corporations while most of the market is piddling along or falling.
The market cap-weighted S&P 500 ( SPY ) has risen 15.5% since the beginning of 2022, while the S&P 500 Equal Weight ETF ( RSP ) has risen only 1.5%....
9 Stocks I'm Buying As Consumer Spending Stalls