Once again consumer confidence continues to slide as people seemed more confused than pessimistic, although, one might argue ‘what’s the difference?’
The bad stuff is getting better but the good stuff is getting worse. The most telling aspect of the report is the decline in future expectations. There was a time that number was significantly better than current conditions. That was the core of American DNA, after all.
Now it’s just about anxiety and a dollop of fear that could easily morph into panic manifested in markets, and jobs, and even how we elect in November.
It’s all about a state of limbo that’s permeated all facets of our lives, from the stock market, to the economy, to how we feel about the prospects of the nation.
Earnings after the Close
- Apple (AAPL) - the company is a proxy for technology, consumer spending, China, and at the center of debate, on trade- should they be forced to bring manufacturing back to the United States.
- Twitter (TWTR) - in the grand scheme means little to the broad market, but it is a household name. The challenge is growth, or lack of growth, and monetizing the eyeballs it already has. The stock is a major loser and I think they need massive management change. Because expectations are so low, it could post earnings that impress the experts and help the stock.
- Chipotle Mexican Grill (CMG) - was an unstoppable juggernaut, then people started getting sick. The key reason for loving the company was fresh locally growth vegetables which has become the main reason to avoid the restaurant. The stock rallied 1440% from January 2009 to its peak in July 2015, but it is down 40% since then.
Other key earnings releases after the close including Panera Bread, E-Bay, Robert Half International and Buffalo Wild Wings.
It is okay for the market to move sideways, but it’s unnerving, too.