2020 Spending Still Boosting Current Economy Despite Lower Consumer Confidence
Schwab Network · Schwab Network
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Show Notes
Phillip Argue thinks the internals of the market are saying risk-on despite some manufacturing, housing, and consumer confidence looking “pretty bad.” He thinks 4Q is going to be “a much better backdrop” despite September’s historical volatility. He thinks a small pullback could happen in the last two weeks of the month but then sees upside from there. Phillip also notes that while a lot of attention is on spending on data centers and AI, the consumer remains 70% of the economy and needs to be factored in.
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