Unbelievable. Earnings reports this week show U.S. consumer stocks are doing pretty awesome. We had beats this week from consumer sensitive/cyclical stocks like: Amazon, Coca-Cola, Dunkin Brands, Domino’s Pizza, and Dr Pepper Snapple Group. Restaurant stocks are also getting some nice earnings growth.
Boris Schlossberg of BK Asset Management said, “We are finally starting to see the U.S. consumer spend. Generally the reaction of spending goes restaurants, food, cars, and housing. As we see the progression move forward, that would be the validation of a strong consumer and the growth of the U.S. economy.” That's pretty awesome. So BK Asset Management is going to watch the consumption progression to gauge the health of the U.S. economy.
The chart of SPY looks like an Ascending Triangle pattern has formed. That's crazy that this pattern would form going into the worst 6 months of the year but so far the earnings season for consumer stocks are coming in pretty good and so here we are.
but not all are giving a rosier future growth picture, only one at finger tips , just deleted the other email list with earnings
Amazon.com Inc. (AMZN) has reported -0.12 EPS and 22,717 revenue for FQ1 2015
Amazon.com Inc. (AMZN) has reported -0.12 EPS and 22,717 revenue for FQ1 2015