Will Shoppers Bring Holiday Cheer for Markets?
We think the holiday shopping season may bring some holiday cheer for the markets this year. The U.S. consumer is in good shape, the season got off to a strong start, and the stock market has performed well. Even after last week’s 3.6% loss, led down by the energy sector as oil’s slide continued, the S&P 500 has returned 10.5% year to date. We expect holiday shoppers, bolstered by lower energy prices, to help support potential stock market gains.