- In a strong quarter for earnings, the big consumer stocks have shone even brighter, thanks to results from McDonald's we're noticing about people making higher wages and as wages go up, they're spending almost all of that increase," said Brian Mulberry, client portfolio manager at Zacks Investment Management."That would reflect for us a pretty high level of confidence from the consumer.
While most companies flagged the resilience of consumer demand, some analysts also said expectations were low heading into the third quarter as the side effects of still-high inflation lingered. "I don't think consumer spending drove these beats. I think it was more pricing and a resilient consumer, ones that were able to take this rate at a time when discretionary income is under pressure," Wedbush analyst Gerald Pascarelli said.We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other.
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