One such risk is sentiment among American consumers, who are the primary engine of the economy. While retail spending rose in June, consumers are signalingabout the overall state of the economy and their finances, according to the Forbes Advisor-Ipsos U.S. Consumer Confidence Weekly Tracker.
“Of all the months to date, August is really going to be that watershed month where we have enough information between Covid,and economic data that will give investors greater confidence in where we’re moving and the balance of the year,” says Greg Bassuk, chief executive officer of AXS Investments. Here’s what professional investors will be watching in August and what it could mean for your portfolio.In July, concerns about the Delta variant’s impact on the economic recovery were to blame for some of the volatility in the market. And this continues to be “very much on everyone’s radar” in August, says Shawn Cruz, senior market strategist at TD Ameritrade. “We do expect it to drive some choppiness in the market.
At stake is how businesses and consumers will respond to the outbreaks in various parts of the country. High frequency economic indicators, which are more sensitive to real-time data than monthly reports, are back in focus, says Cruz, adding that the following leading indicators are especially useful right now:
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