Wall St Week Ahead Consumer stocks' earnings may offer clues on U.S. economy’s resilience

Growing recession fears over the last year have already prompted many consumer discretionary companies to cut costs to boost margins, which may lead to positive earnings surprises this quarter, Melson said.to grow earnings by 36.5% in the first quarter of 2023 compared with a year earlier, the greatest increase of any sector, according to Refinitiv data. That compares with an expected 5.2% decline in earnings growth for the S&P 500 overall.

"Consumers are still traveling and spending money on high-end merchandise and people are still living it up," he said.

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