A double whammy on US consumers. First, the government issued an alarming update to the biggest jobs data there is. Then retail giant Target stunned with its Q3 results and more so its guidance for Q4. The thing is, both of those are related; two sides of the macro coin. The one says the summer started really badly, the other it didn't get better.
Eurodollar University's Money & Macro Analysis
Reuters Target raises 2024 profit forecast as price cuts draw shoppershttps://www.reuters.com/business/retail-consumer/target-raises-annual-profit-forecast-after-price-cuts-boost-quarterly-sales-2024-08-21/
CNBC Target shares plunge 20% after discounter cuts forecast, posts biggest earnings miss in two yearshttps://www.cnbc.com/2024/11/20/target-tgt-q3-2024-earnings.html
Bloomberg Target Shares Tumble After Retailer Cuts Profit Outlookhttps://www.bloomberg.com/news/articles/2024-11-20/target-tgt-trims-profit-outlook-on-inventory-buildup-higher-costs
CNN As Americans bargain shop, six-figure earners flock to Walmarthttps://www.cnn.com/2024/11/19/investing/walmart-stock-earnings/index.html
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