What The U.S. Retail Sales Recovery Says About Corporate Earnings

Sep. 28, 2021 10:15 AM ETRTH, IYC, XRT, LUXE, ISHP, XLY, VCR, RXI, RCD, PEZ, FXD, PSCD, FDIS, JHMC, IEDI, IYK, XLP, VDC, KXI, RHS, PSL, FXG, PSCC, FSTA, JHMS, IECS
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Summary

  • Fernandes: U.S. retail sales in June 2020 were already higher than in December 2019.
  • Fernandes: US consumer is in a much better position than they were in 2008.
  • Fernandes: We see a potential slowdown in China as a potential risk to the U.S. corporate earnings outlook.

U.S. retail sales have managed to bounce back from the pandemic-driven recession of 2020 faster than they did during the 2008 recession. Anthony Okolie speaks with Damian Fernandes, Portfolio Manager, TD Asset Management, about what that means for corporate earnings.

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