This week’s crash in retail stocks was more serious than many realize.
Retail giants said inflation is reducing spending on nonessential items.
Consumers are going from being handed $4 trillion to no discretionary income.
Now throw in rising rates and a topping housing market.
— The Kobeissi Letter (@KobeissiLetter) May 21, 2022
MORE HORRORS AWAIT AFTER $550 BILLION RETAIL EARNINGS MELTDOWN; RISING COSTS, INVENTORIES AMONG KEY ISSUES FACING THE INDUSTRY: BBG
— FXHedge (@Fxhedgers) May 22, 2022
https://twitter.com/RetirementRight/status/1528168609037492225
The forward 12-month P/E ratio for $SPX of 16.4 is below the 5-year average (18.6) and below the 10-year average (16.9). #earnings, #earningsinsight, https://t.co/dZRPYPJ5mL pic.twitter.com/jXpOGvpobe
— FactSet (@FactSet) May 22, 2022
Charts from the weekly surveys by @Callum_Thomas — technicals mixed, fundamental sentiment still majority bearish for equities… pic.twitter.com/U13IDOlJ7Z
— Topdown Charts (@topdowncharts) May 23, 2022