So Many Records…
Levels of consumer debt are on the rise — sitting at more than $4 trillion this year. That’s a record, by the way.
And the holiday shopping season will only add to that number. But it’s not just Christmas shopping anymore. Nope. Sales of Halloween costumes have gone through the roof as many Americans feel the need to be Instagram-ready.
As for online holiday sales, they’re expected to set a record $143.7 billion this year. That doesn’t include brick-and-mortar sales.
So much record-breaking, right?
That includes the S&P 500 yesterday that topped out at — we’re rounding here — 3,042.
Record consumer debt. Record spending. Record market.
We have concerns. How about you? We welcome your feedback.
Your Rundown for Tuesday, October 29, 2019:
A concerning economic environment, to be sure. Did we mention the Fed’s expected to cut rates again tomorrow? It’s almost a certainty.
So how to invest in this market…
We like the idea of taking advantage of consumer credit. (To be clear, not by ringing up more debt on credit cards.)
Yesterday, Mastercard announced third-quarter earnings.
Earnings exceeded analysts’ expectations on both revenue and earnings per share — for what it’s worth.
Earnings aside, we think Mastercard’s on track and the company’s wisely going after the business-to-business market (B2B).
Mastercard’s CEO Ajay Banga says: “We have recently expanded several key customer relationships, announced our Mastercard Track suite of B2B solutions and launched the faster, more secure click-to-pay online checkout experience.”
At the end of the day, we don’t think you can go wrong with Visa (V) or Mastercard (MA) stock right now. But Mastercard’s definitely a nice surprise.
Market Rundown for Tues. October 29, 2019
S&P 500 futures are down 3 points to 3,033.
Oil is down $1.08 to $54.78 for a barrel of WTI.
Gold’s lost $4.60 to a price of $1,491.20 per ounce.
Bitcoin is down $43.70 to $9,404.96.
Have a good day. We’ll talk tomorrow.
For the Rundown,