Squawk on the Street SOTS 2nd Hour: PCE Breakdown, Retail's "Big 5", and an Exclusive w/the CEO of American Express 11/27/24
Nov 27, 2024
The discussion kicks off with the latest PCE inflation data, shedding light on the economic health and market implications. Insights into the holiday retail landscape reveal a surge in consumer spending, particularly online. Experts emphasize the significance of small businesses facing challenges from inflation. A deep dive with the American Express CEO highlights shifting consumer behaviors. The chat also touches on potential regulatory risks in finance and the effects of upcoming government policies on the economy.
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Thanksgiving Meal Costs
- Thanksgiving meals cost 5% less this year compared to last year, per the Farm Bureau.
- Walmart also reports a 3% decrease in Thanksgiving meal costs.
PCE Data and Tariffs
- PCE data reveals a 1% decline in goods and a 3.9% rise in services.
- Potential Trump tariffs could reverse the declining trend in goods prices.
Bond Market and Deregulation
- David Zervos finds the bond market's reaction to Trump's election more significant than daily data fluctuations.
- Lower 10-year yields suggest market excitement about potential deregulation.