>> OF THE FOUR CANDIDATES, I WOULD SAY PROBABLY THE WORST. >> I EXPECT THEM TO BE TESTED. >> THIS IS GOING TO BE AN INTERESTING CONFIRMATION PROCESS. >> I FULLY EXPECT KEVIN WARSH WILL GET THROUGH. >> MORE IMPORTANT IS HOW THE ECONOMY EVOLVES. >> THIS IS "BLOOMBERG SURVEILLANCE. " JONATHAN: LIVE FROM NEW YORK CITY THIS MORNING, GOOD MORNING, GOOD MORNING. FOR OUR AUDIENCE WORLDWIDE, "BLOOMBERG SURVEILLANCE. " COMING INTO MONDAY, MEETING GRAVITY. THIS YEAR'S BIG WINNERS THREATENING TO UNDO THIS YEAR'S EQUITY ...

Heard on the Street: Chinese shoppers are returning to luxury stores—but with less appetite to spend and in diminished numbers https://t.co/WPMPIrXNWQ ...

Core Insights - Credit card issuers, including Visa and American Express, report strong consumer spending in the last quarter of 2025, indicating a positive outlook for the upcoming holiday season for retailers [1] Group 1: Company Performance - Visa and American Express have demonstrated robust earnings, suggesting that consumer spending remains resilient and is growing at a healthy rate [1] Group 2: Industry Implications - The positive earnings reports from credit card companies signal a strong holiday season ahead for retailers, as consumer confidence and spending are expected to continue [1]

Core Insights - The payments company reported a profit of $5.85 billion, driven by strong consumer spending during the holiday season [1] Financial Performance - The profit figure of $5.85 billion indicates a significant financial performance, reflecting robust consumer activity [1]

Core Insights - Visa reported an increase in first-quarter profit, driven by higher card usage during the holiday season, supported by strong U.S. consumer spending [1] Company Performance - The rise in profit indicates a positive trend in Visa's financial performance, reflecting the company's ability to capitalize on consumer spending patterns during peak shopping periods [1] Industry Context - The increase in cardholder transactions suggests a robust recovery in consumer confidence and spending within the U.S. economy, which is beneficial for the payment processing industry as a whole [1]

Core Insights - Mastercard has demonstrated a strong performance at the beginning of the year, which counters concerns regarding a slowdown in consumer spending [1] Company Summary - The analyst highlights that Mastercard's early-year results are robust, indicating resilience in consumer spending patterns despite broader economic fears [1]

Core Insights - Mastercard reported an increase in fourth-quarter profit and sales, indicating strong performance in the financial sector [1] - The company noted that both consumer and business spending remained healthy, suggesting a positive economic environment [1] Financial Performance - The fourth-quarter profit and sales figures were higher compared to previous periods, reflecting robust growth [1] Consumer and Business Spending - Mastercard highlighted that spending patterns among consumers and businesses are strong, which may contribute to continued growth in the financial services industry [1]

Core Viewpoint - The Federal Open Market Committee (FOMC) decided to maintain the Fed funds rate at 3.5%-3.75%, with minimal market reaction, as the S&P 500 closed nearly flat, down 0.01% [1]. Group 1: Economic Assessment by Jerome Powell - Powell indicated that the risks of inflation and unemployment have diminished, although they still persist [4]. - The Fed Chair noted that the labor market is stabilizing, with the unemployment rate around 4.4% in recent months [4]. - Powell suggested that the impact of tariffs has largely been absorbed, although they continue to keep goods inflation above the Fed's 2% target, while services inflation is decreasing [5]. Group 2: Labor Market Insights - Powell expressed optimism regarding the labor market, attributing weak job growth to immigration restrictions affecting both labor supply and demand [6]. - Consumer spending remains strong according to data, despite reports of weak consumer confidence [6]. Group 3: Implications for Investors - Generally, falling interest rates are favorable for stock market investors as they prefer stocks over bonds and benefit from easier borrowing conditions for companies [7]. - However, recessionary conditions often lead to rate cuts, which can negatively impact stock prices [7].

Industry Overview - Consumers are cautious due to economic challenges such as high inflation and a potentially weakening job market, leading to reduced spending [1] - The S&P 500 consumer discretionary sector has returned 4.8% over the past year, significantly lower than the S&P 500's overall return of 15.1% [1] Nike - Nike has historically been a dominant player in the sportswear market, with approximately 65% of its sales coming from footwear [4] - Recent sales have been declining due to increased competition, lack of innovative products, and a strategic shift to direct-to-consumer sales, which has impacted relationships with wholesale partners [5] - In the fiscal third quarter, Nike's sales growth was stagnant after adjusting for foreign-currency effects, with wholesale revenue increasing by 8% but direct revenue declining by 9% [6] TJX Companies - TJX Companies operates an off-price retail business under brands like TJ Maxx and Marshalls, capitalizing on purchasing excess inventory at attractive prices [7] - The company has benefited from economic conditions that allow it to source a wider selection of discounted goods, particularly during challenging times [8] - In the fiscal third quarter, TJX reported a 5% increase in same-store sales, achieving positive comps across all its business segments [8]

Concerns are starting to surface about whether the engine powering the economy — consumer spending — might run out of gas as consumption grows faster than incomes https://t.co/up1MHWp3Qa ...