Retail

Two overlooked, ‘Fed-proof’ August laggards could be due for a bounce

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Some of August’s duds could be setting up for a strong end to the year.

That’s according to two market analysts who told CNBC’s “Trading Nation” on Friday that the retail trade should pick up steam for the rest of 2021 as back-to-school and holiday shopping return.

“Consumers are sitting on a ton of cash,” between $3 trillion and $5 trillion in excess savings, Federated Hermes portfolio manager Steve Chiavarone said.

“Wages are moving up at a nice clip. And while delayed in some places, we think back to school and back to work are not at all canceled, so we think areas of consumer spending like apparel, electronics are going to be really strong in this back-to-school season,” he…



Source cnbc.com

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