Weekly Talking Points for Financial Advisors (10/21/24)

Read the highlights of this week's commentary from Helios:

• Retail sales rose 0.4% in September, driven by spending at clothing and miscellaneous stores. The strong sales reflect resilient consumer spending and a healthy labor market, signaling another quarter of solid growth. While it doesn't alter expectations of a Federal Reserve rate cut next month, the data shows few signs of a significant economic slowdown.
• A Deloitte survey revealed US consumers plan to increase their overall holiday spending by 8% this year, with a strong focus on experiences. Shoppers also plan to prioritize value by choosing more affordable stores and brands, reflecting careful budgeting despite economic optimism.
• A Federal Reserve survey found US households' concerns about missing a minimum debt payment over the next three months rose to 14.2% in September, the highest level since April 2020, driven largely by middle-aged consumers. Despite this, respondents expressed optimism for the year ahead, expecting improved financial situations and credit access due to a stronger job market, rising stock prices, and lower interest rates.

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