The savings rate is under pressure, but consumer spending is expected to hold up even with inflation surging.
Here's what to watch in the markets on Friday, May 27, 2022.
Like many retail stocks this year, Best Buy (NYSE: BBY) recently reported poor first-quarter numbers and remained pessimistic about the rest of the year. Meanwhile, fellow retailers Walmart (NYSE: WMT) and Target (NYSE: TGT) reported better first-quarter numbers, and shares of those companies cratered. Best Buy's first-quarter report showed that sales fell 8.5% from the same quarter last year.