“Our forecast reflects the very realistic steady momentum of the economy and overall strength of the industry,” NRF President and CEO Matthew Shay said. “Although this year hasn’t been perfect, especially with the recent devastating hurricanes, we believe that a longer shopping season and strong consumer confidence will deliver retailers a strong holiday season.”
The NRF is confident this could be the best increase in holiday spending in three years, reinforcing my contention that all the post-election enthusiasm is coming to fruition. The manifestation of optimism is a secret elixir to what ails the country that Washington, D.C. hasn’t been able to derail- not for lack of trying.
September auto sales are pouring in, and thus far, are also reflecting not just resolve, but a return of animal spirits that allows folks to spend.
Major indices are on pace to achieve record highs – again, but valuation metrics aren’t out of whack or anywhere near catastrophe levels. Still, don’t be afraid to take profits or even losses (if your positions are not moving, and you’re limited on cash. It’s often better to take the hit and redeploy funds).
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