The Consumer Looks Just Fine 🌤️ The Morning Print
Good morning!
The Leisure & Entertainment ETF (PEJ) closed at a new all-time high yesterday.
Let's take a look.
I view this ETF as one of the purest ways to measure the health of the consumer.
Its holdings include cruise lines, hotels, casinos, and a wide range of other entertainment related companies.
When COVID hit, many of these businesses were hit hard as consumer spending shifted toward physical goods, a trend reflected in the Retail ETF ($XRT).
Now, several years into the post-pandemic recovery, consumers are favoring experiences over material items.
The United States is a consumer-driven economy.
And when leisure & entertainment stocks are reaching record highs, how bad can things really be?
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