Jun. 8 at 6:10 PM
$SPY higher prices for gas the the pump weighing on consumer products companies, e.g.
$HSY and
$CAG (which has been nothing short of an epic fail) are two good examples, but CEOs of many other companies saying the consumer is backing off or cannot afford products. The wealth divide is expanding at an ever-faster rate. The middle class has been erased, replaced by the lower middle class. Progressives are seizing on it, while conservatives remain quiet. Gonna be an interesting mid-cycle election in Nov. Republicans, though, seem in a little better position to keep the Senate than just a couple months ago (unless the War extends into Nov). Think the House flips DEM. Gridlock will be good for the market.
