Premium"Did Something Change?": Goldman Trading Desk Warns Hedge Funds Are Suddenly Dumping Consumer Stocks
This article is so good
it's for premium members only.
Does that sound like you?
PREMIUM
ONLY $30/MONTH
BILLED ANNUALLY OR $35 MONTHLY
All BASIC features, plus:
- Premium Articles: Dive into subscriber-only content, market analysis, and insights that keep you ahead of the game.
- Access to our Private X Account, The Market Ear analysis, and Newsquawk
- Ad-Free Experience: Enjoy an uninterrupted browsing experience.
PROFESSIONAL
ONLY $125/MONTH
BILLED ANNUALLY OR $150 MONTHLY
All PREMIUM features, plus:
- Research Catalog: Access to our constantly updated research database, via a private Dropbox account (including hedge fund letters, research reports and analyses from all the top Wall Street banks)
While stocks are trading just shy of record highs, some Wall Street desks are starting to worry that the US consumer - the colossal, if extremely overindebted, driving force behind 70% of US GDP growth - is starting to sputter.
As Goldman's retail specialist Scott Feiler writes in a note today (full pdf available to professional subscribers in the usual place), while his inbounds from investors and clients continue to remain "constructive on consumers" (mainly around the various "constructive corporate tones" out of a competitor’s conference which are a mutual cheerleading circlejerk rather than any objective assessment of US spending power), Goldman's Prime Brokerage data showed that Consumer/Specialty Retail stocks were the most net sold sector in the market all of last week by a good amount.
