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Does vaccine promise put U.S. consumers in a shopping mood? Retailers may have clues
November 16, 2020 6:13 PM ESTBy Caroline Valetkevitch
NEW YORK (Reuters) - As positive coronavirus vaccine news makes strategists more optimistic about the future for retailers, investors will look to earnings results and forecasts from these companies in the coming days for clues about consumer spending.
The thinking is that effective vaccines will "translate into positive performances for discretionary," said Sam Stovall, chief investment strategist for CFRA, which recently raised its recommendation on the S&P 500 consumer discretionary sector to overweight from market weight.
The pandemic and restrictions on businesses have added to revenue struggles for some traditional retailers like... More
