CNBC Daily Open: The American consumer
Publishing timestamp: 2023-08-09 20:03:48
Summary
U.S. futures are up after losses on Wednesday. President Biden signed an executive order requiring outbound U.S. investors to notify the Treasury Department of new investments supporting Chinese development of sensitive technologies. Disney shares rose after announcing a price increase for its ad-free streaming tier and cracking down on password sharing, but reported subscriber losses. The Panama Canal is experiencing congestion due to ongoing drought conditions. JPMorgan's trading desk outlined potential scenarios for Wall Street's response to the latest inflation report. American consumer behavior shows a preference for experiences over shopping, with airlines and hotel chains reporting a surge in bookings for international trips. However, toymakers and department stores are warning of tepid holiday spending, leading retailers to resort to promotional activities and markdowns.
Sentiment: MIXED
Tickers: JWN, .IXIC, M, AMZN, DIS, .DJI, .SPX,
Keywords: nordstrom inc, nasdaq composite, world markets, walt disney co, s&p 500 index, joe biden, macy's inc, united states, amazon.com inc, business news, dow jones industrial average, markets,
Source: https://www.cnbc.com/2023/08/10/cnbc-daily-open-the-american-consumer.html