Are US consumer spending patterns changing?

Roula Khalaf, Editor of the FT, highlights key stories in her weekly newsletter. Recent market optimism was fueled by Amazon’s $38bn AI capacity deal with OpenAI, boosting its shares by 4%. However, consumer-facing companies reported disappointing earnings, particularly in staples and discretionary sectors, raising concerns about consumer health, despite overall strong revenue growth in S&P 500 companies. Some high-frequency data indicates potential consumer spending slowdowns, emphasizing the need for careful analysis amidst mixed macroeconomic signals.