PM, SFM, NKE/China, HAS, GPC, ORLY, Trading Flows: US Consumer Sector Specialist Commentary

研报英文原文证据摘录

PM, SFM, NKE/China, HAS, GPC, ORLY, Trading Flows: US Consumer Sector Specialist Commentary

“Flows picked up as Momo recovered yesterday (JPMPURE +3.5%). We were better to buy in Staples as the complex

underperformed throughout the day and saw defense of beverage names in particular (KO, KDP, PEP and MNST). In

discretionary, we got a lot of questions on the price action in AS (finished -5%) as stock sold off on a culmination of negative

checks away, supply fears and some derisking into DECK print – we ended up buying 800k, did not see the supply here.

There was positive consumer commentary out of COF earnings last night with Rick Shane's note highlighting that management

noted the U.S. consumer and overall economy remain resilient despite high energy prices, with the portfolio continuing to

perform remarkably well. The unemployment rate in June was lower than in February before the Iran conflict began, jobless

claims remained low, and job creation rebounded over the past few months. Consumer spending remained strong."

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