Consumer spending accounts for more than two-thirds of the U.S. economy, and the retail figures indicated that consumers were not yet tightening purse strings despite dire economic predictions
. The company said it sold 175 million items, including 100,000 laptops and 200,000 televisions, during what amounted to its"largest shopping event in Amazon history."
Traders work after the opening bell at the New York Stock Exchange on August 15 at Wall Street in New York City.Although July figures for the consumer sentiment index come out on Friday, June figures indicated a healthy consumer view of the economy. Still, analysts will be watching upcoming data releases and the yield curve trends closely. Treasury yield curves have inverted before all the recessions in the last 50 years. But that inversion doesn't definitively dictate that a recession is looming.
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