Technology & consumer discretionary companies may faced the most challenges in this environment: Orlando of Federated Hermes. With consumer spending such an crucial & essential factor in U.S. economic growth
It represents ~ 70% of GDP; with holiday season bears closely watching.
Concerned margins could be under an extraordinary amount of pressure too
1 cautionary sign: Walmart (WMT) plans to hire fewer seasonal workers during the holiday season than it did last year.
It will also offer current employees extra hours before adding to staff.
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