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Sentiment

Coach Rose 14%. Kate Spade Fell 7%. The Economy Wasn’t the Difference.

Aug 19, 2026

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3 min read

Coach Rose 14%. Kate Spade Fell 7%. The Economy Wasn’t the Difference.

Coach sales rose 14% in constant currency in Tapestry’s quarter ended June 27, while Kate Spade sales fell 7%. Both brands operated under the same parent company and the same broad economic backdrop. The split shows how selective demand can separate businesses even when the consumer environment is shared.

Rates

A $432 Billion July Deficit. Yet the U.S. Credit Outlook Stayed Stable.

Aug 17, 2026

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3 min read

A $432 Billion July Deficit. Yet the U.S. Credit Outlook Stayed Stable.

The U.S. posted a record $432 billion July deficit, Treasury reported August 12. One day later, Fitch kept the sovereign rating at AA+ with a stable outlook. The contrast shows how weak fiscal math can coexist with deep financial strength.

Liquidity

GLP-1 Use Reached 11%. The Wardrobe Reset Has Begun.

Aug 15, 2026

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3 min read

GLP-1 Use Reached 11%. The Wardrobe Reset Has Begun.

Gallup reported on July 7 that 11% of U.S. adults currently take GLP-1 drugs for weight loss, up from 3% in 2024. More than two-thirds of users surveyed said size changes made them more likely to shop for clothes in person. A healthcare shift is starting to reshape retail demand.

Sentiment

Ten Stocks Hold 37.6% of the S&P 500. Small-Business Confidence Is Moving the Other Way.

Aug 13, 2026

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3 min read

Ten Stocks Hold 37.6% of the S&P 500. Small-Business Confidence Is Moving the Other Way.

The NFIB Small Business Optimism Index rose 2.4 points to 99.8 in July, its highest level since August 2025. The 10 largest S&P 500 stocks made up 37.6% of the index at the end of July. Confidence is improving beyond the stocks that dominate the index.

Rates

Labor’s Share Fell to 52.9%. Productivity Gains Are Flowing Unevenly.

Aug 12, 2026

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3 min read

Labor’s Share Fell to 52.9%. Productivity Gains Are Flowing Unevenly.

Labor’s share of nonfarm business output fell to 52.9% in the second quarter, the lowest since records began in 1947. Productivity rose 2.2% from a year earlier while real hourly compensation slipped 0.1%. The economy is producing more without distributing those gains evenly.

Liquidity

Value Retail Sales Rose 11.6%. Conventional Retailers Managed 2.3%.

Aug 10, 2026

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4 min read

Value Retail Sales Rose 11.6%. Conventional Retailers Managed 2.3%.

Value retailers grew sales 11.6% from January through May 2026, five times the 2.3% growth at conventional retailers. Store-brand sales also reached a record $282.8 billion in 2025. Consumer demand is shifting toward retailers that can make lower prices feel like a lasting choice.

Positioning

UPS Delivered Fewer Packages. Revenue Still Reached $22.8 Billion.

Aug 8, 2026

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3 min read

UPS Delivered Fewer Packages. Revenue Still Reached $22.8 Billion.

UPS reported $22.8 billion in second-quarter revenue on July 28, up 7.6% from a year earlier, while average daily U.S. package volume fell 3.3%. Revenue per domestic package rose 9.3%, but the shares closed down 6.6%. The market was separating better shipment economics from confidence in the broader reset.

Sentiment

Q2 GDP Slowed to 1.5%. The Price Measure Jumped to 5.7%.

Aug 6, 2026

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3 min read

Q2 GDP Slowed to 1.5%. The Price Measure Jumped to 5.7%.

Real GDP grew at a 1.5% annual rate in the second quarter, down from 2.1% in the first. The price index for gross domestic purchases accelerated to 5.7%, while private domestic demand strengthened. Rising Treasury yields showed that slower growth did not settle the inflation question.

Sentiment

U.S. Exports Hit a Five-Month Low. The Smaller Deficit Hid the Weakness.

Aug 5, 2026

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2 min read

U.S. Exports Hit a Five-Month Low. The Smaller Deficit Hid the Weakness.

The U.S. goods-trade deficit narrowed 4.2% to $101.5 billion in June. Imports fell $8.2 billion, while exports dropped to a five-month low. The better headline masked weaker trade flows in both directions.