Stock Market Winners & Losers: Markets Rise, Retail Sales Surge, What Recession? | Retail Sales Surged in July | A Sobering Reality Check for Alcohol
Stocks are rising as Walmart's strong earnings and positive economic data eased recession fears. Walmart's performance reassured investors about consumer spending, and falling jobless claims indicate a healthy labor market. The S&P 500 and Nasdaq are set to extend their winning streaks.
In Silicon Valley, the median home price hit $2.08 million, the first U.S. metro area to exceed $2 million. However, 86% of renters believe they can't afford to buy a home.
Super Bowl ads are selling for a record $7 million for 30 seconds, with Fox nearly sold out. Warren Buffet invested $266 million in Ulta Beauty, signaling confidence in the beauty industry's growth.
Retail sales rose 1% in July, boosted by events like Amazon Prime Day. However, sales in categories like sporting goods and clothing declined.
A Gallup poll shows 65% of 18 to 34-year-olds now believe moderate drinking is harmful, fueling growth in the no- and low-alcohol beverage market. Daily cannabis use has also surpassed frequent drinking, driven by a health-conscious trend.
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