The stock market had a brutal third quarter, but consumer confidence and the labor market remain strong.
With uncertainty about what’s next, companies are showing signs that they are preparing for a possible drop-offBloomberg reported this week that Apple is turning away from a planned increase in production of its newest iPhone. Apple did not confirm the report or comment.Bank of America downgraded the stock in the days after the report, saying that “weaker consumer demand” could pose a risk to Apple’s business.
Target and Walmart are trying to assuage consumer budget concerns by starting holiday discounts early this year, the major retailers said last week. And Amazon seems to be following suit. The e-commerce giant announced this week it would hold a “Prime Early Access Sale” on Oct. 11 and 12 for members of its subscription program. The sale has similarities to Amazon’s annual Prime Day, which occurred in July.
rate from near zero to between 3 percent and 3.25 percent, and is expected to raise rates to 4.25 percent to 4.5 percent by the end of the year. “The analogy I’ve been experimenting with in my head is you’re pulling at a stuck door, and you need to open the door, and so you keep sort of pulling at it,” Barkin said in an interview with The Post. “If you pull too hard you might stumble, but hopefully stay on your feet. What you don’t want to do is pull so hard you pull the doorknob out.”