Investors warily wait for spending report - Stocks & economy- msnbc.com »
Posted By Eagle_Eye 3 months, 1 week ago in Business & Finance
CHARLOTTE, N.C. - Wall Street wants consumers to do their part to heal the economy. Traders know it's going to take some time.
Investors will get some insight this week into how much consumers are spending from a government report on August retail sales. They'll also get an indicator of how willing consumers are to borrow money to make those purchases when credit card lender Discover Financial Services reports earnings.
"I think everybody is focusing so heavily on if people are releasing some of those dollars they have been clinging so tightly to over the past year," said Jamie Cox, managing partner at Harris Financial Group in Colonial Heights, Va.
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