The stock market rose on Wednesday following strong consumer spending. The Commerce Department said that retail sales increased 3% last month, the largest since March 2021.
Now, investors are assessing what strong retails sales, together with the latest inflation data, mean for the Fed’s interest rate hike campaign.
Overall, S&P 500 went up 0.3% to 4,148, while NASDAQ increased 0.9% to 12,071.
Tweet of the Day
These are unquestionably the leaders of the uptrend and are the 2 stocks I have envy over and do not own. The first correction to the 21 day ema is buyable. pic.twitter.com/atreRTUAe0
— Roy Mattox (@RoyLMattox) February 15, 2023
Chart of the Day
Our chart of the day is the ten-year chart of MasterCard (MA) as of February 8, 2023, when the stock was at $370.
MasterCard is a technology company in the global payments industry that connects consumers, financial institutions, merchants, governments, digital partners, businesses and other organizations worldwide, enabling them to use electronic forms of payment instead of cash and checks. It links the account holder, the account holder’s bank, the merchant, and the merchant’s bank.
Travel is one of the hot sectors this year. MasterCard delivered cross border volume growth of 30% last qtr.
MA is part of the Conservative Portfolio and Growth Portfolio.
