Two Ways To Play: Give Consumers Some Credit!
Strengthen your portfolio in good times and bad.
The Federal Reserve said today in Washington that consumer credit outstanding increased $4.6 billion in July to $2.587 trillion. That follows an $11 billion increase in June, which was previously reported to be at $14.3 billion.
Economists were expecting July credit growth to increase to $6.2 billion. Some believe the slowdown suggest that financial stress continues to hit households as borrowing tends to slow with softer spending in a weakening economy.
From the Bull Pen: Bulls continue to favor the consumer staples. One stock some are eying is Kellogg (K) for a possible double-top breakout at $57.
From the Bear Cave: Todd's talked about Visa (V) and MasterCard (MA) not being resistant to the slowing global growth theme. Those bearish can fade (read: sell) the stocks, Visa into its 50 DMA ($74.30) and MasterCard into its 200 DMA ($234).
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