Again at highs, stocks to take cues from consumerA U.S. stock market that rose again to record highs on Friday on the back of a robust employment report will take its cues next week from a facet of the economy that also has shown signs of strength: the consumer. After a tepid first half, the S&P consumer discretionary sector .SPLRCD has climbed more than 4 percent since the end of June, helping lead the market along with tech and healthcare. Recent data has shown solid consumer spending, including higher-than-expected outlays in June as households bought more goods and services. Countering those concerns is sentiment that with bond yields low, investors will stay attracted to stocks, especially those with lofty dividends. “The consumer, in our mind, is a lever that could cause equities to trend higher,” said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management in Minneapolis.

Source: Manila Bulletin August 05, 2016 19:07 UTC