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It’s understandable investors would assume that Amazon is a great representation of consumer discretionary spending – and the overall economy, for that matter.
But I think I can go one better… It might suprise you, but I think Costco is actually the better yardstick, and I’ll show you exactly why.
See, when Costco beats, equities and consumer spending appear to continue to rise. When they miss, Costco usually falls anywhere from 5% to 20%, and the economy gets wheezy. We’re going to look at all that in the context of inflation and jobs data – before those numbers hit tomorrow.
