Data for Store Sales released today shows that consumers reigned in their spending for the week, "driving the year-on-year to only +1.8% for one of the lowest rates of the recovery."
This was is spite of a rise in Personal Income for the month, while the price of goods (and housing) rose. Perhaps buyers are waiting for "back-to-school" sales before they part with any extra cash…or even paying off debt.
So far today, the credit card stocks are down from yesterday's close, as Visa pulls back from yesterday's all-time high…ones to watch for any further weakness developing.
