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Consumer Insights from the JPMorgan Chase Earnings Call
During today's JPMorgan Chase earnings call $JPM we got several interesting economic insights. Here are three quotes related to consumer spend that I found interesting:
- Consumer health and supply chain issues: "There's not one company now that's not working aggressively to fix the supply chain issues. Sales are still up, credit card, debit card spend still up, consumers in great shape. And capitalism works. I doubt we'll be talking about supply chain stuff in a year."
- Consumer spending: "Combined credit and debit spend was up 24% versus the third quarter of '19 and in line with last quarter." $V $MA
- Travel spending: "Within that data, travel and entertainment spend was up 8% versus 3Q '19 and very closely track the patterns of the Delta variant within the quarter, softening in August and early September and reaccelerating in recent weeks.". $ABNB $DAL $AAL $LUV $MAR $CCL
Here's the link to the JPMorgan Chase earnings call in case you'd like to review it. Tomorrow several other major banks report earnings so hopefully, we'll get a lot more insights.
This isn’t too surprising given that a lot of people have been re evaluating what is important to them and have the disposable income to make changes happen.
what we need to think about as investors is during this re evaluation what are the commonalities and which companies will be involved resulting in increased earnings.
For example a lot of people decided to get a pet so will $WOOF or $CHWY see a bump? Did a lot of people re paint their houses (who is involved in that supply chain) is the home office just a phase and everyone now has to go back to the office? Will furniture companies keep bumping up or start to drag.
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