As elevated interest rates continue to impact consumers, economic uncertainty persists. Dan Skelly, Morgan Stanley Wealth Management managing director and head of market research and strategy, joins Market Domination to share his outlook.
Skelly observes "mixed data" across recent economic indicators and conflicting consumer signals. However, he notes that "clarity" is emerging: the longer rates remain high, the more pronounced the divergence becomes between rate-sensitive and less rate-sensitive cohorts. This dynamic is creating a notable disparity between high-income and low-income earners.
Given this situation, Skelly explains, "If the top income cohorts account for the majority and the lion’s share of spending, if that second track begins to degrade or slow down, can that actually move the overall averages? And our view is most likely not." This perspective reinforces his stance on a potential economic soft landing scenario.
About Yahoo Finance:
Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life.
– Get the latest news and data at finance.yahoo.com
– Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO)
– Follow Yahoo Finance on social:
X: http://twitter.com/YahooFinance
Instagram: https://www.instagram.com/yahoofinance/?hl=en
TikTok: https://www.tiktok.com/@yahoofinance?lang=en
Facebook: https://www.facebook.com/yahoofinance/
LinkedIn: https://www.linkedin.com/company/yahoo-finance
