So far, based on data from Adobe Analytics, consumer spending is strong so far. From Nov. 1 to Nov. 26, consumers spent a whopping $50.5 billion. And, so far, it looks like the consumer is on track to spend around $143 billion throughout November and December, as Adobe Analytics has forecasted.
But, what if the consumer doesn't spend as much and misses expectations?
Tony Owusu, markets reporter for TheStreet and Chris Versace, Real Money contributor, sat down with TheStreet to talk about Black Friday and what to expect from the markets if consumer spending doesn't quite hit the mark this year.
"You know, I think it's a great question. When we look at the context of what we've been seeing as the market continuing to melt higher amid uncertainty on the trade front. You know, are we getting a China deal? Are we not...We've got December quarter expectations that make or break S&P 500 earnings for all of 2019. I do think that if we see Black Friday coming in weaker than expected, then yes, we will see the market give back some of the recent gains on Black Friday," said Versace.
Watch the full video above.
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