Earnings results from major retailers in the coming weeks will test the strength of the U.S. stock market rally, as investors gain insight into the health of consumer spending and the fallout on company bottom lines from inflation.
"We are clearly emphasizing retailers in select industries versus the mass market retailers," Tuz said. "With the mass retailers, it’s just harder to identify what is going to make them grow.”
Since that meeting, data has shown U.S. consumer prices accelerating and monthly producer prices increasing by the most in seven months in January.
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