Consumer spending jumped in July as retail sales were up 1%, much better than expected

CNBC's Rick Santelli joins 'Squawk Box' to break down the July retail sales data, latest initial jobless claims report, import prices, and more.

[@KacieLehman]

I feel investors should focus on under-the-radar stocks, considering the current rollercoaster nature of the stock market, Because 35% of my $270k portfolio comprises plummeting stocks that were once revered. I don't know where to go here out of devastation.

[@FolarinSodiq]

The safest approach I feel to tackle it is to diversify investments. By spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown.

[@ShellyHuerta]

@@FolarinSodiq It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.

[@KacieLehman]

@@ShellyHuerta This is considerable! think you could suggest any professionals/advisors? I'm in dire need of proper portfolio allocation.

[@ShellyHuerta]

@@KacieLehman My CFA ’ is “Victoria Carmen Santaella”, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

[@KacieLehman]

@@ShellyHuerta Appreciate this recommendation, hopefully, I can get some insight into where the market is headed and strategies to beat the downtrend when I hear back from Victoria Carmen Santaella.

[@mrcmid9132]

🤔 if markets are up and people are spending, why would the federal reserve cut rates?

[@PianoUniverse]

next month

[@robertjones2282]

Becuase the Fed wants hyperinflation.

[@maribatcric]

The high interest rate has a delayed effect on the economy. You don't want to wait until the inflation rate gets to 2% before cutting. That would mean that there would be further, delayed impacts of the decision that could cause a recession. You don't start applying the brakes in your car just when you reach an obstacle. You start applying them in advance of the obstacle.

[@tterb777]

Well. Based on this no interest-rate cut in September.

[@LiquidFlux66]

There will always be sectors of the economy that do better than others..either artificially or actual..for instance, I'm in big box retail. Short term employee layoffs,cutting hours and other business expenditures reflect the bottom line...In actual profit of business products and services my brand of retail is suffering big time..The sales numbers are not even close to the margins expected..And this has been trending for months..Short term solutions are just that short term solutions..That artificial profit, artificially raises the stock price making it seem appealing..Cisco lays off 6000 people and the stock price rises...To be fair,yes a tech giant like Cisco is profitable by way of services and products. However layoffs definitely aren't due to increased productivity or business expansion.Maybe technology replacing people?

[@stevezide9801]

I don't get it. Of course the consumer is spending more. Prices are way up from a few years ago. Our bills are higher. We're not buying more, we're buying the same (or less) at higher prices.

[@anthonyd4119]

Inflation is 2.9% year over year so prices are not that much higher as you think

[@MatthewMS.]

No US economic report is official until read by CNBC’s Rick Santelli 📄🇺🇸 Absolutely Beautiful 💥‼️ I knew it. Roaring 20’s Party Back On 🎉🥳

[@tegan-x6r]

My life changed too when I started doing this and putting money in stocks. The first few years it as really great, but this year I haven't felt like my portfolio is doing well. I have lost more than $40,000 from my portfolio the past four months, and it's now very worrisome.,..

[@robertjones2282]

Time to RAISE rates or get ready for hyperinflation.

[@samwalton4598]

Back to school bump in retail sales!

[@William1866]

And next month it will be revised lower. I am so sick of this.

[@nolanstephenson2599]

When you do these releases can you please put the results on the screen as he's reading them off?

[@slo232000]

Don't be fooled by these phony "sales are up" reports. Of course overall retail sales will look strong when inflation has severely impacted pricing on everything you purchase now. People are buying WAY less but still paying same or more for less products. Most items I purchase on a regular basis are up 30%-50% and many items have doubled in price in the past few years (or more).

[@2023gainer]

Strong spending to save money long-term. FSRNQ.. Fisker rising 20 % today..Zapp... Rivian... Lucid...Lev..Lion Electric..QS..Li Auto... Tata Motors and more.

[@tterb777]

No interest rate cut in September. The economy is still too hot.

[@cloycecarlen7916]

If the economy is so good, why are thousands and thousands of retail stores closing??? Every time we get a government economic report, the next month it is ALWAYS revised LOWER! Explain that CNCB guys!

[@MM-xg2td]

Yeah more spending in JULY during VACATION during TOURIST TIME....

[@JustinStempel-d9p]

Good then do not cut rates!

[@ssuwandi3240]

Because price still creeps up. Thanks the fallacy of KommieLa Green deal

[@cmac7384]

All the MAGA weirdos are gone. When stock market made correction couple of weeks ago they blamed Harris. Are you gonna praise her now?

[@Nyhiak]

Poor CNBC still praying for recession. Apparently they are still waiting for $5k gold and investment sneakers.

[@dons3073]

Back to school shopping and going broke and you know it

[@C.J.M..]

The Kamala bump?

[@robertjones2282]

How can an anti capitalist have an economic bump ? 😂

[@dons3073]

They have to spend more for less what’s better about that it’s not

[@lfischer8380]

Even CNBC's democratic shills are exposed when Santelli's commentary parallels the government published numbers. However, the listener must be able to think critically. Otherwise, one misses the subtle sidebar.

[@tterb777]

I agree with some folks. Time to raise interest rates.

[@juanrestrepo302]

Way to Go! Retail Spending up in July - Thank you President Biden

[@chuyenpham3336]

Greattt

[@dreadfuldonkey]

Hey, I seen your Social Security number on the dark web

[@tterb777]

Or Trump campaign that’s all I can say