Don't underestimate the American consumer 🛍️

Plus a charted review of the macro crosscurrents 🔀

Americans going out to eat and drink. (Source: Pexels)

Stocks closed higher last week with the S&P 500 rising 1.6%. The index is now up 9.2% year to date, up 17.2% from its October 12 closing low of 3,577.03, and down 12.6% from its January 3, 2022 record closing high of 4,796.56.

As worries about recession risks linger, the focus last week shifted to the…