The US Consumer Is On A Tear

Here's some good news to kick off the month: U.S. consumption is starting to look strong.

Chain store sales were up 1% week-over-week in the June 28 week. They were up a whopping 4.6% year-over-year, the highest rate since December 2011. This report came in strong for the second straight week.

"With the exception of grocery stores, ICSC-Goldman reports strength across all retail categories," according to Econoday.