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U.S. Auto Sales Give More of a Read on Consumer Spending

Date:
June 4, 2014
Source:
TheStreet / Powered by NewsLook.com
Summary:
U.S. Auto Sales came in at 16.7 million units vs consensus of 16 million units, the strongest reading since August 2008. Stephanie Link and Jill Malandrino point out that General Motors, in particular, blew away the numbers, despite the headwinds faced due to the massive amounts of recalls. Link believes it speaks to the new product cycle, largely driven by SUVs and trucks, and the reason why the Action Alerts Plus portfolio, which she co-manages with Jim Cramer, has been accumulating shares. Link and Malandrino also look at other areas in consumer and identify what stocks are out and underperforming and why. Video provided by TheStreet
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