$100 Oil, Cramer & Moynihan: What It Means for Your Plan
In this segment, Mike Milligan references a recent interview on Mad Money where Bank of America CEO Brian Moynihan reiterated his earlier comments about the resilience of U.S. consumer spending. Moynihan cites Bank of America’s proprietary card‑transaction data showing that consumer spending rose about 4% year‑over‑year in August and 5% versus the prior quarter. He also notes that credit conditions remain strong, with credit‑card delinquencies low and business credit robust. Milligan ties this update to his broader thesis that the two most important forward‑looking data streams for investors right now are (1) consumer spending trends and (2) AI‑related capital‑expenditure (AI CapEx) trends. By highlighting Moynihan’s fresh read on consumer spending, Milligan signals that investors should weigh this data stream heavily when shaping their financial plans.
