Monitor Show 07:00 06-01-2023 07:00
Are you someone who tries to drive while distracted by your phone? Someone who props it up on the steering wheel, or peeks down at it for a glance? Or just scrolls and scrolls? If so, you could be the next person to get into a fender bender, get a ticket, veer off the road, or even cause a crash that kills you or someone else. Enough with the phones already. Put them down and pay attention, or pay the price. You drive. You text. You pay. Paid for by NHTSA. Icing in growth opportunities over the next five years. This has been a very slow moving economy and market. If you have super high conviction right now, you're not paying attention. What we've seen so far seems more consistent with a soft landing in the labor market. We still think we're going to be in recession by the end of the year. This is Bloomberg Surveillance with Tom Keen, Jonathan Farrow, and Lisa Abramowitz. Something for everyone in retail, you've got to work out. Is this a story about Macy's or a story about the economy? Live from New York City this morning, good morning, good morning for our audience worldwide. This is Bloomberg Surveillance on TV and radio alongside Tom Keen and Lisa Abramowitz. I'm Jonathan Farrow. Futures just off session high is positive by 0 .2%, but the outlook from Macy's, the department store, here stateside, absolutely ugly, Tom. The stock performance, the price down 12%. Back to where it was. Off the pandemic with a nice little bounce here, there's been some enthusiasm. We heard the wonderful Oliver Chen on this with Cowan recently. You know what, John? It's just as simple as this. You've got Macy's negative 8 % per year over the last 10 years. This has been a mid -market train wreck over the long term. Some of these headlines on the consumer, excess merchandise, markdown still to come, Brammo demand trends weakened in discretionary categories, macro pressures on the consumer. They assume that that gets worse. Now, just looking at this.