Tesla and Amazon Distort Consumer Health Prognosis: John Authers

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Today’s Points:

• Take away Amazon.com and Tesla, and consumer discretionary stocks don’t look so strong.
• Even including them, consumer stocks lag the market — not a great sign.
• Tesla’s earnings multiple has trebled in 18 months — so no wonder its CEO wants incentives tied to the share price.
• The exodus from French bonds is accelerating; investors haven’t been so worried since Marine Le Pen last looked like winning.
• AND some final swan songs for a funeral.

Consumer Diagnostic Toolkit

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