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Bank of America (BAC) Consumer Checkpoint says consumer spending showed solid resilience in January, with total card spending +2.6% Y/Y, strongest in nearly two years, despite weather‑related disruptions

Bank of America's Consumer Checkpoint suggests consumer spending is showing notable resilience, with a year-over-year increase despite weather disruptions.

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Secretary of State Rubio will meet Israel PM Netanyahu 09:00EST/14:00GMT at Blair House. Netanyahu will meet US President Trump at 11:00EST/16:00GMT at the White House

Bank of America (BAC) Consumer Checkpoint says consumer spending showed solid resilience in January, with total card spending +2.6% Y/Y, strongest in nearly two years, despite weather‑related disruptions

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US President Trump is privately considering exiting the North American trade pact, Bloomberg reports

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  • Income‑based divergence in spending and wage growth persists, BofA said, and it said it was concerned that a “K” shape is opening up between higher-income households and middle-income households, alongside the existing gap with lower-income households.
  • BofA says households remain adaptive and financially stable overall in the face of significant affordability challenges, supported by trading‑down behaviours, elevated savings and “dry powder” to borrow. 
  • Moreover, BofA thinks higher tax refunds may provide a significant support for consumers.
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However, the divergence in spending power across income levels remains a concern, indicating potential economic inequalities, which could influence retail performance and overall growth outlooks. This resilience may support a more optimistic view for consumer-related equities, though the widening income gap could present challenges for broader economic stability.

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