Walmart leads the retail earnings report! If U.S. consumer spending cools down but does not stall, the soft landing trade is expected to receive further positive momentum.

According to the Zhitong Finance APP, despite soaring gasoline and food prices, American consumers have continued to demonstrate surprising resilience in consumer spending this year, much to the delight of investors. However, Goldman Sachs economists warn that this strong resilience may soon face challenges. A newly released set of consumption data, including inflation and retail sales figures, can be seen as a marginal positive for reducing expectations of Federal Reserve interest rate hikes and significantly boosting the prospects of a soft landing for the U.S. economy, provided that the current slowdown remains a matter of demand normalization rather than drifting into recession.