Tuesday, August 25, 2015
Signs of Stability
Why are U.S. stocks up so decisively today after another historic selloff in China? Part of it, of course, is that Wall Street gives a great deal of credence to monetary moves. But there are two other reasons for investor optimism. One was a note from Apple indicating that it sees continuing growth in its operations in China. Another is a surprisingly strong report from Best Buy, a U.S. consumer electronics retailer. Both are indications that consumers continue to be interested in electronics. If consumers are moving away from manufactured goods, as investors fear, it couldn’t be happening very broadly or quickly.