Hi, I'm Ralpow, co-founder and CEO of Real Vision. Thank you so much for listening to the Real Vision

podcast.

At Real Vision, we pride ourselves in providing the best in-depth expert analysis available to help you understand the complex world

of finance, business and the global economy.

If you like what you hear, I hope you'll accept my invitation to try Real Vision Plus for 30 days for just

one dollar. Visit real Vision Podcast.com today and join us as we navigate the financial

world together.

Cheers. Welcome to the Real Vision Daily Briefing. It's Tuesday, May 5th. I'm Peter Cooper and we have

Real Vision's Ash Bennington and Tony Greer standing by to give you their macro analysis

But before we go to them, let's go over the latest in market news.

April was a month of extraordinary volatility, and at the end of it, U.S. markets had gains

unlike anything we've seen in decades.

The NASDAQ was up 15% by month's end, and the S&P 500 almost 13%.

Many of the largest indices have rebounded over 30% off of their 2020 lows.

Despite all of this, Consumer Discretionary is bracing for a big hit soon. Let's look at some of the highlights that help fill in the picture.

In a matter of weeks, American consumers had drastically changed their spending patterns.

A handful of industries that have been booming are groceries, deliveries, and takeout,

and some forms of entertainment, such as streaming. However, most others, as we expect, are down.

Interestingly enough, though, overall spending for health has also suffered a drop.

This is reflected in some of the most recent coverage in retail and autos.

On Monday, J crew announced that they had filed for Chapter 11 bankruptcy protection.

The longevity of the privately owned company was already on shaky ground before the pandemic.

...