Welcome to Seeking Office Wall Street Lunch.

Our afternoon update on today's market action news and analysis.

Good afternoon. Today is Tuesday, September 19th, and I'm your host, Kim Khan. Our top story so far in today's session.

Halloween is still more than a month away, but it's already time to think about holiday shopping.

Mastercard spending pulse is out with its forecast for holiday retail sales. holiday would reinforce the narrative of a US consumer resilience in the face of inflation,

high interest rates, the resumption of student loan payments, and other macrohead wins.

After years of inventory and spending habits being in flux, the 2023 season is anticipated to bring a broader

rebalancing across categories, channels, and sectors.

Michelle Meyer, U.S. Chief Economist at Mastercard Economics Institute, says that while the consumer of holidays present has

has taken their footing.

The consumer of holidays present has taken their power back

and she expects them to impressively navigate the holiday season, making choices and trade-offs that best suit their lifestyles.

E-commerce sales are expected to increase 6.7% year over year, and in-store sales to increase 2.9%.

That's a smaller gap than during the pandemic when Amazon,

Etsie, and Wayfair saw huge sales games.

The expectation is that electronics, gadgets, and gaming

might be at the top of many wish lists this year as AI and

immersive experiences as well as digital workspaces continue to evolve the way consumers work

and play.

The restaurant sector is expected to continue its growth streak, but apparel sales are only seen rising 1%, as the challenges may continue for department store operators.

In today's trading, stocks continue to stay in a holding pattern as the Fed begins its two-day meeting.

The S&P 500, Dow and NASDAQ were slightly lower after closing barely higher in the previous session.

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