US consumers are cautious but still spending: Visa economist

The US economy is showing mixed trends at best as the Trump administration continues to overhaul the global trading system. First quarter GDP fell 0.3%, but is expected to bounce back slightly in the second quarter. Consumer confidence has been on a downtrend. And the world’s biggest consumer companies, including Walmart, Target, and Starbucks, have warned about sluggish spending trends by households. On the flip side, the stock market has recovered from the Liberation Day lows, which has helped to support sentiment among some households. So, where is the economy headed next, given the whirlwind of factors it’s facing? Yahoo Finance Executive Editor Brian Sozzi talks on the Opening Bid podcast with Visa Chief Economist Wayne Best. Best is an economics veteran, armed with everything from insights on consumer spending from Visa (V) card swipes to the impact on the economy from the wealth effect of higher stock prices. Sozzi and Best discuss the economy’s biggest challenges and potential surprises. Yahoo Finance's Opening Bid, brings you a high-octane take on the freshest analyst calls, wildest stock moves and shrewdest commentary in the business world. Executive Editor Brian Sozzi puts Wall Street's finest through their paces in this essential conversation for every investor - before the stock market opens. Find this episode's transcripts and more episodes of Opening Bid at http://finance.yahoo.com/videos/series/opening-bid/. Thoughts? Questions? Fan mail? Email us at [e-mail]. Yahoo Finance's Opening Bid is hosted by Brian Sozzi, and produced by Langston Sessoms Learn more about your ad choices. Visit megaphone.fm/adchoices