"Optimism Has Picked Up": Retail Operators See Consumer Relief After Gas Prices Tumble

"Optimism Has Picked Up": Retail Operators See Consumer Relief After Gas Prices Tumble As soon as the national average for 87-octane gasoline at the pump dipped below the politically sensitive $4-a-gallon level early last week, we observed multiple institutional desks begin to forecast that the light at the end of the tunnel was beginning to materialize for consumers, especially working-class households that have been financially battered by surging fuel prices over the past several months. UBS analyst Mark Paski told clients about "early signs of a turn in U.S. consumer discretionary." Then,...