The State Of The Consumer With Piper Sandler’s Peter Keith

Consumer spending has been far more resilient than many investors expected, but the story isn't as simple as strong or weak. Peter Keith joins the podcast to explain why today's consumer is increasingly selective, how the K-shaped economy may finally be narrowing, and why certain retail categories are showing surprising strength despite ongoing housing weakness. We discuss what investors are hearing about oil prices, interest rates, the Middle East, and Federal Reserve policy, along with why many consumer-focused investors are becoming more optimistic for the second half of the year. Peter also shares where he's finding the biggest opportunities, including furniture, home-related products, and lower-income retail, while explaining why housing remains stuck waiting for lower mortgage rates. Finally, we preview earnings season, discuss the impact of tariff refunds and AI initiatives, and highlight the companies that could deliver the biggest surprises over the coming quarters.