ConsumerCNBC
Card-spending data shows Q2 services consumption holding up despite delinquency uptick.
1 min readAnalysis by AlgoThesis Editorial Desk
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Price since this story
Equal-weight basket · first close after publication
May 26, 2026Aug 14, 2026
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The story
Major issuers reported softer revolving-credit balances but flat-to-up discretionary services spend in April. Travel/leisure outperformed; durables continued to lag.
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The two-sided take
Angle
The bifurcation is real — consumer is fine in services, fragile in goods. Long travel/leisure baskets vs short discount-retail pair has worked all year; trim, don't add.
JPM · 3-month returnJPM · 3M+20.8%