According to singer/songwriter Jack Johnson, "Cupid only misses sometimes," and according to the analysts and exchange traded fund (ETF) enthusiasts, "Cupid’s costs are expected to rise in 2008." Hmmm. I think the other way was better.
The National Retail Federation (NRF) reports that the average consumer is set to spend $122.98, up from $119.67 last year, reports David Goldman for CNN Money.
NRF is calling for nine out of 10 lovebirds to spend the most on significant others or spouses, of the 61% of consumers that will actually celebrate this day. Whether it’s candy, jewelry or a night on the town, retail and leisure ETFs could be set for a rally.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.