Goldman Sachs
May 20, 2026
Consumer Morning Trading Update
Daily UpdateEquitiesRates Govt BondsCommoditiesConsumer DiscretionaryConsumer Staples
Goldman Sachs reports US consumer stocks are trading higher pre-market following earnings beats from CAVA, VFC, and Target, while broader markets wait for NVDA results.
Key Takeaways
- 1.The market is in a holding pattern with US equity futures slightly higher ahead of highly anticipated NVDA earnings.
- 2.Earnings in the consumer sector are showing strength, with notable beats and positive guides from CAVA, VFC, and Target.
- 3.Housing market results are bifurcated, with Toll Brothers benefiting from high-income consumer resilience while Lowe's remains under pressure.
Table of Contents
- Retail/Toys
- Restaurants
- Housing
- Travel
- Street Actions
- Prime
- GS Research
- Calendar Ahead
- Performance
- Notice to Australian Investors
- Additional Disclaimers
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Authors
Eric MihelcPeter MartelScott Feiler
Securities
CAVAVFCTGTNVDATOLLOW
Themes
High-Income Consumer ResilienceConsumer Earnings Seasonality & CatalystsHedge Fund Positioning Trends
Regions
North AmericaEuropeAsia PacificUnited StatesUnited KingdomChina