I haven't been to Costco for a few weeks, but I would be willing to bet that sales are likely up significantly when they are reported tonight. The times that I have been there lately, the stores only seem to get busier and busier.
With the huge migration to passive investment, much less analysis is going on in the equities markets. After all, passive investment only buys a basket of stocks to replicate the index. Passive investment managers don't analyze stock fundamentals.
