Consumer spending makes up a huge fraction of the overall economy. Investors are therefore always looking at consumers to try to gauge whether their financial condition remains healthy. That's a big part of why the stock market saw a bear market in 2022, as some feared that a consumer-led recession would result in much weaker business performance across the sector.

However, that much-anticipated recession hasn't happened yet, and there's still plenty of uncertainty about the future direction of consumer-facing stocks. A pair of earnings reports early Wednesday didn't do much to resolve the debate, as household products giant Procter Gamble (NYSE: PG) saw its stock rise even as recreational vehicle manufacturer Winnebago Industries (NYSE: WGO) declined.

Shares of Procter Gamble rose about 1.5% in premarket trading on Wednesday morning. The consumer products giant reported fiscal first-quarter financial results for the period ended Sept. 30 that demonstrated the power of its brand to generate sales even under difficult conditions.

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Source Fool.com