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Originally Posted by ASAP
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I don't see a lot of things to cry about? Retail sales up .4% when .3% was expected. Economy might be good enough to not have a rate cut, not seeing this as a big negative. Economy moving along ok doesn't mean we need a rate increase and it's one month of data.
Quote:
Yields took a leg up after consumer spending figures came in hotter than forecast. Retail sales showed a rise of 0.4% in September, above the estimate of 0.3% from economists polled by Dow Jones. Excluding autos, sales increased 0.5%, also higher than the consensus expectation of 0.1%.
Weekly jobless claims, meanwhile, fell to 241,000, according to separate data released Thursday. Taken together, both data points paint a picture of a resilient economy.
“Real wage growth and underlying demand for goods and services are overshadowing negative sentiment,” said David Russell, global head of market strategy at TradeStation. “The economy continues to accelerate thanks to the U.S. consumer, and may improve further as lower fuel prices kick in. Today’s numbers make a recession look even less likely.”
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