Auto sales were down 2.2% in September due to fewer selling weekends and low inventory on some popular models. Outside of automobiles, retail sales were up 0.4%; factoring in the auto slump, they were down 0.1%. The consumer confidence shock caused by the government shutdown does not appear to have affected September sales figures.
Do you think October’s sales figures could also surprise us? Will it be a good surprise or a nasty one? Express yourself below.
A combination of estimate-beating earnings and expectations that the Federal Reserve will decide in its meeting this week to continue its stimulus led stocks to rise, pushing the S&P 500 to its third record high in as many sessions.
Jim Woods has over 20 years of experience in the markets from working as a stockbroker,
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Hilary Kramer is an investment analyst and portfolio manager with 30 years of experience on Wall Street. Since 2010, Hilary's financial publications have provided stock analysis and investment advice to her subscribers: