Disappointing Day For The US

Hello friends

Good morning, good afternoon and good evening

Today was a pretty full day in regards to news, especially for the US

Today we saw figure for Core Retails Sales, PPI m/m and Retails Sales m/m all coming in with a disappointment.

Core Retails which includes everything at a retail level excluding automobiles and gas. For those wondering why there are to figure for the exact same sector. Well it is thought that automobiles says account for about only 20% of consumer spending.

Automobiles are also considered a high end item and every volatile along with gas, and doesn’t really reflect the trends in consumer spending.

For this reason cars are reported separately in the Retails Sales figures.

Since Core Retails Sales is a very important figure traders and investors looks to these numbers to gauge investment and trading directions.

We all know the more consumers are spending the more confidence they have in job force, which when you have confidence in jobs you spend more and save less, and the more you spend the better it is for the economy.

Well figures today were not that impressing, in fact both Retail and Core Retail Sales came in less than estimated, confirming rumors that the US economy could be slowing down.

As a result this morning we saw a decline in Commodities, Stocks, Indices and Currency.

Bloomberg Stats:

“The Standard & Poor’s 500 Index fell 0.3 percent to 1,320.02 at 10:10 a.m. in New York. Treasuries rose, pushing the yield on the 10-year note down to 1.65 percent from 1.67 percent late yesterday.”

Check out the video from Bloomberg.com reporting on this morning Retail results.

That is all for now

Until next time

Vladimir