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Retail Sales Blow Away Numbers For Sep, Industrial Production Not So Much…Consumer Optimistic

Image by Hein.Mück

Core retail sales rose the greatest amount ever in the previous month as reported this morning. The development most likely energized by government handouts. Markets are in the green on the news.

Industrial Production missed but Consumer Sentiment continued to rise. Overall, a mixed bag of data as the economy works to recover.

Additionally, Boeing received the ok from European regulators to resume flying the 737 MAX, it’s former best-seller. The next catalyst for the stock could be an approval for a Chinese coronavirus vaccine in the U.S. in November.

Retail Sales ex-Autos (MoM) (Sep) printed at 1.5% vs 0.5% consensus estimate.

Retail Sales Control Group (Sep) printed at 1.4% vs 0.2% estimate.

Retail Sales (MoM) (Sep) printed at 1.9% vs 0.7% estimate.

Industrial Production (MoM) (Sep) printed at -0.6 vs 0.5 estimate.

Capacity Utilization (Sep) printed at 71.5% vs 71.9% estimate.

Michigan Consumer Sentiment Index (Oct) PREL printed at 81.2 vs 80.5 estimate.

Business Inventories (Aug) printed at 0.1% vs 0.4% estimate.

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