Today – Wednesday November 20th, 2013
- U.S. stocks rose earlier as October Retail sales report was released, the increase in retail sales during October suggests consumer spending was resilient even during the government shutdown. The 0.4 percent gain was the most in three months and followed no change in September. Which brought confidence into the market and caused the market to rise in the morning.
- Later in the afternoon U.S. stocks declined after Federal Reserve Committee announced that the central bank will reduce economic stimulus in the coming months due to positive economic data, which shows that the economy is expanding and is strong enough to stand on it’s own two feet. Which caused panic and uncertainty among investors and caused investors to retreat which caused the market to decline.
Categories: Capital Markets