Today – Thursday December 12th, 2013
- U.S. stocks declined due to positive economic data, as November retail sales beat expectations up 0.7%, when economists expected it to increase by 0.6%. Due to this positive economic data it raised more concern that the Federal Reserve might start slowing down its stimulus program soon when they meet next week, December 17-18.
- More insight on November retail sales, according to LA TIMES “The month-to-month rise — the largest in five months — was strongly influenced by a 18% surge in sales at auto and parts retailers. Stripping out the category brings the overall retail sales gauge up 0.4% last month – slower growth than October’s 0.5% bump.” Which shows that more consumers were spending, since consumer spending accounts for 70% of the economy.
- Markets are slowly preparing itself for a possible cutback on the stimulus program next week.
Categories: Capital Markets