⚠️SUMMARY OF US SEPTEMBER RETAIL SALES REPORT:
1. U.S. retail sales rose 0.7% on the month, more than double expectations for a 0.3% gain.
2. August retail sales were revised up to a 0.8% increase from a previously reported 0.6% rise.
3. After stripping out the auto and gas categories, core retail sales rose 0.6%, blowing past expectations for +0.2%.
4. Core retail sales for August were upwardly revised to 0.9% from 0.6%.
5. Despite higher gasoline and energy prices, the U.S. consumer remains resilient.
2. August retail sales were revised up to a 0.8% increase from a previously reported 0.6% rise.
3. After stripping out the auto and gas categories, core retail sales rose 0.6%, blowing past expectations for +0.2%.
4. Core retail sales for August were upwardly revised to 0.9% from 0.6%.
5. Despite higher gasoline and energy prices, the U.S. consumer remains resilient.
Strong consumer spending is bad news for the Federal Reserve and adds to the case that the Fed might have to raise interest rates one more time before the end of 2023. $SPDR S&P 500 ETF(SPY.US$ $Invesco QQQ Trust(QQQ.US$ $S&P 500 Index(.SPX.US$ $Dow Jones Industrial Average(.DJI.US$ $Nasdaq Composite Index(.IXIC.US$
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