November retail sales top Wall Street's expectations

Published On Dec 17, 2024, 8:34 AM

November retail sales in the U.S. increased by 0.7%, surpassing Wall Street's expectations of a 0.6% rise. This growth signifies consumer resilience and a positive start to the holiday shopping season. Retail sales for October were also revised upward to a 0.5% increase. However, excluding auto and gas, sales rose only 0.2%, missing the forecast of 0.4%. Investors are particularly focused on these figures as they provide insights into the economy's health, especially before the Fed's anticipated interest rate cuts. Recent economic data has exceeded expectations, indicating stability in the U.S. economy and influencing market outlooks on Federal Reserve policy.

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Stock Forecasts

AI prediction results, not representative of any investment advice.

XRT View XRT chart on TradingView

Positive

The positive retail sales data indicates sustained consumer spending, which is a strong sign for the economy. As the holiday shopping season progresses, consumer confidence is likely to boost market performance, particularly in retail and consumer-focused sectors.

SPY View SPY chart on TradingView

Neutral

While the control group data aligns with expectations, the lower-than-expected rise in retail sales excluding autos and gas suggests cautious consumer behavior. This might temper enthusiasm about retail sector stocks in the short term.

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