More Economic Strength Sent Stocks Lower All Week​

Published Friday, October 20, 2023 at: 8:27 PM EDT

Retail sales, housing starts, and initial unemployment claims all came in stronger than expected this past week, indicating the U.S. economic expansion is strengthening, which sent bond yields higher and stock prices lower.  Key U.S. economic data for the week ended October 20, 2023:  Census Bureau’s retail sales figures for September reported on Tuesday, Oct 17, came in 0.7% higher than in August -- more than twice the 0.3% growth expected by Wall Street. American consumers, who account for 70% of U.S. growth, are continuing to spend on cars, dining out, and entertainment despite higher lending rates on debt.  Housing starts, reported the...

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This article was written by a veteran financial journalist based on data compiled and analyzed by independent economist, Fritz Meyer. While these are sources we believe to be reliable, the information is not intended to be used as financial advice without consulting a professional about your personal situation.

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