Market Mover Monday: October Retail Sales – ex-autos up 0.2% (forecast was up 0.4%)

wall_st_bear_smallOctober retail sales up 1.4% , ex-autos up 0.2% (Steve Liesman noting worst consumer recession since 1970 welcome to reality there Steve!)

Also September revised DOWN to Down 2.3% vs original report of down 1.5%

Empire State Manufacturing Index also collapsing so anyone who looked at October’s 34.57 needs to rethink, November comes in at 23.51.

Dollar dropping, now tell me how the averages can continue to rise off the weak dollar when it is CLEAR the US consumer is still flat on their back and that is BEFORE the inevitable tax increases….the only decoupled thing here is the markets decoupled from reality…

November 16, 2009. Tags: , , , , , , , , . Economy, Finance, Wall St. Comments off.

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