To the US mkts.
Retail Sales soared in August... thanks to massive historical revisions and a surge in Auto sales... but Auto production crashed by the most since COVID lockdowns (lowering GDP expectations)... and homebuilder sentiment slumped... and the Philly Fed business outlook plunged... and the Empire Fed Manufacturing survey remains in contraction for the 9th straight month... and import and export price inflation was hotter than expected... all of which sent the macro surprise index down to 2024 lows...
...but all the algos cared about was the "beat" inretail sales confirming that the 'soft landing' narrative is back (except it'snot).
To the US mkts.Retail Sales soared in August... thanks to...
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| XJO (ASX) Chart |