The Morning View: November 15, 2018

  • November 15, 2018

BY: MARSHALL BARTLETT
Senior Vice President / Portfolio Manager
(615) 591-0611   mbartlett@argenttrust.com

Announced this morning, headline Retail Sales for October grew a healthy 0.8%, above forecasts. The increase was driven by sales of autos, fuel, and building materials. However, the control group, which removes sales from food services, auto dealers, building materials, and gas stations, only grew 0.3% for October, lower than forecasts. The robust headline number gives support for a strong upcoming holiday shopping season, but the lower control group figure hints at weaker economic growth. Meanwhile announced yesterday, the core Consumer Price Index rose 2.1% on an annual basis, moving slightly back toward the stated Federal Reserve target of 2%. Following this morning’s report, bond yields fell slightly and equity futures are mixed heading into the market open.

This information has been prepared by Argent Trust to highlight issues which may be of interest to the recipient and is not intended as legal, investment or tax advice. You are urged to seek legal, tax and accounting counsel for your particular situation before acting on topics discussed here. At Argent Trust, we assist our clients in managing and enhancing their wealth. Please call us at 615.591.0044 with questions or to schedule a meeting. © 2018 Argent Financial.