- Prior month 0.7% revised to 0.6
Details:
- Retail sales for April 0.0% vs 0.4% expected
- Ex-Auto MoM 0.2% vs 0.2% expected. Prior month 1.1% revised to 0.9%
- Control group -0.3% vs 0.1% expected. Prior month 1.1% revised to 1.0%
- Ex Auto and Gas -0.1% vs. 1.0% last month revised to 0.7%. 2nd weakest of the year
The consumer is easing back a bit. Are they balking at the higher prices? The NY Fed manufacturing data was also weaker.
With the behaving CPI, the US stocks are higher with teh S&P of 23.07 point. The index closed eight points short of a record closing level yesterday. The Nasdaq index building on the record close yesterday with gain of 95 points currently in premarket trading.
US yields are lower with the 2-year down -6.8 basis points. A 10-year is down -6.4 basis points.
The USD is lower in response as well.
