Core U.S. retail sales higher than forecast in July: U.S. economy still standing strong
The index was 0.4%, while analysts predicted a 0.1% decline.
The core retail sales index does not include automobiles. Today's numbers show that U.S. consumers are feeling confident. Demand in the economy remains strong despite record inflation.
This is a negative for the stock market as the Fed has nothing to restrain further rate hikes. The Fed's main concern: fighting inflation. All the talk of a Fed policy turnaround is exaggerated.