October IP = -0.2%

One negative report this morning came from the Federal Reserve. Industrial production for October dropped by 0.2%. Wall Street had been expecting an increase of 0.1%. On the plus side, the numbers for August and September were revised higher.

The stock market is largely unchanged today. We’re seeing some strength in homebuilding-related areas. Home Deport and Lowe’s, for example, are solid gainers today. Walmart is also up. The giant retailer beat estimates by five cents per share.

Interestingly, the Walmart earnings report might as well be a quarterly government report on consumer spending and inflation.

Posted by on November 17th, 2015 at 11:09 am


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