Hello traders everywhere! Jeremy Lutz with your mid-day market update for Monday, the 15th of October.
Stocks move higher today after a strong gain in retail spending suggested that consumers could be getting more confident about the economy. The Commerce Department said retail sales rose 1.1 percent last month after a 1.2 percent increase in August. Those are the largest gains since October 2010.
The price of oil is falling today and giving back the gains from last week. The focus instead is on weaker oil demand. On Friday, the International Energy Agency issued a new report predicting slower growth in demand for oil over the next five years. The agency also forecast that supplies will increase as the global economy struggles to grow.
Now, let's analyze the major markets and stocks on the move using MarketClub's Trade Triangle Technology.
...and retail spending has gone up also. Just imagine how positive the economic reports are going to be by the week before election day.