USA retails sales grow 0.4 pct in December

Economy Watch: Retail Sales Gain Ground in December

"With this as a starting point and tax cuts putting more money into consumers' pockets, we are confident that retailers will have a very good year ahead".

Retail trade sales last month were up 0.3% from November and rose 5.6% from December 2016, the U.S. Department of Commerce said on Friday.

Healthy spending is also a good sign for the economy this year.

"We aren't sure who gets the credit for the strongest advance in consumer spending since 2010, but it is likely tied in part to the massive tax cuts from Washington and perhaps the Fed's easy money too-low interest rate policy for this stage of the business cycle with the economy in its ninth year of expansion from the end of the recession", said Chris Rupkey, chief financial economist at MUFG Union Bank in NY, in a note to clients Friday.

Retail spending represents 35 percent of all spending in Philly, and grew 3.7 percent during the holiday season. Economists polled by Reuters had forecast retail sales increasing 0.4 percent in December. These so-called core retail sales correspond most closely with the consumer spending component of gross domestic product.

Trending Stocks in Review: Express Scripts Holding Company (ESRX), DaVita Inc
The stock of Randgold Resources Limited (NASDAQ:GOLD) earned "Outperform" rating by Macquarie Research on Friday, July 1. Parallax Volatility Advisers Lp sold 71,500 shares as Express Scripts Hldg Co (Put) ( ESRX)'s stock declined 14.09%.

Rafa Benitez says Newcastle talking with agents over transfers
Newcastle are 13th in the division ahead of this afternoon's home game against basement club Swansea City. Rafa Benitez is becoming increasingly frustrated at Newcastle United's inaction in the transfer window.

Equity Residential (EQR) Given "Hold" Rating at Robert W. Baird
Companies having a market cap of $10 billion or more are typically considered as the major players of the market. The Cheesecake Factory Incorporated (NASDAQ:CAKE) has risen 21.63% since January 12, 2017 and is uptrending.

For the week, the Dow surged up by 2 percent, while the Nasdaq and the S&P 500 jumped by 1.7 percent and 1.6 percent, respectively. The market conditions were right, retailers were doing what they know how to do, and it all worked. The number, which excludes restaurants, automobile dealers, and gasoline stations, includes $138.4 billion in online and other nonstore sales, which rose 11.5 percent over the year before.

Department store sales were also on the weak side, edging higher by just 0.1% to $58.6bn.

Consumers cut spending at department stores, with sales dropping 1.1 percent last month, while sporting goods fell.5 percent year-over year. "Consumers were ready to spend this season", Jeff Gennette, Macy's chief executive, said in a statement.

For decades, the holiday season has been a critical time for the nation's retailers, and analysts said that was particularly true in 2017. Retailers closed a record 7,000 US stores a year ago, while dozens of big-name companies, including Gymboree, RadioShack and BCBG Max Azria, filed for bankruptcy. "We think the willingness to spend and growing purchasing power seen during the holidays will be key drivers of the 2018 economy", Kleinhenz said. "Consumers are still buying but where they are buying, and how they are buying is changing and will continue to evolve as price transparency increases and e-commerce and brick-and-mortar operations of retailers continue to converge into one seamless consumer experience", he said. That momentum continued into Cyber Monday - the first day back at work for many Americans after Thanksgiving - when consumers spent a record $6.59 billion online, making it the largest Internet shopping day in history, according to data from Adobe Analytics.

Related:

  • Bills fire offensive coordinator Rick Dennison

    Bills fire offensive coordinator Rick Dennison

    The decision to part ways with Dennison also raised questions about the future of Taylor, who has one year left on his contract. Now the real work begins for general manager Brandon Beane and coach Sean McDermott.
    Lawrence O'Donnell Tears Into Ivanka Trump's 'Depraved Audacity' For #TimesUp Tweet

    Lawrence O'Donnell Tears Into Ivanka Trump's 'Depraved Audacity' For #TimesUp Tweet

    Ivanka Trump , special adviser to the US President Donald Trump , was impressed by Oprah Winfrey's speech at the Golden Globes . Actor Alyssa Milano directed Ivanka to the Time's Up legal fund that will help her father's accusers with their expenses.

    Hot Trending Stock: Adobe Systems Incorporated (ADBE)

    The stock of Adobe Systems Incorporated ( NASDAQ : ADBE ) has "Buy" rating given on Thursday, October 19 by Canaccord Genuity. Royal Bank of Canada reiterated a "buy" rating on shares of Adobe Systems in a research report on Wednesday, September 20th.
  • Boston Scientific Corporation (BSX) Issues Q1 Earnings Guidance

    The market's smooth ride upward hit a bump on Wednesday when concerns rose that a jump in interest rates could derail the ascent. Jefferies Group reiterated a "hold" rating on shares of Boston Scientific in a report on Thursday, September 7th.
    Mary J Blige honoured on Hollywood Walk of Fame

    Mary J Blige honoured on Hollywood Walk of Fame

    Blige called the 47-year-old a queen, saying "she's royal, she's majestic", and outrightly saying that she is "black excellence". DEL BARCO: During the ceremony, Blige was honored by Andre Harrell, who first signed her up to his label Uptown Records in 1989.
    Stories of the Open Era: Margaret Court, on and off the court

    Stories of the Open Era: Margaret Court, on and off the court

    King said she had once supported Court's name adorning one of the stadiums, after Rod Laver was honoured with an arena. Whether any of the hundreds of players who might be assigned matches there would refuse to compete is yet unknown.
  • Twenty-First Century Fox (NASDAQ:FOX) Stock Rating Upgraded by BidaskClub

    Kentucky Retirement Systems Insurance Trust Fund sold 4,925 shares as the company's stock rose 12.78% with the market. Both investors and stock traders are looking at technical indicators for the stocks of Twenty-First Century Fox, Inc.

    Itau Unibanco (NYSE:ITUB) Earning Somewhat Favorable Media Coverage, Report Finds

    This may include studying the balance sheet, profit and loss statements, and the overall competency of company management. Baker Avenue Asset Mgmt Lp holds 0.11% of its portfolio in Sanchez Energy Corporation (NYSE:SN) for 197,611 shares.
    LOOKING AHEAD:

    LOOKING AHEAD: "Super, Blood, Blue, Lunar Eclipse" later this month

    December 3 was the first in a series of three supermoons, and was the only one of 2017. The second full moon and the total lunar eclipse are happening on January 31.
  • United Kingdom  pledges to cut all avoidable plastic waste by 2042

    United Kingdom pledges to cut all avoidable plastic waste by 2042

    She outlined plans for a tax or charge on single use packaging and urged retailers to introduce plastic-free aisles. She also wants to support transition to cars with low to free carbon emissions by 2025.
    Moscow Calls Vancouver Meeting on Pyongyang 'Inappropriate Cold War Mindset'

    Moscow Calls Vancouver Meeting on Pyongyang 'Inappropriate Cold War Mindset'

    He also said China and Russian Federation , which have not been invited, will be briefed on the discussions after the meeting. This ministerial will enhance and strengthen all of the efforts under way.
    DiCaprio to star in Tarantino's Charles Manson movie

    DiCaprio to star in Tarantino's Charles Manson movie

    A ton of resources are being put into this project and it sounds as if it will be one of Tarantino's biggest films of his career. The deal is expected to close soon, and this will become DiCaprio's first film since he won the Oscar for The Revenant .

Comments

Latest news

Trump lawyer arranged porn star payment for her silence in October 2016
Clifford alleged that she had an encounter with Trump after they met at a July 2006 celebrity golf tournament in Lake Tahoe. In a statement provided by Cohen from Daniels, she also calls the article "absolutely false".

OK, The New Season Of "The Handmaid's Tale" Looks Terrifying
HMT showrunner Bruce Miller gushed about working with Moss, saying, "Lizzie is such an incredible partner on this with me". You can check out some additional photos from season two, courtesy of Hulu , below.

Republicans are trying to clean up Trump's "shithole" comments
And through Thursday night, Trump never denied making the comments, despite tweeting on several other topics. The remarks, Durbin said, were "vile, hate-filled and clearly racial in their content".

Belichick 'Absolutely' Plans To Coach Patriots Next Season
I don't know if [his style] is what the organization really wants. I've had a great 18 years with Tom and 22 with Robert. I kept in touch with basically everybody.

NextEra Energy Partners (NEP) Now Covered by Guggenheim
The utilities provider reported $1.85 earnings per share for the quarter, topping the Zacks' consensus estimate of $1.77 by $0.08. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock.

FDA Pulls Pediatric Indications For Opioid Cough And Cold Medicines
Experts say parents should always read labels before giving their children any medicine, even if it's purchased over the counter. FDA Commissioner Scott Gottlieb, MD, expressed concern for young children's unnecessary exposure to opioids in a statement .

Navy's Ken Niumatalolo emerges as top candidate at Arizona, report says
The dual-threat quarterback passed for 1,591 yards and 14 touchdowns and 9 interceptions in his sophomore season. Navy finished the 2017 with a 7-6 record and a 49-7 Military Bowl game victory over Virginia.

Paddington 2 Is a Fuzzy Teddybear of a Movie
Ditching the tie for the more casual event, Hugh posed alongside Melissa, Denise, and their kids as he promoted the kids film. He wants this book to send it as a gift to his Anglophile Aunt Lucy in Peru for her 100th birthday.

Paige's In-Ring Career Is Over
FCW would eventually transform into today's NXT brand, and Paige would become a huge star with the NXT crowd in short order. Despite the possibility of Paige not being able to wrestle ever again, this does not mean she will leave the WWE forever.

'Breakthrough' agreement reached on German coalition talks
The agreement calls for parliament to pass a law by the end of July allowing 1,000 family members per month to come to Germany . If there now has to be a new election , her position as the unassailable, undisputed leader of Germany , will be precarious.

China warns of U.S. protectionism after Huawei setback
TechCrunch contacted ZTE and Huawei for comment but we had not heard back from either company at the time of writing. It looks that more and more Android phones could become available to purchase at the US Microsoft Store this year.

Wal-Mart Plans to Cut More Than 1000 Corporate Jobs
Heading into the stock price potential, Wal-Mart Stores, Inc. needs to grow just 3.5% to cross its median price target of $103.52. Goldcorp Inc. (GG ) in the last quarter reported its actual EPS of $0.09/share where the analyst estimated EPS was $0.11/share.

Bella Hadid is Now Dating Kendall Jenner's Ex, Jordan Clarkson
"All this stuff that kids go through", Yolanda revealed to Us Weekly on January 11. I'm very blessed to have found a beautiful love.

Myanmar Prosecution of Journalists Spurs International Pressure
Japanese Foreign Minister Taro Kono pledged continued support for Myanmar's democratization and Daw Aung San Suu Kyi's government. Two police officers arrested with Wa Lone and Kyaw Soe Oo have not yet appeared in court and their whereabouts are unknown.

French supermarkets admit to selling salmonella contaminated Lactalis products after recall
It was only in December, after around 30 infants fed Lactalis milk had fallen ill, that the health ministry sounded the alarm. Le Maire fired harsh criticism against Lactalis before the press conference, calling it a "failing company".

Other news