Headline Retail Sales Fall 16.4 Percent: Worst Drops On Record

0
Headline Retail Sales Fall 16.4 Percent: Worst Drops On Record
ed_davad / Pixabay

The major indices are all trading lower at midday following yet another hectic morning session. Traders mulled a mixed bag of economic reports, the continued escalation between the U.S. and China, and the positive COVID-related news flow, and while bulls once again staged an impressive comeback following a bearish open, volatility remains very high. on Wall Street. The Trump administration turned its attention to Chinese tech giant Huawei again, threatening to cut the firm off of some of its key suppliers, and the Asian giant is reportedly looking into countermeasures against the likes of Apple (AAPL, -2%) and Boeing (BA,-2.6%). As for the economy, the retail sales report was at the center of attention today, and both headline retail sales and the less volatile core sales missed expectations by a wide margin, falling by 16.4% and 17.2% respectively, representing the worst drops on record.

Get The Full Series in PDF

Get the entire 10-part series on Charlie Munger in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues.