Fundamentals Positive but…
ICSC-Goldman Store Sales (week ended 10/4/2014)
– Store Sales week/week +0.1%. Previous was -0.2%
– Store Sales year/year +3.9%. Previous was +3.6%
Redbook Store Sales (week ended 10/4/2014)
– Store Sales year/year +5.4%. Previous was +4.3%
JOLTS (August 2014)
– Job Openings 4,835,000. Previous was 4,673,000.
This indicates strengthening in the Jobs market.
These positive fundamentals were overwritten by concerns about GDP’s in the EU – a problem not likely to go away soon.