Retail sales soar past Wall Street estimates in July
Thursday's retail sales report comes as markets are increasingly focused on data amid growing concerns about the health of the US economy.
Thursday's retail sales report comes as markets are increasingly focused on data amid growing concerns about the health of the US economy.
The number of Americans applying for unemployment benefits fell last week, another sign that the job market remains resilient in the face of high interest rates. Jobless claims dropped by 7,000 to 227,000 last week, the Labor Department reported Thursday. Weekly filings for unemployment benefits, which are a proxy for layoffs, remain low by historic standards.
Walmart had another quarter of strong sales that topped almost all expectations with its comparatively low prices proving a powerful draw for millions who have struggled with rising costs for housing, groceries and almost everything else. Walmart Inc. reported earnings of $4.5 billion, or 56 cents per share, in the three months ended July 31. Adjusted per share earnings were 67 cents, or 2 cents better than Wall Street had expected, according to FactSet.
The latest inflation reading gives the Fed freedom to act, but that doesn't mean they know what to do.
UK growth has been trending in the right direction even before the Bank of England voted to lower rates earlier this month. GBP/USD partially recovers from the July selloff
