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Tidbits, Economy, Milton Damage, Trade Deficit, Broilers & Ethanol 10/18/24

Highlights


U.S. retail sales rose 0.4% last month after a 0.1% gain in August, the Census Bureau reported yesterday. The market expected a gain of 0.3%.

 

Applications for unemployment benefits dropped 19,000 last week to a seasonally adjusted 241,000 for the week ended October 12. Economists expected it unchanged.

 

Those two better than expected numbers reduced the probability of a half percent point (50 basis points) interest rate cut in November to near zero, but the market still expects a 25 basis points cut.

 

Today’s trade will be dominated initially by Japanese inflation, Malaysian GDP, and the main event, Chinese GDP.

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