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Retail sales show strength as wage increases supersede election anxiety

Published 11/15/2016, 09:03 AM
Retail sales show strength as wage increases supersede election anxiety
EBAY
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BARC
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AMZN
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HD
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RTH
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IYC
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IYK
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FXD
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SCC
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XRT
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VCR
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ULTA
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XLY
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RETL
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PMR
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SZK
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UGE
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UCC
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RSPD
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FDIS
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JHMC
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ELF
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  • Retail sales topped expectations in October off of broad strength across key categories. On a year-over-year comparison, retail sales were up 4.3% during the month as hiring and wage growth clearly overshadowed election fatigue.
  • Building material and garden equipment sales increased 1.1% M/M and 6.5% Y/Y. That strength was tipped off a bit earlier when Home Depot (NYSE:HD) reported.
  • Sales at health and personal care stores were up 0.8% M/M and 8.3% Y/Y. Not a bad read for Ultra Beauty (NASDAQ:ULTA) and e.l.f. Beauty (NYSE:ELF).
  • The miscellaneous store retailers and nonstore retailers categories both showed a sizzling double-digit Y/Y pace of sales. Amazon (NASDAQ:AMZN) and eBay (NASDAQ:EBAY) are included in the latter group of online sellers.
  • "The consumer is in good shape," says Barclays (LON:BARC) chief U.S. economist Michael Gapen after digesting the data.
  • Retail ETFs: XLY, XRT, VCR, RTH, RETL, IYK, FXD, IYC, FDIS, SCC, RCD, UCC, PMR, UGE, SZK, CNDF, FTXD, JHMC.

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