I can’t help but make a post on this. The front page of today’s Yahoo Finance confirms my sound reasoning for a stock market rally
STOCKS SURGE ON RETAIL SALES REPORTS (Headline at top of page)
Now here is the AP story on the same page
Stores Post Lackluster Sales in June
Stores Post Tepid Sales in June, With Shoppers Rattled by Gasoline Prices, Weak Housing Market
NEW YORK (AP) — The nation’s consumers, uninspired by this season’s fashions and rattled by high gas prices and the weak housing market, shopped gingerly last month, extending the misery of retailers who have struggled with a spending slowdown since February.
As merchants reported their June sales results Thursday, the disappointments cut across many segments of the industry including Macy’s Inc., AnnTaylor Stores Corp. and trendy apparel chain Bebe Stores Inc. One notable exception was Wal-Mart Stores Inc., whose renewed emphasis on low prices helped drive sales gains above analysts’ expectations.
“Retail sales are generally soft as we expected. Consumers look like they are holding back on discretionary purchases particularly in apparel,” said Ken Perkins, president of RetailMetrics LLC, a research company in Swampscott, Mass. He added that shoppers are “facing a long list of headwinds as they head into the rest of the summer.”
