Disappointing data on May’s US retail sales gave markets a nasty shock on Friday.
Flashes via Reuters:
RTRS-US MAY RETAIL SALES -1.2 PCT (CONSENSUS +0.2 PCT) VS APRIL +0.6 PCT (PREV +o.4 PCT)
RTRS-US MAY RETAIL SALES EX-AUTOS -1.1 PCT (CONS +0.1 PCT) VS APRIL +0.6 PCT (PREV +0.4 PCT)
RTRS-US MAY RETAIL SALES EX-GASOLINE -1.0 PCT VS APRIL +0.6 PCT
RTRS-US MAY RETAIL SALES EX-AUTOS LARGEST DECLINE SINCE MARCH 2009 (-1.2 PCT)
And the market reaction:
RTRS-EUROPE’S FTSEUROFIRST TURNS NEGATIVE, DOWN 0.1 PCT AT 1,012.85 AFTER US RETAIL SALES
RTRS-EURO SURRENDERS GAINS VERSUS DOLLAR ON US RETAIL SALES DATA
RTRS-U.S. TREASURIES ADD TO GAIN AFTER RETAIL SALES DATA
Britain’s FTSE 100 was just about clinging to the green at pixel time. US stock futures were negative.
Adding this data to the most recent US non-farm payrolls release, the recovery is looking rather pale indeed at the moment.