May Retail Sales: -1.2% vs. +0.2% expected, +0.6% (revised from +0.4%) in April. Ex-auto -1.1%...

May Retail Sales: -1.2% vs. +0.2% expected, +0.6% (revised from +0.4%) in April. Ex-auto -1.1% vs. -0.1% expected, +0.4% prior.
Comments (14)
  • MarketGuy
    , contributor
    Comments (3983) | Send Message
    Hope you enjoyed the "flash pump". Now back to your regular scheduled "reality".
    11 Jun 2010, 08:35 AM Reply Like
  • Ryu Mei Co
    , contributor
    Comments (222) | Send Message
    wow....... thats all I can say.... this is a dropper.
    11 Jun 2010, 08:36 AM Reply Like
  • oldmaninPA
    , contributor
    Comments (41) | Send Message
    wtf? where did they survey? It took me almost 20 min to get a parking spot last weekend in cherry hill, NJ mall and it was packed as all h***.
    11 Jun 2010, 08:37 AM Reply Like
  • vtorch
    , contributor
    Comments (314) | Send Message
    The key declines were in building materials and garden equipment, as well as gasoline stations.
    11 Jun 2010, 09:05 AM Reply Like
  • jpiretti
    , contributor
    Comments (705) | Send Message
    Exactly! If you take out gasoline and building materials, sales rose .1%, thus the headline prints look messy but looking under the hood it’s not as bad as it seems. I suspect as the underlining metrics make their way through the trading desks, you will get at minimum stabilization. If you short SPX minis, better cover by 10:30.
    11 Jun 2010, 09:36 AM Reply Like
  • bbro
    , contributor
    Comments (11216) | Send Message
    Ouch...retail sales ex gas a disappointment....guess the savings rate
    went up....
    11 Jun 2010, 08:54 AM Reply Like
  • Angel Martin
    , contributor
    Comments (1370) | Send Message
    Ouch! I was expecting a poor number based on the weekly retail and also the weak employment and imports.. but Ouch!


    I still say the economic recovery story is intact. May has been a slow month for several indicators: employment, imports, retail, but I think it is like June 2009 where several indicators took a similar one month dip.


    for a more optimistic indicator look at


    I'm sure we have more downside here, I've been looking for a LTCM type bottom for a week or two now, this number makes it more likely.


    Another bad number like this next week should push the S&P below 1000 (bargains galore!)
    11 Jun 2010, 08:55 AM Reply Like
  • MarketGuy
    , contributor
    Comments (3983) | Send Message
    "I still say the economic recovery story is intact."


    Would that be Bernanke's "story"?
    11 Jun 2010, 09:50 AM Reply Like
  • Tack
    , contributor
    Comments (16262) | Send Message


    The recent market action, especially yesterday's and the rebound from this morning's lows, even with the retail headline, suggests that the bottom is in for the recent swoon, and we resume trading in the range-bound level between 1057-1103.


    We just gave a severe test to 1057 and it has held firm, so I next look for an upside test of resistance at 1103. In any case, keep an eye on both signposts.
    11 Jun 2010, 12:08 PM Reply Like
  • Angel Martin
    , contributor
    Comments (1370) | Send Message
    Tack: you may well be right, the market withstood a really bad retail number.


    But I still think there is some downside when looking at relative options prices (put vs call). There is just a lot of pessimism out there.
    11 Jun 2010, 12:15 PM Reply Like
  • Tack
    , contributor
    Comments (16262) | Send Message


    Lopsided put/call ratios are usually a bullish, not bearish, sign, especially when they exist after a significant decline, as we've experienced.
    11 Jun 2010, 12:40 PM Reply Like
  • Papaswamp
    , contributor
    Comments (2241) | Send Message
    +10 Million on ext/EUC employment and 40.1 Million on food stamps.. bank repos rising, CRE defaults at record levels....eventually something has to give.
    11 Jun 2010, 09:14 AM Reply Like
  • positivethoughts
    , contributor
    Comments (2064) | Send Message
    I think the word unexpected(ly) should go to the hall of fame for how many times it has come in handy to describe dissapointing economic numbers throughout this current downturn.


    It brings a smile to my face every time I read it. No matter how obvious it is to those that understand macroeconomics, there seems to be an insistence from journalists and other market watchers that report business news that everything negative is unexpected.


    My question is: Isn't there some point following a string of bad news, that bad news itself becomes expected and good news, conversely, would warrant suprise?
    11 Jun 2010, 09:34 AM Reply Like
  • Denis Ouellet, CFA
    , contributor
    Comments (72) | Send Message
    US retail sales declined 1.2% In May from April, after 8 months of uninterrupted growth totaling 8.5% annualized. The damage was mainly in auto and housing related sales.


    Motor vehicle sales declined 1.7% while gas station sales dropped 3.3% on a 6.3% decline in prices.
    Total sales ex cars, gas and food stores retreated 1.0%, led by building material stores where sales dived 9.4%.


    Department Store Type Merchandise retailers were flat.


    Online retailers continued to gain share as their sales rose 2.0%.


    See charts at
    11 Jun 2010, 09:46 AM Reply Like
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