Listen: Oppenheimer, Developer And Two Percent discussed on Best Stocks Now
"W, E, A K one is the retail sales report. We had fairly weak retail sales in April. And that's a bit of a surprise April core retail sales disappoint. We were just slightly negative zero point two percent with the minus sign in front of it versus a zero point two percent to the plus side consensus. So we miss the estimate by zero point four percent. You know, those numbers kind of average out, though, over time, we had a very strong March retail report, so I wouldn't pay too much attention to the weakness in April. Consumer spending. Hey look, they're using one of my terms here today. They're calling consumer spending in April soggy. Well, that's a term I use for stodgy old grope giants of yesterday soggy. Stocks plenty of those developer fishermen walk in the door with squeaky sneakers, maybe he has been out digging, clams, or, or, or, or breaking off hoist or clusters. You walk in the attract mud all over the carpet, your shoes or soggy, your squeaking as you walk. But if you got a bucket of clams, it was all worth it wasn't it? Well, retail sales are seeing the spending was soggy in April. Where was the biggest soggy nece occurring? You know, I don't really see anything personal care look pretty good restaurants. Look pretty good. General merchandise. Look pretty good. Maybe it was auto sales. I don't know. Maybe it was the high ticket items. We also had a an industrial production report. That was. A little bit lower than expected. In fact, it went negative. It went to negative zero point five change from year from the same month last year. It went to one zero nine point two. We were expecting a little bit more than that. We missed it by about seven tenths of one or five tenths of five basis points. Call it. And that was an unexpected decline in industrial production in April. So the market is a weighing machine, and it is weighing all of that in today. Despite the soggy retail report, and the, the slight drop in industrial production. I see that Oppenheimer is positive on the home improvement retailers. Now, I own both of them"