BY: MARSHALL BARTLETT
Senior Vice President / Portfolio Manager
(615) 591-0611 mbartlett@argenttrust.com
Announced this morning, Retail Sales for the month of July increased 0.5%, more than forecasts. The increase was driven by clothing, food and beverage, as well as online shopping. Sales of sporting goods and furniture declined. The data suggests consumers are continuing to spend in the first month of the third quarter, which could lead to continued strength in the economy as consumer spending is approximately 70% of GDP. Given this activity, hopefully inflation can remain in control in the months ahead. In all, equity futures are lower this morning heading into the market open as investors continue to digest the news on how Turkey is addressing weakness in their currency.
This information has been prepared by Argent Trust to highlight issues which may be of interest to the recipient and is not intended as legal, investment or tax advice. You are urged to seek legal, tax and accounting counsel for your particular situation before acting on topics discussed here. At Argent Trust, we assist our clients in managing and enhancing their wealth. Please call us at 615.591.0044 with questions or to schedule a meeting. © 2018 Argent Financial.
