October 10, 2017
The day's economic news is soft as the small business optimism index, pulled down by sales expectations, posted its weakest reading of the year while Redbook reported slowing in retail sales. A major jump is expected in Friday's retail sales report though, outside of a one-time spike in autos and price-related gains for gas stations, underlying sales are expected to be moderate.
Stocks posted solid gains with the Dow up 0.3 percent to a new record at 22,830. News that Catalonia is not seeking immediate independence but is interested in talks with Spain gave a boost to the euro, which ended at $1.1815 for a 0.6 percent gain, and in turn pulled down the dollar index which fell 0.5 percent to 93.23. Oil bounced back over $50 with a more than $1 gain to $50.90.