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Dow, S&P 500 notch new highs despite disappointing economic data

Dow, S&P 500 notch new highs despite disappointing economic data - latimes.com The stock trading game barreled in order to new highs anyway.
The nation's two closely watched stock barometers -- your Dow Jones industrial average and also standard & Poor's 500 index -- hit new all-time highs Tuesday. Investors shrugged off disappointing economic data before the break purchasing season. The Dow jumped 111.42 points, or even 0.7%, to 15,680.35. The Particular S&P 500 climbed 9.84 points, as well as 0.6%, to be able to 1,771.95. This ended up being the 32nd record substantial for that Dow this coming year as well as the 33rd for that S&P 500.
Stocks have got climbed steadily higher lately despite unremarkable economic data, which includes tepid occupation growth last month. Dermefface FX7 That features stirred concern that buoyant discuss rates have got grown unmoored from economic reality.
The S&P has jumped greater than 24% this year, its very best showing in a decade, and additionally the Dow offers risen 19.7%. Your Nasdaq composite index expires 31%. Your Russell 2000 small-cap index has bolted 32%.
Many investors appear being pinning their particular hopes less around the fate in the economy when compared with on the chances of the actual Federal Reserve sustaining its economic stimulus efforts straight into subsequent year. Weak economic data boost the odds that the central bank will follow its easy-money policies.
"The merely scenario which could upset the particular Fed is the perception associated with this froth turning into a bubble," stated Jack Ablin, chief investment officer involving BMO Private Bank inside Chicago. "They're hoping to help the actual economy, and what they've succeeded inside carrying out so way can be help stockholders as well as homeowners."
Gary Flam, portfolio manager in Bel Air Investment Advisors throughout Los Angeles, believes increasing companies are forcing the Fed to be able to confront fears that will it's inflating reveal prices.
"The market's not really getting driven by economic cycles," Flam said. "It's becoming driven through politics and also economic bankers."
Consumer confidence fell for you to its lowest degree inside 6 months, the actual Conference Board said Tuesday. The idea had been the greatest decline since August 2011, along with reflected the jitters caused through the government shutdown.
Also, an index involving producer costs dropped 0.1% last month, pointing in order to reduced inflation but additionally subdued consumer demand.
Home rates in the nation's largest metro regions rose sharply within August, but the data tend to be nearly 2 months old.
Retailers stood a shaky September, as lukewarm back-to-school shopping along along with a plunge throughout auto purchases caused revenue for you to slide through August, according for the government.
Retail revenue last month amounted to end up being able to $425.9 billion, down 0.1% via August, the actual U.S. Census Bureau said. but when stripped of the effects of motor vehicle and also parts sales, that fell 2.2%, your gauge ended up being up 0.4%.
Lackluster retail store revenue tend to be raising concerns about the holiday purchasing period, which usually may are the cause of up to 40% regarding annual sales for a quantity of companies.
This year, the summer season will be limited to four weekends via Thanksgiving for you to Christmas, down from 5 final year.
Retailers must an solution to shoppers like Courtney DeMolay.
The 19-year-old from Fontana functions 2 fast-food work and it is about the lookout for discounts.
But she's not necessarily cowed by the sluggish economy along with wasn't rattled by the government shutdown.
"Everyone's scared because we stood a small bump within the road. Nevertheless it actually wasn't a big deal," the girl said.
In September the girl invested with regards to $50 upon clothing. Because the elements has grown colder this month she's invested nearly $300 about long pants, beanies, boots, pea coats as well as bags.
She plans to spend $1,000 around the youngsters in her own family regarding Christmas, greater than the actual $800 your woman shelled out last year, when your woman was lacking stable employment.
walter.hamilton@latimes.com
tiffany.hsu@latimes.com http://www.latimes.com/business/la-fi-retail-sales-economy-20131030,0,1178622.story

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