{"id":213914,"date":"2024-10-17T11:00:00","date_gmt":"2024-10-17T15:00:00","guid":{"rendered":"https:\/\/ibkrcampus.com\/campus\/?p=213914"},"modified":"2024-10-18T11:52:53","modified_gmt":"2024-10-18T15:52:53","slug":"september-retail-sales-exceed-estimates-jobless-claims-fall-more-than-expected","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/september-retail-sales-exceed-estimates-jobless-claims-fall-more-than-expected\/","title":{"rendered":"September Retail Sales Exceed Estimates, Jobless Claims Fall More Than Expected"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\" id=\"h-zinger-key-points\">ZINGER KEY POINTS<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>September retail sales beat expectations, rising 0.4% month-over-month, surpassing the 0.3% forecast and August&#8217;s 0.1% growth.<\/li>\n\n\n\n<li>Semiconductor stocks led market gains, with TSMC surging 9% on strong earnings, boosting futures for both the S&amp;P 500 and Nasdaq 100.<\/li>\n<\/ul>\n\n\n\n<p>Simultaneously, the latest labor market data saw a decline in jobless claims rose during the week ending Oct. 12.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">September Retail Sales Report: Key Highlights<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Retail sales increased by 0.4% in September from the previous month, surpassing both the 0.3% economist consensus, as per TradingEconomics, and the 0.1% growth in August.<\/li>\n\n\n\n<li>On a year-over-year basis, retail sales decelerated, down to 1.7% compared to 2.2% in August.<\/li>\n\n\n\n<li>Excluding motor vehicles and parts, retail sales grew 0.5% month-over-month, exceeding the forecasted 0.1% increase and the upwardly revised 0.2% growth in August.<\/li>\n\n\n\n<li>Stripping out gasoline, motor vehicles, and parts, sales climbed by a robust 0.7% in September, a sharp improvement from the upwardly revised 0.3% gain in August.<\/li>\n\n\n\n<li>Among spending categories, the largest monthly gains were recorded in miscellaneous store retailers, up 4%, and clothing &amp; clothing accessories stores, up 1.5%.<\/li>\n\n\n\n<li>Conversely, gasoline station, electronics and appliance stores experienced the steepest monthly decline, with sales dropping by 1.6% and 3.3%, respectively.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Weekly Unemployment Claims: Key Highlights<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Initial jobless claims came in at 241,000, coming in below a consensus estimate of 260,000 claims, per TradingEconomics, and the prior week\u2019s upwardly revised 260,000 figure.<\/li>\n\n\n\n<li>The four-week average of claims rose from 231,500 to 236,250.<\/li>\n\n\n\n<li>Continuing claims, reflecting those still receiving benefits after an initial week of aid, rose slightly to 1.867 million, remaining above the 1.87 million expected.<\/li>\n\n\n\n<li>States hardest hit by the increase in jobless claims include Georgia, where claims rose by 3,100 and Pennsylvania, with a surge of 1,300.<\/li>\n\n\n\n<li>Surprisingly, Florida recorded a decline of over 3,000 claims during the week, showing the Hurricane Milton had no major disruption on the region\u2019s labor market.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Market Reactions: Stocks Rise Fueled By Chipmakers, Dollar Strengthens On ECB Cut<\/h2>\n\n\n\n<p>Stocks rallied in premarket trading on Thursday, driven by a tech-led surge that boosted futures for the S&amp;P 500 and Nasdaq 100.<\/p>\n\n\n\n<p>Futures on the S&amp;P 500 climbed 0.5%, while Nasdaq 100 contracts advanced 1%, with semiconductor stocks leading the charge.&nbsp;<strong>Taiwan Semiconductor Manufacturing Company&nbsp;<\/strong>soared nearly 9% on strong earnings, propelling the sector higher.<\/p>\n\n\n\n<p>Meanwhile, the U.S. dollar strengthened by 0.2% following the European Central Bank&#8217;s 25-basis-point rate cut, as the ECB signaled that disinflation was \u201cwell on track.\u201d<\/p>\n\n\n\n<p>Treasury yields rose in response to stronger-than-expected retail sales and lower-than-predicted jobless claims.<\/p>\n\n\n\n<p>&#8212;<\/p>\n\n\n\n<p>Originally Posted October 17, 2024 &#8211; <a href=\"https:\/\/www.benzinga.com\/news\/retail-sales\/24\/10\/41379775\/september-retail-sales-exceed-estimates-jobless-claims-fall-more-than-expected\">September Retail Sales Exceed Estimates, Jobless Claims Fall More Than Expected<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>September retail sales beat expectations, rising 0.4% month-over-month, surpassing the 0.3% forecast and August&#8217;s 0.1% growth.<\/p>\n","protected":false},"author":1128,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[18,6,8,9,26,3],"tags":[757,1546],"contributors-categories":[13584],"class_list":{"0":"post-213914","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-macro","7":"category-north-america","8":"category-region","9":"category-securities","10":"category-text-articles","11":"category-traders-insight","12":"tag-jobless-claims","13":"tag-retail-sales","14":"contributors-categories-benzinga"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>September Retail Sales Exceed Estimates, Jobless Claims Fall More Than 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