According to the U.S. Census Bureau, advance estimates for U.S. retail and food services sales in September 2024 reached $714.4 billion.
According to the U.S. Census Bureau, advance estimates for U.S. retail and food services sales in September 2024 reached $714.4 billion, adjusted for seasonal variations and differences in holiday and trading days. This figure represents a 0.4 percent increase (±0.5 percent) compared to August 2024. Year over year, sales rose by 1.7 percent (±0.5 percent) from September 2023, reflecting continued growth in consumer spending.
Source: U.S. Census Bureau
A deepening sell-off in technology and artificial intelligence stocks pressured financial markets, forcing investors to liquidate precious metals holdings to cover losses elsewhere.
Escalating Middle East tensions pushed oil prices higher following a deadly drone strike on Saudi Aramco's Shaybah facility, renewing inflation concerns and expectations for further Federal Reserve tightening.
Rising oil prices renewed inflation concerns as uncertainty surrounding the US-Iran conflict and continued disruptions in the Strait of Hormuz reinforced expectations for further monetary tightening.
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