Finance
Retail sales top Wall Street estimates in August
Retail sales surpassed Wall Street’s estimates in August, as investors keep a close eye on any signs of a slowdown in consumer spending. The data comes as the Federal Reserve’s two day policy meeting kicks off in Washington with the central bank widely expected to cut interest rates as economic growth data slows and inflation lessens.
Retail sales rose 0.1% in August. Economists had expected a 0.2% decrease in spending, according to Bloomberg data. Meanwhile, retail sales in July were revised to a 1.1% increase, from a prior reading that showed sales increased by 1% in the month, according to Census Bureau data.
August sales, excluding auto and gas, rose 0.2%, below consensus estimates for a 0.3% increase. The control group in Tuesday’s release, which excludes several volatile categories and factors into the gross domestic product reading for the quarter, increased 0.3% in August, in line with estimates.
The release comes as investors widely expect the Fed will cut interest rates for the first time since 2020 when it’s next policy decision is announced at 2 p.m. ET on Wednesday.
Markets have been debating how large of a cut the Fed will enact. As signs emerge of slowing in the labor market and inflation falls toward the Fed’s 2% target, markets have shifted to price in a 50 basis point cut from the Fed.
Entering Tuesday’s retail sales print markets were pricing in a 67% chance the Fed cuts interest rates by 50 basis points, compared to the 33% odds seen that the Fed opts for a smaller 25 basis point cut, per the CME FedWatch Tool.
Josh Schafer is a reporter for Yahoo Finance. Follow him on X @_joshschafer.
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ORLANDO, Fla. – This week on “Black Men Sundays,” it’s a throwback to Season 5 when host Corie Murray interviewed Jamil Frazier, an entrepreneur who’s founded more companies than most people have probably ever worked for.
“For me, it was always a dream, I always wanted to be in a position where I could give back,” Frazier said, discussing his motivation for creating scholarships, something stemming from his own experiences growing up.
He emphasized the importance of partnering with local schools and communities to establish scholarship funds, encouraging listeners to find out what they’re passionate about so they can start connecting with leaders in those fields.
But building wealth isn’t as easy as just meeting new people and making connections, however fruitful they may be.
[EXCLUSIVE: Become a News 6 Insider (it’s FREE) | PINIT! Share your photos]
Frazier stressed the importance of saving and investing on top of all that networking. The key, he says, is ensuring you invest consistently, regardless of the amount.
“If you have some sort of income coming in, take 10% of that and start putting it away to save. Take another 10% of that and put it away so that you can invest, and my philosophy — what I teach my students and what I teach my kids — it’s that last 10%, put it away so that you can give it away, so you can tithe or give it away in the form of scholarships. Live off of 70% of your income,” he said, encouraging listeners to invest in various vehicles such as real estate, the stock market and private equity, adding, “All of them work.”
Hear the interview and more in Season 6, Episode 8 of “Black Men Sundays.”
Black Men Sundays talks about building generational wealth. Check out every episode in the media player below.
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Revenue: RM31.3m (up 2.7% from 3Q 2024).
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Net income: RM3.02m (down 23% from 3Q 2024).
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Profit margin: 9.7% (down from 13% in 3Q 2024). The decrease in margin was driven by higher expenses.
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EPS: RM0.019 (down from RM0.025 in 3Q 2024).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Superlon Holdings Berhad shares are up 5.2% from a week ago.
What about risks? Every company has them, and we’ve spotted 2 warning signs for Superlon Holdings Berhad you should know about.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Investors could turn to REITs (Real Estate Investment Trusts) as a counter to market volatility and economic uncertainty.
Wedbush Securities managing director of Equity Research and REITs Richard Anderson sits down with Catalysts host Madison Mills and StoneX senior adviser Jon Hilsenrath to speak more about how the Federal Reserve’s interest rate forecast and economic projections could affect the REITs landscape.
To watch more expert insights and analysis on the latest market action, check out more Catalysts here.
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