Retail Sales

• One of biggest misses in awhile; -0.1% vs expex of +0.8%
• Ex-autos -0.6%
• Control group -0.2%
• Look for early markdowns of Q3 GDP estimates

Claims

• Initial claims up 4k to 558k
• Continuing down 141k (prior week revised up 33k); net of extended and emergency claims -11k

Import Prices

• -0.7% m/m and -19.3% y/y (record drop)
• Ex-petroleum -0.2% m/m and -7.3% y/y

Walmart- Beats earnings estimates but misses on revenue

• “We are acclerating our focus on reducing our expenses”-CEO
• WAL-MART CEO SAYS THERE IS A `NEW NORMAL’ IN CONSUMPTION
• WAL-MART CEO SAYS PEOPLE ARE SAVING MORE, CONSUMING LESS
• WAL-MART U.S. COMP SALES IN 2Q BELOW PLAN
• WALMART REDUCED U.S. INVENTORIES FASTER THAN SALES DECLINE