A Prudent Perspective On Recent Volatility
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Published Friday, August 16, 2019 at: 7:00 AM EDT
Fears of a recession caused a 2.9% price plunge on Wednesday but the Standard & Poor's 500 index rebounded sharply by Friday on news of strong retail sales in July and closed the week at 2888.68, less than 5% from its all-time high.
Retail sales — excluding gasoline because of their volatility — surged 3.7% in the 12 months through July, following its 3.8% spike in June and 3.1% rise in May.
Since 70% of U.S. economic activity comes from consumers, the continued strength in retail sales dampened fears of a recession.
This article was written by a veteran financial journalist based on data compiled and analyzed by independent economist, Fritz Meyer. While these are sources we believe to be reliable, the information is not intended to be used as financial advice without consulting a professional about your personal situation. Indices are unmanaged and not available for direct investment. Investments with higher return potential carry greater risk for loss. Past performance is not an indicator of your future results.
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