Option Millionaires

[uranium-pinto-beans]

U.S. retail sales beat estimates
U.S. retail sales beat estimates with solid March gains of 0.7% for the headline and 1.1% for the ex-auto measure after broad-based upward revisions in January and February. Analysts expect March personal consumption to rise 0.5% in nominal terms and 0.2% in "real" terms, after upward bumps in January and February. Analysts expect March PCE chain price gains of 0.3% for both the headline and the core, versus CPI gains of 0.4% for both. The savings rate likely slipped to 3.5% from 3.6%, versus a 1-year high of 5.3% last May and a 14-year low of 2.7% in June of 2022. Analysts boosted our GDP growth estimates to 2.3% in both Q1 (was 1.9%) and Q2 (was 2.2%), after the 3.4% Q4 clip. Analysts expect "real" consumption growth rates of 2.4% (was 2.0%) in Q1 and 2.2% (was 1.7%) in Q2, after a 3.3% pace in Q4. The business inventory report later this morning will reveal a 1.6% February sales bounce after a -1.0% (was -1.3%) January drop. Today's retail sales data are consistent with a 0.8% business sales climb in next month's March report.