In general, the stock market demonstrates weakness despite better-than-expected US economic reports and news. The US unemployment rate dropped to 8.6% in November from 9% in October. It is a lowest level in more than 2.5 years, since March 2009. October US retail sales were 7.2% higher than the same month a year ago. Furthermore, the retail sales have been raising for 5 straight months.
Improvement in consumer spending was one of the reasons why the economy grew at the best of the year annual rate of 2.5% in the 3rd quarter. US auto sales increased in 14% in November. Also during the 4-day Thanksgiving weekend consumer spending reached a record 16% in total sales from a year ago. Although some of these numbers might be reevaluated and revised in the future, in overall, they indicate improvements.
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