Retail Sales Beat Expectations In October

Sales rose 0.3%, against expectations for the report to show sales rose 0.2% from the previous month.

Excluding autos, sales rose 0.3% in October, also better than the 0.2% that was expected by economists.

Against the prior year, retail sales rose 4.1% in October.

Amid the decline in gas prices, many expect retail spending to strengthen as consumers have more disposable income.

Sales at gasoline stations fell 1.5% in October when compared to the prior month, and fell 4% against the same month last year.

In September, retail sales disappointed, falling 0.3% against an expected decline of 0.1%. Excluding auto sales, September sales declined 0.2%.

The September retail sales report also came on the same day the market hit its most recent low, and was out about an hour before the "flash crash" in the bond market that saw the yield on the US 10-year Treasury bond fall to 1.86%.

More to come ...