Headwinds out there, whether its gas prices, the payroll taxes, or whether disruptions. Lorwer income americans seem to be the most fragile, on tuesday Charles Holly said taxes are his shoppers number two concern, adding its the first time in a long time taxes were a top concern at all. Itg Investment Research chief economist steve blitz says this retail sales report illustrates two separate consumer groups. With higher income americans spending on autos and Building Supplies while lower income americans continue to be adversely impacted by higher payroll taxes, rising gas prices and delayed tax refund checks, a sentiment echoed by the National Retail federation. For nightly Business Report, im courtney reagan. As courtney just mentioned, consumers are spending on housing and garden supplies. Coming up, well take you behind the scenes of the home depot product walk. Its where Companies Showcase their hottest home items for this spring. Chief executives of some of americas Biggest Compa
Ended in both places with definitive outcomes. On wall street, that outcome was another record high close for the dow, and we begin there tonight. Now, the dows win streak continues. Nine in a row. The blue chip index hasnt done that in 16 years. In fact it hasnt had a down day this month. Today the dow added 5 points, ending at 14,455, its seventh Straight Record closing high. The nasdaq was up nearly 3 points and the s p 500 inched 2 points higher. That leaves it less than 11 points from its alltime closing high. Now, the markets got an early boost from strong retail sales last month, which rose 1. 1 , nearly double what economists had expected. Thats the biggest spending gain in five months. But as Courtney Reagan tells us, those top line numbers can be deceiving. The governments headline retail sales number came in nearly double what economists expected for february. The details reveal a less than rosy picture when it comes to Discretionary Spending. I think the consumer is still i
Its gas prices, the payroll taxes, or whether disruptions. Lorwer income americans seem to be the most fragile, on tuesday Charles Holly said taxes are his shoppers number two concern, adding its the first time in a long time taxes were a top concern at all. Itg Investment Research chief economist steve blitz says this retail sales report illustrates two separate consumer groups. With higher income americans spending on autos and Building Supplies while lower income americans continue to be adversely impacted by higher payroll taxes, rising gas prices and delayed tax refund checks, a sentiment echoed by the National Retail federation. For nightly Business Report, im courtney reagan. As courtney just mentioned, consumers are spending on housing and garden supplies. Coming up, well take you behind the scenes of the home depot product walk. Its where Companies Showcase their hottest home items for this spring. Chief executives of some of americas Biggest Companies are optimistic about the