Joel Elconin – General Markets Digestion Of Economic Data And The Forward Focus On Retail Sales
Joel Elconin, Co-Host of the Benzinga PreMarket Prep Show and Editor of The PreMarket Prep website, joins us to unpack the markets now that most of the key central bank news and economic reports have been digested. We start off discussing retails sales and some of the trading in retail companies like Home Depot and Walmart. Next we review other companies slowing growth in store openings due to higher inflation cost inputs, and how that may affect expansion of stores and the construction sector.
We then shift over to currencies, and look at the persistent US dollar strength anticipating higher interest rates, in tandem with it being buoyed by Euro weakness. In addition, we discuss the recent short-term pullback in the cryptocurrencies, based on statements from China on energy consumption concerns with the crypto miners.
Joel wraps us up with his year-end outlook with the earnings season wrapping up, and the focus shifting to retail consumption for early holiday buying and the potential of another Santa Claus Rally.