US retail sales rose 0.7% in November, above economist expectations of 0.6%. Though bolstered for the most part by Cyber Week sales kicking off the holiday shopping season, auto sales drove this figure higher. When excluding auto sales from the data set, sales only rose 0.2%, below forecasts for 0.4%.
Yahoo Finance markets reporter Josh Schafer discusses the persistence of US consumer spending ahead of the Federal Reserve's final policy meeting this week. Schafer also examines the results of Bank of America's global fund manager survey, which reports US stock allocations (^DJI, ^IXIC, ^GSPC) hit record highs amid "super-bullish" sentiments.
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This post was written by Luke Carberry Mogan.
