* We got a lot of economic data released today, most of it bad, and most of it worse than expected

* What I did not expect was that the market shrugged it off

* Initially, there was a little reaction; gold jumped $3 but it never gained momentum and it rolled over to -$10 at the time of this recording

* The dollar index, which had moved into negative territory immediately following the release, quickly recovered back to positive territory

* It's still early in the day, as I'm recording, so this could change as some of this economic data has a chance to sink in

* I noticed that the Atlanta Fed just reduced its Q3 GDP estimate from 3.3 to 3%

* That' the second reduction in a row

* This is the lowest estimate the Atlanta Fed has had in about 2 months, although it is still pretty high

* Let's go over the data we got today:

* Retail Sales was one of the more significant numbers; everybody looks to retail sales to judge the health of the consumer

* Last month's number, relatively weak, it was flat, and they were looking for another flat month, but we were -.3% for August

* It gets worse from there - less autos, they revised the prior month from -.3 to -.4 and in August they were looking for +.3, they got -.1

* Less autos and gasoline, we were down last month .1%; they were looking for +.4% and we're down another .1%


Our Sponsors:
* Check out DeleteMe: https://deleteme.com/GOLD
* Check out Fast Growing Trees: https://fastgrowingtrees.com/gold
* Check out Kinsta at https://kinsta.com to get your first month free today!
* Check out NPR: https://npr.org
* Check out Vanta and use my code SCHIFF for a great deal: https://www.vanta.com


Privacy & Opt-Out: https://redcircle.com/privacy