Stocks React Passively to Weaker Retail Sales for April

Retail sales for April disappointed the market, but stocks did not react badly. Keith Bliss of Cuttone points out that even though the market felt that pent-up demand from winter would be expressed in April, the sales could still come. He also notes that the report was positive for department stores and clothing chains. Cuttone still remains concerned about consumers beginning to charge more and wages not growing. However, he feels that we need to get further along in the warmer weather months to really get a clear picture of how much consumers are willing to spend.