London Daily

Focus on the big picture.
Friday, Oct 24, 2025

US stocks fall as investors weigh solid retail sales data against Target's warning of weaker holiday spending

US stocks fall as investors weigh solid retail sales data against Target's warning of weaker holiday spending

The strong retail sales growth in October reinforces expectations that the Fed will hike interest rates again in December by at least 50 basis points.

US stocks fell on Wednesday as investors weighed Target's disappointing third-quarter earnings results against solid retail sales data.

Retail sales jumped 1.3% in October to $694.5 billion, well ahead of estimates for a 1% gain, led by higher gas prices and auto sales. Sales were up 0.9% when excluding gas and auto sales. The data showed the ongoing resilience of the consumer despite elevated inflation and higher interest rates.

While retail sales jumped in October, one retailer was unable to fully capitalize off those gains. Target reported disappointing third-quarter earnings, which showed a drop in profits and a murky outlook for the upcoming holiday shopping season. The company also said it would launch a $3 billion cost-cutting plan.

"Although Target reported disappointing third quarter results, the October retail sales report underscores that a more discerning US consumer continues to spend. While credit cards are being used more frequently, consumers are taking advantage of earlier than usual holiday sales," LPL's chief global strategist Quincy Krosby told Insider.

The strong retail sales growth in October reinforces expectations that the Federal Reserve will hike interest rates once again in December by at least 50 basis points.

Here's where US indexes stood at the 4:00 p.m. ET close on Wednesday:

*  S&P 500: 3,959.10, down 0.82%

*  Dow Jones Industrial Average: 33,556.60, down 0.11% (36.32 points)

*  Nasdaq Composite: 11,183.66, down 1.54%

Here's what else happened today:


*  The rate of inflation in the UK accelerated in October to hit a new four-decade high of 11.1% amid steep price hikes in food and energy.

*  The US and China look like they're moving towards a military conflict over Taiwan that would crush economic growth, influential investor Ray Dalio warned.

*  Authorities in the US and Bahamas are in talks to possibly bring Sam Bankman-Fried to the US for questioning, according to Bloomberg.

*  Target stock fell 15% after the retailer revealed a disappointing third-quarter earnings report to investors.

*  The average 30-year fixed mortgage rate fell below 7% in its biggest weekly drop since July as inflation pressures show signs of easing.

*  Citadel's Ken Griffin warned that the US economy would enter an "immediate great depression" if China invades Taiwan and cuts off access to its semiconductor industry.

In commodities, bonds and crypto:


*  West Texas Intermediate crude oil fell 1.62% to $85.51 per barrel. Brent crude, oil's international benchmark, dropped 1.12% to $92.81.

*  Gold rose 0.11% to $1,778.80 per ounce.

*  The yield on the 10-year Treasury fell 10 basis points to 3.68%.

*  Bitcoin dropped 1.96% to $16569, while ether fell 3.80% to $1,209.

Comments

Oh ya 3 year ago
Cant pile the BS much higher. Amazon firing 10.000. Huge sales at retail because they can not sell there stuff. Trucking companies parking trucks because no freight. Orders being canceled in china for American stores. Ya the economy is great, Biden said so.

Newsletter

Related Articles

0:00
0:00
Close
Microsoft AI CEO: ‘We’re making an AI that you can trust your kids to use’ — but can Microsoft rebuild its own trust before fixing the industry’s?
China and Russia Deploy Seductive Espionage Networks to Infiltrate U.S. Tech Sector
Apple’s ‘iPhone Air’ Collapses After One Month — Another Major Misstep for the Tech Giant
Graham Potter Begins New Chapter as Sweden Head Coach on Short-Term Deal
Ecuadorian President Daniel Noboa Alleges Poison Plot via Chocolate and Jam
Lakestar to Halt External Fundraising as Investor in Revolut and Spotify
U.S. Innovation Ranking Under Scrutiny as China Leads Output Outputs but Ranks 10th
Three Men Arrested in London on Suspicion of Spying for Russia
Porsche Reverses EV Strategy as New CEO Bets on Petrol and Hybrids
Singapore’s Prime Minister Warns of ‘Messy’ Transition to Post-American Global Order
Andreessen Horowitz Sets Sights on Ten-Billion-Dollar Fund for Tech Surge
US Administration Under President Donald Trump Reportedly Lifts Ban on Ukraine’s Use of Storm Shadow Missiles Against Russia
‘Frightening’ First Night in Prison for Sarkozy: Inmates Riot and Shout ‘Little Nicolas’
White House Announces No Imminent Summit Between Trump and Putin
US and Qatar Warn EU of Trade and Energy Risks from Tough Climate Regulation
Apple Challenges EU Digital Markets Act Crackdown in Landmark Court Battle
Nicolas Sarkozy begins five-year prison term at La Santé in Paris
Japan stocks surge to record as Sanae Takaichi becomes Prime Minister
This Is How the 'Heist of the Century' Was Carried Out at the Louvre in Seven Minutes: France Humiliated as Crown with 2,000 Diamonds Vanishes
China Warns UK of ‘Consequences’ After Delay to London Embassy Approval
France’s Wealthy Shift Billions to Luxembourg and Switzerland Amid Tax and Political Turmoil
"Sniper Position": Observation Post Targeting 'Air Force One' Found Before Trump’s Arrival in Florida
Shouting Match at the White House: 'Trump Cursed, Threw Maps, and Told Zelensky – "Putin Will Destroy You"'
Windows’ Own ‘Siri’ Has Arrived: You Can Now Talk to Your Computer
Thailand and Singapore Investigate Cambodian-Based Prince Group as U.S. and U.K. Sanctions Unfold
‘No Kings’ Protests Inflate Numbers — But History Shows Nations Collapse Without Strong Executive Power
Chinese Tech Giants Halt Stablecoin Launches After Beijing’s Regulatory Intervention
Manhattan Jury Holds BNP Paribas Liable for Enabling Sudanese Government Abuses
Trump Orders Immediate Release of Former Congressman George Santos After Commuting Prison Sentence
S&P Downgrades France’s Credit Rating, Citing Soaring Debt and Political Instability
Ofcom Rules BBC’s Gaza Documentary ‘Materially Misleading’ Over Narrator’s Hamas Ties
Diane Keaton’s Cause of Death Revealed as Pneumonia, Family Confirms
Former Lostprophets Frontman Ian Watkins Stabbed to Death in British Prison
"The Tsunami Is Coming, and It’s Massive": The World’s Richest Man Unveils a New AI Vision
Outsider, Heroine, Trailblazer: Diane Keaton Was Always a Little Strange — and Forever One of a Kind
Dramatic Development in the Death of 'Mango' Founder: Billionaire's Son Suspected of Murder
Two Years of Darkness: The Harrowing Testimonies of Israeli Hostages Emerging From Gaza Captivity
EU Moves to Use Frozen Russian Assets to Buy U.S. Weapons for Ukraine
Europe Emerges as the Biggest Casualty in U.S.-China Rare Earth Rivalry
HSBC Confronts Strategic Crossroads as NAB Seeks Only Retail Arm in Australia Exit
U.S. Chamber Sues Trump Over $100,000 H-1B Visa Fee
Shenzhen Expo Spotlights China’s Quantum Step in Semiconductor Self-Reliance
China Accelerates to the Forefront in Global Nuclear Fusion Race
Yachts, Private Jets, and a Picasso Painting: Exposed as 'One of the Largest Frauds in History'
Australia’s Wedgetail Spies Aid NATO Response as Russian MiGs Breach Estonian Airspace
McGowan Urges Chalmers to Cut Spending Over Tax Hike to Close $20 Billion Budget Gap
Victoria Orders Review of Transgender Prison Placement Amid Safety Concerns for Female Inmates
U.S. Treasury Mobilises New $20 Billion Debt Facility to Stabilise Argentina
French Business Leaders Decry Budget as Macron’s Pro-Enterprise Promise Undermined
Trump Claims Modi Pledged India Would End Russian Oil Imports Amid U.S. Tariff Pressure
×