Global shares opened strong this morning after China reported its economy advanced at a 5% annual pace during the third quarter. S&P 500 and Dow futures rose, while most Asian benchmarks also advanced.
China was the first economy hit hard by the coronavirus outbreak, and the first to begin reopening after extensive shutdowns. And while China’s economic reports are notoriously deceitful, the country’s exports are rising, which tells me they might be speaking the truth…
In the U.S., retail sales increased 0.9% year over year even after the $600-a-week extra unemployment benefits that supported consumer spending expired. That also follows a 7.2% contraction during the first half of this year.
In today’s video, I’ll explain how earnings season is shaping the stock market… key levels on major indexes… the top industries right now… and the biggest report to watch this week.