Stock markets are saying the growth scare of August is over.
US retail sales beat estimates today and Walmart executives offered a strong endorsement of the health of the consumer. Shares of WMT are up 8% in the premarket.
S&P 500 futures are up 1% and have now cleared the 61.8% retracement of the July-August rout.
That’s a good sign that we will get a complete retracement to 5719.
The small cap market is reacting even better to the data with Russell 2000 futures up 2%.
This article was written by Adam Button at www.forexlive.com.
