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Very weak retail sales send stocks higher

SPX News by Allie Longford on 09:14 June 14, 2017 EST
Still in the new normal phase where bad news is good news.

Retail sales contracted 0.3% month on month while an expansion of 0.2% was expected according to The Commerce Department. The figure for the previous month, April, was upwardly revised 0.4 percent in April. Excluding auto sales, Core retail sales also fell by 0.3 percent in May.

Also, the Labor Department confirmed on Wednesday morning the Consumer Price Index dipped 0.1 percent last month after rising 0.2 percent in April. This is the second drop in the CPI in three months.

The S&P 500 index threats its all time highs as weak retail sales are perceived as a good sign perhaps on the notion that the FED will take its rate hike stance with moderation.

Comex gold futures traded at $1,275.21 up $7.20, or around 0.6%.