Headlines discussed at LNWM’s Monday morning briefing:
— US retail sales jumped 1.9% in September, more than twice as much as expected; now back to levels seen pre-Covid-19.
— The Consumer Price Index rose just 0.4% in September, and is up 1.4% for the past year, with no signs yet of US inflation rising toward 2% Fed goal.
— The UK should prepare for a no-deal Brexit, PM Boris Johnson said; however, both the UK and the EU remain open to talks ahead of the Dec. 31 final deadline.
— Pfizer said it may file by late November 2020 for emergency use of a Covid-19 vaccine it is developing jointly with a Germany company.
— US industrial production fell 0.6% in Sept, the first drop after 4 months of gains; total output remains 7% below pre-Covid levels and capacity utilization is at 71%.
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