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SPY, QQQ Rally as Tariff Revenues Offset Weak Retail Data
SPY, QQQ Rally as Tariff Revenues Offset Weak Retail Data
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BTCCSquare news:
U.S. equity ETFs climbed despite mixed economic signals. Record October tariff revenues of $31.4 billion and an in-line PPI reading overshadowed disappointing retail sales figures. The budget deficit ballooned to $284 billion, though calendar adjustments WOULD have shown a 29% year-over-year improvement.
Producer prices rose exactly as forecast - up 0.3% monthly and 2.7% annually. Core PPI came in slightly cooler than expectations at 0.1% month-over-month. These inflation metrics, delayed by government shutdowns, provided the final piece of pre-Fed meeting economic data.
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