Retail sales miss despite solid consumer fundamentals

Retail sales for October disappointed and failed to meet expectations only increasing a meager 0.1 percent. This figure shows U.S. consumers are remaining cautious going into the holiday season despite a record-breaking employment report for October and floor-scraping gas prices. Analysts link these somewhat disappointing retail sales figures to consumers remaining hesitant over a Fed rate increase and fluctuations in the markets.

"Retail sales are expected to pick up going into this year's holiday shopping season. The effect of low gas prices likely to hit consumers this month coupled with ever-increasing hiring and payroll gains is set to boost spending", notes Voya Global.