Friday’s Must-Read Stock News: Retail Stocks Soared

This morning, watch for retail stocks to follow through from Thursday’s rally. Buyers snapped up Walmart (WMT) and Costco (COST) stock after the Commerce Department posted strong consumer spending levels.In July, advanced retail sales increased by 1% on the month. This is up from a 0.2% decline in June and well above the 0.3% expected rate. When the data excludes auto-related items, sales grew by 0.4%. Expect consumers to continue to shun automotive products. Dealerships at Ford (F) and Stellantis (STLA) are trying to sell high-end vehicles. Yet consumers do not have the money to buy them….

Quebec suffering ‘extremely difficult’ wave of severe weather, minister says

Quebec is experiencing an “extremely difficult” period of climate-related disasters, Public Security Minister François Bonnardel said Wednesday, as residents across several regions cleaned up from another episode of severe rainfall. Bonnardel spoke to reporters from Ste-Julienne, Que., a small community…The post Quebec suffering ‘extremely difficult’ wave of severe weather, minister says appeared first on Canadian Underwriter.