SCOREBOARD: Data dichotomy

Solid data out of the US is a boon for markets, but a pessimistic take on governments continues to frustrate sentiment.

US stocks just managed to finish in positive territory Friday night, although at one stage it was looking like a pretty solid session. We’ve got this weird dichotomy going on where real macro data is getting better, but everyone is fretting about what politicians are going to do to wreck things. Wholesale sales, for instance, were strong in September – rising by 2 per cent after a 1 per cent gain the month prior – and business expect sales momentum to continue. You can see this because inventories were up a solid 1.1 per cent as well. They were good numbers which add to existing data showing a solid acceleration in activity.

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