PHILADELPHIA—Nationally syndicated host and biblical investing authority Dan Celia discussed the indices for November’s retail sales numbers, and reviewed Biden’s bipartisan infrastructure bill.
Celia stated, “Monday was a relatively muted day in the stock market. All the indices were pretty much flat; they were all in negative territory with not a lot of activity. We’ll get retail sales numbers soon, and it’ll be very interesting to see how that shakes out. It’s expected that it’s going to be up one-point-three percent for the month of October, although there is no correlating data that would indicate that it should be. Of course, November is the big retail sales number, and frankly, it needs to be a huge number.
“I don’t think November’s retail sales number is going to be a huge number with consumer sentiment being down. As we saw last Friday, we have other consumer sentiment numbers far more important than the University of Michigan sentiment numbers that only polls about 500 people. There’s not a whole lot of credibility there in that sentiment, but it does give us at least a gauge that things are moving in the wrong direction.”
Celia continued, “President Biden signed the $1 trillion bipartisan infrastructure bill into law. This will unlock the funds for public works, but keep in mind if it is truly an infrastructure bill and it’s going to be used to support infrastructure that’s so desperately needed in America, it’s going to take years to get into the economy. I expect it will not take years to get into the hands of politicians—days, maybe weeks, but it won’t take years. Of that, I’m relatively certain.”
Celia discusses these and other global and economic headlines on his daily, three-hour “Financial Issues” program, heard on more than 660 radio stations and several television networks nationwide, including FISM.TV, viewed on several post-cable television platforms and online.
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