A slew of economic reports came out today, all of them terrible. But the next set will be worse.
- Total: -8.7%
- Motor Vehicles and Parts: -25.6%
- Furniture: -26.8%
- Food and Beverage Stores: +25.6%
- Gasoline: -17.2
- Clothing Stores: -50.5%
- Sporting Goods Stores: -23.3%
- General Merchandise Stores: +6.4%
- Department Stores: -19.7%
- Food and Drinking Places: -26.5%
- Nonstore Retailers: +3.1%
It was a disaster across the board except for food and beverage stores plus nonstore retailers like Amazon (NASDAQ:).
Why general merchandise?
The General Merchandise category includes Walmart (NYSE:), Target (NYSE:), and other stores that sold food. They remained open. Department stores like JCPenney are a subset of General Merchandise.
Empire State Manufacturing Report
The Empire State Index plunged to -78.2, a
The lowest level this indicator had reached prior to April was -34.3…