Written by SK Ashby

(Cartoonist - Nick Anderson)

In other news, economists predicted that American retail sales would increase by 0.3 percent in September, but retail sales actually declined by 0.3 percent according to the Commerce Department.

“Weaker retail numbers provide further evidence that weakness in the manufacturing sector is spilling over into other areas of the economy,” said Jim Baird, chief investment officer at Plante Moran Financial Advisors in Kalamazoo, Michigan.

Meanwhile, CNBC and Moody’s Analytics now estimate that the economy only grew by 1.5 percent during the third quarter because of said weakness in consumer spending.

Finally, the Wall Street Journal reported this morning that China has only told the Trump White House that they'll purchase American farm goods 'based on demand and market prices' and that's obviously not the same thing as saying they'll buy up to $50 billion per year. Any new purchases are also contingent on Trump canceling his next round of tariffs scheduled for December.