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Market Brief – Tuesday 10/13/20

Stocks fell in overnight trading except for the tech-heavy Nasdaq-100 which rose slightly in overnight trading. The broad equity indices were headed lower in early trading. Treasury yields fell in overnight trading and 30-year Treasury yields fell below its 200-day moving average in early trading.

The National Federation of Independent Business Small Business Optimism Index rose from 100.2 last month to 104.0 in September as small business owners are more optimistic about the future.

The Consumer Price Index rose +0.2% in September and +1.4% from this time last year. Excluding food and energy, Core CPI rose +0.2% in September and +1.7% from this time last year. Real, or inflation-adjusted earnings rose +0.2% in September.

Redbook same-store weekly brick-and-mortar retail sales rose +0.4% last week and +1.2% from this time last year. The Redbook data suggests retail sales growth is slowing.

Stocks closed lower on the day except for the tech-heavy Nasdaq-100 which closed flat on the day. Treasury yields fell across the board and 30-year Treasury yields closed below their 200-day moving average.