Interest rates are high, inflation remains elevated and pandemic savings are dwindling. Yet the U.S. consumer is on a spending binge.
The display of consumer resilience persisted in the latest retail-sales report, which on Tuesday showed spending at stores, online and at restaurants rose a stronger-than-expected 0.7% in September from a month earlier.
Stocks finished little changed after a whipsaw session, and the 10-year yield settled at 4.846%, its highest closing level since July 2007.
Read the full story on The Wall Street Journal here.