00:00Well, we've got some good news for spending today with the retail sales numbers up by
00:06two-tenths of a percent in the month of June. Americans still spending despite what was going
00:12on. Ex-autos, though, down two-tenths of a percent. But the control group that economists
00:18worry about, because that's what goes into GDP, up a solid half a percent after a seven-tenths
00:23rise the month before. So basically, Americans still spending and it will help GDP. The
00:29Philadelphia Fed comes in at 41.4, up from 10.3. So a significant increase there. Prices paid
00:38index at 53.9 from 53.2. So no break from the decline in CPI and the employment index for
00:46the Philly Fed at 10 versus 7.9. So some better news there. And finally, we have initial jobless
00:53claims. And once again, it is confounding. 208,000 down from 216,000, a revised number
01:01from last week. So significant drops still very, very low. Continuing claims, 1,805,000 down
01:08from 1,821,000. So all in all, the numbers are still very good for the overall U.S. economy.
01:17So it's a good story.
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