The encouraging retail sales are a good omen for the coming holiday business which usually kicks off in the last week of November. The numbers for October promise solid holiday sales that could strengthen the sluggish economy.
Helpful is the job market, which is healing as today´s job market numbers show. More tailwinds are delivered by the recovery of the home market and the gains on the stock market in the recent 12 months.
I reckon that a good holiday reason isn`t priced into the stock valuations yet and should therefore fuel more gains on the stock market.