Markets were inching higher on Monday morning as U.S. retail sales rose in June. The Commerce Depart

Markets were inching higher on Monday morning as U.S. retail sales rose in June. The Commerce Department announced that retail sales were up 0.4% in June as consumers spent more on cars, furniture and clothes. This was less then the 0.8% that economists were expecting. The increase was largely attributed to a 1.8% leap in auto sales, which happened to be the biggest increase since November rental cars london ontario canada 2012. Auto sales is a closely watched number for economists as it is a factor in calculating overall economic growth. Furniture sales also had a substantial increase at 2.4%. This is a strong sign that the housing recovery rental cars london ontario canada could be sustaining more home remodeling projects. There was a decline in sales at department rental cars london ontario canada stores by 1% and a decline in sales at home improvement stores by 2.2%. Despite the drop, sales at home improvement stores are still up over 10% of where this number stood last year. Russell Price, senior economist at Ameriprise Financial Inc. said “The consumer was less engaged in the second quarter. The numbers are disappointing in comparison to expectations but the overall picture is still encouraging” when you factor in job growth and improved household balance sheets.
rental cars london ontario canada Shares of the car rental company Avis (NASDAQ:CAR) were rising as they announced that they will be purchasing Payless Car Rental for $50 million. Payless is widely known for “deals of the hour” and “last-minute deals” to customers. Payless holds the sixth position on the largest car rental companies in North America list. This will be the second purchase rental cars london ontario canada for the company this year. Earlier in January rental cars london ontario canada Avis (NASDAQ:CAR) purchased the car-sharing company Zipcar for nearly $490 million. Avis mainly rental cars london ontario canada focuses on rentals of mid to high-end cars, so the deal with Payless will provide them with lower vehicle depreciation and reduced fleet interest expense. Payless currently has 120 rental locations throughout the U.S., Canada, Europe and South America. Chairman and CEO of Avis (NASDAQ:CAR), Ronald Nelson, said “Payless expands our global footprint, enables us to support Budget s mid-tier positioning, and gives us greater flexibility to capitalize on opportunities in an additional segment of the car rental market in order to help accelerate our growth.”
Citigroup (C) shares were trading higher on Monday morning after the company announced a 26% increase in adjusted quarterly rental cars london ontario canada profit. rental cars london ontario canada The gain was partially attributed to stronger rental cars london ontario canada home prices which reduced the loss of mortgages and trading revenue rebounded. The company reported income was up to $3.89 billion, or $1.25 per share. This was up from $3.08 billion, or $1.00 per share, the same time last year. This surpassed analysts expectations of $3.55 billion, or $1.19 per share. Michael L. Corbat, chief executive of Citigroup, said “Our business performed well during the quarter and these results are well balanced through our products and geographies, especially in the emerging markets, where growth is being challenged.”
Related Articles 07/01/13 Citigroup rental cars london ontario canada (NYSE:C) Settles with Fannie rental cars london ontario canada Mae, Markets Rise 04/15/13 Gold (GLD) Plummets, Citigroup (C) Rising 02/28/14 Citigroup Hit By Big Fraud in Mexico, Realtor Sales Numbers Up 07/23/10 Market Morning, with news on Citigroup (NYSE:C), Ford (NYSE:F), BP plc (NYSE:BP) rental cars london ontario canada 05/09/11 Market Midday, with news on Avis (NASDAQ:CAR), Rosetta (NASDAQ:ROSE), Morgan Stanley (NYSE:MS), Citigroup (NYSE:C), rental cars london ontario canada Hertz (NYSE:HTZ), Bank of America (NYSE:BAC) 01/02/13 Apple (NASDAQ:AAPL) iPhone 6 iOS Leaked? Zemanta
Related Articles rental cars london ontario canada 07/01/13 Citigroup (NYSE:C) rental cars london ontario canada Settles with Fannie Mae, Markets Rise 04/15/13 Gold (GLD) Plummets, Citigroup (C) Rising rental cars london ontario canada 02/28/14 Citigroup Hit By Big Fraud in Mexico, Realtor rental cars london ontario canada Sales Numbers Up 07/23/10 Market Morning, with news on Citigroup (NYSE:C), Ford (NYSE:F), BP plc (NYSE:BP) 05/09/11 Market Midday, with news on Avis (NASDAQ:CAR), rental cars london ontario canada Rosetta (NASDAQ:ROSE), Morgan Stanley (NYSE:MS), Citigroup (NYSE:C), Hertz (NYSE:HTZ), Bank of America (NYSE:BAC) 01/02/13 Apple (NASDAQ:AAPL) iPhone 6 iOS Leaked? Zemanta
Get our Bourbon & Bayonets newsletter, and a two-month trial subscription to our premium Wall Street Elite newsletter (normally $49.99 per month) completely rental cars london ontario canada free . That’s $100 of ‘house cash’ you can start off our financial newsletters with.