October 3, 2017
Vehicle sales, at an 18.6 million annualized rate in September, were the strongest in 12 years and were driven by replacement demand in Houston. The results will give a major lift to consumer spending at the end of what had been a lackluster third quarter.
Stocks posted solid gains with the Dow up 0.4 percent to a new record at 22,641. The euro, at $1.1750, is beginning to stabilize following Catalonia's independence vote and related violence over the weekend, which is putting an end to this week's dollar surge. The dollar index edged lower to 93.55. Rates held steady with the 10-year Treasury yield at 2.33 percent.