The PULSE: Global economic and market news for today, October 17, 2024

1. U.S. Consumer Retail Sales: U.S. retail sales in September rose by 0.4%, exceeding expectations, driven by more robust discretionary spending. This signals that consumers continue to fuel economic growth despite inflationary pressures, though this momentum may slow in the coming months​ Deloitte United States.

2. IMF Global Economy News: The IMF has projected global economic growth to be 3.2% in 2024, slightly down from previous estimates. Persistent inflation, particularly in services, complicates the outlook, while risks from geopolitical tensions and oil price fluctuations remain high. Countries like India are expected to show strong growth, with a projected GDP rise of 6.9-7.2%​ Deloitte United States.

3. Today's Dow, S&P, and Nasdaq: The U.S. stock markets saw mixed performance today. The Dow remained stable, the S&P 500 experienced slight declines due to inflation concerns, and the Nasdaq dipped as tech stocks were impacted by higher interest rates​ Deloitte United States.

4. ALDI Thanksgiving News: ALDI has announced significant price cuts for Thanksgiving essentials, aiming to offer competitive deals amid inflation. This move is part of their strategy to attract budget-conscious consumers during the holiday season, which could help boost retail foot traffic​ Deloitte United States.

5. 2024 Holiday Economic Forecast: Retailers are optimistic about the 2024 holiday season, expecting growth despite economic uncertainties. AI and other technologies are critical drivers of operational efficiency and customer engagement. However, inflation and labor shortages are still concerns, potentially dampening profit margins​ Deloitte United States.

6. FedEx News: FedEx has been optimizing its operations amid rising costs and labor shortages. The company is expected to benefit from the upcoming holiday shipping season but faces pressure from competitors as it navigates these challenges​ Deloitte United States.

7. International Paper News: International Paper continues to face challenges with demand variability in the paper and packaging industries. The company focuses on cost-cutting measures and sustainability initiatives ​ as part of its strategy to enhance profitability. Deloitte United States

Sources:

• Deloitte Insights - Global Economic Outlook 2024
• Reuters - U.S. Retail Sales