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TD Ameritrade Chief Strategist JJ Kinahan Says Positive Retail Sales Numbers Is Result Of Consumer Having More Spending Money

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When talking about low prices, TD Ameritrade Chief Strategist JJ Kinahan told Benzinga that one obvious effect is that consumers will spend money saved from low gas prices elsewhere.

Based on the economic data released Thursday, that savings is going to retail.

“You saw in the retail sales number the effect of the consumer having more money in their pocket as we headed into the holiday season,” Kinahan said.

Kinahan also pointed out that the retail sales data did not include Cyber Monday, which has 11 percent growth.

“It included a little bit of disappointing Black Friday sales, but it shows that folks are still out spending money,” Kinahan said. “I think that’s why people were happily surprised by that number today.”

 

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