Feb 14, 2019

Retail spending sees biggest monthly drop since 2009

Photo: Brendan Hoffman/Getty Images

U.S. retail sales dropped 1.2% in December from the previous month, the biggest monthly drop since 2009 and a surprise for economists who were expecting sales to rise by 0.1%, the Commerce Department said on Thursday.

The big picture: The report, delayed several weeks because of the government shutdown, shows a pullback in spending from consumers. It raises concerns about what this could mean for the data on 4th quarter GDP growth, which was also delayed by the shutdown.

Go deeper: The lingering effects of the shutdown on economic data

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Why Apple may move to open iOS

Photo illustration: Jakub Porzycki/NurPhoto via Getty Images

Apple may finally allow iPhone owners to set email or browsing apps other than Apple's own as their preferred defaults, according to a Bloomberg report from last week.

The big picture: Customers have long clamored for the ability to choose their preferred apps, and now Apple, like other big tech companies, finds itself under increased scrutiny over anything perceived as anticompetitive.

The NFL warms up to betting

Photo: Jim McIsaac/Getty Images

Starting this season, NFL teams in states with legal sports betting will be allowed to have in-stadium betting lounges and accept sponsorships from sportsbooks and betting operators, per multiple reports.

One caveat: There will not be any physical betting windows in the lounges, so they're more "hangout spots for bettors" than an actual "places to make bets."

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Situational awareness

President Trump and First Lady Melania Trump at the Taj Mahal. Photo: Mandel Ngan/AFP via Getty Images