Retail sales overall were dismal in September, although not as horrible as some had projected. Tech stocks fared better. Analysts warned, though, that the overall earnings picture remains bleak and it's not clear how the market will react to those companies that offer disappointing results. Also Friday, the Labor Department reported that wholesale prices rose by an unexpected 0.4 percent in September as the price of gasoline and other energy products posted a second straight month of large gains. But the market also got some good news with a University of Michigan survey reportedly showing mid-October consumer sentiment rising to 83.4 from 81.8 in late September, suggesting that consumers are holding their own.
Consumer spending accounts for two-thirds of the economy.
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