There seems to be a bit of a post-election swoon hitting the stock market. Perhaps investors' enthusiasm for a more business-friendly Congress has been tempered with the reality that we still have real problems to deal with.
In any event, I was interested to see if this was reflected in vehicle sales for the first week of November. (Vehicle sales correlate more closely with the performance of the stock market than you might think.)
The good news is that vehicle sales are off slightly, but at a pace consistent with a monthly SAAR of 12.2 M (Actual sales in November are weighted towards the Thanksgiving weekend and are assumed to be slightly lower than October.)
A 12.2 M SAAR also assumes slightly higher fleet sales than October, which may not materialize. So lots of assumptions at this point, but it looks like the anemic recovery continues.
Incidentally, if November and December end the year with a 12.2 M pace, 2010 will record 11.49 M sales.