Recapping the day's news and newsmakers through the lens of CNBC.
The new consumer normal
One more sign that the American consumer is going through the spending equivalent of split personality disorder: Retail sales were up in August, but by only a smidgeon—0.2 percent, versus July's 0.4 percent, a level analysts had expected to be repeated.
The problem: consumers are shelling out for big-ticket items like cars and furniture but cutting back on clothing, building materials and sporting goods. Some retail executives think the frugal habits consumers in developed countries adopted during the Great Recession may by permanent.
"So listen, they're positive numbers, but positively less than we expected."—CNBC's Rick Santelli
"It is now ingrained for people to wait for the sales. The sales have become ongoing and constant. It became quite fashionable to be penny pinching but that kind of thing isn't sustainable. After a while it becomes a grind to shop around for the cheapest product."— Euromonitor senior retailing analyst Antonia Branston