A positive October sales report shows a strong retail market. U.S. retail sales increased slightly more than expected in October as households boosted purchases of motor vehicles and electronic goods, suggesting the economy kicked off the fourth quarter on a strong note.

October's retail sales report will be closely watched by investors for signs that the US economy remains on solid footing as the Federal Reserve begins to cut interest rates.

The U.S. Commerce Department says consumers boosted their spending last month, signaling continued growth in the nation's economy.