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Stocks Rally on Softer Inflation and Strong Earning

                                      U.S. stocks surged in premarket trading today following softer-than-expected inflation data and upbeat fourth-quarter earnings reports from major companies. The Bureau of Labor Statistics reported that core inflation, which excludes food and energy prices, rose by 3.2% in December, below forecasts for a 3.3% annual increase. This news has raised hopes for a potential second rate cut by the Federal Reserve this year. Investors were also buoyed by strong earnings reports from leading financial institutions. JPMorgan Chase reported its highest annual profit on record, while BlackRock and Goldman Sachs posted impressive quarterly results. The positive sentiment was reflected in the stock market, with U.S. stock index futures soaring by 1.5-1.7%. The dollar fell by 0.5% against a basket of major currencies, and U.S. Treasury yields dropped 8.6 basis points to 4...
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Retail Sales Rise 0.3% in November as Americans Keep Spending

 

According to the Commerce Department, retail sales rose 0.3% in November from October, when sales were down a revised 0.2%. The figures aren’t adjusted for inflation. 

Excluding car and gas sales, sales rose 0.6%. Business at restaurants rose 1.6%, while sales at furniture stores rose 0.9%. Online sales rose 1%. Electronic and appliance sales, however, fell 1.1%. Sales at department stores fell 2.5%. 

The urge to spend for Americans appears to have some running room, even after a blowout summer. Consumer spending jumped in the July-September quarter. Economists have been expecting spending to slow in the final three months of the year as credit card debt and delinquencies rise, and savings fall.

This reflects a resilient consumer market as the holiday season progresses.

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