EQUITY MARKETS

US

(S&P500  +1.57%(2,786.24); NASDAQ  +1.74% (7,261.06); DJIA  +2.01% (25,803.19

This week’s reports:

• December’s CPI rose 2.1% y/y versus November’s +2.2% y/y. CPI ex Food and Energy rose 1.8% y/y versus November’s +1.7% y/y.
• November’s Consumer Credit rose by $27.95 billion, the most since 2001, from October’s increase of $20.53 billion. The surge in credit was led by revolving credit which rose by $11.2 billion, the most in a year; although non-revolving debt also registered its biggest gain since Oct. 2016.
• December’s Retail Sales rose 0.4% from November’s +0.9%. Retail Sales ex. Autos rose 0.4% from November’s +1.3%.
• November’s Wholesale Inventories rose 0.8% from October’s +0.7%. Business Inventories rose 0.4% from October’s -0.1%.
• Initial Jobless Claims for the week ending January 5^th rose by 11K to 261K. Continuing Jobless Claims for the week ending December 29^th fell by 35K to 1,867K.

US stocks rose to records as retail sales sparked optimism in the economy and JPMorgan Chase signaled tax cuts will bolster profits. The S&P 500 Index capped a weekly increase that took its gain this year past 4%.

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