S&P500 -0.10%(2,274.64); NASDAQ +0.96% (5,574.12); DJIA -0.39% (19,885.73)
This week’s reports:
- November’s Consumer Credit Change rose to $24.53B from October’s upwardly revised $16.17B. The large increase in revolving consumer credit can partly be attributed to the holiday season, with spending fueled by credit cards.
- December’s Retail Sales rose 0.6% from November’s +0.2%. Retail Sales ex Autos rose 0.2% from November’s +0.3%.
- January’s Michigan Consumer Sentiment Index fell to 98.1 from December’s 98.2.
- November’s Wholesale Inventories fell by 1% from October’s -0.1%.
- November’s Business Inventories rose by 0.7% from October’s -0.1%.
- Initial Jobless Claims for the week ending January 6th rose by 10K to 247K. Continuing Jobless Claims for the week ending December 30th fell by 29K to 2,087K.
- US stocks advanced after solid economic data bolstered confidence in the economy and the case for higher interest rates. Financial shares climbed after three of the largest American lenders reported results.