S&P500 +1.51%(2,351.16); NASDAQ +1.82% (5,838.58); DJIA +1.75% (20,624.05)
This week’s reports:
- January’s CB Leading Indicator rose by 0.6% from December’s +0.5%.
- February’s Philadelphia Fed Manufacturing Survey rose to 43.3 from January’s +23.6.
- February’s NY Empire State Manufacturing Index rose to 18.7 from January’s +6.5.
- January’s CPI rose by 2.5% y/y versus December’s +2.5% y/y. Core CPI rose by 2.3% y/y versus December’s +2.2% y/y.
- December’s Business Inventories rose by 0.4% from November’s +0.7%.
- January’s Industrial Production fell 0.3% from December’s +0.8%. Capacity Utilization fell to 75.3% from December’s +75.5%
- February’s NAHB Housing Market Index fell to 65 from January’s 67.
- January’s Housing Starts rose to 1.246M from December’s 1.226M. Building Permits rose to 1.285M from December’s upwardly revised 1.228M.
- January’s Retail Sales rose 0.4% from December’s upwardly revised +1%. Retail Sales ex Autos rose 0.8% from December’s upwardly revised +0.4%.
- Initial Jobless Claims for the week ending February 10th rose by 512K to 239K. Continuing Jobless Claims for the week ending February 3th fell by 3K to 2,076K.
- Most US stocks rose, taking the S&P 500 Index to a fresh record amid deal action ahead of the holiday weekend.
- The S&P 500 erased declines in late trading to cap its fourth straight weekly advance, the longest run since July. It’s gained in eight of the past nine days.
- Stocks are pausing a rally as investors go back and forth assessing the prospects for President Donald Trump’s economic plans and the timing of US interest-rate increases.