U.S. stocks open lower on strong retail sales

U.S. stock indexes opened lower on Wednesday after January retail sales number came in higher than expected, a sign that the U.S. economic growth picked up at the start of the year despite increased rate hikes by the Federal Reserve to tame inflation. The Dow Jones Industrial Average DJIA, -0.48% dropped 190 points, or 0.6%, to 33,885. The S&P 500 SPX, -0.47% was off 0.6% and the Nasdaq Composite COMP, -0.35% shed 0.5%. Sales at U.S.

retailers jumped 3% in January, topping the 1.9% Wall Street estimate, the Commerce Department reported Wednesday. Retail sales are a big part of consumer spending and could offer clues about the strength of the economy. The report comes as the investors continued to digest mixed signs on inflation after the release of January’s consumer price index Tuesday. January's consumer price index showed inflation slowed for a seventh straight month, but not as quickly as economists had expected.

'Stocks open lower on Strong Retail.' 🤣😳

Good news, stocks fall. Bad news, stocks soar. This market makes no sense.

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January CPI inflation report due today: Live updates on stock market and moreA new report on inflation is due Tuesday morning. Economists surveyed by Bloomberg forecast that the annual rate of price increases will slow to 6.2% in January following a decline to 6.5% in December. Way, way down… …to ONLY 6.5% These are year over year decreases, not the actual inflation rate for the month. Prices continued to decline on a yearly basis for the seventh straight month to 6.4% from 6.5%, the smallest increase since October 2021. However on a monthly basis, inflation rose by 0.5% from 0.1% in December.
منبع: USATODAY - 🏆 100. / 63 ادامه مطلب »

5 things to know before the stock market opens WednesdayHere are the most important news items that investors need to start their trading day. Fun day ahead!
منبع: CNBC - 🏆 12. / 72 ادامه مطلب »

Why January's CPI report could deal a massive blow to the stock marketThe January CPI reading is expected to show a 6.2% rise from a year earlier, slowing from a 6.5% year-over-year rise seen in the previous month, according to a survey of economists. Why so But what if corporations continue stock buy backs?
منبع: MarketWatch - 🏆 3. / 97 ادامه مطلب »