U.S. Stocks Move Higher With U.S. Labor and Inflation Reports Providing Relief

inflationU.S. stock indexes are up in early trading following lower than expected initial jobless claims this week and a core inflation reading for September that showed a solid increase and lessens some concerns about the U.S. economy moving closer toward deflation.

The Labor Department reported that initial jobless claims dropped to 255,000, below the 270,000 forecast from briefing.com.

Today the U.S. Bureau of Labor Statistics reported that the consumer price index dropped to an 8 month low and declined -0.2 in September amid declining gasoline prices but the core consumer price index, which strips out food and energy costs, rose 0.2 percent, higher than the 0.1 percent forecast from briefing.com.

-Johnathan Schweitzer

 

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