Weak U.S. Economic Data Brings Out The Bears As Crude Oil Drops Below $30

U.S. stock futures are preparing for heavy losses on Friday as crude oil prices tumble over 5 percent to under $30, breaching  2004 levels, and a string of U.S. economic reports came in weaker than expected on Friday.

The Department of Commerce reported this morning that U.S. retail sales in December declined – 0.1 percent from the previous month in November.

The October 2015- December 2015 period was revised up 0.2 percent to up 0.4 percent.

Inflation

PPI declined 0.2 percent in December, matching estimates from economists at briefing.com but is below the 0.3 percent level in November.

Core PPI rose 0.1 percent in December which is slightly above the estimate of 0.0 percent from briefing.com but still below November’s 0.3 percent increase.

Manufacturing Decline

Empire Manufacturing declined 19.4 percent in December. In November Empire Manufacturing declined -4.6 percent.

Industrial Production

The Federal Reserve reported this morning that industrial production declined -0.4 percent in December, primarily due to cutbacks in mining and utilities.

For the forth quarter of 2015, industrial production fell at an annual rate of 3.4 percent.

Michigan Sentiment for January, and Business Inventories for November are due out later this morning.

-Johnathan Schweitzer

aj

About Johnathan Schweitzer 1532 Articles
Welcome to Schweitz Finance. I hope that my financial website will provide you with relevant market information to help you manage your investments with greater clarity and insight.
Contact: Website

Be the first to comment

Leave a Reply