U.S. Stocks Push Higher On Friday, Boosted By Retail Sales In December, Strong Bank Earnings

U.S. stocks are rising in early trading on Friday, boosted by solid gains in the financial sector from JP Morgan and Bank of America as corporate earnings season gets underway this week.

Today the U.S. Commerce Department reported that retail sales rose 0.6 percent in December which is typically a strong month for retail sales.

Economists from briefing.com were forecasting an increase in retail sales of 0.7 percent in its consensus estimates for December.

Separately, the producer price index (PPI) rose 0.3 in December, according to a new report today from the Bureau of Labor Statistics, matching the consensus estimate from briefing.com.

Prices for final demand excluding foods, energy, and trade services or Core PPI increased 0.1 percent in December, matching the consensus estimate from briefing.com, after rising 0.2 percent in November.

Written By:

John Schweitzer

@SchweitzFinance

schweitz31@gmail.com

 

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