Among the handful of economic news Friday, *business inventories grew*
in November as sales rose, according to the Commerce Department. The
figure was a little less than analysts had expected as business sales
gained to their highest levels since September 2008, a positive sign
of future economic growth. *December retail sales rose less than
expected,* while sales for all of 2010 gained almost 7% from a year
ago, the Commerce Department reported. And the consumer price index
saw its biggest increase since June 2009, largely because of an 8.5
percent gain in the gasoline index, the Labor Department reported. And
the consumer price index saw its biggest increase since June 2009,
largely because of an 8.5 percent gain in the gasoline index, the
Labor Department reported. Meanwhile, Thomson Reuters/University of
Michigan Consumer Sentiment Index fell to 72.7 in December, as *rising
gas prices dampened the mood of consumers.* Industrial production
numbers for December rose more than expected, as utility output jumped
due to cold weather.
!! The Week Ahead: !!
*MONDAY:* Martin Luther King Jr. Day—All Markets Closed,
Philadelphia Federal Reserve President speaks.
*TUESDAY:* Empire state manufacturing survey, Treasury international
capital, housing market index. Also, earnings before-the-bell from
Citigroup, TD Ameritrade; earnings after-the-bell from Apple, IBM.
*WEDNESDAY:* Weekly mortgage applications, housing starts, Obama hosts
Chinese President Hu; earnings before-the-bell from Goldman Sachs,
Wells Fargo; earnings after-the-bell from eBay.
*THURSDAY:* Weekly jobless claims, existing home sales, leading
indicators, Philadelphia Fed survey, oil inventories; earnings
before-the-bell from Morgan Stanley, Fifth Third, Huntington Bank,
Southwest Airlines, United Health, Union Pacific; earnings
after-the-bell from Advanced Micro, Capital One.
*FRIDAY:* Dodd-Frank rulemaking deadline; earnings before-the-bell
from Bank of America, GE, BB&T, Schlumberger and Sun Trust.
Source: Fxstreet.com
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