The Data Week: US Indices Move Higher, CPI Falls, Retail Sales Up

US
S&P500 +0.37% (1,804.76); NASDAQ +1.70% (3,991.65); DJIA +0.65% (16,064.77) This week’s reports:

October’s CPI fell 0.1% from September’s +0.2%. Annual inflation slowed to 1.0% from September’s 1.2%. Core CPI remained unchanged from September’s 1.7% y/y.

October’s Retail Sales rose 0.4%, the most in three months, from September, when they were flat. Retail Sales ex. Autos rose 0.2% from September’s +0.3%.

November’s NAHB Housing Market Index was unchanged from October’s reading of 54.

October’s Existing Home Sales fell 3.2% to an annual pace of 5.12M from September’s pace of 5.29M.

November’s Philadelphia Fed Manufacturing Survey fell to 6.5 from October’s 19.8.

November’s Markit Manufacturing PMI (prelim.) rose to 54.3 from October’s 51.8.

September’s Business Inventories rose 0.6% from August’s +0.4%.

October’s PPI fell 0.2% from September’s -0.1%. Core PPI rose 0.2% from September’s
+0.1%..

Initial Jobless Claims for the week ending November 15th fell by 21K to 323K, their lowest level since September. Continuing Jobless Claims for the week ending November 9th rose by 66K to 2,876K.

US stocks rose, capping a seventh week of gains for the Standard & Poor’s 500 Index, after the pace of hiring increased and drugmakers rallied on favorable decisions by European regulators. The S&P 500 to a fresh record, registering a 27% gain for the year, poised to be the biggest annual increase since 1998.

Canada
S&P/TSX Composite -0.03% (13,478.34)

Canadian stocks rose at the end of the week, paring most of the previous losses, as precious metals producers rallied and data showed consumer spending in September jumped more than projected.

October’s CPI fell 0.2% from September’s +0.2%. Annual inflation slowed to 0.7% from September’s 1.1%, putting the inflation rate below the Bank of Canada’s target range. Core CPI slowed to 1.2% y/y from September’s 1.3% y/y.

September’s Retail Sales rose 1.0%, more than three times faster than economists forecast, from August’s +0.1%. Retail Sales ex. Autos were unchanged from August, when they rose 0.5%.

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