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Wall Street's sizzle post-election fizzled by Friday's close. The major indices fell sharply on the day and week after a dip in some sectors, strong retail sales, and hawkish comments from the Fed's chair.
The market moving report on retail sales made clear yet again that consumers are not shy about their spending. October's sales beat the estimates, and it turns out September was better than we thought.
The march to the Fed's desired target on inflation hit a pothole last month. While the CPI reading did come in as expected, it's warmer than the central bank wants, and could upend the pace of future cuts.
Consumers weren't alone getting dinged by elevated costs last month. The latest read on wholesale price increases would also show an uptick In October, yet more proof that inflation refuses to go quietly.
After a wave of uncertainty, the markets will return to a more typical schedule in the coming week. The headliners will be Nvidia's earnings report late Wednesday and the new sentiment survey on Friday.
The debate over the likelihood of a 'soft landing' seemed mostly settled months ago. Now, it's back and tariffs top the list of concerns. This report details why this possible shift in policy is raising alarms.
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