The producer-price index, a measure of the prices businesses receive for their goods and services, rose a seasonally adjusted 0.3% on the month. Excluding the often-volatile food and energy categories, producer prices were up a seasonally adjusted 0.1% in December. Nearly half of the December increase was attributable to gasoline prices, which jumped 16.1%, the Labor Department said.
Manufacturing activity in New York state expanded in January at a softer pace than that of the previous month, data from the Federal Reserve Bank of New York showed Friday. The Empire State Manufacturing Survey's general business conditions index decreased to 3.5 in January from 4.9 in December. The reading misses expectations from economists polled by The Wall Street Journal, who had expected the indicator to increase to 6.0.
U.S. retail sales declined further in December as renewed measures to slow the spread of COVID-19 undercut spending at restaurants and reduced traffic to shopping malls, the latest sign the economy lost considerable speed at the end of 2020. Retail sales dropped 0.7% last month, the Commerce Department said on Friday.
U.S. retail sales declined further in December as renewed measures to slow the spread of COVID-19 undercut spending at restaurants and reduced traffic to shopping malls, the latest sign the economy lost considerable speed at the end of 2020. Retail sales dropped 0.7% last month, the Commerce Department said on Friday.
Canada's main stock index futures fell on Friday, as weakness in oil prices and fears of tighter lockdowns as coronavirus cases rise globally outweighed optimism around a U.S. stimulus plan outlined by U.S. President-elect Joe Biden.
- U.S. stock index futures slipped on Friday as optimism over a $1.9 trillion stimulus plan unveiled by incoming President Joe Biden faded with investors turning to quarterly reports from major Wall Street banks.
* Futures down: Dow 0.44%, S&P 0.38%, Nasdaq 0.32% By Devik Jain. U.S. stock index futures slipped on Friday as optimism over a $1.9 trillion stimulus plan unveiled by incoming President Joe Biden faded with investors turning to quarterly reports from major Wall Street banks.
* Biden unveils $1.9 trillion stimulus plan. * Resurgence of virus cases in China weigh. * U.S. imposes ban on nine more Chinese firms. * Powell sees no reason to alter Fed's stance. * Oil falls, gold rises on U.S. stimulus. By Tom Arnold and Andrew Galbraith.
Global shares stumbled on Friday as hopes of a fiscal boost provided by a $1.9 trillion U.S. stimulus plan were smothered by the prospect of stricter lockdowns in France and Germany and a resurgence of COVID-19 cases in China.
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