Advance retail sales for November rose 1.3% month-over-month, compared to the Bloomberg forecast of an increase of 0.6%, while October’s 1.4% advance was revised to a 1.1% gain.
The Import Price Index increased 1.7% month-over-month for November, above the expected increase of 1.2%. Year-over-year, import prices are higher by 3.7%.
The preliminary University of Michigan’s Consumer Sentiment Index advanced more than expected, increasing from 67.4 in November to 73.4 in December, versus the Bloomberg forecast, which called for a slight increase to 68.8.
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The Dow Jones Industrial Average rose 65 points (0.6%) to close at 10,472, the S&P 500 Index added 4 points (0.4%) to 1,106, while the Nasdaq Composite lost 1 point (0.0%) to 2,190. Crude oil was $0.67 lower at $69.87 per barrel, and the Bloomberg gold spot price decreased $15.70 to $1,115.30 per ounce. For the week, the DJIA gained 0.8%, while the S&P 500 Index was flat, and the Nasdaq Composite decreased 0.2%.
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