US consumer spending slows
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European shares steadied on Friday after three sessions of gains put them on track for a weekly rise, while investors awaited a key U.S. inflation reading. The pan-European STOXX 600 index rose 0.2% to 580.
Key monthly metrics from the US government continue to be released now that the shutdown has ended. Next up: September wholesale inflation and retail sales.
US consumer pricing and sentiment reports released Friday pointed to lingering questions about affordability as the calendar moves towards the peak of the festive season.
Global markets were mostly higher, with the execption of Japan, ahead of the U.S. personal consumption expenditures price index, the Fed’s preferred measure of inflation.
U.S. consumers’ mood improved slightly this month, with worries about inflation easing a bit, but remains gloomy
The income growth level is similar to the rate seen in the early 2010s, when the unemployment rate was stuck at 7% and slow to come down, according to a study.
Inflation has helped set back income growth to levels comparable to the slow recovery from the Great Recession more than a decade ago, according to an analysis of bank account data from the JPMorgan Chase Institute.
US equities advanced on Friday as traders assessed a new inflation reading and prepared for next week’s Federal Reserve decision. Major indexes posted moderate