米ＣＰＩ反響〕基調的には鈍化傾向＝スパルタン・キャピタルのカーディロ氏
February 14, 2023
Class CNBC Interview 2/16/23
February 16, 2023By Johann M Cherian and Sruthi Shankar
A trader works on the trading floor at the New York Stock Exchange (NYSE) in New York City, U.S., January 27, 2023. REUTERS/Andrew Kelly
- Summary
- Companies
- Retail sales up 3% in Jan vs. est. of 1.8% rise
- TSM slides as Berkshire Hathaway chops stake
- Devon Energy drops to S&P 500 bottom on profit miss
- Indexes down: Dow 0.59%, S&P 0.59%, Nasdaq 0.46%
Feb 15 (Reuters) – Wall Street’s main stock indexes fell on Wednesday after stronger-than-expected retail sales data offered more evidence of resilience in the U.S. economy, fueling worries that the U.S. Federal Reserve could stick to its rate-hike campaign.
A Commerce Department report showed retail sales surged 3% in January, driven by purchases of motor vehicles and other goods. Economists polled by Reuters had estimated a sales would increase by 1.8%.
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“These numbers (retail sales) beat consensus by a long shot and it just shows that the consumer is still in a good spot,” said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.
“As a result of that, you see the yields are backing up and the dollar is strengthening. Obviously, if this trend continues, it just reinforces the notion that the Fed is going to continue to raise rates.”
The benchmark S&P 500 (.SPX) came under pressure on Tuesday after data showed U.S. consumer prices accelerated in January, boosting expectations that the U.S. central bank will raise the policy rate at least twice more this year to the 5-5.25% range.
Still, the index is up 7.7% so far this year after a 19.4% slump in 2022 as investors snapped up battered growth stocks, while a better-than-expected earnings season added to the cheer.
