Investors are coming off a strong session after a moderate improvement in core inflation in December’s consumer price index spurred a risk-on rally.
climbed 2.3% after posting a top- and bottom-line beat in the fourth quarter on strong investment banking activity and fixed income trading revenue.an earnings and revenue beat in the prior quarter. The results come a day after other financial peers such asThe earnings season is off to a strong start overall, with 77% of the companies that have reported thus far beating expectations, per FactSet.
In a CNBC interview, the policymaker said he expects inflation to ease enough to allow the Fed to cut multiple times this year, beginning sooner than the market expects, though he said it will still depend on how the data plays out. Senior investment strategist Daniel Skelly said in a note to clients Thursday that his team is adding Goldman Sachs to its US model portfolio, but reducing its exposure to BlackRock.
Miscellaneous store retailers saw a 4.3% gain, while sporting goods, musical and book stores reported a 2.6% increase and gasoline station sales were up 1.5%. Building material and garden stores posted a 2% decline while bars and restaurants saw a 0.3% pullback.for the week ending Jan. 11 totaled 217,000, an increase of 14,000 from the previous week and higher than the forecast for 210,000. Continuing claims, which run a week behind, declined slightly to 1.86 million.
Philip Morris shares were little changed in Thursday's premarket, but have slid 1.5% in the new year. That marks a pullback after rallying nearly 28% in 2024.
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