“Losers average losers.” …unknown

1. US Inflation Stays Firm for Third Month With 0.3% Core CPI Gain — the so-called core consumer price index — which excludes food and energy costs — increased 0.3% for a third month, Bureau of Labor Statistics figures showed Wednesday. Over the last three months it rose at a 3.6% annualized rate, marking the fastest pace since April, according to Bloomberg calculations. Economists see the core gauge as a better indicator of the inflation trend than the overall CPI. The headline measure rose 0.2% for a fourth month and 2.6% from a year before, marking the first acceleration on an annual basis since March. The BLS said shelter accounted for over half of the overall monthly advance.
2. Wholesale prices rose 0.2% in October, in line with expectations — the producer price index, which measures what producers get for their products, increased a seasonally adjusted 0.2% for the month, up one-tenth of a percentage point from September though matching the Dow Jones consensus forecast. On a 12-month basis, headline wholesale inflation was at 2.4%.
Excluding food and energy, core PPI rose 0.3%, also one-tenth more than September and also matching expectations. The 12-month rate was at 3.1%.
3. Solid Retail Sales Show Strength of U.S. Consumer — the Census Bureau said Friday that retail sales gained 0.4% in October from September, better than economists’ forecasts for a 0.3% increase. Sales rose 2.8% on an annual basis.
Demand for cars and car parts helped push the headline figure higher. Spending at car and parts retailers rose by 1.6% in October from the prior month. Indeed, when stripping out the effects of car dealers and gasoline stations, sales ticked up by 0.1%, below expectations for a 0.3% increase. Categories that grew in October include electronics and appliances stores, which gained by 2.3%, and building material suppliers, up 0.5%, likely reflecting the beginning of hurricane-reconstruction efforts.

The week ahead — Economic data from Econoday.com:

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