2018 Economic Calendar
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Market Reflections  

January 12, 2018
A solid 0.3 percent gain for the core CPI, one of the very strongest in recent years, leads a very solid day of economic news. Housing costs helped lift the core and are a reminder that housing as a sector is pivoting sharply higher. Retail sales proved solid in December at a 0.4 percent monthly gain that followed a 0.9 percent gain in November in what proved to be a strong holiday season.

Stocks rallied sharply in the session with the Dow posting a new record close at 25,803 for a 0.9 percent gain on the day and a 2.0 percent gain on the week. Oil, at $64.40, gained 4.5 percent on the week with gold, at $1,339, rising 1.4 percent. The dollar index fell 1.1 percent on the week with Treasury yields moving noticeably higher, up 8 basis points for the 10-year to 2.55 percent and up 5 basis points for the 2-year to 2.01 percent.

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