Preview -- Barron's
2023年1月7日 - 12:00PM
Dow Jones News
The Federal Reserve reports consumer credit data for November.
In October, total consumer debt increased at a seasonally adjusted
annual rate of 6.9% to a record $4.73 trillion. Revolving credit,
which is mostly credit-card debt, jumped 10.4% as more consumers
tap credit to pay for living expenses.
The National Federation of Independent Business releases its
Small Business Optimism Index for December. Consensus estimate is
for a 91.5 reading, roughly even with the November data. The index
remains mired near eight-year lows from last summer as
small-business owners continue to cite inflation as their No. 1
The Mortgage Bankers Association releases its Market Composite
Index, a measure of mortgage loan application volume, for the week
ending on Jan. 6. Mortgage activity declined sharply in the second
half of last year as interest rates surged. In October, mortgage
activity hit a 25-year low.
The Department of Labor reports initial jobless claims for the
week ending on Jan. 7. In December, jobless claims averaged
217,500, still low historically. Despite the many announcements of
layoffs in the tech and real estate sectors, the job market remains
tight, as the Bureau of Labor Statistics this past week reported
the unemployment rate edging down to 3.5%, near a half-century low.
The U.S. economy added 4.5 million jobs last year, or about 375,000
a month on average. The second half of 2022 did see a slowing of
job growth from the first half's blistering pace but nothing that
portends a recession in 2023, which the majority of economists are
The BLS releases the consumer price index for December.
Economists forecast a 6.5% year-over-year increase, after a 7.1%
jump in November. The core CPI, which excludes volatile food and
energy prices, is expected to rise 5.7%, slightly slower than the
6% rate of growth previously. The CPI peaked at 9.1% in June of
2022, while the core CPI hit its top at 6.6% in September. The past
two CPI reports have seen a sharp deceleration in inflation, but
the Federal Open Market Committee has stressed that it needs to see
many months of data before even considering an end to its
interest-rate hiking campaign.
Bank of New York Mellon, BlackRock, Delta Air Lines, First
Republic Bank, and UnitedHealth Group release earnings.
The University of Michigan releases its Consumer Sentiment index
for January. The consensus call is for a 60.5 reading, about one
point more than previously. In December, consumer expectations for
the year-ahead inflation hit an 18-month low of 4.4%.
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(END) Dow Jones Newswires
January 06, 2023 21:45 ET (02:45 GMT)
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