U.S. import-price index rises for first time in six months
The numbers: The cost of U.S. imported goods rose 0.4% in December to mark the first...
The numbers: The cost of U.S. imported goods rose 0.4% in December to mark the first increase in six months, but there was little sign of intensifying inflationary pressures. Economists polled by The Wall Street Journal had forecast a 0.8% decline.
Higher natural gas prices offset the lower cost of oil and helped account for the surprise increase.
But the cost of most other imports such as autos, consumer goods, food and industrial supplies also advanced. Import prices minus fuel rose 0.4% last month.
Dow ends more than 200 points higher as inflation cools in line with forecasts
Stocks ended a choppy session with gains Thursday, finding support...
Stocks ended a choppy session with gains Thursday, finding support after the December consumer-price index showed inflation continued to slow, in line with forecasts, last month.The data appeared to reinforce market expectations the Federal Reserve will move slower to raise rates in 2023 after last year's aggressive tightening. Skeptics contend bulls are underestimating the Fed's resolve to hike the fed-funds rate, now at 4.25% to 4.5%, and above 5% and keep it there. The Dow Jones Industrial Average DJIA, +0.64% ended around 217 points higher, up 0.6%, near 34,190, according to preliminary figures. The S&P 500 SPX, +0.34% finished with a gain of 0.3%, near 3,983, while the Nasdaq Composite COMP, +0.64% advanced 0.6% to close near 11,001.
Q4 of 2022 rig additions driven by public shale drillers
An analysis by JPMorgan Chase reveals that public shale...
An analysis by JPMorgan Chase reveals that public shale producers deployed 18 rigs in the final quarter of 2022, setting themselves apart from their privately held peers, which idled 11 rigs during the same period. This discrepancy illustrates the uneven impact of cost inflation, supply chain bottlenecks and labor shortages on public and private players.
Egg prices saw the highest jump of all grocery items last year (49%), according to government data, forcing bored teens to go back to TPing and cyberbullying.
A lot less chickens were crossing the road last year…On top of high inflation all around, more than 43 million egg-laying hens died last year due to the worst avian flu outbreak in US history (leaving ~375 million total). The death toll was so high partly because if one bird in a farmer’s flock gets infected, the FDA requires all remaining birds to be killed zombie apocalypse style.
While prices are finally trending down, experts cautioned that we won’t be getting bargain eggs again until the avian flu is fully under control.
Disney park lovers’ complaints reached Mickey’s ears. After many of its parks’...
Disney park lovers’ complaints reached Mickey’s ears. After many of its parks’ biggest fans took umbrage at the rising costs of a visit, Disney has worked some magic to help guests pay less (though mostly without actually lowering entry prices). Disney said it will: stop charging for overnight parking, let Disney World annual passholders come to parks on weekday afternoons without a reservation, and expand the number of days lower cost tickets are available for Disneyland. But theme park backlash isn’t the only headache Disney is dealing with: An activist investor is trying to join the board, Disney revealed yesterday, as it elevated a Nike exec on its board to the chair position.
