U.S. Retail Sales Show Strong Growth

U.S. retail sales increased by 1.2% in September, exceeding economists’ expectations of a 0.8% rise. This marks the largest monthly gain since May, driven by robust consumer spending in the clothing and online sectors.

Inflation Rates Remain Steady

The inflation rate held steady at 3.2% year-over-year in September, according to the latest Consumer Price Index. Core inflation, excluding food and energy, also remained unchanged at 4.1%, indicating stable pricing pressures.

Job Market Continues to Strengthen

The Labor Department reported a decrease in unemployment claims, dropping to 215,000 last week, down from 230,000. This suggests ongoing resilience in the job market as businesses continue to hire amid economic uncertainty.

Global Oil Prices Surge

Global oil prices surged over 5% this week, reaching $90 per barrel, fueled by geopolitical tensions in the Middle East and supply cuts from major producers. Analysts predict further increases if instability continues.

Tech Stocks Rally Ahead of Earnings

Tech stocks saw a rally ahead of upcoming earnings reports, with the Nasdaq Composite rising by 2.5%. Investors are optimistic about robust results from major companies, especially in the semiconductor and software sectors.