Read the highlights of this week’s commentary from Helios:
- Consumer spending and income both rose in January, rising 1.8% and 0.6%, respectively. Increasing incomes helped spending, but consumers also increased their use of credit, while savings rates remain at some of their lowest levels of the last decade.
- The higher-for-longer thesis grew stronger, with both headline and core PCE inflation rising 0.6% in January, ahead of economists’ expectations.
- New home sales rose in January to the highest level in almost a year, though the gain was fueled by a 17.1% increase in theSouth.
- Stocks suffered through most of the short week, with the S&P 500 posting its worst week of the year so far, hurt by continued inflation fears and outlook concerns coming from both Home Depot and Walmart.
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