The markets started the week relatively flat, but by Tuesday, stocks began to climb as blue-chip energy brands led the way up on a jump in crude oil prices. The Retail Sales report released showed sales exceeded expectations in October, with sales increasing by 0.8%, beyond an expected 0.6% uptick. September’s reading was revised higher to 1% growth. Indices closed with mixed moves on Wednesday, with both the Dow Jones Industrial Average and the S&P 500 Index ending in the red zone, while the NASDAQ added some points. Financial brands pared recent gains while technology stocks rebounded. In economic releases, the Energy Information Administration numbers showed an addition of 5.3 million barrels in the last week versus expectations of 1.5 million barrels, which resulted in a slip in West Texas Intermediate Crude prices. According to the latest report from the Federal Reserve, Industrial Production remained unchanged in October after decreasing 0.2% in September. Looking elsewhere, the U.S. Producer Price Index remained unchanged in October versus an expected increase of 0.3%. The markets closed with gains on Thursday thanks to a variety of economic news. Initial jobless claims decreased, with new claims falling by 19,000 to 235,000, marking a 43-year low. Labor Department data showed the Consumer Price Index ticked up in October, as headline CPI climbed by 0.4% versus a forecast for a 0.3% gain. The core CPI, which excludes food and energy, rose 0.1%. Markets closed in the red zone on Friday with blue chips trading lower amid mixed earnings results.
