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Earnings reports are an integral part of an investor’s due diligence when researching a company. It is important to understand that not all earnings announcements are the same. Our blog post will explain how earnings announcements are handled and displayed in Stock Rover.
The U.S. Bureau of Labor Statistics reported the consumer price index increased 0.5% in January, an accelerated pace over the (+0.1%) and (+0.2%) posted for the prior two months. Over the last 12 months, the all-items index is up (+6.4%) before seasonal adjustment as compared to (+6.5%) in December. This marks the seventh straight month of a cooling in the annual inflation rate since it peaked at 9.1% in June. The index for shelter was the largest contributor to the monthly all items increase, accounting for nearly half of the 0.5% monthly reading and 60% of the 6.4% annual inflation rate. The shelter index increased (+0.7%) in January. The indexes for food (+0.5%), gasoline (+2.4%), and natural gas (+6.7%) also contributed. The indexes for transportation (+0.9%), apparel (+0.8%), electricity (+0.5%), and new vehicles (+0.2%) all saw increases. Indexes for user cars and trucks (-1.9%) and medical services (-0.7%) both saw decreases. Core CPI inflation rose (+0.4%) in January, equaling the upwardly revised (+0.4%) for the previous month. The annual rate of core CPI inflation is now at 5.6%, down slightly from 5.7% in December. The shelter index is up 7.9% year over year and accounts for nearly half of the total increase in Core CPI.
The Commerce Department reported advance U.S. retail and food services sales surged 3.0% to $697.0B in January, a reversal from the (-1.1%) and (-0.6%) readings for the prior two months. January’s advance was the largest since March 2021 when a third round of stimulus checks were released. Retail sales which are adjusted for seasonal shifts but not inflation were up 6.4% year over year Total sales for the November 2022 through January 2023 period were up 6.1% year over year. Sales increased in virtually all categories with department stores (+17.5%), restaurants (+6.9%), and auto dealers (+5.9%) leading the way. In addition, home furnishings (+4.4%), electronics and appliance stores (+3.5%), miscellaneous retail (+2.8%), clothing (+2.5%), health and personal care (+1.9%), and internet retailers (+1.3%) all saw increases. Sales at gasoline stations were flat. Excluding autos and gasoline, sales were up (+2.6%) for the month. Excluding autos, sales increased (+2.3%). Core retail sales, a measurement that excludes spending on autos, gasoline, building materials, and food services increased (+1.7%) in January.
The Labor Department reported that the Producer Price Index for final demand increased by a seasonally adjusted 0.7% in January, this follows revised (-0.2%) and (+0.3%) reported for the prior two months. The PPI is seen as a bellwether for inflation as it measures what suppliers are charging businesses. The PPI index continued to decelerate to an annualized (+6.0%) in January, this follows (+6.5%), (+7.3%), and (+8,2%) reported for the prior three months. The high-water mark was set in March 2022 at (+11.7%). Final demand prices for goods advanced 1.2%, the most in seven months, significantly contributing to the headline number. Nearly one-third of that increase was attributable to a (+6.2%) increase in the price of gasoline. The final demand index for food fell (-1.0%), as the cost of eggs (-12.7%) and fresh and dry vegetables (-33.5%) both dropped significantly. Year over year food prices moderated to an annualized (+11.6%). Final demand prices for services increased (+0.4%) matching December. A major factor behind the rise in prices for services was the index for hospital outpatient care, which jumped (+1.4%). Excluding food, energy, and trade services, the so-called core PPI increased (+0.6%) in January, the largest monthly rise since March 2022. The core PPI continued to decelerate to an annualized (+4.5%) in January, this follows (+4.7%), (+4.9%), and (+5.5%) reported for the prior three months. The high-water mark was set in March 2022 at (+7.1%).
Tuesday February 21 – Existing Home Sales (MoM) (January)
Friday February 24 – PCE Price Index (MoM) (January)
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