US Economy Beats Expectations: Inflation, Spending, and Stock Market Update

Inflation and Economic Growth

• 📈 Overall inflation rose 2.8% in November compared to the previous year, according to the Federal Reserve's preferred consumer price measure.
• 💰 Consumer spending in November exceeded expectations, contributing to stronger-than-forecast U.S. economic growth.
• 📊 The U.S. economy grew at a clip of 4.4% last summer, largely driven by robust consumer spending.

Labor Market and Geopolitics

• ⚠️ Initial jobless claims remained steady at approximately 200,000 last week.
• 🌍 Geopolitical tensions appear to be easing, following President Trump's retraction of threats regarding new tariffs on Europe and attempts to acquire Greenland.

Stock Market Performance

• 🚀 The stock market is experiencing solid gains, with the Dow and Nasdaq both up by about three-quarters of 1%, and the S&P up half a percent.

Sundance Film Festival

• 🎬 The Sundance Film Festival has commenced its final edition in Park City, Utah, without its late founder, Robert Redford.
• 📍 The festival will relocate to Boulder, Colorado, in 2027.