On Thursday Retail Sales and Unemployment Claims figures were released. U.S. retail and food services sales for January, adjusted for seasonal variation and holiday and trading-day differences were $439.8 billion, a decrease of 0.8% from the previous month, but up 3.3% above January 2014. Analysts were anticipating smaller decrease by 0.4%. Total sales for the November 2014 through January 2015 period were up 3.8% from the same period a year ago.
Separate report on Unemployment Claims showed that in the week ending February 7, the advance figure for seasonally adjusted initial claims was 304,000, an increase of 25,000 from the previous week's revised level. Analysts were predicting no change. The 4-week moving average was 289,750, a decrease of 3,250 from the previous week's revised average.
Friday's US session was marked by Consumer Sentiment data. The Thomson Reuters/University of Michigan preliminary sentiment index decreased to 93.6 from a final January reading of 98.1 that was the highest since the start of 2004. No change was expected this month. Prices at the gas pump have climbed this month from a six-year low, and the survey showed more Americans were less upbeat about the labor market after hearing of dismissals in the oil patch.
This week markets will be looking at:
Empire State Manufacturing Index (Tuesday 14:30)
NAHB Housing Market Index (Tuesday 16:00)
Building Permits/Housing Starts (Wednesday 14:30)
Industrial Production (Wednesday 15:15)
FOMC Meeting Minutes (Wednesday 20:00)
Unemployment Claims (Thursday 14:30)
Philly Fed Manufacturing Index (Thursday 16:00)
Flash Manufacturing PMI (Friday 15:45)
