Consumer Price Index, Jobless Claims Rise Thursday, September 15, 12:28 PM ET
There is a slew of economic data out today for the market to digest. The Labor Department said the consumer price index rose by a seasonally adjusted 0.4% in August, or 0.2% excluding food and energy. The market may be concerned that inflated prices may stunt the Federal Reserve’s ability to take action to buoy the economy. The Labor Department also said today initial jobless claims rose by 11,000 to 428,000 in the week ending September 10.
The four-week moving average of first-time filings for unemployment benefits also rose, up 4,000 to 419,500. A check of some consumer-sensitive stocks:
The First Trust Consumer Discretionary AlphaDex Fund (AMEX:FXD) is trading up over 0.8%, on the backs of AutoNation (NYSE:AN) and Ulta Salon Cosmetics & Fragrance (NASDAQ:ULTA).
The Consumer Discretionary Select Sector SPDR (AMEX:XLY) is trading up 0.7% Thursday with top stocks McDonald’s (NYSE:MCD) and Amazon.com (NASDAQ:AMZN).
Representing the general market, the SPDR S&P 500 (AMEX:SPY) trades up over 0.6%.
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