Domestic data dominated headlines last week, but it was all about jobs… The unemployment rate fell to 8 point 5 percent in December as 200- thousand jobs were created. Transportation and retail saw the biggest gains. On the other hand African-American unemployment rose to 15 point 8 percent. Black teen unemployment jumped to 42 point 1 percent, remaining by far the highest of any group. In the week ahead, we kick off earnings season with reports from Alcoa and JP Morgan and we expect several economic reports.
We will gain insight on the economy with the Fed’s Beige Book— which looks at the economic trends from the Fed’s twelve districts such as Atlanta, Chicago and Dallas. The last report showed the economy continues to improve at a moderate pace driven by consumer spending, tourism and manufacturing growth, but hiring remained subdued.
We’ll check the pulse of small business with the January survey from the N-F-I-B. In December small business optimism rose nearly 2 points at a 92 reading. This was the second straight month of gains as businesses were more confident on their sales outlook.
Are you feeling better about the economy? We will find out with the preliminary consumer sentiment report for January. In December sentiment improved to a 69 point 9 reading— its highest level in six months. As consumers were more upbeat on their outlook for the economy. Consumer sentiment is a gauge of consumer spending…
And that’s your CNBC Market Look Ahead for theGrio.com.. I’m Shartia Brantley.