U.S. Stock Indexes Down 2% in 2015; Retail Sales Down 0.9% in December
PUBLISHED ON: Jan 14, 2015
Stocks end the day down after a disappointing reading on December retail sales and multiple profit misses from earnings reports. Consumer purchases fell 0.9% in December when economists were expecting a 0.1% increase, this decrease was lead by gas station sales which was down 6.5% due to a drastic drop in pump prices. The Fed believes that the economy grew at a 'modest' to 'moderate' past last month as holiday sales were struggling in some regions. The Fed also said that, overall, hiring was up last month but payroll advances weren't prevalent nationwide.