US inflation cooled broadly in March, indicating some relief for consumers prior to widespread tariffs that risk contributing to price pressures.
In terms of government data releases, the focus for traders and investors this week was on the monthly payrolls and unemployment report released earlier today.
The third and final revision to fourth quarter 2024 gross domestic product (GDP) showed that the economy was performing well in the last three months of the year.
US retail sales rose by less than forecast in February and the prior month was revised lower, adding to concerns of a pullback in consumer spending.
Consumer prices rose 0.2% in February CPI. Excluding food and energy components, the consumer price index (CPI) also rose 0.2% according to data released Wednesday by the Bureau of Labor Statistics.
US job growth steadied last month while the unemployment rate rose — a mixed snapshot of a job market hanging on the balance of quickly changing government policy.