Inflation at the producer level fell 0.2% in November; a lot of the decline is driven by falling oil. No inflation on our horizon. (Bloomberg)
The National Retail Federation says consumers are on track to meet its forecast for 4.1% sales growth this holiday season. The growth forecast comes despite a 5% decline in Black Friday sales.
American consumer confidence reached a seven-year high last week as job gains and plunging fuel costs propelled the economy and boosted spirits. The Bloomberg Consumer Comfort Index increased to 41.3, its highest since December 2007.
There could soon be one less place to shop soon. Activist investor Starboard Value wants to merge rival office-supply chains Staples and Office Depot. Analysts and investors say a merger between the two companies could generate anywhere from $1.4 billion to $2 billion in increased profits. (CNBC)
Household net worth declined in the third quarter for the first time since the third quarter of 2011 according to the Federal Reserve. Net worth declined $141 billion to $81.35 trillion. Declining stock prices were offset by a $214 billion rise in the value of real estate holdings. Total debt rose 4.4%.
Join us Saturday at 10 for Financial Focus radio when we talk about the dark side of declining oil prices.