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Newspaper
The Gazette
Location
Medina, Ohio, United States of America
Date
Dec 21, 2024
Page
11
U S inflation gauge shows a 0.1 percent monthly gain from October to November with core prices up 0.1 percent. Year over year inflation edges to 2.4 percent while core remains at 2.8 percent. Consumers spend 0.4 percent more, and incomes rise 0.3 percent as the economy grows solidly.
AAA expects over 119 million Americans to travel at least 50 miles from home between now and New Year’s Day, a holiday travel record surpassing 2019. Airlines for America forecasts 54 million passengers over a 19 day period ending Jan 6, up about 6 percent from last year.
U.S. stocks rose Friday led by Nvidia and Big Tech, turning a potential worst week of the year into a downbeat 2 percent loss for the period. The S&P 500 up 1.1 percent while the Dow gained 498 points and the Nasdaq rose 1 percent. Inflation data eased bets on rate cuts next year, though traders see mixed chances of zero to two cuts in 2025. Washington moved toward a potential shutdown as House rejected Trump’s plan to keep the government fully funded, signaling uncertainty in policy and inflation risk.
Big Lots continues to operate online and in stores while pursuing an alternative sale. the Columbus retailer filed for Chapter 11 in September hoping to sell substantially all assets to Nexus Capital but now aims to complete a going concern sale by early January. The company faces 50 percent discounts at all locations as it closes its 1,400 stores across 48 states.
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