Inflation cools as December spending slips 0.2 percent
The Commerce Department reports December prices rose 5.0 percent year over year, easing from 5.5 percent in November, while consumer spending fell 0.2 percent from November to December and was revised lower for prior months. Analysts say slower outlays support the Fed's goal of cooling inflation, with core prices rising 0.3 percent month to month and 4.4 percent from a year earlier.
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Strong week lifts stocks near highs as January rally steadies
Wall Street ended the week higher with the S&P 500 up 0.2 percent to 4070.56 and the Dow 28.67 points, led by American Express and Tesla. Intel and Hasbro fell after weak results, while inflation cools and Fed rate expectations loom. A resilient jobs market and earnings season add to mixed forecasts, with a potential mild recession seen this year.
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Chipotle seeks 15000 North America hires to staff spring
Roundup shows labor shortages hit U S restaurants as Chipotle aims to hire 15000 in North America to cover March through May busy season. Taco Bell and Starbucks post thousands of crew and barista roles while NRAs data show ongoing post pandemic shortfall.
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