The latest report revealed by the Labor Department showed that U.S. inflation rose in November from the pace it set a month earlier, going up for the second month in a row.
Read More U.S. Inflation Increases 2.7% In November, Going Up For Second Consecutive Month In A Row
Consumer prices increased by the most in seven months, but that is unlikely to discourage the Federal Reserve from delivering a third consecutive interest rate cut next week.
Read More US consumer prices post largest gain in seven months; cost of rent subsides
U.S. unit labor costs grew far less than initially thought in the third quarter, pointing to a still favorable inflation outlook even though price increases have not moderated much.
Read More Sharp downgrades to US unit labor costs bode well for inflation outlook
President-elect Donald Trump stated that he will not remove Federal Reserve Chair Jerome Powell.
Read More Trump Says He Won’t Try To Remove Fed Chair Jerome Powell Despite Past Disagreements
The S&P 500 and the Nasdaq were slightly lower on Monday after notching record closing highs in the previous session, as losses in chip stocks including Nvidia weighed.
Read More S&P 500, Nasdaq marginally lower as chip stocks fall; focus on inflation data
U.S. job growth fought back in November with strong payroll gains after the poor October jobs report reflected labor disruptions due to hurricanes and union strikes.
Read More November Sees U.S. Job Growth Of 227K, Surpassing Projections