The core U.S. consumer price index rose by less than expected yesterday, easing concerns of inflation. The overall CPI, however, rose by the expected amount. The costs of used cars, apparel, and transportation services all declined since the last report in February.
The Chinese manufacturing PMI hit 50.6, its lowest level of expansion since May 2020 as COVID-19 disrupted factory activity. The Lunar New Year break potentially contributed to the decline, as well as increasing raw material costs.
Gold kicks off the first week of 2021 reaching its highest level since November 2020 by surpassing US$1,900 early in today’s trading.
Markets rose as a reaction to Trump's signing of the Stimulus Bill, even though he had previously refused to do so. The bill will provide financial aid to people and institutions, as well as funding for vaccines and other health measures.
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