Stocks Climb as January Jobs Growth Eases Economic Concerns

“The latest news on consumer spending did little to change the outlook for another rate cut by the Federal Reserve, still priced in the Fed funds futures market for the next such move at the June 17 meeting,” said Gary Schlossberg, global strategist at Wells Fargo Investment Institute.Economic data released on Tuesday showed that U.S. retail sales were unchanged m/m in December, weaker than expectations of +0.4% m/m, and core retail sales, which exclude motor vehicles and parts, were unchanged m/m, weaker t ...