Retail Rebound

To view this email as a web page, click here.

What's Happening Today

Good morning! It's Kristin with your daily morning digest.

Retail sales rose more than expected last month, climbing 3.8% in January, according to the latest data from the Census Bureau. We've been talking a lot about inflation lately, and despite rising costs for just about everything, it hasn't slowed U.S. consumers down. After a 2.5% decline in retail sales in December, January's figures show a rebound in consumer spending in the biggest jump in retail sales since March 2021.

Figures from the Bureau of Labor Statistics show that prices might not be coming down anytime soon: import prices rose 2% in January, the biggest spike in monthly prices since April 2011. Over the last year, prices of imported goods rose 10.8%.

And we are only days away from a potential government shutdown, as Senate Majority Leader Chuck Schumer (D-NY) called on the Senate to pass a short-term funding gap to keep the government running past the Feb. 18 deadline. Congress has been unable to pass a budget bill since the government's fiscal year ended back in October.

A special thank you to all who tuned in last night to watch our third Instagram Live conversation on homebuying. For anyone that missed the discussion, you can watch it here. Don't miss our final conversation next week on Tuesday, Feb. 22, at 4 p.m. Eastern, when we talk to Patrice Washington, host of the "Redefining Wealth" podcast, author, and #MoneyMaven of the "The Steve Harvey Show."

- Kristin

Editors' Picks

Retail Sales Came Back in January (The Balance)

Senate Seeks Offramp as Funding Deadline Nears (The Hill)

U.S. Import Prices Rebound Sharply in January (Yahoo Finance)

Some Lawmakers Want To Halt Gas Tax Amid High Inflation. Others See a Gimmick (The Wall Street Journal)

Homebuilders' Confidence Falls as They Wait Months for Cabinets, Garage Doors and Appliances (CNBC)

Off the Charts

Beware the "stealth bear" that's contributing to increased volatility in the stock market so far this year, analysts warn.

Even though major stock indexes haven't fallen yet into official "bear" territory—that's defined as a drop from their peaks of at least 20% for a sustained period—some analysts are pointing out a weakness lurking below the surface that may be causing some of the market fluctuations.

Number of the Day

12% - That's how much the rent on a single-family home rose in the year through December, the most in at least 16 years, by one measure.

SPONSORED BY DISCOVER PERSONAL LOANS

Manage Debt and Boost Financial Wellness

The start of a new year is a great time to strengthen good money habits. These tips can help you reduce debt and take charge of your finances. LEARN MORE >

More From The Balance

How Often Can You Apply for a Credit Card?

Applying for credit cards can both hurt and help your credit score, among other things. If you're looking to apply for your next card, here's everything you need to know.

READ MORE >

What Is Trend Analysis?

Trend analysis uses technical indicators to help investors identify price trends to support their investment decisions. Trends can go up, down, or sideways.

READ MORE >

What You Need To Know About Cash App Taxes

Cash App acquired Credit Karma Tax, so you can now do your taxes through Cash App Taxes. Learn how it works and how former Credit Karma customers are affected.

READ MORE >