Home Depot posts better-than-expected quarter despite inflation
Home Depot reported third-quarter earnings Tuesday, beating analyst expectations.
Home Depot reported third-quarter earnings Tuesday, beating analyst expectations.
Walmart, the nation's largest grocer, benefited from food sales, as apparel and electronics sales slowed.
The consumer price index was expected to rise 0.6% from September to October and 7.9% from a year ago, according to Dow Jones estimates.
Federal Reserve officials welcomed Thursday's inflation news but cautioned against getting too excited by the data.
The third-quarter contraction was less than the -0.5% expected by analysts.
The University of Michigan Survey of Consumers posted a 54.7 reading for November, down 8.7% from the previous month's reading.
Americans grew more worried about inflation in the October, with fears emanating primarily from an expected burst in gasoline prices.
"I think it will probably be appropriate soon to move to a slower pace of rate increases," she told Bloomberg News in a live interview.
The producer price index was expected to show a monthly increase of 0.4% in October, according to Dow Jones estimates.