"January Retail Sales Plummet, Raising Economic Concerns"
TL;DR Summary
Despite a Wall Street rally and positive economic indicators, weak U.S. consumer spending data, with a significant drop of 0.8% in January, raises concerns about the strength of the economy. Ford CEO Jim Farley urged investors to focus on Ford's "Pro" fleet business over Tesla, while Russian leader Vladimir Putin expressed a preference for Joe Biden as U.S. president. Additionally, Nvidia's success in AI investments and Morgan Stanley's identification of Asia-Pacific AI beneficiaries highlight the ongoing impact of artificial intelligence on global markets.
Topics:business#financeeconomy#ford-pro-fleet-business#nvidias-ai-growth#russian-leader-vladimir-putin#us-consumer-spending#wall-street-rally
- CNBC Daily Open: Weak U.S consumer spending spells caution CNBC
- Retail sales tumbled 0.8% in January, much more than expected CNBC
- America's Economy Slowed—It Probably Won't Stumble The Wall Street Journal
- Retail sales post steepest decline since March 2023 Yahoo Finance
- Retail sales tumble much more than expected in January Fox Business
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