Consumer debt rises in November
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 8 January 2024
⏱️ 1 minutes
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Summary
Stocks climb; delinquencies are ticking up; inflation expectations fall; spending expectations grow at slower pace.
Transcript
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| 0:00.0 | This is the Marketplace Minute. I'm Justin Ho. |
| 0:05.0 | Stocks closed up on Monday. The Dow gained 6 tenth percent, the S&P rose 1 and 4 tenths percent, |
| 0:11.5 | and the NASDAQ added 2 and 2 tenths percent. |
| 0:15.0 | Consumers piled on more debt in November than in October, that's according to the Federal Reserve. |
| 0:20.0 | Separate data has shown that delinquencies are rising too, especially among younger consumers and people with low incomes. |
| 0:27.0 | But economists say delinquencies probably won't spike if the unemployment rate stays low. |
| 0:33.0 | People surveyed by the New York Federal Reserve said they expect less inflation than in previous surveys. |
| 0:38.0 | People's one-year inflation expectations are at their lowest since January of 2021. The same report found that people |
| 0:45.6 | think they'll spend more over the next year, but not by as much as they expected last month. |
| 0:50.0 | Still, people spending expectations are higher than before the pandemic. |
| 0:55.0 | I'm Justin Ho, with the marketplace minute. You're going to. |
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