On a seasonally adjusted basis, the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.6% in January after rising 0.3% in December, the Bureau of Labor Statistics revealed. The index for all items less food and energy rose 0.3% in January after increasing 0.2% in December.

Real average hourly earnings decreased 0.5% in January, seasonally adjusted. Average hourly earnings increased 0.1%, and CPI-U increased 0.6%. Real average weekly earnings decreased 0.4% over the month.

The combined value of distributive trade sales and manufacturers’ shipments for December 2016, adjusted for seasonal and trading-day differences but not for price changes, was estimated at $1,356.0 billion, up 2.0% from November 2016 and up 5.2% from December 2015, the Census Bureau reported.

Advance estimates of U.S. retail and food services sales for January, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $472.1 billion, an increase of 0.4% from the previous month and 5.6% from January 2016. Retail trade sales were up 0.2% from December 2016, and up 5.6% from last year. Gasoline Stations sales were up 14.2% from January 2016, while Nonstore Retailers were up 12.0% from last year.

Wednesday, the Dow climbed 107.45 points (0.52%) to 20,611.86, the NASDAQ closed 36.87 points (0.64%) higher at 5,819.44, and the S&P 500 increased 11.67 points (0.50%) to 2,349.25. The Russell 2000 was up 7.55 points (0.54%) at 1,404.20, and the Wilshire 5000 gained 106.60 points (0.44%) to finish at 24,565.53.

On the NYSE, 3.1 billion shares traded, with a slight lead for advancing issues. On the NASDAQ, 3.0 billion shares changed hands, with a 1.3 to 1 ratio of advancers to decliners.

The price of the 10-year Treasury note was down 7/32, increasing its yield to 2.495%. The price of the 30-year Treasury bond decreased 11/32, bringing its yield up to 3.078%.

ON THIS DATE: In 1741, Benjamin Franklin published America’s second magazine, “The General Magazine and Historical Chronicle”. In 1857, the National Deaf Mute College was incorporated in Washington, D.C. It was the first school in the world for advanced education of the deaf. The school was later renamed Gallaudet College. In 1862, during the U.S. Civil War, about 14,000 Confederate soldiers surrendered to General Ulysses S. Grant at Fort Donelson, Tennessee. In 1883, “Ladies Home Journal” began publication. In 1923, Howard Carter unsealed the burial chamber of Egyptian Pharaoh Tutankhamen. The next day he entered the chamber with several invited guests. He had originally found the tomb on November 4, 1922. In 1937, Wallace H. Carothers received a patent for nylon. Carothers was a research chemist for Du Pont. In 1958, the first ironing board was patented by William Vandenburg and James Harvey. In 1968, in the U.S., the first 911 emergency telephone system was inaugurated in Haleyville, Alabama. In 1970, Joe Frazier began his reign as the undefeated heavyweight world champion when he knocked out Jimmy Ellis in five rounds.