U.S. December Retail Sales "Stall," Consumption and Employment Both Cool Down

U.S. December retail sales increased by only 0% month-over-month, significantly below the expected 0.4%, with the previous value at +0.6%; excluding autos, it remained flat.
Core retail sales declined by 0.1%, marking the first negative reading in nearly three months, indicating a clear weakening of consumer momentum.
Meanwhile, the U.S. Q4 Employment Cost Index (ECI) rose by only 0.7%, below expectations, with wage and benefit growth slowing down in tandem.
Market interpretations suggest that both consumption and employment are cooling, further reinforcing expectations of a Federal Reserve rate cut. After the data release, U.S. stock futures weakened, the dollar retreated, and Bitcoin experienced increased short-term volatility, with market sentiment remaining cautious.
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