U.S. inflation in January climbed by the most in nearly 4-1/2 years. The Consumer Price Index, excluding the volatile food and energy components, increased 0.3% last month. In the 12 months through January, the CPI advanced 2.2%, the largest increase since June 2012. Last month, the rental index increased 0.3%, medical costs climbed 0.5%. Apparel prices were up 0.6% and prices for cars advanced 0.3%. Gasoline prices fell 4.8%, while food prices were unchanged. (Labor Department)
Lattice Semiconductor climbed nearly 20% last week on hints the Portland company has signed up Apple as a major client. Lattice makes programmable computer chips for industrial and consumer electronics. Its biggest customer is Samsung. Lattice became Portland's biggest tech company in 2015 when it moved its headquarters from Hillsboro to the U.S. Bancorp Tower. (Oregon Live)
Another step toward easy money. Bank of America is rolling out a new mortgage with down-payments of as low as 3%. This represents an end run around the FHIC that punished the bank for making errors on similar loans during the financial crisis. (WSJ)
Oil is up $1.31 at $31.00 a barrel.
Gold is down $20 at $1211 a Troy ounce.