Wall Street's main indexes were on track to open higher on Tuesday, as investors assessed softer-than-expected producer inflation to gauge the Federal Reserve's monetary policy trajectory this year. A Labor Department report showed the producer price index rose 3.
A gauge of wholesale inflation rose 0.2% in December from November, a softer reading than economists expected and a slowdown from the prior month. The producer-price index, published by the Labor Department on Tuesday,
US stocks gained after cooler-than-expected producer price index data soothed inflation concerns. The numbers on Tuesday showed wholesale inflation rose 0.2% in December on a monthly basis, compared to an estimated 0.4% increase. The reading climbed 3.3% from a year ago, below the projected 3.5% gain.
The producer price index, which measures the costs of goods traded between companies, rose 2.3% from the previous year to 122.6.
Producer prices rose less than expected in Dec, easing Fed's inflation concerns and providing relief to markets. Core PPI also flattened.
Learn about the latest Producer Price Index data for December 2024, showing a % increase from the previous month and meeting consensus expectations.
Stock futures rose ahead of December’s consumer price index report. The SEC sued Elon Musk over his 2022 purchase of Twitter. Six of President-elect Donald Trump's cabinet picks are set to face questioning in Senate confirmation hearings.
Denmark's producer price inflation accelerated to the highest level in more than two years in December, mainly driven by higher
U.S. producer prices rose less than expected in December as higher costs for goods were partially offset by stable services prices, suggesting inflation remained on a downward trend after progress had stalled in recent months.
US wholesale inflation unexpectedly cooled in December, helped by a drop in food costs and flat services prices that may help temper concerns of lingering price pressures.
US producer prices rose less than expected in December as higher costs for goods were partially offset by stable services prices, suggesting inflation remained on a downward trend. The moderation in producer inflation reported by the Labor Department this week did not change the view that the Federal Reserve