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Market Updates

Wall Street indexes advanced, and investors reviewed the first of two inflation reports amid heightened attention to underlying drivers after a strong jobs market report. 

The S&P 500 index increased 0.4%, and the Nasdaq Composite advanced 0.5% after the producer price index rose less than expected in December. 

The measure of the wholesale price index rose 0.2% from the previous month, and the core index, which excludes volatile food and energy prices, was flat, according to a report released by the Bureau of Labor Statistics Tuesday. 

On an annual basis, producer price inflation accelerated to 3.3% in December from 3.0% in the previous month, and the core rate of inflation advanced to 3.5%. 

Market participants are sensitive to inflation reports after nonfarm payrolls expanded by faster-than-expected 256,000 in December, confirming that the jobs market is too strong for the Federal Reserve to lower rates at its next meeting, later in the month. 


14 Jan, 2025

     

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