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Wall Street Opens Mixed as PPI Reinforces Fed Concerns; Dow up 40 Pts -Breaking

by Mike Robinson

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© Reuters.

Geoffrey Smith 

Investing.com — Stock markets in the United States opened lower Tuesday following a higher than expected producer price inflation print. This reinforced concerns that the Federal Reserve would accelerate tightening monetary policy during its meeting this week.

U.S. producer pricing rose 9.6% through November. The staggering 0.7% monthly jump underlines that the rise is not due to base effects from a year with pandemic distortions. Core prices increased by 0.7% in the month, and 7.7% for the entire year. 

The index had risen 44 points by 9:45 am ET (1450 GMT) but it was 0.1% lower at 35,695 point. However, the was 0.4% down and the 0.9% down, which both extended Monday’s losses. 

 

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