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Wall Street Opens up as PPI Gives Hope of Turn in Prices Trend; Dow up 100 Pts -Breaking

by Mike Robinson

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© Reuters

Geoffrey Smith 

Investing.com – Stocks opened higher in U.S. on Thursday, as producer price data for December gave hope that inflation is turning.

At 36,397 point, the index was at 9:45 ET (1445 GMT) and had risen 107 points or 0.3% by that time. It was 0.2% higher than the 0.3%. 

Official December figures showed producers having raised prices less than they had feared during the last month of 2019. December’s 0.2% price increase was the lowest monthly gain since November 2020.  Oxford Economics analysts warned it was too soon to declare victory over inflation.

Rasheed stated in a note sent to clients that persistent supply disruptions would cause producer prices to remain at record highs in the short term. This is especially in light of a rapidly expanding Omicron variant which will fuel inflation pressures. PPI data supports the growing evidence that Fed will initiate rate hikes in March and reduce balance sheets mid-year.

 

 

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