Inflation , as measured by the producer price index, rose four-tenths of a percentage point to 3% for the year ending in November, the Bureau of Labor Statistics reported Thursday.
November’s Consumer Price Index (CPI) report arrived yesterday – and it was just what stocks needed to continue rallying.
Futures steadied after Wall Street indexes- particularly the Nasdaq- hit a record high during the session, with technology stocks rallying sharply on the prospect of lower rates in the near term.
November wholesale inflation jumped unexpectedly, driven up by higher food prices, especially a more-than 54% jump in the price of eggs. But that shouldn't alter the Fed's plan to cut rates.
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