Investing.com — US stocks fell Tuesday, giving up early-day gains despite a cooler-than-expected producer price index reprot as traders braced for further inflation data. Â
At 1:03 p.m. ET (18:03 GMT), the rose 0.1%, the index was down 0.1%, and the fell 0.3%.Â
US PPI cooler than expected
US rose at a slower-than-anticipated rate in December, with the producer prices index increasing by 0.2% on a month-on-month basis in December, according to data released earlier Tuesday. Economists had anticipated the reading would match November’s pace of 0.4%.
Compared to a year earlier, the PPI ticked up by 3.3%, accelerating from 3.0% in the prior month but cooler than estimates of 3.5%.
“While this morning’s report does little to arrest the likelihood – and need – for a policy pivot near term, it does seemingly afford the Committee more flexibility for policy as the data continue to evolve in the new year and under a new…
