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Stocks Start The Day Higher After Producer Prices Suggest That Inflation Is Peaking

After the most recent data showed yet another indication that inflation, while still high, is starting to decline, stocks increased on Wednesday.

By 105 points, or 0.3%, the Dow Jones Industrial Average increased. S&P 500 increased by 0.4%. The Nasdaq Composite increased by 0.7%, aiming for a seventh straight positive day.

The changes followed a 0.5% fall in the producer price index for December, which monitors business input prices and may be a leading sign of future inflation. A 0.1% decline was predicted by economists surveyed by Dow Jones. Investors who had hoped for a decline in inflation and a reduction in the Federal Reserve’s rate rises found solace in that.

“While the Fed maintained a hawkish stance in hiking rates throughout 2022.”

Source (CNBC)

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