On Friday, the Dow Jones Industrial Average saw a decline after another significant inflation report heightened concerns that Federal Reserve rate cuts may be delayed later this year.
The 30-stock Dow slipped by 65 points, representing a 0.2% decrease. The S&P 500 also experienced a slight drop of 0.1%, while the Nasdaq Composite remained unchanged.
In January, the producer price index, which measures wholesale inflation, rose by 0.3%, surpassing the 0.1% growth expected by economists polled by Dow Jones. The core PPI, which excludes food and energy, saw a higher-than-expected increase of 0.5%.
Following the release of the strong PPI data, the 10-year Treasury yield surged above 4.3%, and the 2-year Treasury yield reached 4.7%, its highest level since December.
Source (CNBC)
