On the SPOT™ blog (02/16/2023) [A..]
The January PPI (and core PPI) data released today was higher than estimated. So far we have seen that for January, both CPI and PPI numbers are higher than estimated. What's more is that last week's unemployment claims fell unexpectedly. This perhaps implies that Feds will remain hawkish to bring down inflation and as some comments from Federal Reserve officials suggests, the 0.5% rate hike in the next FOMC meeting may not be off the table. Interest rate hike speculations have a -ve impact on the markets. This might be the reason why all three major US indices finished the day in solid red.
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