Stocks finished the day mixed, as investors focused on today’s producer price index (PPI) data, which was more modest than anticipated. All eyes are now on tomorrow’s consumer price index (CPI) reading, which should indicate whether or not the Federal Reserve neared its 2% inflation goal. Bank earnings are also on the horizon, with an onslaught of reports due out from several blue chips. Today marked the Dow’s third triple-digit pop in four sessions, and a fifth-straight losing session for the Nasdaq.
Oil Drops Off After Multi-Day Climb
Oil prices are correcting from a multi-day, sanction-driven surge, finishing lower for today’s session. February-dated West Texas Intermediate (WTI) crude fell $1.32, or 1.7%, to settle $77.50 per barrel.A weakening U.S. dollar and moderate inflation reading sent gold futures higher. Gold for January delivery added 0.1% to settle at $2,682.20 an ounce.More By This Author:Stocks Moving Lower Despite Encouraging Inflation Data
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