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The Guardian - UK

Business

Graeme Wearden

US producer prices slide as inflationary pressures ease; UK housing market weakens – as it happened

Elon Musk ING Tesla Inc. United States US Federal Reserve Inflation Jerome Powell Kathaleen McCormick Delaware

A Shell petrol station in Alhambra, California. Photograph: Frederic J Brown/AFP/Getty Images

3.08pm BST

Closing post

Time to wrap up…. here’s today’s main news stories so far:

2.58pm BST

Stocks are rallying on Wall Street in early trading, as traders hail the easing of inflation pressures.

The tech-focused Nasdaq index has hit a new intraday record high; it’s up 112 points, 0.64%, at 17,721 points.

⚠️ NASDAQ HITS INTRADAY RECORD HIGH
— PiQ (@PiQSuite) June 13, 2024

But shares are weakening in Europe today; in London, the FTSE 100 share index has now dropped by 52 points, or 0.65%, at 8162 points.

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