A softer-than-expected Producer Price Index (PPI) print boosted equity futures on Tuesday morning but stocks closed mixed in the face of rising bond yields. This comes a day before the release of the final Consumer Price Index (CPI) report for 2024.
The Bureau of Labor Statistics said PPI rose by 0.2% month over month in December, short of a consensus forecast of 0.3% and down from 0.4% in November. On a year-over-year basis, PPI accelerated to 3.3% from 3.0%.
