Investors and traders responded to nuances around another hot inflation report on Thursday. And they shrugged off a pre-market social media post and a late-day press conference on potential new tariffs from President Donald J. Trump. Yields declined sharply, and tech stocks led what looks like an old-fashioned relief rally.
The Bureau of Labor Statistics said the Producer Price Index (PPI) ticked up to 0.4% in January, ahead of a consensus forecast of 0.3%. Core PPI, which excludes food, energy and trade services, came in at 0.3%, in line with expectations.
