Consumer Price Index showed an acceleration to 2.9%, the highest rate since July. With such high inflation, the Fed is unlikely to cut rates in January.

Wall Street's main indexes were on track to open higher on Tuesday, as investors assessed softer-than-expected producer inflation to gauge the Federal Reserve's monetary policy trajectory this year. A Labor Department report showed the producer price index rose 3.

Crude oil prices rallied sharply following the release of better-than-expected US CPI data, fueled by optimism about potential Fed rate cuts.

US stocks gained after cooler-than-expected producer price index data soothed inflation concerns. The numbers on Tuesday showed wholesale inflation rose 0.2% in December on a monthly basis, compared to an estimated 0.4% increase. The reading climbed 3.3% from a year ago, below the projected 3.5% gain.

The producer price index, which measures the costs of goods traded between companies, rose 2.3% from the previous year to 122.6.

Learn about the latest Producer Price Index data for December 2024, showing a % increase from the previous month and meeting consensus expectations.

Stock futures rose ahead of December’s consumer price index report. The SEC sued Elon Musk over his 2022 purchase of Twitter. Six of President-elect Donald Trump's cabinet picks are set to face questioning in Senate confirmation hearings.

Denmark's producer price inflation accelerated to the highest level in more than two years in December, mainly driven by higher

US wholesale inflation unexpectedly cooled in December, helped by a drop in food costs and flat services prices that may help temper concerns of lingering price pressures.

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This past week was a very important one for the stock market. With the arrival of several different economic reports, investors learned how inflation is trending in the U.S. economy. Those reports were largely soft,