Overview:
April's Producer Price Index rose 1.4% month-over-month, far above the 0.5% consensus estimate, pushing wholesale inflation to 6.0% year-over-year — the hottest reading since December 2022. The print landed one day after CPI came in at 3.8% annually, completing a two-day inflation shock that drove S&P 500 futures down 0.7% and the 10-year Treasury yield to 4.46%. With the Fed's next meeting on Jun
April’s Producer Price Index rose 1.4% month-over-month, far above the 0.5% consensus estimate, pushing wholesale inflation to 6.0% year-over-year — the hottest reading since December 2022. The print landed one day after CPI came in at 3.8% annually, completing a two-day inflation shock that drove S&P 500 futures down 0.7% and the 10-year Treasury yield to 4.46%. With the Fed’s next meeting on June 16–17 and a new chair potentially at the helm, traders are repricing the odds of any near-term rate cut toward zero.
This article is published by PreMarket Daily for informational purposes only. Nothing here constitutes financial advice, investment recommendations, or an offer to buy or sell any securities. Always consult a qualified financial professional before making investment decisions.