Stocks Steady As Cooler Producer Inflation Eases Rate Fears
-
US stocks wobbled as wholesale inflation rose less than expected. The Dow was flat while the S&P 500 was little changed after Wednesday's rout.
-
Producer Price Index for March rose 0.2% monthly and 2.1% annually, below estimates. This helped soothe worries after a hotter CPI report.
-
The European Central Bank held rates at record highs but signaled rate cuts were coming.
-
Oil prices slipped but stayed near 6-month highs, presenting another headwind for stocks.
-
Corporate earnings reports starting Friday with banks may provide stock momentum, though investors are bracing for the impact of higher rates.