Yahoo Finance Live co-host Seana Smith breaks down intraday market movements, including the bond market and Nasdaq leaders.
The dollar and Wall Street stocks traded little changed on Friday after data on U.S. producer prices drove conflicting reactions, stirring hope that inflation is moderating while also raising fears the Federal Reserve will need to keep interest rates higher for longer. The producer price index (PPI) for final demand rose 0.3% last month and increased 7.4% in the 12 months through November, while the PPI for October was revised up to 0.3% from 0.2% as previously reported, the U.S. Labor Department said.
The stock market was mixed on Friday, with the Nasdaq Composite (NASDAQINDEX: ^IXIC) and S&P 500 (SNPINDEX: ^GSPC) rising but the Dow Jones Industrial Average (DJINDICES: ^DJI) easing lower as of noon ET. The inflation data coming from the Bureau of Labor Statistics Friday morning was for the Producer Price Index (PPI) report, which measures prices at various stages in the production process before goods and services are offered to consumers. November's headline Producer Price Index numbers raised concerns in some investors' minds.