Stock market today: Indexes tick higher as producer inflation comes in cool

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.

“All eyes are now on Wednesday’s CPI report, which may be the most important inflation reading in recent memory, as it will fuel the market’s Fed-obsessed sentiment,” said Chris Brigati, chief investment officer at SWBC. “A strong inflation number adds to this idea of no cuts in 2025, and potentially even a rate hike, while a weak inflation data point may help to calm the market’s Fed fears.”

Wednesday will also kick off fourth-quarter earnings season, with multiple major US banks including JPMorgan and Wells Fargo set to report.

Here’s where US indexes stood at 10:35 a.m. on Tuesday:

Here’s what else is happening:

In commodities, bonds, and crypto:

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