The Producer Price Index showed prices at the wholesale level rose 0.7% month-over-month in March, after declining 0.6% in February. The forecast called for prices to rise by 0.5%. The core rate, which excludes food and energy, increased 0.1%, matching the forecast of economists. On a year-over-year basis, headline producer prices were 6.0% higher, while the core rate was up 0.9%.
Existing-home sales rose 6.8% in March to an annual rate of 5.35 million units, better than the 5.3% increase to 5.29 million units forecast, and February’s data was revised slightly lower. Details from Bloomberg...
The Dow Jones Industrial Average rose 9 points (0.1%) to close at 11,134, the S&P 500 Index gained 3 points (0.2%) to 1,209, and the Nasdaq Composite increased 14 points (0.6%) to 2,519. Crude oil was $0.05 higher at $83.73 per barrel, and the Bloomberg gold spot price fell $5.18 to $1,141.58 per ounce.
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