Futures edge higher ahead of producer prices data – Kitco NEWS
Dec 9 (Reuters) – U.S. stock index futures ticked up on Friday ahead of monthly producer prices data that could offer more clues on how long the Federal Reserve will keep raising interest rates to tame decades-high inflation.
Wall Street’s main indexes have come under pressure in December after two consecutive months of gains on fears of a potential recession fueled by the extended U.S. monetary policy tightening as well as downbeat comments from top executives.
The Labor Department’s report, at 8:30 a.m. ET, is expected to show producer prices edged higher to 7.2% last month after an 8% rise in October.
Core producer prices, which exclude volatile food and energy components, are expected to show a 5.9% rise after a 6.7% growth in October.
“The big question is whether this trend can be maintained against a U.S. central bank that doesn’t want to be seen as going soft on inflation, and services and wages data that points to a U.S. economy that is slightly more resilient than…
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