Producer Prices, Jobless Data Spell Inflation

S&P 500 futures are well down this morning, off 6.7 points for the June contract at 1,193.70, and the Dow futures are down 28 points at 11,031, after the U.S. Department of Labor reported the producer price index for for finished goods for March rose 0.7%, ahead of expectations for a 0.4% increase, following a 0.6% decline in March.

Leading the rise, food prices rose 2.4% in March, the sixth month in a row of price increases, while gasoline prices rose 2.1%.

Add in fears of the labor market heating up, with the Department reporting a drop of 24,000 in initial unemployment claims last week, to 456,000, below analysts’ estimate for 460,000. The prior week’s figure was revised down by 4,000 claims to 480,000.

The U.S. dollar strengthened, rising to $1.3323 per Euro from last night’s closing cross of $1.3399.

The commodity complex drifted down on the news, with prices for the June contract on light sweet crude oil futures down $1.23 at $82.45 per barrel. Gold took a tumble, too, falling $7 to $1,141.20.

Add a Comment

We welcome thoughtful comments from readers. Please comply with our guidelines. Our blogs do not require the use of your real name.

Be the first to leave a comment on this blog.

About Stocks To Watch

  • Earnings reports, corporate strategies and analyst insights are all part of what moves stocks, and they’re all covered by the Stocks to Watch blog. We also look at macro issues, investor sentiments and hidden trends that are affecting the market. Stocks to Watch gives you the full picture of the U.S. stock markets, all day long.

    The blog is written by Ben Levisohn, a former stock trader who has covered financial markets for the Wall Street Journal, Bloomberg and BusinessWeek.

    Write to Ben at

Partner Center
Find a Broker