: U.S. stock futures hold on to gains after PPI report
U.S. stock futures clung to their earlier gains Wednesday following the release of the November PPI Index, which showed producer price growth continued to slow last month. Futures on the S&P 500 ES00 gained 0.2% to 4,704.25. The yield on the 10-year Treasury note BX:TMUBMUSD10Y fell by 2.4 basis points at 4.174%. A measure of core wholesale prices, which strips out volatile food and energy, rose 0.1% last month, bringing the 12-month rate of change to 2.5%, the slowest rate since February 2021. One day earlier, the CPI report for November came in slightly hotter than expected, but U.S. stocks still finished higher as investors bet that the data wouldn’t meaningfully impact expectations for interest-rate cuts next year from the Federal Reserve.
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