Core PPI (YoY) (Feb) +2% vs +1.9% Est.
Portfolio Pulse from Benzinga Newsdesk
The Core Producer Price Index (PPI) for February increased by 2% year-over-year, surpassing the estimated 1.9%.
March 14, 2024 | 12:31 pm
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NEUTRAL IMPACT
The SPDR S&P 500 ETF Trust (SPY) may experience short-term volatility due to the higher-than-expected Core PPI, indicating potential inflationary pressures.
The Core PPI is a key indicator of inflation, and higher-than-expected figures can lead to speculation about the Federal Reserve's monetary policy, affecting market sentiment and potentially causing short-term volatility in broad market ETFs like SPY.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75