Indexes Move Higher Following Softer-Than-Expected May PPI Data
Portfolio Pulse from Benzinga Newsdesk
Indexes moved higher following softer-than-expected May Producer Price Index (PPI) data, indicating potential easing of inflationary pressures.
June 13, 2024 | 12:31 pm
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The SPDR S&P 500 ETF (SPY) saw an increase as the softer-than-expected May PPI data suggested easing inflationary pressures, which is positive for the broader market.
The softer-than-expected PPI data suggests that inflationary pressures may be easing, which is generally positive for the stock market. As SPY tracks the S&P 500, it benefits from the overall market sentiment.
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