November 14, 2017
A second month of strong traction in service prices sent producer prices sharply and unexpected higher in October. Pressure in wholesale inflation hints at possible pressure for tomorrow's consumer price report where unexpected gains could add urgency to plans for Federal Reserve rate hikes.
Stocks posted slight loses with the Dow down 0.1 percent to 23,409. Demand for bonds picked up with the 10-year yield down several basis points to 2.38 percent. Oil prices fell back following recent gains, down nearly $1-1/2 but still over $55. Gold held steady near $1,280.