March 14, 2017
Producer prices are showing greater-than-expected pressure and, at 2.2 percent, the highest year-on-year rate in 5 years. The data are hinting at heat for the consumer price report and underscore the near certainty of a rate hike at tomorrow's FOMC.
Stocks were on the defensive with the Dow slipping 0.2 percent to 20,837. The dollar index, reflecting weakness in the euro, rose 0.3 percent to 101.70. Oil continues to slip, down another 50 cents and below $48.