Stock Market Today (10/14/21): Economic Data, Earnings Fuel Stock Surge
Stock Market Today: Economic Data, Earnings Fuel Stock Surge
The producer price index came in below expectations, while weekly jobless claims hit their lowest level since mid-March 2020.
Investors were cheered with a plethora of pleasant surprises Thursday, sparking a widespread rally that saw every sector close well in the green.
Kicking things off was the latest producer price index – a measure of how much suppliers are charging businesses and other customers for their goods – which rose 0.5% last month. This was slower than the 0.7% rise in August and also below the 0.6% increase economists were expecting.
Prices at the producer level tend to seep down to consumers, says Jennifer Lee, senior economist at BMO. But while she's "grateful for some relief on the price front, we …
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