My top 10 things to watch Friday, Dec. 9, 2022
1. Wholesale inflation: JUST PLAIN BAD. The government says November producer prices rose 0.3% overall versus the 0.2% expected increase. Ex-food and energy core rate double estimates: up 0.4%. U.S. stock futures, up solidly before the numbers, turned lower after the release. Bond yields up. Consumer prices for November are out Tuesday morning when Federal Reserve’s two-day December meeting begins. PPI keeps pressure on the Fed. Food inflation mitigated by Costco.