Surprise inflation data pushes stocks down at opening
The surprise bump in wholesale prices has pushed the markets lower at opening.
In the first 25 minutes of trading, the Dow is down four-tenths of 1 percent.
The broader S&P 500 is down a little more than half of 1 percent and the tech-heavy Nasdaq is down half of 1 percent.
November wholesale inflation came in up 1.8 percent, higher than the 0.8 percent expected.
On the good news side, industrial production rose more than expected in November, led by activity at U.S. mines. Manufacturing ticked upward, as well.
-- Frank Ahrens
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By
Frank Ahrens
|
December 15, 2009; 9:55 AM ET
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