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Stocks end little changed as earnings offset inflation data

Posted on AllSides January 12th, 2024
From The Center
REUTERS/Brendan McDermid/File Photo

U.S. stocks closed barely changed on Friday, after wavering between modest gains and losses, as mixed bank earnings offset cooler-than-expected inflation news that buoyed hopes for interest-rate cuts from the Federal Reserve.

On Friday, data showed U.S. producer prices unexpectedly fell in December as the cost of goods such as food and diesel fuel declined, while prices for services were unchanged for a third consecutive month, in contrast to Thursday's hotter-than-expected consumer inflation reading.

Expectations for a rate cut of at least 25 basis points by the Fed in March...

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