Prices paid to U.S. producers rose more than forecast in September as oil costs surged, ensuring that inflation will remain a key concern when Federal Reserve policy makers meet later this month to determine the course of interest rates.The US Dollar went from €0.7060 to €0.7035 in about 2 minutes of trading. NYBOT's dropped to 78.135. Wall Street will open in less than ten minutes from now. I predict a BIG drop today (-0.5% or more).
The 1.1 percent increase followed a 1.4 percent decline in August, the Labor Department said today in Washington. So-called core producer prices, which exclude fuel and food costs, rose 0.1 percent after a 0.2 percent gain in August.
The latest inflation numbers may restrain the Fed from cutting rates again this month as robust trade and labor-market reports signal the economy may be stronger than previously estimated. Fed policy makers, in minutes of their last monetary meeting, signaled they weren't convinced the expansion was coming to an end.
Update:
Wilshire 5000 went UP 0.52 percent. A Wall Street expert I am not.
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