Wall St muted as hot PPI keeps smaller rate cut in view

[Pelican Press 0]

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Wall St muted as hot PPI keeps smaller rate cut in view

Wall Street is little changed after hot producer prices data kept a smaller 25-basis point interest rate cut by the Federal Reserve firmly on the table while vaccine maker Moderna’s shares slumped following a downbeat revenue forecast.

The producer price index (PPI) for final demand rose 0.2 per cent in August compared with estimates of 0.1 per cent growth.

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