Summary
Stocks fell on Thursday on hotter-than-expected inflation readings. In February, headline PPI rose 0.6%, up from 0.2% in January and ahead of the expected 0.3% increase — with nearly two-thirds of the increase attributed to a rise in prices for final-demand goods. A 4.4% rise in energy prices during the month was the main factor in the increase in final-demand goods, contributing over one-third of the increase. PPI rose 0.4% in February, down from 0.6% last month but ahead of the expected 0.2% increase. U.S. retail sales in February were up 0.6%, following the 0.8% decline in January. The Dow fell 0.2%, the S&P 500 was down 0.3%, and the Nasdaq lost 0.1%. Crude oil traded above $81 per barrel, while gold fell $18 to $2162 per ounce.
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