Stock Market Update

Just in, the March Producer Price Index showed a 0.4% month-over-month decrease in the index for final demand (Briefing.com consensus +0.1%). Core PPI, which excludes food and energy, was down 0.1% (Briefing.com consensus +0.3%).

The news has been met with a slight boost in the equity futures market relative to where it was trading in front of the report. Like yesterday's CPI report, though, market participants may be apt to discount these numbers as a short-lived improvement, knowing the tariff actions are now taking root in supply chains and are expected to lead to higher prices at least in the short term.