President-elect Donald Trump gestures after ringing the opening bell at the New York Stock Exchange, Thursday, Dec. 12, 2024, in New York.Alex Brandon/The Associated Press
U.S. and Canadian stocks pulled back on Thursday as investors evaluated key economic indicators ahead of the Federal Reserve’s meeting next week.
A Thursday Labor Department report showed U.S. producer prices rose more than forecast in November, though a moderation in service costs pointed to a continuation of the broader disinflationary trend. Initial claims for U.S. unemployment benefits unexpectedly climbed last week, raising concerns about labour-market resilience.
“Investors are just trying to suss out what is the Fed going to do next week? Is inflation really going to be a problem and the Fed has to really slow its role on rate cuts, or can they get there?” said Rob Haworth, senior investment strategist at U.S. Bank Wealth…
