US Market open, PPI released
The Dow is off in early trading currently at 12,193.64 or 77.35 (-0.63%) points lower, Nasdaq is in the same boat at 2734.16 off 22.35 (-0.81%) and the S & P is 1305.65 or off 8.76 (-0.67%).
The US core producer prices rose faster than expected in March from February, its seasonally adjusted index for prices paid at the farm and factory gate, excluding volatile food and energy costs was up 0.3 % after gaining 0.2 % in February. Economists had expected core PPI to rise 0.2 % in March.
Oil dropped further and currently trading around $106 a barrel in Thursday trading. The Goldman statement eariler this week has really spooked the market and a continuing sell off in commodites accross the board.
In Europe crude for May delivery was down 79 cents at $106.32 a barrel in electronic trading on the NYMEX.
In London Brent crude for May delivery was down 86 cents to $122.02 a barrel on the ICE.
