Energy costs push up producer price index

Marketplace All-in-One

Marketplace

News, Business

4.5 • 1.4K Ratings

🗓️ 14 March 2024

⏱️ 1 minutes

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Summary

Stocks fall; crude oil prices have been rising this year; retail sales rise in February; mortgage rates fall.

Transcript

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0:00.0	This is the Marketplace Minute.
0:03.8	I'm Justin Ho.
0:05.3	Stocks closed down on Thursday.
0:07.3	The Dowell fell a third of a percent, the S&P and the NASDAQ lost 3 tenth percent.
0:13.0	Producer prices rose in February, up six tenth percent from the month before, according to the
0:17.2	Labor Department.
0:18.6	Most of that was thanks to rising energy prices.
0:21.3	In fact, global crude oil prices are up about 10% since bottoming out at the beginning of the year.
0:27.0	Retail sales rose 6 10% in February from the month before, according to the Commerce Department.
0:32.0	It's a smaller monthly increase than to the Commerce Department.
0:32.5	It's a smaller monthly increase than in the previous month.
0:35.5	Sales of vehicles, electronics, and building supplies rose the most.
0:39.6	Sales at furniture stores declined.
0:42.4	And the average rate on a 30-year fixed mortgage fell to 6.74%
0:46.7	according to the government-backed Mortgage Corporation Freddie Mac. That's still higher
0:50.3	than rates for this time a year ago. I'm Justin Ho with the Marketplace Minute. You're going to.

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