US producer prices fall easing Fed Reserve’s pressure to raise rates

CommSec’s James Gruber says the US Federal Reserve is facing reduced pressure to raise rates at its next meeting after the nation’s producer prices fell. “It follows a positive night on Wall Street, with the S&P 500 rising 0.4 per cent and the Nasdaq up 0.6 per cent,” Mr Gruber told Sky News Australia. “There are a few factors at play – US producer prices fell unexpectedly and that eases the pressure on the Federal Reserve to raise rates anytime soon. “The second factor was there were good earnings out of the financial sector, particularly Blackrock, the asset manager.” Presented by CommSec.