Daily Note | January 12, 2024 | PPI Day Points To More Disinflation, A Look At FLC

Markets are mixed with the Dow down half a percent but the S&P and Nasdaq up slightly. Today we got the PPI report, a measure of wholesale inflation. Those prices unexpectedly declined -0.1% in December. Excluding food and energy, core PPI was flat compared to an estimate on Bloomberg of +0.2%.

Yesterday was an odd day. The CPI report seemingly missed ex…