At the end of the trading session on January 14, the Dow Jones index increased by 0.52% to 42,518.28 points. The S&P 500 index edged up by 0.11% to 5,842.91 points, while the Nasdaq Composite index decreased by 0.23% to 19,044.39 points.
The US producer price index (PPI), a measure of inflation at the wholesale level, rose just 0.2% in December 2024, lower than the forecast of 0.4% by experts participating in the Dow Jones survey. For the core PPI, which excludes food and energy prices, there was no change recorded.
At the end of the trading session on January 14, spot gold contracts increased 0.3% to 2,668.91 USD/ounce. Gold futures contracts increased 0.1% to 2,682.20 USD/ounce.
Brent crude oil price decreased by 1.35% to 79.92 USD/barrel. Meanwhile, WTI crude oil price decreased by 1.67% to 77.50 USD/barrel.
In terms of base metals, China’s December imports were relatively strong, reflecting a (modest) improvement in manufacturing activity in the fourth quarter. Copper product imports rose 21.8% year-on-year to 602kt, the highest since October 2020. Refined copper ore imports also increased slightly. The early arrival of the Lunar New Year this year (January 29) may have prompted early purchases.
U.S. oil demand is expected to remain steady at 20.5 million barrels per day in 2025 and 2026, the EIA said in its economic and financial bulletin on Tuesday. However, U.S. oil production is forecast to increase to 13.55 million barrels per day, slightly higher than the previous forecast of 13.52 million barrels per day this year.
