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Good evening:
Major market indices slipped slightly at the beginning of the shortened trading week, fell more sharply on Wednesday and Thursday in response to recession worries, and finished by rebounding on Friday. Investors worried that the Fed would overtighten in its inflation battle, despite increasingly visible progress. This week, December PPI core came in at +0.1% vs +0.4% last month. Headline PPI also fell, coming in at 6.2%, down from November and below expectations of 6.8%.
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