The U.S. stock market will rise today. Producer inflation slows rapidly

The annual core U.S. producer price index fell to 6.7% in October after 7.2% a month earlier. Forecasts were far from so optimistic. Analysts had expected the index to hold steady.

After last week's CPI data, optimism returned to the US market. Today's data will only bolster hopes for a soft landing. Given the slowdown in producer cost growth, the downtrend in inflation in the states may be taking hold.

Already the S&P 500 futures are up 2%. The positivity is likely to continue into the main session.