NEW YORK, Oct 12 (Reuters) - U.S. producer prices rose more than expected in September as the cost of energy surged, a government report showed on Friday, but underlying inflation pressures were muted.
STORY: TABLE COMMENTS:
TODD SCHOENBERGER, MANAGING PRINCIPAL AT THE BLACKBAY GROUP IN NEW YORK
"If you look at the month-over-month, it did cool down a bit, which is interesting. People who expect recent Fed actions to lift inflation are probably right, but I don't think we'll see the impact of that for a few months, so enjoy this while you can.
"This shouldn't impact trading as traders remain focused on earnings and outlooks. That will have a much bigger impact on trades right now."
STOCKS: U.S. stock index futures held onto their earlier gains .
FOREX: The dollar maintained its losses versus the euro and held its gains versus the yen .
BONDS: U.S. Treasury debt prices held steady .
(Americas Economics and Markets Desk; +1-646 223-6300)
Keywords: USA ECONOMY/PPI