China's PPI down 2.8 pct in September

China's producer price index (PPI), which measures costs for goods at the factory gate, went down 2.8 percent year on year in September, the National Bureau of Statistics said Sunday.

On a monthly basis, the PPI edged down 0.6 percent in September.

The purchasing prices for industrial producers decreased by 2.2 percent on a yearly basis and 0.8 percent on a monthly basis during the same period.

In the period from January to September, China's producer prices for industrial products decreased by 2.0 percent over the same period of last year, and the purchasing prices for industrial producers decreased by 2.1 percent.

In terms of the year-on-year changes of prices for different categories, among the producer prices for industrial products, the prices for means of production decreased by 3.3 percent.

Among them, the prices for the mining industry went down by 2.5 percent, the prices for the raw material industry decreased by 3.2 percent, and the prices for the processing industry dropped by 3.3 percent.

The prices for means of livelihood lowered by 1.3 percent on a yearly basis. Among them, the prices for food went down by 1.6 percent, for clothing and general commodities decreased by 0.3 percent, and the prices for durable consumer goods dropped by 2.1 percent.

Of the purchasing prices for industrial producers, prices for ferrous metal materials dropped by 6.8 percent year on year, prices for building materials and non-metallic went down by 4.2 percent, and prices for fuel and power declined by 4.1 percent.

The prices for agricultural and sideline products declined by 3.8 percent, prices for raw chemical materials declined by 3.3 percent, and prices for non-ferrous metal materials and wires went up by 7.4 percent.

China's PPI down 2.8 pct in September

China's PPI down 2.8 pct in September

China's PPI down 2.8 pct in September

China's PPI down 2.8 pct in September

U.S. stocks ended mixed on Monday with the S and P 500 and the Nasdaq Composite Index closing at record highs as investors assessed a reported Iranian proposal to reopen the Strait of Hormuz.

The Dow Jones Industrial Average fell 0.13 percent to 49,167.79. The S and P 500 added 0.12 percent to 7,173.91. The Nasdaq Composite Index increased 0.2 percent to 24,887.1.

Eight of the 11 primary S and P 500 sectors ended in red, with consumer staples and real estate leading the laggards by dropping 1.18 percent and 0.84 percent, respectively. Communication services and financials led the gainers by rising 0.94 percent and 0.65 percent, respectively.

According to an Axios report, Iran offered the United States a new proposal to reopen the Strait of Hormuz and end the conflict, while suggesting that nuclear talks be deferred.

However, Iran's Foreign Ministry spokesperson Esmaeil Baqaei stated that no meeting between Tehran and Washington is currently planned.

Oil prices rose, as the West Texas Intermediate for June delivery went up 2.09 percent to settle at 96.37 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for June delivery added 2.75 percent to settle at 108.23 dollars a barrel on the London ICE Futures Exchange.

Microsoft was little changed after the company announced it would no longer have exclusive access to OpenAI's technology lineup, and a related revenue-sharing agreement was also set to end.

Market attention is now turning to the Federal Reserve's two-day policy meeting, which starts Tuesday. The central bank is widely expected to keep interest rates unchanged amid the uncertainty caused by the Iran conflict and its potential inflationary effects.

The upcoming meeting is expected to be Federal Reserve Chair Jerome Powell's penultimate one before the leadership transition to Kevin Warsh, who will face a crucial Senate confirmation vote in the near term.

U.S. stocks little changed as investors weigh Iran proposal