Ahead of the opening bell, the Bureau of Labor Statistics said the Producer Price Index (PPI), which measures what businesses are paying subscribers for goods, increased 0.2% month over month in October. Year over year, the headline PPI was up 2.4% – the quickest pace since July.

I’ve been talking a lot with a weather predicting outfit called Weathertrends360 and their boss Bill Kirk. We were talking about things like bumper corn crops in Brazil when he mentioned there is highly likely to be a November hurricane to hit Florida in the next few days, one of only four land-falling hurricanes in the last 174 years.

Indexes slipped as traders zeroed in on remarks from Fed Chair Jerome Powell, who said the central bank is in no hurry to cut rates amid a strong economy.