CPI, PPI, jobs report, retail sales, etc., etc. Are any/all of these any use in, say, predicting if the DJIA will rise or fall tomorrow, to even a 55% reliability?
No. That's not to say stocks don't move due to economic data, but to predict how they will react takes alot more information than just the raw data.
Certainly they can be of use in predicting the market. All you have to do is get them before anybody else does.