crypto-first21
--
Hot PPI Inflation Cools Big Fed Rate-Cut Hopes; S&P 500 Falls
July #PPIData came in hot, with headline and core both rising by 0.9% for the month, their highest monthly readings in more than three years. Treasury yields are up as the Fed needs to weigh this against a softening labor market.
Today's producer price index and jobless claims data may not do much to lower the volume on calls for multiple near-term Federal Reserve rate cuts, with the Trump administration leading the way. The S&P 500 fell modestly after the data, following Wednesday's close at a new record high. Deere (DE) is among the big S&P 500 losers early Thursday amid a tempered earnings outlook as it navigates Trump tariffs.
After Tuesday's consumer price index data showed a modest impact from tariffs on goods prices in July, new PPI data showed a surprising jump, but it may not feed through to the Fed's primary inflation rate, the core PCE price index. Meanwhile, weekly initial jobless claims dipped. Continuing jobless claims, those people still collecting benefits because they haven't found new jobs, eased from the prior week's nearly four-year high.
#HotJulyPPI
#PPIShockwave
July #PPIData came in hot, with headline and core both rising by 0.9% for the month, their highest monthly readings in more than three years. Treasury yields are up as the Fed needs to weigh this against a softening labor market.
Today's producer price index and jobless claims data may not do much to lower the volume on calls for multiple near-term Federal Reserve rate cuts, with the Trump administration leading the way. The S&P 500 fell modestly after the data, following Wednesday's close at a new record high. Deere (DE) is among the big S&P 500 losers early Thursday amid a tempered earnings outlook as it navigates Trump tariffs.
After Tuesday's consumer price index data showed a modest impact from tariffs on goods prices in July, new PPI data showed a surprising jump, but it may not feed through to the Fed's primary inflation rate, the core PCE price index. Meanwhile, weekly initial jobless claims dipped. Continuing jobless claims, those people still collecting benefits because they haven't found new jobs, eased from the prior week's nearly four-year high.
#HotJulyPPI
#PPIShockwave
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
0
0