Stock market news today: July PPI report shows inflation still around

US stocks edged lower on Friday after the Producer Price Index showed wholesale inflation picked up 0.3% in July, ahead of estimates for a 0.2% rise.

The higher-than-expected inflation report was driven by services and comes just one day after the July CPI report showed cooler-than-expected inflation. Treasury yields moved slightly higher following the data. Despite the conflicting data, investors still expect the Federal Reserve to pause their interest rate hikes at their September FOMC meeting, according to the CME FedWatch Tool. But that doesn't mean interest rate hikes are over, as the Fed is still awaiting the August CPI and jobs report to inform its decision.

"The increase in wholesale prices serves as a reminder that the data-dependent Fed isn't ready to declare victory on its campaign to quell inflation," LPL's chief global strategist Quincy Krosby said."Today's report offers the hawkish wing of the Fed more ammunition to advocate for another rate hike before the Fed is convinced it's reached its terminal rate."

Colombia Últimas Noticias, Colombia Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Asian Stock Market: Trades in negative territory, all eyes are on the US PPIAsian stock markets edges lower on Friday, with all eyes on the release of the US Producer Price Index (PPI), due later in the American session. Sydne
Fuente: FXStreetNews - 🏆 14. / 72 Leer más »

PPI surprise was because of the stock marketWhat the stock market gives, the stock market takes away.
Fuente: MarketWatch - 🏆 3. / 97 Leer más »

Stock market news today: Indexes finish July with robust monthly gainsUS stocks rally late to finish July with robust month of gains
Fuente: BusinessInsider - 🏆 729. / 51 Leer más »