Overview
Today's U.S. stock market saw a mixed performance as the higher-than-expected PPI figures and diminishing hopes for a rate cut in September created a downturn in the market. The S&P 500 closed flat, supported by gains in major stocks, despite a broad decline in over 350 stocks, signaling a cautious mood among investors.
| Nasdaq Composite | S&P 500 |
| Dow Jones Industrial Average | 1 South Korean won equals |
A Major News Story
- The Producer Price Index rose 0.9% month-over-month and 3.3% year-over-year, marking the largest increase in three years. This suggests that companies are passing on increased tax and import costs to consumers.
- Intel saw its stock surge on news that the U.S. government is discussing acquiring a stake.
- United Airlines was in the spotlight after it was revealed that Berkshire Hathaway purchased around 5 million shares in the second quarter.
Tomorrow's Economic Indicators
| Time | Indicator |
|---|---|
| 20:30 | U.S. Empire State Manufacturing Index for August |
| 20:30 | U.S. Retail Sales for July |
| 20:30 | U.S. Import Price Index for July |
| 21:15 | U.S. Industrial Production for July |
| 23:00 | U.S. University of Michigan Consumer Sentiment Index for August |
| 23:00 | U.S. University of Michigan Expected Inflation for August |
| 23:00 | U.S. Business Inventories |
| 05:00 | U.S. Net Long-Term Treasury Purchases |
General Opinion
The unexpected spike in PPI and the shift in expectations around rate cuts have led to a mixed stock market. As the Federal Reserve's rate decisions remain in flux, investors are looking ahead to tomorrow's economic indicators to gauge the state of the real economy and predict the Fed's future policy directions.
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