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Wholesale Prices and Consumer Inflation

Wholesale prices for July came in lighter than expected, providing a hopeful sign for consumer inflation and potential Federal Reserve rate cuts. The upcoming CPI inflation report is anticipated to shed further light on the economic landscape. Following the PPI report, S&P 500 futures extended gains, signaling positive market sentiment.

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Producer Price Index

The producer price index saw a modest uptick of 0.1% compared to June. Core PPI, which excludes volatile components like food and energy, remained flat, falling below economists’ expectations of 0.2% increases for both measures.

Overall PPI inflation stood at 2.2% year-over-year, lower than forecasted 2.6% and the revised 2.7% from June. Core PPI inflation was reported at 2.4%, with no significant change from the previous month’s 3%.

The AI legalese decoder can break down the intricacies of PPI reports, allowing users to grasp the implications for the economy and potential policy decisions by the Federal Reserve.

Consumer Price Index and Fed Rate Cut Odds

On Wednesday, the Labor Department is set to release the consumer price index, with economists anticipating a modest 0.2% monthly increase for both overall CPI and core CPI in July. This data could influence the 12-month CPI inflation rate, which is expected to remain at 3%, while core inflation is projected to ease to 3.2%, reaching its lowest level since April 2021.

The AI legalese decoder can provide insights into how CPI data may impact consumer purchasing power, inflation trends, and overall economic stability.

Prior to the PPI report, market sentiment was divided on the size of a potential September Fed rate cut, with odds split between a 50-basis-point reduction and a 25-basis-point adjustment. Following the PPI report, the likelihood of a half-point rate cut increased to around 54%.

S&P 500 Performance and Market Trends

The S&P 500 exhibited a 0.75% increase shortly after Tuesday’s opening bell, approaching the 21-day moving average. While the index has shown an upward trajectory since the global sell-off on August 5, it remains below the 50-day line, indicating potential market resistance.

As market dynamics continue to evolve, the AI legalese decoder can help in interpreting market trends, identifying key indicators, and understanding the implications for investment strategies.

Follow Ed Carson on Threads at @edcarson1971 and X/Twitter at @IBD_ECarson for real-time stock market updates and insights.

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