: Traders work on the floor of the New York Stock Exchange (NYSE) on June 01, 2023 in New York City.Spencer Platt/GettyUS stocks fell on Friday after the July Producer Price Index showed higher inflation than expected.The higher inflation report was driven by services, with prices rising 0.3% in July compared to estimates for 0.2%.Friday's PPI report comes one day after the July CPI report showed lower-than-expected consumer inflation.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.
Similar Stories to Us Stocks Drop After Wholesale Inflation Comes In Hotter Than Expected on Bing News
mfox@businessinsider.com (Matthew Fox), Business Insider
Fri, 08/11/2023 - 6:40am
Topics: traders new york stock exchange nyse june city spencer platt/gettyus july producer price index ppi federal reserve september fomc cme fedwatch tool august cpi lpl quincy s&p jones industrial average composite visa jpmorgan exxon saudi arabia china west texas intermediate treasury 399 read business insider new york us july producer price index july july cpi fed stocks expected wholesale inflation report showed interest higher rate fell friday day services today driven jumped prices oil estimates hikes rates barrel crude
BING NEWS:
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The Dow and S&P 500 notched new highs on Friday, with the broader index closing above 5,800 for the first time as big US banks got earnings season underway. The Dow Jones Industrial Average (^DJI) ...
10/11/2024 - 9:14 am | View Link - Dow gains, S&P 500 hits record as bank stocks surge; Tesla drops 8%, oil prices fall
The S&P 500 and Dow Jones Industrial Average surged to new highs on Friday, buoyed by strong earnings reports from major banks, kicking off a positive start to the third-quarter earnings season. The S ...
10/11/2024 - 6:14 am | View Link - Wholesale Prices Didn't Push Up Inflation In September
Wholesale prices stayed flat in September, suggesting inflation is on a downward path despite some bumps in the road.
10/11/2024 - 5:46 am | View Link - Wholesale inflation remained cool last month in latest sign that price pressures are slowing
Wholesale prices in the United States were unchanged last month in another sign that inflation is returning to something close to normal after years of pressuring America’s households in the wake of C ...
10/11/2024 - 2:14 am | View Link - Morning Wrap: ASX 200 futures flat, S&P 500 retreats on hotter-than-expected CPI
Gold: Gold prices managed to tick higher overnight despite the hotter-than-expected CPI print as well as higher bond yields and US dollar. This drew a strong response from the VanEck Gold Miners ETF, ...
10/10/2024 - 10:43 am | View Link - More
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