US Stocks Falter On PPI Data, Nasdaq Hits 1-Month Low: What’s Driving Markets Friday?

Published by

U.S. equities were unable to break free from the bears’ grip, with tech continuing to underperform the rest of the market. The release of higher-than-expected producer inflation numbers in July, which climbed from 0.2% to 0.8% year-on-year, above estimates of 0.7%, dominated headlines Friday. The surprise in the PPI reading has awakened marginal upticks in market expectations for Fed rate hikes, even though traders remain largely convinced (with an 89% probability) that the Fed will opt to leave rates on hold in September. Te 2-year yield moved up 5 basis points to 4.9%, impacting rate-sensiti…

Read More