The Dow Jones Industrial Average (DJIA) has steadied before the closing bell, following a tepid Monday session. The market is expected to remain nervous ahead of key inflation data, with a fresh batch of US PPI and CPI inflation prints due this week.
The US Producer Price Index (PPI) business-level inflation figures are expected to be released on Tuesday, and markets are hoping for a continued easing in structural inflation pressures. Core PPI for the year ended in July is forecast to ease to 2.7% from the previous 3.0%, while Wednesday’s YoY core CPI inflation is also expected to tick down to 3.2% from the previous 3.3%.
Markets have trapped themselves in a Goldilocks forecast scenario, with two-thirds of the Dow Jones board in the red on Monday. Walmart Inc. and UnitedHealth Group Inc. rose over 1.5% each, while losses were led by Procter & Gamble Co. and Boeing Co., each falling around 2% on the day. The Dow Jones traded on the tepid side, testing down around four-tenths of one percent as intraday price action struggles to find a grip on the 50-day Exponential Moving Average (EMA) near 39,583.00.
Tags Boeing dow Procter & Gamble Walmart
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