Dow Jones rose 300 points on Tuesday after US Producer Price Index inflation eased more than expected in July. This gave stocks a chance to breathe and sent the DJIA into 39,700.00. US PPI inflation eased to 2.2% YoY in July, falling below the expected 2.3% and further from the previous period’s revised 2.7%. Core PPI inflation also declined to 2.4% for the year ended in July, dropping below the forecast 2.7% and well below the previous 3.0%.
Continued declines in US inflation pressure bolstered risk appetite in the US market session, with market bets of a 50 basis point double-cut in September from the Federal Reserve (Fed) rising to 55%. The week’s key data print is US Consumer Price Index inflation, forecast to tick down to 3.2% YoY from 3.3%.
Markets have fully priced in at least a quarter-point cut from the Fed on September 18, and continued easing in inflation metrics will likely spark a further dogpile into bets of a double cut.
All but five of the Dow Jones’ constituent securities were in the green on Tuesday, with Walmart Inc. falling -1.25% to $67.80 per share ahead of its latest earnings report slated for August 15.
Nike Inc. rallied 5.6% to $78.83 per share as investors see a rebound in its share price on “brand momentum” following a shuffle of downstream production chains and new franchise shoe releases garnering significant search interest.<\/p>\n","protected":false},"excerpt":{"rendered":"
Dow Jones rose 300 points on Tuesday after US Producer Price Index inflation eased more than expected in July. This gave stocks a chance to breathe and sent the DJIA into 39,700.00. US PPI inflation eased to 2.2% YoY in July, falling below the expected 2.3% and further from the previous period’s revised 2.7%. Core …<\/p>\n","protected":false},"author":13,"featured_media":56368,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[39,36],"tags":[7192,8054,6957],"class_list":["post-104634","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-global-stock-markets","category-market-updates","tag-dow","tag-nike","tag-ppi"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/104634","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=104634"}],"version-history":[{"count":3,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/104634\/revisions"}],"predecessor-version":[{"id":104643,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/104634\/revisions\/104643"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/56368"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=104634"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=104634"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=104634"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}