US PPI for June
- US PPI YoY, 1.7% versus 1.6% estimate. 1.8% last month
- US PPI Ex food and energy 2.3% versus 2.1% estimate. 2.3% last month
- US PPI ex food, energy and trade, 2.1% versus 2.3% last month
- PPI final demand MoM, 0.1% versus 0.0% estimate. 0.1% last month
- PPI ex food and energy MoM, 0.3% versus 0.2% estimate. 0.2% last month
- PPI ex food, energy, trade MoM 0.0% versus 0.2% estimate. 0.4% last month
The data is a little better than expectations. It will still not prevent the Fed from cutting rates at the July meeting.
The premarket for stocks are down a little lower
- Dow is up 75 points
- S&P, up 6.5
- Nasdaq up 14.72 points
The S&P is looking to open above 3000 today a close above that level would be a record close for the index. The Nasdaq and Dow closed at record levels yesterday.
THe US yields are marginally higher now after being down -1 to -2 bps earlier.