US stocks rose on Thursday morning after another inflation reading that eased September rate-hike bets and a slew of earnings reports.
The Dow Jones Industrial Average and S&P 500 both added about 0.3%, while the tech-heavy Nasdaq Composite moved up 0.2% after a calm day on Wall Street.
Data from the Producer Price Index, which tracks inflation from the sellers’ perspective, showed prices rising by less than expected, another positive sign for investors after Wednesday’s Consumer Price Index report showed inflation easing in July. So-called core readings showed slowdowns of both monthly and annual price appreciation.
Though cooling CPI and PPI data prompted traders to fade bets of a September rate hike, it likely wasn’t enough to settle the divide among policymakers, and Fed watchers still expect at least one rate hike by the end of the year.
Yahoo Finance
