Futures Rise Amid Anticipation of Producer Price Index Data Release
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Market Overview
Stocks wobbled on Monday, with the S&P 500 nearly flat while the Nasdaq (low) managed modest gains, following a turbulent week marked by mixed economic reports and a rate hike by Japan's central bank. Traders are eagerly awaiting the upcoming U.S. Producer Price Index (PPI) data.
Producer Price Index Projections
The PPI is expected to indicate that inflation moderated to 2.3% in July on a yearly basis, while it remains unchanged at 0.2% for the month (low). This data will be pivotal for investors looking to understand economic trends.
Interest Rate Outlook
- Traders remain split on whether the Federal Reserve will implement a 25- or 50-basis point cut in September.
- Expectations for the year-end interest rate are currently around 4.25%-4.50% according to CME's FedWatch Tool.
The release of the PPI data is set to grab the spotlight, which may significantly influence future market movements and Federal Reserve policies.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.