S&P500 -2.31% (3,340.97); NASDAQ -4.06% (10,853.54); DJIA -1.66% (27,665.64)
This week’s reports:
- August’s CPI rose 1.3% y/y versus the expected 1.2% y/y increase and July’s +1% y/y. CPI ex Food & Energy (Core) rose 1.7% y/y versus July’s +1.6% y/y.
- August’s PPI fell 0.2% y/y versus the expected 0.3% y/y decline and July’s -0.4% y/y. PPI ex Food & Energy (Core) rose 0.6% y/y, twice more than was expected, versus July’s +0.3% y/y.
- July’s Consumer Credit rose by $12.25 billion, rebounding for a second straight month, from June’s +$11.39 billion. The increase was led solely by a rise in non-revolving debt, while revolving credit contracted for a fifth straight month, albeit at a much slower pace than in previous months.
- August’s NFIB Small Business Optimism Index jumped to 100.2 from July’s reading of 98.8; it was expected to decline to 98.
- July’s Wholesale Inventories declined 0.3% from June’s -0.1%.
- Initial Jobless Claims for the week ending September 5th were unchanged from the previous week’s 884K, versus the expected decline to 846K. Continuing Jobless Claims for the week ending August 29th rose by 93K to 13.385M, versus the expectations of an increase to 12.925M continuing claims.