Following the first of three key data points expected by market participants this week, the New York stock market is trading on a positive note.
Wall Street reacts upwards this Tuesday as investors analyze the first fact of a series of three key reports that will shed light on inflation and employment this week. The S&P 500 is up 1.1%, the Dow Jones Industrial Average is up 0.7% and the Nasdaq Composite is up 1.5%.
The producer price index (PPI), a measure of wholesale prices, rose 0.1% last month. Economists had expected the reading to show a monthly increase of 0.2% in July, in line with the previous month’s readingaccording to Dow Jones consensus estimates.
The PPI provided encouragement to investors ahead of the consumer price index, which is due out Wednesday morning and is expected to show a 0.2% rise last month, compared with a 0.1% drop in the previous month. The data could provide some direction to an uncertain market after last week’s erratic moves.
Wall Street: What the market is analyzing
“I think markets are moving away from US price data to some extent, given the increasing emphasis on jobs data at the Fed right now,” said Shaun Osborne, chief currency strategist at Scotiabank.Surprises in the data (up or down) can provoke stronger reactions than usual in periods of greater volatility, such as the current one.“.
wall street usa markets
NYSE
Wall Street had a choppy session on Monday, struggling to build on the rally that took place at the end of last week.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
