The Producer Price Index jumped 9.8% year-over-year, the biggest rise in 27 years. On a monthly basis, the PPI gained 1.2% in July, above the estimate of 0.6%, while the core rate, which excludes food and energy, rose a concerning 0.7%, well above the forecast of 0.2%.
The Dow Jones Industrial Average fell 130 points (1.1%) to close at 11,349, the S&P 500 Index was down 12 points (0.9%) at 1,267, and the Nasdaq Composite fell 33 points (1.4%) to 2,384. Crude oil gained $1.66 to $114.53 per barrel, and gold increased $13.80 at $819.50 per ounce.
Magnificent Seven Update
Daily Update Of Open Positions...Stocks & ETFs
