The SPY Takes A Bath On PPI Print, What's Wall Street Saying?
Portfolio Pulse from AJ Fabino
The SPDR S&P 500 ETF Trust (SPY) fell on Friday following the release of the latest Producer Price Index (PPI) data, which showed a 0.8% annualized increase, bouncing back from its revised 0.2% in June and exceeding the expected 0.7% hike. Economists suggest that the PPI report underscores the Federal Reserve's hesitance in claiming success in its inflation containment strategies. Despite July's acceleration, the PPI grew just 0.85% over the year, and business input costs have cooled off notably in July.
August 11, 2023 | 2:29 pm
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The SPDR S&P 500 ETF Trust (SPY) fell following the release of the latest PPI data. The data, which exceeded expectations, may underscore the Federal Reserve's hesitance in claiming success in its inflation containment strategies.
The SPY fell following the release of the PPI data, which exceeded expectations. This suggests that the market may be reacting negatively to the potential implications of this data, including the possibility that the Federal Reserve may struggle to contain inflation. This could lead to increased market volatility and potential downward pressure on the SPY in the short term.
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