As investors examined this week’s first set of significant inflation data and assessed new profits, U.S. stocks increased on Tuesday.
Gaining 250 points, or 0.6%, was the Dow Jones Industrial Average. The Nasdaq Composite made 1.4% more gains than the S&P 500 did. Wholesale prices are gauged by the producer price index, which rose by 0.1% in the previous month.
As per the Dow Jones consensus forecasts, economists anticipated that the July data would indicate a 0.2% monthly gain, consistent with the previous month’s figure.
An increase of 0.2% last month is anticipated, up from a 0.1% fall in the previous month, which gave markets hope ahead of the consumer price index, which is more widely watched. An unsettled market could receive some guidance from the data.
Source (CNBC)
