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US stock futures go low after another strong day on Wall Street as rate cut hopes have earned steam, but inflation data and weekly unemployed claims are paid before Bell shakes his emotions.
The July producer price index, which measures the costs of goods and services companies pay each other, is scrutinized for the impact of tariffs. Companies avoided tariffs by loading them into stock before they were eating most of the tariffs. However, when it takes time, many economists say that companies must eventually pass on more tariff costs or see profit margins erode.
The economists voted by Dow Jones expect the PPI in July to rise by 0.2% from June.
Meanwhile, investors take a closer look at weekly unemployment claims against signs of a significant cooling in the labor market. The monthly employment report in July shocked investors as it not only showed weaker new jobs than expected in July, but also saw significant revisions in May and June numbers.
At 6:05am ET, futures tied to the Blue Chip Dow added 0.04%, while the Broad S&P 500 futures slipped -0.03%, while the high-tech Nasdaq futures fell -0.09%.
Corporate News
- Cisco has barely broken through estimates in the last three months of the fiscal year and once again provided guidance to narrowly beat forecasts.
- Ibotta missed its second quarter forecast and issued weak guidance for the third quarter.
- Coherent has beaten quarterly expectations and said it is selling its aerospace and defense operations to register for $400 million.
Cryptocurrency
Bitcoin has climbed a new record of over $124,000 as investors continued to accumulate as digital assets became more mainstream.
Slow regulations and institutional benefits have led to digital assets increasing this year. The US genius law cleared the path to mainstream adoption of stubcoin, and President Donald Trump opened the door for the code to be included in the 401(k) plan.
Additionally, the Ministry of Finance is increasingly investigating the integration of digital assets into its financial management strategy.
Medora Lee is a money, market and personal finance reporter for USA Today. You can contact her at mjlee@usatoday.com and subscribe to our free daily money newsletter for personal finance tips and business news every Monday to Friday morning.
