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<ul class="summary-list"><li>Indexes wavered Thursday as traders received wholesale inflation data.</li><li>The producer price index showed prices rising 0.2% last month as expected. </li></ul>Indexes traded mixed on Thursday as traders assessed new inflation data and waited for remarks from Federal Reserve Chair Jerome Powell. The S&amp;P 500 and Dow Jones Industrial Average were nearly flat, while the Nasdaq inched higher. Bond yields dipped as another tame inflation report opened the door further for another rate cut in December. The 10-year Treasury yield dipped three basis points to 4.418%. The producer price index showed whole sale prices rose 0.2% in October, the Bureau of Labor Statistics reported Thursday.The reading was in line with expectations but showed inflation remains somewhat sticky as the yearly increase came in at 2.4%. Core PPI, which excludes more volatile food and energy prices, rose 0.3% in the month and 3.1% year-over-year.Investors will tune into Fed Chair Jerome Powell's remarks at 3 p.m. ET Thursday. His comment will follow the Fed's 25 basis point interest rate cut last week, with traders listening for clues about what the path may look like after this year. Donald Trump's election win has stoked fears that inflation could rise again under his proposed policies, such as sweeping tariffs and a crackdown on immigration, which could shake the Fed from its easing path, economists say.Traders expect the central bank to cut another 25 basis points at its December meeting before pausing in January, according to CME <a target="_blank" class="" href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">FedWatch tool</a>.Meanwhile, data on Thursday showed weekly jobless claims dropped to their lowest since May, falling to 217,000 last week, a 4,000 decline from the week prior.Here's where US indexes stood shortly after the 9:30 a.m. opening bell on Thursday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,984.74, down 0.01% </li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 43,984.72, up 0.06% (+26.53 points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 19,245.86, up 0.08%</li></ul>Here's what else is going on:<ul><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/nvidia-stock-price-outlook-upside-blackwell-rubin-apple-iphone-moment-2024-11">Nvidia stock</a> has 25% upside as it approaches an iPhone moment with its Blackwell chip, analyst says.</li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/currencies/robinhood-crypto-tokens-solana-pepe-trump-coinbase-sec-2024-11">Robinhood</a> adds tokens to its platform as crypto enthusiasm surges following the election.</li><li>Stock exposure hits 11-year high as investors expect US equities to be the <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-top-performing-asset-2025-bull-rally-trump-2024-11">top-performing asset</a> in 2025, BofA survey says.</li><li><a target="_blank" class="" href="https://www.businessinsider.com/russia-economy-outlook-stagflation-recession-inflation-gdp-growth-ukraine-war-2024-11">Russia's economy</a> is heading toward a fate worse than recession, pro-Kremlin economists say.</li></ul>In commodities, bonds, and crypto:<ul><li>Oil futures rose. <a target="_blank" class="" href="https://markets.businessinsider.com/commodities/oil-price?type=wti">West Texas Intermediate crude</a> rose 1.2% to $69.27 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets">Brent crude</a>, the international benchmark, rose 1.1% to $73.11 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price?utm_medium=ingest&amp;utm_source=markets">Gold</a> fell 0.7% to $2,569.10 an ounce.</li><li>The 10-year Treasury yield dipped three basis points to 4.418%.</li><li><a target="_blank" class="" href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> edged up to $91,466.</li></ul>

Stock market today: Indexes mixed as traders digest wholesale inflation and await Powell's remarks

In line with the moderation in <keyword id="513422" type="General" weightage="20" keywordseo="retail-inflation" source="Orion">retail inflation</keyword>, wholesale <keyword id="158363" type="General" weightage="100" keywordseo="inflation-in-india" source="Orion">inflation in India</keyword> too witnessed a sharp decline in July. The annual rate of <keyword id="19895000" type="General" weightage="20" keywordseo="inflation" source="keywords">inflation</keyword> based on all India <keyword id="59350" type="General" weightage="20" keywordseo="Wholesale-Price-Index" source="Orion">Wholesale Price Index</keyword> (WPI) number is 2.04 per cent (provisional) for the month of July, 2024 (over July 2023). It continues to remain in the positive territory for the ninth month after remaining in the negative zone for seven months until October. Economists often say a little rise in <keyword id="280418" type="General" weightage="20" keywordseo="wholesale-inflation" source="Orion">wholesale inflation</keyword> is good as it typically incentivises goods manufacturers to produce more. For food index, which has 24.38 per cent weightage, the rate of wholesale inflation decreased from 8.68 per cent in June, 2024 to 3.55 per cent in July. The increase last month was largely due to higher prices in various categories including food articles, manufacture of food products, crude petroleum and natural gas, mineral oils, and other manufacturing sectors. The government releases index numbers of <keyword id="116267" type="General" weightage="20" keywordseo="wholesale-prices" source="Orion">wholesale prices</keyword> on a monthly basis on the 14th of every month (or the next working day). The index numbers are compiled with data received from institutional sources and selected manufacturing units across the country. In April last year, the wholesale inflation went into negative territory. Similarly, in the initial days of COVID-19, in July 2020, the WPI was reported negative. Overall wholesale inflation was 8.39 per cent in October 2022 and has fallen since then. Notably, the wholesale price index (WPI)--based inflation had been in double digits for 18 months in a row till September 2022. Meanwhile, India's retail inflation, after breaching 5 per cent in June, softened drastically in July. According to data released by the Ministry of Statistics and Programme Implementation, retail inflation or Consumer Price Index in July was at 3.54 per cent, which is the lowest in the last 59 months. In June, taking a departure from the moderation it witnessed in the past months, it rose to 5.08 per cent, pushed by rising food prices. Food inflation for July 2024 is the lowest since June 2023. Year-on-year inflation rate based on All India Consumer Food Price Index (CFPI) number is 5.42 per cent (Provisional) for the month of July, 2024. The corresponding inflation rate for rural and urban is 5.89 per cent and 4.63 per cent, respectively. Rising food prices continued to be a headache for Indian consumers with the inflation rate in the food segment almost doubling year-on-year in June. Food prices continue to remain a pain point for the policymakers in India, who wish to bring retail inflation to 4 per cent on a sustainable basis. However the latest retail inflation data showed the overall inflation has aligned with the intended target. Inflation has been a concern for many countries, including advanced economies, but India has largely managed to steer its inflation trajectory quite well. The eased month-on-month retail inflation, barring June, came on the heels of RBI having maintained the status quo in the repo rate for the ninth straight occasion. Barring the recent pauses, the RBI has raised the repo rate by 250 basis points cumulatively since May 2022 in the fight against inflation. Raising interest rates is a monetary policy instrument that typically helps suppress demand in the economy, thereby helping the inflation rate decline. The repo rate is the rate of interest at which the RBI lends to other banks.

Amid declining retail inflation, wholesale inflation in India moderates to 2.04% in July

<ul class="summary-list"><li>US stocks rose as September's wholesale price data showed cooling inflation.</li><li>The producer price index was flat, and core PPI rose less than expected in September.</li></ul>US stocks edged higher on Friday after Producer Price Index data for September came in lower than expected, signaling a continued cooling of wholesale inflation.The producer price index was flat month-over-month, below economist estimates of a 0.1% rise. Meanwhile, Core PPI rose 0.1% in September, compared to an expected rise of 0.2%.TradeStation strategist David Russell told Business Insider the data supports another interest rate cut from the Federal Reserve."CPI might have seemed hot, but PPI was not. Overall, these numbers are getting less impactful as inflation moderates. The Fed could still be on track for 25 basis points at the next two meetings. Yields have surged lately, but it's not clear they have much more reason for continued upside," Russell said.Investors are also digesting <a target="_blank" class="" href="https://www.businessinsider.com/jpmorgan-earnings-q3-jamie-dimon-economy-geopolitics-banking-wall-street-2024-10">earnings results from JPMorgan,</a> Wells Fargo, and BlackRock. All three stocks moved higher after the results, which beat analyst estimates on most fronts.JPMorgan CEO Jamie Dimon praised his bank's performance in the earnings release, but <a target="_blank" class="" href="https://www.businessinsider.com/jpmorgan-earnings-q3-jamie-dimon-economy-geopolitics-banking-wall-street-2024-10">warned that geopolitical conditions</a> are "treacherous and getting worse."Apart from earnings results, retail sales data, set to be released on October 17, <a target="_blank" class="" href="https://www.businessinsider.com/us-economy-outlook-retail-sales-no-landing-inflation-jobs-report-2024-10">is the next big data release for investors to watch.</a>Bank of America analysts expect September retail sales data to show a 0.8% surge, while consensus estimates expect just 0.2% growth.Here's where US indexes stood shortly after the 9:30 a.m. opening bell on Friday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,785.90, up 1.25% </li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 42,617.12, up 0.38% (+163 points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 18,219.70, down 0.34% </li></ul>Here's what else is going on:<ul><li><a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-tesla-robotaxi-cybercar-analysts-self-driving-fleet-ai-2024-10">Tesla unveiled its robotaxi in an event Thursday night, but Wall Street isn't impressed.</a></li><li><a target="_blank" class="" href="https://www.businessinsider.com/chinese-carmaker-chery-russia-sanctions-west-assets-seizure-volkswagen-mercedes-2024-10">A Chinese automaker has taken over Russian plants abandoned by Volkswagen and Mercedes.</a></li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/currencies/russia-economy-moscow-china-yuan-sanctions-bank-transactions-ruble-dollar-2024-10">Russia's ruble hit its lowest level in a year against the dollar and the yuan.</a></li></ul>In commodities, bonds, and crypto:<ul><li><a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">West Texas Intermediate</a> crude oil was down 0.69% to $75.33 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">Brent crude</a>, the international benchmark, was lower by 0.69% to $78.85 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price">Gold</a> was up 0.97% to $2,664.90 an ounce.</li><li>The 10-year Treasury yield was higher by 3 basis points at 4.101%.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> was higher by 1.78% to $61,351.</li></ul>

Stock market today: US stocks edge up after wholesale inflation comes in cool

Mumbai: The Indian <keyword id="19949639" type="General" weightage="100" keywordseo="rupee" source="keywords">rupee</keyword> turned flat at 83.94 against the US <keyword id="19904292" type="General" weightage="20" keywordseo="dollar" source="keywords">dollar</keyword> in early trade on Friday amid concerns over elevated crude oil prices and the outflow of foreign capital from domestic <keyword id="19949641" type="General" weightage="20" keywordseo="equity-markets" source="keywords">equity markets</keyword>. However, a positive sentiment in the domestic as well as global equity markets and a weak American currency supported the rupee, <keyword id="19950258" type="General" weightage="20" keywordseo="forex" source="keywords">forex</keyword> traders said. At the interbank foreign exchange, the rupee opened at 83.93 and slipped further to trade at its previous session's closing level of 83.94 against the greenback. On Wednesday, the rupee settled 3 paise higher at 83.94 against the US dollar. The forex markets were closed on Thursday on account of the Independence Day. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading marginally lower by 0.01 per cent at 102.80. Brent crude, the global oil benchmark, declined 0.25 per cent to USD 80.84 per barrel. On the domestic equity market front, Sensex surged 811.34 points, or 1.03 per cent, to 79,917.22 points. The broader Nifty also climbed 246.20 points, or 1.02 per cent, to 24,389.95 points. Foreign institutional investors (FIIs) were net sellers in the capital markets on Wednesday, as they offloaded shares worth Rs 2,595.27 crore, according to exchange data. On the domestic macroeconomic front, <keyword id="20196568" type="General" weightage="20" keywordseo="wholesale-inflation" source="keywords">wholesale inflation</keyword> fell to a 3-month low of 2.04 per cent in July on the decline in prices of food items, especially vegetables, government data released on Wednesday showed. The latest government data released on Wednesday showed India's exports contracted 1.2 per cent to USD 33.98 billion in July, while the trade deficit widened to USD 23.5 billion.

Rupee turns flat at 83.94 against US dollar in early trade

<keyword id="280418" type="General" weightage="100" keywordseo="Wholesale-inflation" source="Orion">Wholesale inflation</keyword> in the country surged to a 16-month high of 3.36% in June on account of rise in prices of <keyword id="21654959" type="General" weightage="20" keywordseo="food-articles" source="keywords">food articles</keyword>, especially <keyword id="19996547" type="General" weightage="20" keywordseo="vegetables" source="keywords">vegetables</keyword> and manufactured items. This was the fourth consecutive month when <keyword id="19895000" type="General" weightage="20" keywordseo="inflation" source="keywords">inflation</keyword> witnessed an upward journey. The wholesale price index (<keyword id="19936844" type="General" weightage="20" keywordseo="WPI" source="keywords">WPI</keyword>) based inflation was 2.61% in May. It was (-) 4.18% in June 2023. Wholesale inflation had touched a high of 3.85% in February 2023."Positive rate of inflation in June, 2024 is primarily due to increase in prices of food articles, manufacture of food products, crude petroleum &amp; natural gas, mineral oils, other manufacturing etc," the Ministry of Commerce &amp; Industry said in a statement on Monday. As per the data, inflation in food articles rose 10.87% cent in June, as against 9.82% in May. Inflation in vegetables was 38.76% during June, up from 32.42% in May. Onion inflation was at 93.35%, while potato was 66.37% in the month under review. Pulses inflation rose 21.64% in June. During the month, inflation in other food items like fruits stood at 10.14%, cereals at 9.27%, and milk at 3.37%. The up move in the WPI inflation in June 2024 was broad-based, driven by all the major segments except fuel and power, ICRA Chief Economist Aditi Nayar said. Looking ahead, she said, the headline WPI inflation is expected to dip to about 2% in July 2024, driven by a favourable base, as well as some cooling in global commodity prices. With regard to oil prices, she said, the average price of the Indian basket of crude oil has been quite volatile in July 2024 so far, on the back of supply-demand mismatches, witnessing a month-on-month rise (USD 86.6/bbl up to July 11). Higher crude oil prices might exert an upward pressure to the headline WPI inflation in the ongoing month, she added. In the fuel and power basket, inflation stood at 1.03%, marginally lower than 1.35% in May. However, price rise in crude petroleum &amp; natural gas was in double digit at 12.55%during the month. In manufactured products, inflation was at 1.43% in June, higher than 0.78% in May. The rise in June WPI was in line with the <keyword id="19999652" type="General" weightage="20" keywordseo="retail-inflation" source="keywords">retail inflation</keyword> data for the month. Retail inflation rose to a four-month high of 5.1% in June, data released last week showed. The <keyword id="19899810" type="General" weightage="20" keywordseo="Reserve-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Reserve Bank of India" meta.hostid="267" meta.entityid="Reserve Bank of India">Reserve Bank of India</keyword> (<keyword id="19899808" type="General" weightage="20" keywordseo="rbi" source="keywords">RBI</keyword>) mainly takes into account retail inflation while framing the monetary policy.

WPI inflation surges to 16-month high of 3.36% in June on costlier vegetables

<ul class="summary-list"><li>Stocks rose Thursday after another encouraging inflation reading.</li><li>The producer price index slid 0.2% month over month against forecasts of a 0.1% decrease.</li></ul>US stocks continued their rally to record highs on Thursday after investors took in another cooler-than-expected inflation print.Stocks capped off Wednesday's session at a record, with markets pointing toward fresh all-time highs as trading kicked off on Thursday.In May, the producer price index slid 0.2% month over month against forecasts of a 0.1% decrease. According to Bloomberg, that marks the largest decline for the wholesale-inflation gauge since October. PPI rose 2.2% from a year ago."Thursday's weaker-than-expected PPI data is another sign of continued progress on inflation, and it keeps the prospect of a rate cut alive in 2024," Clark Bellin, Bellwether Wealth's chief investment officer, said.The PPI report follows similar softness in <a target="_blank" href="https://www.businessinsider.com/cpi-inflation-may-prices-rent-gas-fed-interest-rates-2024-6">Wednesday's report on the consumer price index</a> for May, which prompted hope that the Federal Reserve has room to cut interest rates this year.The 10-year Treasury yield continued its slide lower, dropping two basis points to 4.373% after a steep decline Wednesday following the cooler CPI reading.Fed officials noted progress on inflation, though interest rates were left unchanged after this week's policy meeting, with one interest-rate cut penciled in. However, investors remain more optimistic, expecting two 25-basis-point cuts, according to the <a target="_blank" href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">CME FedWatch Tool</a>.Tesla stock jumped more than 6% as <a target="_blank" href="https://x.com/elonmusk/status/1801084780035154058?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1801084780035154058%7Ctwgr%5E86fa75e74678922c3b9caf7214eae5d000d29556%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.cnbc.com%2F2024%2F06%2F13%2Felon-musk-says-tesla-shareholders-likely-approved-his-56-billion-pay-deal.html">Elon Musk said on X</a> that his $56 billion compensation package was headed for shareholder approval. DealBook reported Thursday morning that Vanguard and BlackRock would vote in favor of the pay deal, giving Musk a boost from two of the world's biggest asset managers.Here's where US indexes stood at the 9:30 a.m. opening bell on Thursday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,429.86, up 0.16%</li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 38,566.01, down 0.38% (minus 133.22 points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 17,692.39, up 0.48%</li></ul>Here's what else is going on today:<ul><li><a target="_blank" href="https://markets.businessinsider.com/news/stocks/gamestop-stock-profits-share-sale-cash-pile-raoaring-kitty-gme-2024-6?_gl=1*sialwc*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcxODI4MjMzOS4zMjIuMS4xNzE4Mjg0MDEzLjIwLjAuMA..">GameStop could make more money than in recent quarters just by sitting on its $4 billion cash pile</a>.</li><li><a target="_blank" href="https://markets.businessinsider.com/news/stocks/black-swan-spx-stock-market-bubble-crash-spitznagel-universa-taleb-2024-6?_gl=1*1674h90*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcxODI4MjMzOS4zMjIuMS4xNzE4Mjg0Mjk5LjIuMC4w">The worst stock crash since 1929 is coming</a> after a brief rally in the S&amp;P 500, a "black swan" investor says.</li><li>A new South African policy is being hailed as the <a target="_blank" href="https://www.businessinsider.com/south-africa-ubi-universal-basic-income-poverty-cash-giveaway-anc-2024-6">first national universal-basic-income program</a> — it's not, experts say.</li></ul>In commodities, bonds, and crypto:<ul><li><a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets">West Texas Intermediate</a> crude oil ticked down 0.24% to $78.09 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets">Brent crude</a>, the international benchmark, inched up 0.16% to $82.73 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price?utm_medium=ingest&amp;utm_source=markets">Gold</a> slid 0.20% to $2,318.42 an ounce.</li><li>The 10-year Treasury yield dropped two basis points to 4.373%.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd?utm_medium=ingest&amp;utm_source=markets">Bitcoin</a> fell 1.8% to $68,071.62.</li></ul>

Stock market today: US stocks climb as wholesale inflation data shows big cooldown in prices

<ul class="summary-list"><li>The producer price index came in higher than estimates, gaining 0.5% in April.</li><li>Major indexes were slightly higher after the data as investors assessed the impact on rate cut outlooks. </li></ul>US indexes edged slightly higher Tuesday morning as traders assessed fresh inflation data. April's producer price index data beat estimates, gaining 0.5% for the month against 0.3% consensus estimates. But inflation concern was partially mitigated by a revised 0.1% decline in March.The PPI data comes a day before Wednesday's consumer price index and will give investors a broader frame of reference. If CPI data is equally hot, the stuttering stock rally could face even more negative consequences."Today's PPI is a bad omen for tomorrow's CPI number – despite the relationship between the two being somewhat complicated – and if the market is spooked by today's higher-than-expected PPI number, then it will be even more disturbed by a higher-than-expected CPI number tomorrow," said Chris Zaccarelli, Chief Investment Officer for Independent Advisor Alliance.Ahead of the report, investors anticipate core CPI to rise 0.3% in April, below the 0.4% gain in March.Meanwhile, Federal Reserve Chairman Jerome Powell will speak later on Tuesday, potentially offering hints about when the central bank could cut rates. Elsewhere in markets, meme stocks are back as GameStop and AMC post huge two-day gains on the back of <a href="https://twitter.com/DeepFuckingVlu/status/1789998891149979916" target="_blank" rel="noopener">a cryptic tweet</a> from retail trading icon Keith Gill.The 10-year Treasury briefly topped 4.5% after the PPI data before slipping by about one basis point to 4.465. Here's where US indexes stood at the 9:30 a.m. opening bell on Tuesday: <ul><li><a href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,221.29, up 0.01%</li><li><a href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 39,442.78, up 0.03% (+11.27 points)</li><li><a href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 16,408.86, up 0.14%</li></ul>Here's what else is going on today:<ul><li>Gamestop's <a href="https://markets.businessinsider.com/news/stocks/gamestop-meme-stocks-roaring-kitty-wall-street-bets-jim-chanos-2024-5?_gl=1*t3kpob*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcxNTY5MDE3Mi4zOTUuMS4xNzE1NjkwOTM5LjYwLjAuMA..">sharp rally continues for a second day</a>, but to one market guru, it's all a 'speculation orgy.'</li><li>Why today's economic strength means a <a href="https://www.businessinsider.com/recession-outlook-hard-landing-us-economy-government-debt-real-estate-2024-5">harder landing in 2025</a>, according to Apollo's Torsten Slok.</li><li>3 reasons <a href="https://markets.businessinsider.com/news/currencies/de-dollarization-dollar-war-currency-usd-dominance-china-yuan-economy-2024-5?_gl=1*1p64i9y*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcxNTY5MDE3Mi4zOTUuMS4xNzE1NjkxMjc4LjYwLjAuMA..">the dollar won't lose its top spot</a> in global trade and finance, according to Morgan Stanley.</li></ul>In commodities, bonds, and crypto: <ul><li><a href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets">West Texas Intermediate</a> crude oil fell 0.48% to $78.85 a barrel. <a href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets">Brent crude</a>, the international benchmark, dropped 0.44% to $83.09 a barrel. </li><li><a href="https://markets.businessinsider.com/commodities/gold-price?utm_medium=ingest&amp;utm_source=markets">Gold</a> climbed 0.54% to $2,344.14 per ounce. </li><li>The 10-year Treasury yield edged down to 4.465%. </li><li><a href="https://markets.businessinsider.com/currencies/btc-usd?utm_medium=ingest&amp;utm_source=markets">Bitcoin</a> slid 1% to $61,963. </li></ul>

Stock market today: Indexes edge up as traders digest wholesale inflation data

The Reserve Bank is unlikely to ease the benchmark policy rate from 6.5% during 2024, given the persisting uncertainty over <keyword id="19999654" type="General" weightage="20" keywordseo="food-inflation" source="keywords">food inflation</keyword>, State Bank of India (<keyword id="19898108" type="General" weightage="20" keywordseo="SBI" source="keywords">SBI</keyword>) chairman C S Setty has recently said. The US Federal Reserve's first cut in <keyword id="20071327" type="General" weightage="20" keywordseo="interest-rate" source="keywords">interest rate</keyword>s in more than four years happened today, triggering central banks in other economies to follow suit. The Fed trimmed the interest rates by 50 basis point trim to its target interest rate range to 4.75-5%. "On the rate front, a lot of central banks are taking independent calls. While Fed rate cut would influence everyone, <keyword id="19899808" type="General" weightage="20" keywordseo="RBI" source="keywords">RBI</keyword> would be mindful of the food inflation before taking a call on interest rate cut," Setty, who recently took over the reins of the bank, was noted as saying. "Our view is also that the rate cut during the current calendar year may not happen. Probably, we may have to wait for Q4 (January-March 2025) unless there is a good improvement in terms of food inflation," he added. Notably, RBIs <keyword id="19913109" type="General" weightage="100" keywordseo="Monetary-Policy-Committee" source="keywords">Monetary Policy Committee</keyword> (MPC), headed by RBI Governor Shaktikanta Das is scheduled to meet next month, between October 7-9 and take a call on interest rate. The committee will largely take <keyword id="19999652" type="General" weightage="20" keywordseo="retail-inflation" source="keywords">retail inflation</keyword>, which inched to 3.65% in August, up from 3.54% in July, into account for making rate-related decisions On the other hand, India's wholesale price index (WPI) eased to 1.31% on an annual basis, which is also a 4-month low, down from 2.04% in July. The data, released recently by the government, also highlighted the stickiness of food price inflation, which stood largely undeterred at 3.11% in August, as compared to 3.45% in July. Although WPI rates do not directly impact RBIs decision making, it does affect the retail inflation rates, although it takes time to reflect the same. Says Rahul Agrawal, Senior Economist at ICRA Ltd, “The <keyword id="20198768" type="General" weightage="20" keywordseo="WPI-inflation" source="keywords">WPI inflation</keyword> eased to a four-month low in August 2024, with the fuel and power, core (non-food manufacturing), and crude petroleum and natural gas sub-groups together pulling down the headline WPI print by as much as 70 bps in the month vis-à-vis July 2024. The core WPI inflation dipped to 0.7% in August 2024 from 1.2% in July 2024, amidst a continued softening in global commodity prices. "While prices of most food items have eased further on a month-on-month basis in September 2024, an adverse base would push up the YoY inflation prints for the primary food articles category significantly in the ongoing month, exerting upward pressure to the headline WPI inflation print for September 2024", said Agrawal. The price of the Indian basket of crude oil has averaged 6.0% lower in September 2024 on a sequential basis, touching the lowest levels in 33 months, which would also help contain the uptick in the headline WPI inflation print in the month. We anticipate WPI to touch the 2.0% in September 2024 from 1.3% in August 2024", he continued. Amongst the food articles whose prices dipped during the month were cereals (8.44%), paddy (9.12%), pulses (18.57%) and onions (65.75%), it did little to tame inflation, which continued to stay put in double digits. On the other hand, prices of potato (77.96%) and fruits (16.7%) inched up. The dip in WPI was largely led by slowdown in prices of manufactured food products (3.61%), beverages (1.9%), pharmaceuticals (1.97%) and petrol (4.23%). "While there may not be a one-to-one correspondence between the WPI and the CPI data because of the items, size, number, and relative weights assigned, the CPI data will also down-trend in sync with the RBI’s medium-term target of 4 % for the second time in nearly five years. However high food prices will induce the RBI to be wary", notes Manoranjan Sharma, Chief Economist, Infomerics Ratings.

RBI unlikely to cut interest rate in 2024, food inflation to be deciding factor, says SBI chief Setty

<keyword id="19896016" type="General" weightage="20" keywordseo="new-delhi" source="keywords">New Delhi</keyword>, The wholesale price index (WPI)-based <keyword id="22195" type="General" weightage="20" keywordseo="inflation" source="Orion">inflation</keyword> eased in January to 0.27 per cent, mainly due to moderation in prices of food items. <keyword id="244776" type="General" weightage="20" keywordseo="wpi-inflation" source="Orion">WPI inflation</keyword> was at 0.73 per cent in December 2023. The WPI inflation was in the negative zone from April to October and had turned positive in November at 0.39 per cent. "The annual rate of inflation based on the All India Wholesale Price Index (WPI) number is 0.27 per cent (provisional) for the month of January, 2024 (over January, 2023)," the commerce and industry ministry said in a statement on Wednesday. Food inflation eased to 6.85 per cent in January, compared to 9.38 per cent in December 2023, data showed. Inflation in vegetables was 19.71 per cent in January, down from 26.3 per cent in the preceding month. The WPI inflation in pulses was at 16.06 per cent in January, while in fruits it was 1.01 per cent. The wholesale inflation in January 2023 was 4.8 per cent.

Wholesale inflation eases to 0.27% in January as food prices moderate

India's <keyword id="22195" type="General" weightage="20" keywordseo="inflation" source="Orion">inflation</keyword> rate based on the Wholesale Price Index (<keyword id="19936844" type="General" weightage="100" keywordseo="wpi" source="keywords">WPI</keyword>) rose to a nine-month high of 0.73% for December 2023 up from 0.26 in November, official data released on Monday showed. The country's WPI-based inflation had turned positive in November after sticking to negative territory for the preceding seven months. The positive rate of inflation in December, 2023 is primarily due to increase in prices of food articles, machinery &amp; equipment, other manufacturing, other transport equipment and computer, electronics &amp; optical products, the Commerce ministry said. The figures show a 9.38% increase in <keyword id="3283205" type="General" weightage="20" keywordseo="wholesale-food-prices" source="Orion">wholesale food prices</keyword> while those of the fuel group declined by (-) 2.14%. The retail inflation figures released earlier this month had shown a 5.69% increase in December up from 5.55% in November with higher food prices stretching household budgets. Food inflation, which accounts for close to half of the overall consumer price index (CPI), shot up by 9.05% from 8.657% in November. The prices of vegetables, pulses, spices and fruits rose sharply during the month. However, there was some consolation in cooking oil prices declining during the month. The <keyword id="19899808" type="General" weightage="20" keywordseo="rbi" source="keywords">RBI</keyword> bases its monetary policy on the retail inflation figures. Suman Chowdhury, Chief Economist and Head - Research, Acuite Ratings &amp; Research said, "On expected lines, the WPI trajectory has continued to be benign at 0.73% YoY in Dec-23 from 0.26% YoY in Nov-23. While the slight annualised uptick is on account of the base factor, there is a sequential contraction by 0.9% which is seasonally driven due to the softness in food articles." "The wholesale inflation for manufactured goods has persisted to be in the contractionary zone at -0.7% YoY and at - 0.2% MoM. It is the tenth successive month that manufacturing inflation has remained in a deflation mode. Further, the fuel and power category has also exhibited the same trend at - 2.4% YoY and -0.7% MoM. This indicates that input costs remain favourable for the industrial segment in the absence of a strong global demand. "In the near term, the deflationary trend in manufactured goods is likely to remain. Overall WPI inflation print is expected to be shaped by the trend in the food category and in the absence of any major surprises, should remain range bound between 0% -1.0%," said Chowdhury.

Wholesale price inflation rises to 9-month high in Dec

Prime Minister Narendra Modi, on Wednesday, congratulated Reserve Bank of India's (RBI) Governor, Shaktikanta Das for bagging an A+ grade rating in the Global Finance Central Banker Report Cards 2024. Prime Minister in a post on social media "X" said, "Congratulations to RBI Governor Shri @DasShaktikanta for this feat, and that too for the second time. This is a recognition of his leadership at the RBI and his work towards ensuring <keyword id="19900794" type="General" weightage="20" keywordseo="economic-growth" source="keywords">economic growth</keyword> and stability." <keyword id="20850250" type="General" weightage="20" keywordseo="RBI-Governor-Das" source="keywords">RBI Governor Das</keyword> has been awarded the A+ grade rating for the second consecutive year. The Central Banker Report Cards, published annually by Global Finance since 1994, grade the central bank governors of nearly 100 key countries, territories, and districts, as well as the European Union, the Eastern Caribbean Central Bank, the Bank of Central African States and the Central Bank of West African States. Grades are based on an "A+" to "F" scale for success in areas such as <keyword id="21364628" type="General" weightage="20" keywordseo="inflation-control" source="keywords">inflation control</keyword>, economic growth goals, currency stability and <keyword id="22859834" type="General" weightage="20" keywordseo="interest-rate-management" source="keywords">interest rate management</keyword>. "A" represents an excellent performance, down through "F" for outright failure. "Central bankers have waged war against <keyword id="19895000" type="General" weightage="20" keywordseo="inflation" source="keywords">inflation</keyword> over the past few years, wielding their primary weapon: higher interest rates. Now, countries around the world are witnessing the tangible results of these efforts, as inflation has dropped significantly," said Global Finance founder and editorial director Joseph Giarraputo. The RBI has been successful in controlling the larger macroeconomic situations in the country. The apex bank is actively working to push economic growth through its <keyword id="20900764" type="General" weightage="20" keywordseo="monetary-policies" source="keywords">monetary policies</keyword>. The RBI recently kept the the <keyword id="20094323" type="General" weightage="20" keywordseo="repo-rate" source="keywords">repo rate</keyword> unchanged at 6.5 per cent after the deliberations of the Monetary Policy Commitee meeting earlier this month. The move reflects the central bank's cautious approach amid ongoing economic uncertainties. Announcing the monetary policy decisions, Das had said that the decision to keep the repo rate steady comes amidst persistent concerns about inflation, which remains above the RBI's target range. RBI Governor Das said that the inflation will moderate from July onwards as the monsoon has improved and global food prices have shown signs of easing in July. The Q1 <keyword id="19999655" type="General" weightage="20" keywordseo="Consumer-Price-Index" source="keywords">Consumer Price Index</keyword> (CPI) inflation for the current financial year (2024-25) is projected at 4.5 per cent. CPI inflation for the first quarter of the next financial year (Q1 2025-26) is projected at 4.4 per cent, as announced by the RBI Governor. India's retail inflation, after breaching 5 per cent in June, softened drastically in July. In line with the moderation in retail inflation, wholesale inflation in India too witnessed a sharp decline in July. The annual rate of inflation based on all India Wholesale Price Index (WPI) numbers is 2.04 per cent (provisional) for July 2024 (over July 2023).

PM Modi congratulates RBI Governor Das on A+ rating in Global Finance Report

<ul class="summary-list"><li>US stocks rose were mostly higher Thursday morning as wholesale prices increased less than expected in March. </li><li>The producer price index rose by 0.2% for the month, short of the 0.3% expected by economists. </li></ul>Major stock indexes trimmed losses Thursday morning as a key inflation gauge for wholesale prices rose less than anticipated in March.Stocks recovered some losses from Wednesday's big sell-off, while Treasury 10-year yields edged lower, though remained above the closely watched 4.5% threshold.According to <a href="https://www.bls.gov/news.release/ppi.nr0.htm" target="_blank" rel="noopener">a release</a> from the Bureau of Labor Statistics on Thursday, the producer price index rose by 0.2% for the month, falling short of the 0.3% estimate from the Dow Jones consensus. Though it came in cooler than expected, the reading still marks the biggest jump in 11 months.Excluding food and energy, core PPI climbed by 0.2%, in line with forecasts. When trade services are excluded from the core level, the monthly increase stood at 0.2%, but surged by 2.8% compared to a year ago.Meanwhile, unemployment claims clocked in at 211,000 for the week ending April 6, down from the previous week's reading of 222,000.The latest data arrives after Wednesday's publication of consumer price index data, which showed inflation rose 3.5% year-over-year in March. The reading was higher than expected and has complicated the market's outlook for interest rate cuts from the Federal Reserve. George Ball, chairman of a Houston-based investment firm, Sanders Morris, said in a note on Thursday morning that the latest PPI indicates that inflation data is inherently inconsistent despite instilling some encouragement. "All eyes are on the PCE report at the end of April as the most accurate gauge on inflation, as the PCE is the Fed's favored inflation gauge. Until then, only spasms of rate guessing will mark the markets," he said. "It's not going to be Fed rate cuts that drive the market going forward, rather it's going to be earnings, which should be $250 on the S&amp;P 500 this year. Corporate earnings are much stronger than people have anticipated even in this elevated interest rate environment," he added. Here's where US indexes stood shortly after the 9:30 a.m. opening bell on Thursday: <ul><li><a href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,161.16, up 0.01% </li></ul><ul><li><a href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 38,381.85, down 0.21% (-79.66 points)</li></ul><ul><li><a href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq Composite</a>: 16,228.42, up 0.35% </li></ul>Here's what else is going on:<ul><li><a href="https://markets.businessinsider.com/news/stocks/stock-market-crash-inflation-fed-rates-outlook-dot-com-bubble-2024-4">Stocks are headed for a dead zone</a> with losses on par with past crashes, a top fun manager says. </li><li><a href="https://markets.businessinsider.com/news/currencies/dedollarization-usd-dominance-central-bank-reserve-gold-yuan-2023-2024-4">The dollar's demise has been exaggerated</a>, according to ING. </li></ul>In commodities, bonds, and crypto: <ul><li><a href="https://markets.businessinsider.com/commodities/oil-price?type=wti">West Texas Intermediate</a> crude oil fell by 0.78% to $85.54 a barrel. <a href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Brent crude</a>, the international benchmark, fell 0.63% to $89.91 a barrel. </li><li><a href="https://markets.businessinsider.com/commodities/gold-price?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Gold</a> rose 0.49% to $2,343.16 per ounce. </li><li>The 10-year Treasury yield dropped one basis point to 4.546%.</li><li><a href="https://markets.businessinsider.com/currencies/btc-usd?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Bitcoin</a> rose 1.23% to $65,700.</li></ul>

You Searched For "wholesale inflation" and got 12 results

Stock market today: Indexes mixed as traders digest wholesale inflation and await Powell's remarks

Kelly Cloonan

Amid declining retail inflation, wholesale inflation in India moderates to 2.04% in July

ANI

Stock market today: US stocks edge up after wholesale inflation comes in cool

Matthew Fox

Rupee turns flat at 83.94 against US dollar in early trade

PTI

WPI inflation surges to 16-month high of 3.36% in June on costlier vegetables

PTI

Stock market today: US stocks climb as wholesale inflation data shows big cooldown in prices

Filip De Mott

Stock market today: Indexes edge up as traders digest wholesale inflation data

Filip De Mott

RBI unlikely to cut interest rate in 2024, food inflation to be deciding factor, says SBI chief Setty

Ira Alok Puranik

Wholesale inflation eases to 0.27% in January as food prices moderate

PTI

Wholesale price inflation rises to 9-month high in Dec

IANS

PM Modi congratulates RBI Governor Das on A+ rating in Global Finance Report

ANI

Stock market today: Indexes edge higher after CPI-led rout as wholesale inflation shows improvement

Yuheng Zhan

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