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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

<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

Domestic passenger vehicle wholesales declined by about 2 per cent year-on-year in August as companies curtailed dispatches to reduce inventory at dealers amid a drop in demand. According to data issued by the industry body Society of Indian Automobile Manufacturers (<keyword id="20185536" type="General" weightage="20" keywordseo="SIAM" source="keywords">SIAM</keyword>), the total passenger vehicle dispatches in the domestic market stood at 3,52,921 units last month compared to 3,59,228 vehicles in August 2023, a dip of 1.8 per cent. Two-wheeler wholesales rose 9 per cent to 17,11,662 units last month against 15,66,594 units in the year-ago period, it added. Scooter dispatches last month climbed to 6,06,250 units from 5,49,290 units in August 2023, a growth of 10 per cent. Similarly, motorcycle dispatches from companies to dealers increased by 8 per cent to 10,60,866 units last month from 9,80,809 units in August 2023. The total three-wheeler sales grew 8 per cent to 69,962 units last month against 64,944 units a year ago. "Looking ahead, as the country enters the festive season, demand for vehicles is expected to grow, which will also be duly augmented by the recent announcements of PM E-DRIVE and PM-eBus Sewa Schemes of Government of India," SIAM Director General Rajesh Menon said. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/webstories/western-carriers-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/113312196.cms">Western Carriers IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/stock-market/news/pn-gadgil-jewellers-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/113302533.cms">PN Gadgil Jewellers IPO allotment – How to check allotment, IPO GMP, listing date and more</a> <a href="https://www.businessinsider.in/tech/mobile/news/iphone-16-pro-is-already-cheaper-than-the-iphone-15-pro-in-india-but-you-can-get-it-for-up-to-30000-cheaper/articleshow/113220789.cms">iPhone 16 Pro is already cheaper than the iPhone 15 Pro in India, but you can get it for up to ₹30,000 cheaper</a>

Passenger vehicle wholesales dip 2% in August as OEMs cut dispatches

<ul class="summary-list"><li>Costco is the latest warehouse club to tout its growing popularity with millennial and Gen Z shoppers.</li><li>The company said half of new sign-ups were under 40, helping to lower the club's average age.</li></ul><a target="_blank" href="https://www.businessinsider.com/gen-z-latest-hot-club-is-costco-2024-7">One of the hottest clubs</a> for millennials and Gen Z continues to be the wholesale club.Costco is the latest warehouse brand to tout its growing popularity with younger shoppers, extending a trend that has become increasingly clear over the past few months.CFO Gary Millerchip said that about half of <a target="_blank" class="" href="https://www.businessinsider.com/costco-earnings-member-id-card-scanners-entrances-good-for-business-2024-9">Costco's new sign-ups</a> this past year were under 40 — a figure that works out to some 2.5 million millennial and Gen Z households paying for memberships."This percentage has been growing since COVID-19 and has lowered the average age of our members over the last few years," Millerchip said on <a target="_blank" href="https://www.businessinsider.com/costco-hot-dog-chicken-deals-help-membership-fee-increase-2024-9">Costco's fourth-quarter earnings call</a> on Thursday.In a survey last year, roughly one in six shoppers between 18 and 35 told <a target="_blank" href="https://www.gobankingrates.com/saving-money/shopping/reasons-gen-z-loves-costco-so-much/">GoBankingRates</a> they shop at Costco, especially as they continue to reach "adulting" milestones."I admit that I did feel a little older when I became a Costco member," said Dominic Wright, a Gen Z financial planner who told the outlet he's a fan of the company's eyeglasses, contact lenses, and prescriptions.According to <a target="_blank" class="" href="https://www.placer.ai/home">Placer.ai</a> Head of Analytical Research R.J. Hottovy, younger generations are starting families and buying houses in the suburbs, which is a big driving force behind this trend."That's been one of those things I don't think has gotten enough attention," Hottovy told Business Insider.The news echoes results from Sam's Club, the Walmart-owned club store, where Gen Z membership has grown by 68% in the past two years.While Sam's Club clearly has a technological and convenience advantage over Costco, <a target="_blank" href="https://www.businessinsider.com/costco-best-warehouse-club-membership-comparison-bjs-sams-club-2023-5">the main draw of both brands</a> remains low prices on high-quality items."<a target="_blank" href="https://www.businessinsider.com/best-things-costco-for-adults-save-money-no-kids-dinks-2024-4">That generation believes it's cool to save money</a>, and we agree with them," Sam's Club CEO Chris Nicholas told CNBC in June.Nicholas' comment points to another major change: a new social attitude about scoring deals."If you think back decades ago, there was this stigma about shopping in value-oriented channels," Jefferies retail analyst Corey Tarlowe told BI. "Over time, it's kind of withered away."Astute viewers of the film "The Wolf of Wall Street" may recall Jordan Belfort's office <a target="_blank" href="https://www.youtube.com/watch?v=G6Y_yNlGujI">speech</a> in which he ridicules the idea of a failed salesman pulling up to a traffic light in a beat-up Ford Pinto with "a carload of groceries" from Price Club, which merged with Costco in 1993, around the time the scene was set."If you ever went to a TJ Maxx parking lot two decades ago, you probably saw like Nissans and Toyotas," Tarlowe added. "Now you go there and you'll still see the Nissans and Toyotas, but you'll also see BMWs and Mercedes."Indeed, while so-called store brands were once considered a trade-down from national brands, Costco's Kirkland Signature and Sam's Club's Member's Mark have won a loyal following in stores and on social media.Now it's trendy to spend a Saturday afternoon <a target="_blank" class="" href="https://www.businessinsider.com/costco-store-layouts-are-confusing-by-design-2018-3">wandering the aisles</a> of a warehouse club, munching on free samples, and stocking up on essentials — and that's great news for Costco.

Costco's members are getting younger as millennial and Gen Z shoppers flock to wholesale clubs

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

<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

<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

<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

Domestic <keyword id="19910265" type="General" weightage="100" keywordseo="gold-prices" source="keywords">gold prices</keyword> have risen by 10% on a year-to-date basis on the back of the strength in global gold prices, which have surged by 18% year-to-date, driven by robust <keyword id="19894998" type="General" weightage="20" keywordseo="central-bank" source="keywords">central bank</keyword> purchases, heightened geopolitical risks, and growing expectations of a monetary policy pivot from the <keyword id="19901377" type="General" weightage="20" keywordseo="us-federal-reserve" source="keywords">US Federal Reserve</keyword>, according to the <keyword id="20195223" type="General" weightage="20" keywordseo="World-Gold-Council" source="keywords" meta.keywordsubtype="org" meta.entityname="World Gold Council" meta.hostid="153" meta.entityid="World Gold Council">World Gold Council</keyword>. The reduction in <keyword id="20069572" type="General" weightage="20" keywordseo="import-duty" source="keywords">import duty</keyword> has ignited a resurgence in gold demand across <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>. Reports from the recently concluded India International Jewellery Show indicate a substantial increase in order bookings from retailers, particularly in preparation for the upcoming festive and wedding season. Manufacturers have noted that in some cases, orders have reached levels not seen in several years, underscoring the strong buying interest among <keyword id="21595593" type="General" weightage="20" keywordseo="jewellery-retailers" source="keywords">jewellery retailers</keyword> and consumers alike. The trend of bar and coin buying has also remained robust, with both consumers and jewellers capitalizing on the more attractive prices to stock up for future manufacturing needs. Historical analysis suggests that Indian consumer demand, encompassing jewellery and bar and coin demand, could see an additional 50 tonnes or more in the second half of 2024. This potential increase is fueled by a combination of an initial boost in consumer appetite due to the more attractive prices and a longer-term alignment of local prices with international rates. In a notable shift, domestic gold prices, which had been trading at a discount to international prices for five consecutive months, have now started trading at a premium following the <keyword id="19908389" type="General" weightage="20" keywordseo="Union-Budget" source="keywords">Union Budget</keyword> announcement. The discount had widened significantly in July, reaching a peak of around $80 per ounce in the third week of the month, driven by subdued demand and an increased supply of gold through various preferential trade agreements and unofficial channels. However, wholesalers who had inventory purchased under the old customs duty regime began selling gold at a premium to the landed cost to mitigate their losses, further supported by increased consumer demand. While the premiums have moderated recently, from $28 per ounce to around USD 5 per ounce, this shift highlights the changing market sentiment and the impact of rising international gold prices and potential inventory valuation adjustments. The changes introduced in the Union Budget, including a reduction in the long-term investment holding period and a lower tax rate, have made gold ETFs a more attractive investment option. Data from the Association of Mutual Funds in India (AMFI) reveals that net inflows into gold ETFs in July amounted to Rs 13.4 billion (approximately USD 160 million), marking the highest monthly inflows since February 2020 and an 84% increase compared to June 2024. Despite these inflows, the total assets under management (AUM) for Indian gold ETFs grew marginally by 0.3% from the previous month, reaching Rs 345 billion ($4.1 billion). This modest increase can be attributed to the 8 % fall in domestic gold prices following the import duty reduction. Year-to-date, net inflows into Indian gold ETFs have totalled Rs 45 billion ($543 million), with total AUMs rising by 48 % from a year ago. 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="153" meta.entityid="Reserve Bank of India">Reserve Bank of India</keyword> (RBI) has continued its gold purchasing trend, although at a slower pace following a significant increase in June, when purchases reached 9.3 tonnes--the highest monthly total in nearly two years. Year-to-date, the RBI's gold acquisitions have totaled 44.3 tonnes, surpassing the total purchases of the past two years combined. The RBI's gold reserves have now reached a record 849 tonnes, representing 8.8% of total foreign reserves, compared to 7.5 % a year ago. In July, gold imports remained steady at $3.1 billion, maintaining the stable trend observed over the previous three months. Between April and July, imports averaged $3.2 billion, with volumes ranging between 43 and 47 tonnes during this period. The gold import bill for July 2024 was 11 % lower than the previous year, with an estimated 26% decrease in volume terms, around 47 tonnes. Despite a surge in international gold prices, domestic gold prices in India have experienced a notable decline, primarily due to the 9 % reduction in import duty announced in the Union Budget 2024-25. This policy change has led to a 6% decrease in the landed cost of gold, marking a shift in the domestic gold market dynamics.

Domestic gold prices surge 10% amid global price rally, central bank buying: World Gold Council

<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>

You Searched For "wholesale price" and got 10 results

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

Kelly Cloonan

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

Matthew Fox

Passenger vehicle wholesales dip 2% in August as OEMs cut dispatches

PTI

Costco's members are getting younger as millennial and Gen Z shoppers flock to wholesale clubs

Dominick Reuter

Rupee turns flat at 83.94 against US dollar in early trade

PTI

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

Filip De Mott

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

PTI

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

PTI

Domestic gold prices surge 10% amid global price rally, central bank buying: World Gold Council

ANI

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

Filip De Mott

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