Stock Market Update
15-Jul-26 09:10 ET
Semiconductor gains, inflation data lifting stocks
Market is Closed
[BRIEFING.COM] S&P futures vs fair value: +13.00. Nasdaq futures vs fair value: +181.00.
The stock market is now on track for a higher open as chipmaker names look to extend yesterday's bounce after another encouraging inflation reading.
Total PPI decreased 0.3% month-over-month in June (Briefing.com consensus: 0.1%) following a downwardly revised 0.6% increase (from 1.1%) in May. The June drop was driven by a 1.4% decline in prices for final demand goods, which was paced by a 6.4% decline in prices for final demand energy. Core PPI, which excludes food and energy, was up 0.2% month-over-month (Briefing.com consensus: 0.4%) following a downwardly revised 0.1% increase (from 0.4%) in May.
On a year-over-year basis, total PPI was up 5.5% versus 6.0% in May, and core PPI was up 4.7% versus 4.6% in May.
The key takeaway from the report is that it is an encouraging monthly marker of how the inflation data can improve with a decline in energy prices; however, it also reveals on a year-over-year basis that wholesalers are still dealing with high prices. Net-net, this report conveys the need for more improvement in bringing down wholesale prices, but it was better-than-feared when also factoring in the downward revisions to the prior month.
