Dow Futures Up 80 Points, PPI Index in Focus Tonight
MacroDigital Finance
Dow futures rose 80 points, or 0.15%, to 52,505 ahead of tonight's release of the US Producer Price Index for August. The US Labor Department will publish the PPI, a gauge of inflation from producer spending. Analysts expect headline PPI, which includes food and energy, to rise 5.3% year-on-year from 4.7% in July, and to rise 0.4% month-on-month after no change in July. Core PPI, which excludes food and energy, is expected to rise 4.6% year-on-year from 4.2% in July, and to rise 0.3% month-on-month from 0.2% in July. The market is also watching Friday's release of the August Consumer Price Index, ahead of the Federal Reserve's meeting on September 15-16. Analysts expect headline CPI to rise 3.4% year-on-year, unchanged from July, and to rise 0.4% month-on-month from 0.1% in July. Core CPI is expected to rise 2.4% year-on-year from 2.5% in July, and to rise 0.2% month-on-month, unchanged from July.
