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- Daily Scoop 22-10-12
Daily Scoop 22-10-12
👋 Your Wednesday Scoops - Nike threatens resellers & Hollister targets teens
Today's Scoop:Anticipation
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Big Picture
Businesses are still experiencing rising costs.
Vegetable prices spiked in September.
Investors are waiting for the consumer inflation report tomorrow.
The Market:
⬇️
-0.3%
S&P 500: 3,577.03
1Mo:
-9%
| 1Yr:
-18%
| 5Yr:
+40%
Markets wavered again today and finished lower for the sixth straight session.
Wholesale inflation was higher than expected last month.
The Labor Department reported the Producer Price Index (PPI) rose by 0.4% in September after falling -0.2% in August.
Most of the price increases were in the services sector, but vegetables also saw a huge jump.
Supply chain disruptions drove dry and fresh vegetable prices 16% higher.
The consumer inflation report tomorrow will likely be a market-moving event
. Everyone is expecting inflation to keep rising. Persistent inflation means policymakers will keep raising rates and restricting the economy, sending stocks lower. A surprise decline in prices would be great.
Company Scoops ❤🌎💰
(Click to dig in & vote your reaction, see how others feel)
Nike
-
GB Sciences
-
Hollister
-
Pepsi
-
Moderna & Merck
(These links only work for 24 hours while the story is live)
🤓 Inside Scoop...
The
Producer Price Index (PPI)
is another important indicator for economists tracking
inflation
. Inflation is the rate at which things get more expensive. Unlike the
Consumer Price Index
, which looks at a set basket of stuff your average consumer spends money on and tracks how much it costs each month, the PPI tracks the prices of wholesale goods - like how much Ford pays for the tires it installs in its cars before selling them to you. The rate of change in those prices is inflation. Prices rarely decline. Inflation, aka rising prices, is only a problem when it's really fast. Business supply costs increasing by 8% per year is not manageable.
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