wabmester
Thinks s/he gets paid by the post
- Joined
- Dec 6, 2003
- Messages
- 4,459
wab said:Tomorrow at 8:30 a.m. EST we get the Producer Price Index for June with the consensus looking for a 0.3% total rise and 0.2% core rise.
The U.S. Labor Department revealed that the producer price index rose by a seasonally adjusted 0.5% in June. This followed a 0.2% increase during the previous month. Core PPI, which excludes the volatile food and energy sectors, advanced by 0.2% during the latest month. This represented slower growth than the 0.3% advance posted for May.
Bonds got hit, but stocks shrugged it off until TGT reported. Japan dropped 400 points last night. Fun stuff!
So, are retailers missing their numbers because of gas (that's what WMT says) or because of the housing slowdown / wealth effect. I think for now, WMT is right that it's about gas prices.