Welcome to Seeking Office's Wall Street Lunch.

Our afternoon update on today's market action news and analysis.

Good afternoon. Today is Friday, August 11th, and I'm your host, Kim Kahn.

Our top story in today's session.

Wholesale inflation is causing some hawkish vibes. The producer price index

increased 0.3% in July, rising slightly more than the 0.2% expected and up 0.1% from June.

Annually, the PPI rose 0.8%, just above the 0.7% rise expected.

It remains far lower than the 9.7% year-over-year increase

logged in July 2022.

CorePPI was up 0.3% versus 0.2% expected and up 2.4% year over year a little

higher than the 2.3% expected. Pantheon macros Ian Shepardson notes that

the core PPPI rose P. P. P. P. P. P.

Rose at a 1.5% annualized rate in the three months to July, compared to the previous

three months, more or less unchanged since May.

So he says this will prove temporary though, given a still huge scope for margin

recompression and the downward pressure on global goods prices from the excess capacity in China's

manufacturing sector.

In today's trading, stocks are overcoming a week start

with the S&P 500 and Dow Higher and the Nasdack just slightly lower.

The Dow looks like it could finish up for the week and the S&P has a chance,

but the ass looks too big for the NASADEC.

Rates are rising on the back of the PPI numbers.

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