Latest news with #inflationreport
Yahoo
7 days ago
- Business
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq futures drift as Wall Street braces for July inflation report
US stock futures wavered around the flatline on Tuesday as Wall Street braced for July's inflation report and President Trump revealed his pick to head the Bureau of Labor Statistics. Futures attached to the Dow Jones Industrial Average (YM=F), the benchmark S&P 500 (ES=F), and the tech-heavy Nasdaq 100 (NQ=F) all fell below the flatline. Intel (INTC) stock jumped more than 2% in premarket trading on Tuesday after CEO Lip-Bu Tan met with President Trump, who had called for Tan's resignation last week. After the meeting, Trump posted to Truth Social saying that he had met with Tan along with Secretary of Commerce Howard Lutnick and Secretary of the Treasury Scott Bessent. "The meeting was a very interesting one," the president wrote, adding, "His success and rise is an amazing story." On Tuesday, reports said China urged local firms not to use Nvidia H20 chips, complicating Trump's bid to turn those sales into a US windfall. After the bell on Monday, Trump announced that he nominated E.J. Antoni, chief economist at the conservative Heritage Foundation, to lead the BLS. "E.J. will ensure that the Numbers released are HONEST and ACCURATE," the president said on Truth Social. Trump fired Erika McEntarfer as commissioner of the BLS earlier this month following the release of the July jobs report, which contained "larger than normal" revisions to data and revealed fewer jobs than previously thought had been added to the economy. Trump said, without providing evidence, that McEntarfer had been acting politically and her numbers "were wrong." During day trading, stocks slumped even as Trump reportedly granted another 90-day pause on the most punishing tariffs on China as the two countries work toward a trade deal. Read more: The latest on Trump's tariffs Wall Street is preparing for the release of July's Consumer Price Index (CPI) report on Tuesday morning. Analysts expect it to show that prices increased as Trump's tariffs kicked in. A hot inflation report could put the Federal Reserve in a tight spot as it navigates rising prices amid recent signs of a weakening labor market. In the background, anticipation over the possibility of a September interest rate cut continues to grow. Investors will get two more pulse checks on the state of the economy later this week, with the release of the Producer Price Index on Thursday and retail sales data on Friday. "Core" price increases accelerate more than expected in July Price increases accelerated more than expected in July. The latest data from the Bureau of Labor Statistics showed that on a "core" basis, which strips out the more volatile costs of food and gas, consumer prices in increased 3.1% over the prior year in July, an increase from June's 2.9% and above economists' forecast for 3%. Core prices climbed 0.3% over the prior month, ahead of June's 0.2% increase but in line with expectations. The headline Consumer Price Index (CPI) showed prices increased 2.7% in July, unchanged from the month prior and below the 2.8% economists had expected. On a month-over-month basis, prices increased 0.2%, lower than the 0.3% seen the month prior. Circle stock jumps on first earnings report since going public Circle (CRCL) posted higher revenue and reserve income on Tuesday in its first quarterly report since its IPO in June, as circulation of its stablecoin USDC (USDC-USD) spread. Circle stock rose 6% in premarket trading on Tuesday. Its total gains since going public are now 133%. Reuters reports: Read more here. US small business optimism rebounds, but uncertainty clouds outlook Reuters reports: Read more here. Good morning. Here's what's happening today. Economic data: NFIB Small Business Optimism (July); Consumer Price Index (July); Real average hourly earnings (July) Earnings: Circle (CRCL), Pony AI (PONY), On Holding (ONON), CoreWeave (CRWV), Rigetti (RGTI), Cava (CAVA) Here are some of the biggest stories you may have missed overnight and early this morning: July inflation report expected to show prices accelerated Media musical chairs are reshaping the sports landscape Earnings live: Circle pops on higher revenue in first earnings report Intel stock rises after Trump praises CEO's 'amazing story' China urges firms to shun Nvidia chips, trade truce extended Musk accuses Apple of unfairly favoring OpenAI on iPhone Google and IBM believe workable quantum computer is in sight US small business optimism up but uncertainty clouds outlook Switzerland wants binding Trump commitment on gold tariffs Cannabis stocks soar as President Trump considers reclassifying marijuana Tilray (TLRY) stock rose another 10% in premarket trading on Tuesday after soaring 41% on Monday amid speculation that President Trump may move to reclassify marijuana as a less dangerous drug. The Canadian cannabis company traded hands at over $1 per share for the first time since February. Despite a 60% gain in the past month, however, shares are still off by 30% for the year. Other cannabis stocks saw a major lift as well. Trulieve (TCNNF) gained 38% on Monday, Curaleaf (CURLF) was up 35%, Green Thumb Industries (GTBIF) added 19%, Aurora (ACB) increased 16%, and Canopy Growth (CGC) surged 26%. On Friday, the Wall Street Journal reported that Trump told donors at a New Jersey fundraiser he was considering making marijuana a Schedule III drug, which would ease restrictions on the substance. Trump said he will make a final decision in the coming weeks. "We're looking at reclassification and we'll make a determination over the next — I would say over the next few weeks, and that determination hopefully will be the right one," Trump said. "It's a very complicated subject." Intel is still a disaster Intel (INTC) is rallying premarket as Trump walked back his apparent hate for the company's CEO, Lip-Bu Tan, after meeting on Monday. Don't be fooled by the price action, however. This isn't the case like Apple (AAPL), where CEO Tim Cook kisses Trump's butt and the company is exempt from various tariffs. Intel is a fundamental disaster right now. People in the industry I talk to are unsure if the company will ever come back to a state of health, given 1) how fast AI chip development is occurring, and 2) how far behind Nvidia and AMD Intel is. Intel's statement on the meeting: "Earlier today, Mr. Tan had the honor of meeting with President Trump for a candid and constructive discussion on Intel's commitment to strengthening U.S. technology and manufacturing leadership. We appreciate the President's strong leadership to advance these critical priorities and look forward to working closely with him and his Administration as we restore this great American company." Japan's Nikkei hits record high on tariff relief, tech rally The Nikkei 225 (^N225) hit a record high Tuesday as easing US tariff fears boosted optimism, led by tech stocks and tariff relief. Bloomberg News reports: Read more here. "Core" price increases accelerate more than expected in July Price increases accelerated more than expected in July. The latest data from the Bureau of Labor Statistics showed that on a "core" basis, which strips out the more volatile costs of food and gas, consumer prices in increased 3.1% over the prior year in July, an increase from June's 2.9% and above economists' forecast for 3%. Core prices climbed 0.3% over the prior month, ahead of June's 0.2% increase but in line with expectations. The headline Consumer Price Index (CPI) showed prices increased 2.7% in July, unchanged from the month prior and below the 2.8% economists had expected. On a month-over-month basis, prices increased 0.2%, lower than the 0.3% seen the month prior. Price increases accelerated more than expected in July. The latest data from the Bureau of Labor Statistics showed that on a "core" basis, which strips out the more volatile costs of food and gas, consumer prices in increased 3.1% over the prior year in July, an increase from June's 2.9% and above economists' forecast for 3%. Core prices climbed 0.3% over the prior month, ahead of June's 0.2% increase but in line with expectations. The headline Consumer Price Index (CPI) showed prices increased 2.7% in July, unchanged from the month prior and below the 2.8% economists had expected. On a month-over-month basis, prices increased 0.2%, lower than the 0.3% seen the month prior. Circle stock jumps on first earnings report since going public Circle (CRCL) posted higher revenue and reserve income on Tuesday in its first quarterly report since its IPO in June, as circulation of its stablecoin USDC (USDC-USD) spread. Circle stock rose 6% in premarket trading on Tuesday. Its total gains since going public are now 133%. Reuters reports: Read more here. Circle (CRCL) posted higher revenue and reserve income on Tuesday in its first quarterly report since its IPO in June, as circulation of its stablecoin USDC (USDC-USD) spread. Circle stock rose 6% in premarket trading on Tuesday. Its total gains since going public are now 133%. Reuters reports: Read more here. US small business optimism rebounds, but uncertainty clouds outlook Reuters reports: Read more here. Reuters reports: Read more here. Good morning. Here's what's happening today. Economic data: NFIB Small Business Optimism (July); Consumer Price Index (July); Real average hourly earnings (July) Earnings: Circle (CRCL), Pony AI (PONY), On Holding (ONON), CoreWeave (CRWV), Rigetti (RGTI), Cava (CAVA) Here are some of the biggest stories you may have missed overnight and early this morning: July inflation report expected to show prices accelerated Media musical chairs are reshaping the sports landscape Earnings live: Circle pops on higher revenue in first earnings report Intel stock rises after Trump praises CEO's 'amazing story' China urges firms to shun Nvidia chips, trade truce extended Musk accuses Apple of unfairly favoring OpenAI on iPhone Google and IBM believe workable quantum computer is in sight US small business optimism up but uncertainty clouds outlook Switzerland wants binding Trump commitment on gold tariffs Economic data: NFIB Small Business Optimism (July); Consumer Price Index (July); Real average hourly earnings (July) Earnings: Circle (CRCL), Pony AI (PONY), On Holding (ONON), CoreWeave (CRWV), Rigetti (RGTI), Cava (CAVA) Here are some of the biggest stories you may have missed overnight and early this morning: July inflation report expected to show prices accelerated Media musical chairs are reshaping the sports landscape Earnings live: Circle pops on higher revenue in first earnings report Intel stock rises after Trump praises CEO's 'amazing story' China urges firms to shun Nvidia chips, trade truce extended Musk accuses Apple of unfairly favoring OpenAI on iPhone Google and IBM believe workable quantum computer is in sight US small business optimism up but uncertainty clouds outlook Switzerland wants binding Trump commitment on gold tariffs Cannabis stocks soar as President Trump considers reclassifying marijuana Tilray (TLRY) stock rose another 10% in premarket trading on Tuesday after soaring 41% on Monday amid speculation that President Trump may move to reclassify marijuana as a less dangerous drug. The Canadian cannabis company traded hands at over $1 per share for the first time since February. Despite a 60% gain in the past month, however, shares are still off by 30% for the year. Other cannabis stocks saw a major lift as well. Trulieve (TCNNF) gained 38% on Monday, Curaleaf (CURLF) was up 35%, Green Thumb Industries (GTBIF) added 19%, Aurora (ACB) increased 16%, and Canopy Growth (CGC) surged 26%. On Friday, the Wall Street Journal reported that Trump told donors at a New Jersey fundraiser he was considering making marijuana a Schedule III drug, which would ease restrictions on the substance. Trump said he will make a final decision in the coming weeks. "We're looking at reclassification and we'll make a determination over the next — I would say over the next few weeks, and that determination hopefully will be the right one," Trump said. "It's a very complicated subject." Tilray (TLRY) stock rose another 10% in premarket trading on Tuesday after soaring 41% on Monday amid speculation that President Trump may move to reclassify marijuana as a less dangerous drug. The Canadian cannabis company traded hands at over $1 per share for the first time since February. Despite a 60% gain in the past month, however, shares are still off by 30% for the year. Other cannabis stocks saw a major lift as well. Trulieve (TCNNF) gained 38% on Monday, Curaleaf (CURLF) was up 35%, Green Thumb Industries (GTBIF) added 19%, Aurora (ACB) increased 16%, and Canopy Growth (CGC) surged 26%. On Friday, the Wall Street Journal reported that Trump told donors at a New Jersey fundraiser he was considering making marijuana a Schedule III drug, which would ease restrictions on the substance. Trump said he will make a final decision in the coming weeks. "We're looking at reclassification and we'll make a determination over the next — I would say over the next few weeks, and that determination hopefully will be the right one," Trump said. "It's a very complicated subject." Intel is still a disaster Intel (INTC) is rallying premarket as Trump walked back his apparent hate for the company's CEO, Lip-Bu Tan, after meeting on Monday. Don't be fooled by the price action, however. This isn't the case like Apple (AAPL), where CEO Tim Cook kisses Trump's butt and the company is exempt from various tariffs. Intel is a fundamental disaster right now. People in the industry I talk to are unsure if the company will ever come back to a state of health, given 1) how fast AI chip development is occurring, and 2) how far behind Nvidia and AMD Intel is. Intel's statement on the meeting: "Earlier today, Mr. Tan had the honor of meeting with President Trump for a candid and constructive discussion on Intel's commitment to strengthening U.S. technology and manufacturing leadership. We appreciate the President's strong leadership to advance these critical priorities and look forward to working closely with him and his Administration as we restore this great American company." Intel (INTC) is rallying premarket as Trump walked back his apparent hate for the company's CEO, Lip-Bu Tan, after meeting on Monday. Don't be fooled by the price action, however. This isn't the case like Apple (AAPL), where CEO Tim Cook kisses Trump's butt and the company is exempt from various tariffs. Intel is a fundamental disaster right now. People in the industry I talk to are unsure if the company will ever come back to a state of health, given 1) how fast AI chip development is occurring, and 2) how far behind Nvidia and AMD Intel is. Intel's statement on the meeting: "Earlier today, Mr. Tan had the honor of meeting with President Trump for a candid and constructive discussion on Intel's commitment to strengthening U.S. technology and manufacturing leadership. We appreciate the President's strong leadership to advance these critical priorities and look forward to working closely with him and his Administration as we restore this great American company." Japan's Nikkei hits record high on tariff relief, tech rally The Nikkei 225 (^N225) hit a record high Tuesday as easing US tariff fears boosted optimism, led by tech stocks and tariff relief. Bloomberg News reports: Read more here. The Nikkei 225 (^N225) hit a record high Tuesday as easing US tariff fears boosted optimism, led by tech stocks and tariff relief. Bloomberg News reports: Read more here. Sign in to access your portfolio
Free Malaysia Today
7 days ago
- Business
- Free Malaysia Today
Wall Street futures steady as investors brace for crucial inflation data
Today's economic data could also test a rally in US stocks that have touched record highs. (AP pic) NEW YORK : US stock index futures were trading flat today, as caution prevailed ahead of a key inflation report that could sway expectations over the Federal Reserve's (Fed) next monetary policy move. There was also some relief that the US and China extended their tariff truce until Nov 10, staving off triple-digit duties on each other's goods. The focus is now on the impact of trade uncertainty on inflation, which has complicated the Fed's decision on interest-rate cuts even as US companies look to pass on higher costs to consumers. A labor department report at 8.30am is expected to show prices increased moderately in July, but economists are anticipating a measure of underlying inflation to reflect its largest gain in six months. The report could help gauge the Fed's move when it meets in September, with traders now pricing an 88% chance of a 25 basis points interest-rate cut, according to data compiled by LSEG. 'This report will be an important one for the Fed, in part because of the unexpectedly weak jobs report earlier this month,' said Jim Reid, global head of macro and thematic research at Deutsche Bank said in a note. 'A downside surprise in today's CPI print would strengthen rate cut expectations, whereas an in-line or stronger print would require further data to provide clarity on that,' Reid said. The data will come at a time when there are growing concerns over the quality of economic data, weeks after President Donald Trump fired the head of the Bureau of Labor Statistics following downward revisions to previous months' nonfarm payrolls counts. At 5.37am, Dow E-minis were up 54 points, or 0.12%, S&P 500 E-minis were up 3.5 points, or 0.05% and Nasdaq 100 E-minis were up 5.25 points, or 0.02%. Today's data could also test a rally in US stocks that have touched record highs, boosted by better-than-expected earnings from technology majors, a detente between the US and its top trade partners and on expectations of rate cuts. Markets are monitoring developments around Trump's nominee EJ Antoni to the Bureau of Labor Statistics commissioner post and potential candidates for the Fed's top job. Among single stocks, Intel rose 3.3% in premarket trading as Trump praised CEO Lip-Bu Tan following their meeting yesterday, days after seeking Tan's resignation. Palo Alto Networks gained 1.8% after brokerage Piper Sandler raised its rating on the cybersecurity stock to 'overweight' from 'neutral'. Hanesbrands soared 27.3% after a report said Canada's Gildan Activewear is nearing a deal to acquire the US innerwear-maker for about US$5 billion, including debt. US-listed shares of On Holding climbed 10.7% after the sportswear maker raised its annual sales forecast. Earnings reports from Venture Global and Circle Internet are also due before the bell.
Yahoo
7 days ago
- Business
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq futures drift as Wall Street braces for July inflation report
US stock futures wavered around the flatline on Tuesday as Wall Street braced for July's inflation report and President Trump revealed his pick to head the Bureau of Labor Statistics. Futures attached to the Dow Jones Industrial Average (YM=F), the benchmark S&P 500 (ES=F), and the tech-heavy Nasdaq 100 (NQ=F) all fell below the flatline. Intel (INTC) stock jumped more than 2% in premarket trading on Tuesday after CEO Lip-Bu Tan met with President Trump, who had called for Tan's resignation last week. After the meeting, Trump posted to Truth Social saying that he had met with Tan along with Secretary of Commerce Howard Lutnick and Secretary of the Treasury Scott Bessent. "The meeting was a very interesting one," the president wrote, adding, "His success and rise is an amazing story." On Tuesday, reports said China urged local firms not to use Nvidia H20 chips, complicating Trump's bid to turn those sales into a US windfall. After the bell on Monday, Trump announced that he nominated E.J. Antoni, chief economist at the conservative Heritage Foundation, to lead the BLS. "E.J. will ensure that the Numbers released are HONEST and ACCURATE," the president said on Truth Social. Trump fired Erika McEntarfer as commissioner of the BLS earlier this month following the release of the July jobs report, which contained "larger than normal" revisions to data and revealed fewer jobs than previously thought had been added to the economy. Trump said, without providing evidence, that McEntarfer had been acting politically and her numbers "were wrong." During day trading, stocks slumped even as Trump reportedly granted another 90-day pause on the most punishing tariffs on China as the two countries work toward a trade deal. Read more: The latest on Trump's tariffs Wall Street is preparing for the release of July's Consumer Price Index (CPI) report on Tuesday morning. Analysts expect it to show that prices increased as Trump's tariffs kicked in. A hot inflation report could put the Federal Reserve in a tight spot as it navigates rising prices amid recent signs of a weakening labor market. In the background, anticipation over the possibility of a September interest rate cut continues to grow. Investors will get two more pulse checks on the state of the economy later this week, with the release of the Producer Price Index on Thursday and retail sales data on Friday. Cannabis stocks soar as President Trump considers reclassifying marijuana Tilray (TLRY) stock rose another 10% in premarket trading on Tuesday after soaring 41% on Monday amid speculation that President Trump may move to reclassify marijuana as a less dangerous drug. The Canadian cannabis company traded hands at over $1 per share for the first time since February. Despite a 60% gain in the past month, however, shares are still off by 30% for the year. Other cannabis stocks saw a major lift as well. Trulieve (TCNNF) gained 38% on Monday, Curaleaf (CURLF) was up 35%, Green Thumb Industries (GTBIF) added 19%, Aurora (ACB) increased 16%, and Canopy Growth (CGC) surged 26%. On Friday, the Wall Street Journal reported that Trump told donors at a New Jersey fundraiser he was considering making marijuana a Schedule III drug, which would ease restrictions on the substance. Trump said he will make a final decision in the coming weeks. "We're looking at reclassification and we'll make a determination over the next — I would say over the next few weeks, and that determination hopefully will be the right one," Trump said. "It's a very complicated subject." Intel is still a disaster Intel (INTC) is rallying premarket as Trump walked back his apparent hate for the company's CEO, Lip-Bu Tan, after meeting on Monday. Don't be fooled by the price action, however. This isn't the case like Apple (AAPL), where CEO Tim Cook kisses Trump's butt and the company is exempt from various tariffs. Intel is a fundamental disaster right now. People in the industry I talk to are unsure if the company will ever come back to a state of health, given 1) how fast AI chip development is occurring, and 2) how far behind Nvidia and AMD Intel is. Intel's statement on the meeting: "Earlier today, Mr. Tan had the honor of meeting with President Trump for a candid and constructive discussion on Intel's commitment to strengthening U.S. technology and manufacturing leadership. We appreciate the President's strong leadership to advance these critical priorities and look forward to working closely with him and his Administration as we restore this great American company." Japan's Nikkei hits record high on tariff relief, tech rally The Nikkei 225 (^N225) hit a record high Tuesday as easing US tariff fears boosted optimism, led by tech stocks and tariff relief. Bloomberg News reports: Read more here. Cannabis stocks soar as President Trump considers reclassifying marijuana Tilray (TLRY) stock rose another 10% in premarket trading on Tuesday after soaring 41% on Monday amid speculation that President Trump may move to reclassify marijuana as a less dangerous drug. The Canadian cannabis company traded hands at over $1 per share for the first time since February. Despite a 60% gain in the past month, however, shares are still off by 30% for the year. Other cannabis stocks saw a major lift as well. Trulieve (TCNNF) gained 38% on Monday, Curaleaf (CURLF) was up 35%, Green Thumb Industries (GTBIF) added 19%, Aurora (ACB) increased 16%, and Canopy Growth (CGC) surged 26%. On Friday, the Wall Street Journal reported that Trump told donors at a New Jersey fundraiser he was considering making marijuana a Schedule III drug, which would ease restrictions on the substance. Trump said he will make a final decision in the coming weeks. "We're looking at reclassification and we'll make a determination over the next — I would say over the next few weeks, and that determination hopefully will be the right one," Trump said. "It's a very complicated subject." Tilray (TLRY) stock rose another 10% in premarket trading on Tuesday after soaring 41% on Monday amid speculation that President Trump may move to reclassify marijuana as a less dangerous drug. The Canadian cannabis company traded hands at over $1 per share for the first time since February. Despite a 60% gain in the past month, however, shares are still off by 30% for the year. Other cannabis stocks saw a major lift as well. Trulieve (TCNNF) gained 38% on Monday, Curaleaf (CURLF) was up 35%, Green Thumb Industries (GTBIF) added 19%, Aurora (ACB) increased 16%, and Canopy Growth (CGC) surged 26%. On Friday, the Wall Street Journal reported that Trump told donors at a New Jersey fundraiser he was considering making marijuana a Schedule III drug, which would ease restrictions on the substance. Trump said he will make a final decision in the coming weeks. "We're looking at reclassification and we'll make a determination over the next — I would say over the next few weeks, and that determination hopefully will be the right one," Trump said. "It's a very complicated subject." Intel is still a disaster Intel (INTC) is rallying premarket as Trump walked back his apparent hate for the company's CEO, Lip-Bu Tan, after meeting on Monday. Don't be fooled by the price action, however. This isn't the case like Apple (AAPL), where CEO Tim Cook kisses Trump's butt and the company is exempt from various tariffs. Intel is a fundamental disaster right now. People in the industry I talk to are unsure if the company will ever come back to a state of health, given 1) how fast AI chip development is occurring, and 2) how far behind Nvidia and AMD Intel is. Intel's statement on the meeting: "Earlier today, Mr. Tan had the honor of meeting with President Trump for a candid and constructive discussion on Intel's commitment to strengthening U.S. technology and manufacturing leadership. We appreciate the President's strong leadership to advance these critical priorities and look forward to working closely with him and his Administration as we restore this great American company." Intel (INTC) is rallying premarket as Trump walked back his apparent hate for the company's CEO, Lip-Bu Tan, after meeting on Monday. Don't be fooled by the price action, however. This isn't the case like Apple (AAPL), where CEO Tim Cook kisses Trump's butt and the company is exempt from various tariffs. Intel is a fundamental disaster right now. People in the industry I talk to are unsure if the company will ever come back to a state of health, given 1) how fast AI chip development is occurring, and 2) how far behind Nvidia and AMD Intel is. Intel's statement on the meeting: "Earlier today, Mr. Tan had the honor of meeting with President Trump for a candid and constructive discussion on Intel's commitment to strengthening U.S. technology and manufacturing leadership. We appreciate the President's strong leadership to advance these critical priorities and look forward to working closely with him and his Administration as we restore this great American company." Japan's Nikkei hits record high on tariff relief, tech rally The Nikkei 225 (^N225) hit a record high Tuesday as easing US tariff fears boosted optimism, led by tech stocks and tariff relief. Bloomberg News reports: Read more here. The Nikkei 225 (^N225) hit a record high Tuesday as easing US tariff fears boosted optimism, led by tech stocks and tariff relief. Bloomberg News reports: Read more here.
Yahoo
12-08-2025
- Business
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq futures hold steady as Wall Street braces for July inflation report
US stock futures wavered around the flatline as Wall Street braced for July's inflation report and President Trump revealed his pick to head the Bureau of Labor Statistics. Futures attached to the Dow Jones Industrial Average (YM=F), the benchmark S&P 500 (ES=F), and the tech-heavy Nasdaq 100 (NQ=F) held steady. After the bell on Monday, Trump announced that he nominated E.J. Antoni, chief economist at the conservative Heritage Foundation, to lead the BLS. "E.J. will ensure that the Numbers released are HONEST and ACCURATE," the president said on Truth Social. Trump fired Erika McEntarfer as commissioner of the BLS earlier this month following the release of the July jobs report, which contained "larger than normal" revisions to data and revealed fewer jobs than previously thought had been added to the economy. Trump said, without providing evidence, that McEntarfer had been acting politically and her numbers "were wrong." Trump also met with Intel CEO Lip-Bu Tan Monday evening, which boosted its stock in after-hours trading. Last week, the president called for Tan to resign, but after Monday's meeting he indicated his cabinet would continue discussions with the CEO, without specifying the topics under consideration. During day trading, stocks slumped even as Trump reportedly granted another 90-day pause on the most punishing tariffs on China as the two countries work toward a trade deal. Read more: The latest on Trump's tariffs Wall Street is preparing for the release of July's Consumer Price Index (CPI) report on Tuesday morning. Analysts expect it to show that prices increased as Trump's tariffs kicked in. A hot inflation report could put the Federal Reserve in a tight spot as it navigates rising prices amid recent signs of a weakening labor market. In the background, anticipation over the possibility of a September interest rate cut continues to grow. Investors will get two more pulse checks on the state of the economy later this week, with the release of the Producer Price Index on Thursday and retail sales data on Friday. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
12-08-2025
- Business
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq futures hold steady as Wall Street braces for July inflation report
US stock futures wavered around the flatline as Wall Street braced for July's inflation report and President Trump revealed his pick to head the Bureau of Labor Statistics. Futures attached to the Dow Jones Industrial Average (YM=F), the benchmark S&P 500 (ES=F), and the tech-heavy Nasdaq 100 (NQ=F) held steady. After the bell on Monday, Trump announced that he nominated E.J. Antoni, chief economist at the conservative Heritage Foundation, to lead the BLS. "E.J. will ensure that the Numbers released are HONEST and ACCURATE," the president said on Truth Social. Trump fired Erika McEntarfer as commissioner of the BLS earlier this month following the release of the July jobs report, which contained "larger than normal" revisions to data and revealed fewer jobs than previously thought had been added to the economy. Trump said, without providing evidence, that McEntarfer had been acting politically and her numbers "were wrong." Trump also met with Intel CEO Lip-Bu Tan Monday evening, which boosted its stock in after-hours trading. Last week, the president called for Tan to resign, but after Monday's meeting he indicated his cabinet would continue discussions with the CEO, without specifying the topics under consideration. During day trading, stocks slumped even as Trump reportedly granted another 90-day pause on the most punishing tariffs on China as the two countries work toward a trade deal. Read more: The latest on Trump's tariffs Wall Street is preparing for the release of July's Consumer Price Index (CPI) report on Tuesday morning. Analysts expect it to show that prices increased as Trump's tariffs kicked in. A hot inflation report could put the Federal Reserve in a tight spot as it navigates rising prices amid recent signs of a weakening labor market. In the background, anticipation over the possibility of a September interest rate cut continues to grow. Investors will get two more pulse checks on the state of the economy later this week, with the release of the Producer Price Index on Thursday and retail sales data on Friday. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
