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US Producer Price Index Might Decline Again In August, Here Are The Major Macro Issues For Wednesday

U.S.

Benzinga · 09/14/2022 05:26

U.S. stocks closed sharply lower on Tuesday with the Nasdaq Composite gaining over 5% amid a decline in Amazon.com, Inc. (NASDAQ:AMZN), Microsoft Corporation (NASDAQ:MSFT) and Apple Inc. (NASDAQ:AAPL) shares.

Let’s have a look at the major economic events scheduled for today.

  • The MBA's index of mortgage application activity for the latest week is scheduled for release at 7:00 a.m. ET.
  • The Producer Price Index for August will be released at 8:30 a.m. ET. Producer prices cooled higher than expected during July, declining 0.5% on the month. Analysts, meanwhile, are expecting producer prices declining 0.1% on the month, with year-over-year rates expected at 8.7%.
  • The Atlanta Fed's Business Inflation Expectations survey report for September will be released at 10:00 a.m. ET.
  • The Energy Information Administration’s weekly report on petroleum inventories in the U.S. is scheduled for release at 10:30 a.m. ET.

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