1516 ET - The market appears to be looking past the soft core Producer Price Index readout for August, Fifth Third Wealth Advisors' Chris Osmond says in a note. Despite the weak headline number, there were big jumps for airfares and healthcare, the year-over-year rate accelerated sharply and there were upward revisions to the July level, Osmond says. That all combined to largely neutralize the month-over-month beat, he says. Combined with elevated oil prices and a live Federal Reserve meeting next week, investors are seeing the print as inflationary, Osmond says. The odds of a rate-hike are firming up, sending stocks lower and yields higher, he says.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.