Summary
Stocks are higher with small-caps again leading the way, up 1.5%. There’s a lot of news driving market mood today – big bank earnings, inflation data on the wholesale side, and a re-pivot back to tech stocks after a selloff yesterday. Big banks are reporting good and bad new. Today’s PPI data came in hotter than expected, with June up 2.6% compared to a year ago. On a monthly basis, prices kicked up 0.2% after being unchanged the month before. Today’s inflation data comes a day after the very welcome news on the consumer side that CPI fell to 3.0% in June, more than expected. Wall Street will need to rest up this weekend
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