(MENAFN– ecpulse)
The U.S stock local market closed the week in mixed territories as uneven economic data revealed today suggested that the central bank will be slow to raise rates while increasing violence in Ukraine sent oil prices to the biggest increase in a month and spurred a rally in energy producers.
If truth be told wholesale prices climb at a slower pace in July mainly as fuel costs dropped by the most in eight months while that manufacturing conditions and overall outlook seemed to have lost some significant strength in August.
In fact July’s PPI, which as we know measures the average change in prices received by domestic producers for their output at all stages of processing, came in as expected at 0.1 percent from 0.4% and at 1.7 percent from 1.9 percent for the year ending July.
On the other hand that the Core PPI stayed unchanged for the month of July at 0.2 percent but came in lower as already projected by the market for the year ending July at 1.6 percent from 1.8 percent.
Furthermore the cost of services increased 0.1 percent in July, reflecting higher transportation charges for moving freight on railroads and trucks while that the price for goods were unchanged last month and were up 2 percent since July 2013.
Accordingly indices came as following:
-The Dow Jones Industrial Average shed by 0.30% to 16662.91.
-The S&P 500 Index declined by 0.01% to 1955.06
-The NASDAQ Composite rose by 0.27% to 4464.93. As of 16:16 p.m. ET
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