Economic Data at 3-Year Highs: PPI, Jobless Claims

Economic Data Impact - Major economic data released this morning has negatively impacted trading futures, with the Dow dropping from +3 points to -180 points, the S&P 500 from -1 to -30 points, and the Nasdaq from +7 to -140 points [1] Producer Price Index (PPI) - Headline PPI increased by 90 basis points from 0.0% to +0.9% for July, with core PPI also rising by 90 basis points month over month [2] - Year-over-year headline PPI reached +3.3%, up from an upwardly revised +2.4% for June, while core PPI soared to +3.7% [3] Jobless Claims - Weekly Jobless Claims decreased by 3,000 to 224,000, remaining below 230,000 for six consecutive weeks [5] - Continuing Claims stood at 1.953 million, down 15,000 from the previous week, marking the 12th consecutive week above 1.9 million [6] Earnings Reports - Deere & Co. reported fiscal Q3 earnings of $4.75 per share, beating consensus estimates by 7.8%, but shares fell by 6% due to softer full-year guidance [8] - JD.com reported earnings of 69 cents per share, a 38% positive surprise, while Weibo exceeded estimates by 100% with earnings of 54 cents per share [9]