PPI环比飙升0.9% 美股加密齐跳水 美元指数急升

Core Viewpoint - The Producer Price Index (PPI) for July significantly exceeded market expectations, leading to a sharp sell-off in global financial markets, including U.S. stock futures and cryptocurrencies [1][3]. Group 1: Economic Data - The PPI rose by 0.9% month-over-month, marking the largest single-month increase since June 2022, while economists had anticipated only a 0.2% increase, indicating a more than fourfold deviation from expectations [3]. - The core PPI, excluding food and energy, also increased by 0.9%, surpassing the expected 0.3% [3]. - Year-over-year, the PPI increased by 3.3%, the largest 12-month increase since February, significantly above the Federal Reserve's 2% inflation target [3]. Group 2: Market Reactions - Following the PPI announcement, U.S. stock futures experienced a sharp decline, with the Dow futures down 0.4%, Nasdaq futures down 0.27%, and S&P 500 futures down 0.25% [4]. - Semiconductor stocks were particularly affected, with the Philadelphia Semiconductor Index dropping over 1%, and notable declines in companies such as Coherent (down over 20%) and others like NXP, AMD, and Texas Instruments, all down more than 1% [4]. - Chinese stocks listed in the U.S. also fell, with the Nasdaq Golden Dragon China Index down 1.9%, and significant drops in companies like Xpeng (down over 5%) and others [4]. - The cryptocurrency market faced severe losses, with Bitcoin and Ethereum both dropping over 3%, and a significant number of liquidations occurring in the market [4]. Group 3: Federal Reserve's Response - Federal Reserve officials have begun to express caution regarding aggressive rate cut expectations, with San Francisco Fed President Mary Daly opposing a 50 basis point cut in September, suggesting a more gradual approach to policy adjustments [5]. - Daly indicated that while she supports starting rate cuts in September, the adjustments should be gradual, with a reasonable expectation of two cuts this year [5]. - Atlanta Fed President Raphael Bostic also expressed a cautious stance, suggesting that a rate cut in 2025 would be appropriate if the job market remains stable [5].