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The market is relieved today by a tame report on producer prices. The government's PPI report showed that wholesale inflation rose just 0.1% last month. Economists were expecting a rise of 0.4%. Core wholesale prices fell -0.3%, the first decline since October.

Blomberg surveyed 60 economists, not a single one was expecting a decline in core wholesale prices. The S&P 500 is up slightly over 1%. The NASDAQ 100 is up close to 2%. Bond yields across the board are much lower. The best sector today is tech, and energy is the only sector that's trading lower.

Posted by edelfenbein at August 15, 2006 12:07 PM