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Wholesale Producer Prices Rose 0.2% in July

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  • Description

    FBN’s Diane Macedo breaks down the stories moving the markets ahead of the trading day.

  • Duration 3:57
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This is this Imus in the morning.

On the -- of.

Good morning everyone wholesale inflation rose more than expected last month.

The Producer Price Index ticked up two tenths of a percent in July economists expected an increase of 110.

And the core index which excludes volatile food and energy prices rose four tenths of a percent.

That's the fastest pace since January prices were pushed higher by tobacco costs which posted their biggest increase since march of 2009.

Futures aren't reacting so much of that report Dow futures are up 31 the S&P is up three in the NASDAQ is down by three points.

More or less where they were before that report came out let's simple preview of the trading day and for that will go to the cold -- -- -- on the floor of the New York Stock Exchange.

Good morning -- good morning Diane good morning everybody this certainly feels like one of those days where we may be crossing that on change finally had.

Some days that were very clearly how the how about -- one way or another right we had three days of gains.

Yesterday we are in a threat the whole day.

Today -- certainly back and forth action that we're getting from abroad and even our own futures show a divergence and certainly we're gonna see some of the tech stocks coming under pressure.

Would Dell's numbers were basically had to cut their revenue forecast not good Dow already down about 6%.

Second quarter sales missing analysts' numbers so a big -- by gallon as a result.

Dallas sort of be a loser at the opening bell BJ wholesale everybody knows the warehouse chain on this name came out with 85 -- -- beaten 77%.

Estimate but more importantly a lot of folks running -- these wholesale place they're inching article in the post today about habitable and a Dollar General the last.

The better write their -- now Wal-Mart even.

And then Eastman Kodak -- talk so much about why Google bought Motorola mobility and that one of the reasons was that the patents that they held Eastman Kodak.

May hold patents that are worth five times more than their business itself.

So Eastman Kodak is up about nine and a half percent big swing.

For Eastman Kodak Staples is also winner last but not least Abercrombie & Fitch which beat -- -- its quarterly numbers so -- probably look at that up almost 2%.

35 cents instead of -- beat the street over the thirty cents but more interestingly enough they've pulled back some free market but I tell yeah.

I think it's -- interesting that Abercrombie & Fitch is paying Jersey Shore Mike the situation.

Not to Wear there clothes I never heard anything like that.

And it usually observers though I -- -- sick and kind of see their point.

Speaking of earnings target reported better than expected results in the second court of the retailer posted a profit of one dollar three cents a share.

Topping the 97 cent estimate.

Revenue came in at sixteen point 24 billion dollars and that beat the estimate of sixteen point seventeen billion target shares are rising in the premarket.

Staples also reported better than expected results the retailer says profit came in at 22 cents per share that beat the nineteen cent estimate.

Revenue also surpass expectations hitting five point eight.

Billion dollars in the second quarter an uptick in sales to business customers led the company raised its profit outlook for the year is well.

And that has shares surging in the premarket.

The kids are emerging about the president's new jobs plan the plan will reportedly include tax cuts and steps to help people who've been out of work for a long time.

A White House official says job creation measures could be included in the super committees deficit reduction package.

The official also says the president will present -- Here's a look at commodities now oil gold and silver are up across the board.

Oil is up by almost a dollar seventy right now is hovering around 88 dollars a barrel yeah.

Gold up by about ten just shy of that 18100 dollar mark and silver is up by -- -- -- -- around forty dollars an ounce right now.

Imus in the morning continues right now on Fox Business giving you the power to prosper and.

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