Dow Jones today was relatively little changed along with the Russell 2000, S&P 500 Index or SPX, and Nasdaq-100. Overall, stocks rallied and closed mixed after the PPI report was released. Some energy commodities that influence inflation like crude oil and natural gas were higher. The crypto product, bitcoin traded in the $24K price range and was up over 2%. Next, Scott Connor weighs in on stock movers like Union Pacific (UNP), Deere & Co. (DE), Bank of America (BAC), Wells Fargo (WFC), and ConocoPhillips (COP). Stocks that saw weakness included Tesla (TSLA), Amazon (AMZN), UnitedHealth Group (UNH), American Tower (AMT), and Johnson & Johnson (JNJ). Walt Disney (DIS) added 14.4M Disney+ subscribers last quarter. Also, Sonos (SONO) stock price slumped after their big revenue miss. Finally, Connor discusses economic data like the Producer Price Index or PPI and Jobless Claims.
12 Aug 2022