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We are excited to launch an entirely redesigned Dashboard, giving you a cleaner, faster, and fully customizable view of both broader market trends and your personal holdings. You can read more about the new features, modular widgets, and how to toggle between views in our latest blog post [7].
Economy
The U.S. Bureau of Labor Statistics reported [8] that the Producer Price Index (PPI) for final demand advanced 0.4% month-over-month in August on a seasonally adjusted basis, following a 0.1% gain in July, while unadjusted final demand prices were 5.4% higher than a year earlier. The monthly increase was driven by final demand goods, which rose 1.1%, reflecting a 4.2% increase in energy prices, led by a 24.1% surge in diesel fuel, along with a 0.1% increase in food prices. Meanwhile, final demand services edged up 0.1%, supported by a 2.3% increase in transportation and warehousing services, driven in part by a 2.0% increase in truck transportation of freight. This was partially offset by a 0.2% decline in trade services. Stripping out foods, energy, and trade services, the core PPI grew 0.3% for the month and stood 4.7% higher than a year earlier. Over the 12 months ended in August, energy prices posted the largest increase, rising 24.4%, followed by transportation and warehousing services at 13.0%, goods less foods and energy at 5.1%, trade services at 4.5%, and foods at 0.1%.
The National Association of REALTORS® reported [9] that existing-home sales sank to a 14-month low in August, falling 2.0% month-over-month to a seasonally adjusted annual rate of 3.98 million, a 1.2% decrease compared to a year earlier. On a regional basis, monthly sales held steady in the West but declined across the Northeast (-4.0%), Midwest (-3.1%), and South (-1.6%). Despite the drop in sales volume, pricing trends remained positive: the median existing-home sales price increased 1.6% year-over-year to $429,100, representing the 38th consecutive month of annual price gains. Meanwhile, sluggish demand pushed the inventory of unsold homes up 3.2% from July to 1.62 million units, marking the highest level of available homes in nearly seven years. This expansion drove the available supply to 4.9 months, its highest mark in over a decade. NAR Chief Economist Lawrence Yun noted that while high mortgage rates caused a mild dip in activity, the growing inventory is providing buyers with better opportunities to negotiate amid underlying demand supported by rising wages and job creation.
The U.S. Bureau of Labor Statistics reported [10] that the Consumer Price Index (CPI) for All Urban Consumers advanced 0.4% month-over-month in August on a seasonally adjusted basis, building on a 0.1% gain in July, while unadjusted overall prices were 3.4% higher than a year earlier. Much of this upward pressure came from the energy sector, which climbed 2.1% due to a sharp 3.9% spike in gasoline prices, a single factor responsible for over a third of the monthly CPI bump. Other household essentials showed more subdued growth, with shelter costs rising 0.3% and food prices inching up just 0.1%. When removing the volatile food and energy categories, core inflation also registered a 0.3% monthly gain, leaving the 12-month core rate at 2.4%. Within that core index, rising costs for airline fares and communications outweighed price declines in medical care and motor vehicle insurance. Looking at the broader annual picture, the 16.3% jump in energy heavily outpaced the 12-month increases seen in shelter (+3.0%) and food (+2.7%).
Upcoming Economic Reports:
Wednesday September 16 – FOMC Interest Rate Decision
Thursday September 17 – Pending Home Sales (MoM) (August)
Earnings Calendar: