Wall Street

Morning Rebound Faded As PPI Remains Elevated

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ValueWalk

OANDA – Morning rebound faded as PPI remains elevated, Oracle impresses, Oil market remains tight, Gold lower ahead of Fed, MicroStrategy all-in on Bitcoin, Bitcoin holding above $20k Wall Street was quick to fade the morning rebound that stemmed a modest improvement with producer prices, possibly providing some hope that core inflation continues to ease for businesses. Wholesale prices are still climbing higher and while they are slightly off the record annual pace, this report does not change anything for the Fed. Aggressive tightening over the next handful of policy meetings is the only cou…

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