July Jump in Wholesale Inflation Slows Stock Surge

1. Producer-price index rose 0.9%, highest in over three years, impacting Fed rate outlook. 2. Schwab's Joe Mazolla dismissed hopes for a 50 basis-point rate cut. 3. Tech and financial stocks, including Schwab, showed resilience amid market volatility. 4. Concerns over inflation dampened enthusiasm despite strong earnings from 80% of S&P 500. 5. Treasury yields increased, indicating a potential rise in borrowing costs.