Stocks Shudder As Wholesale Prices Rise Higher Than Expected In July
1. Wholesale prices unexpectedly rose 0.9% in July, surprising economists. 2. Annual increase in wholesale prices reached 3.3%, up from flat in June. 3. Service prices surged, contributing to the largest demand increase since March 2022. 4. Food prices rose 1.4%, affecting overall goods price rise. 5. S&P 500 and Nasdaq initially slipped post-report but remained flat.