US equities (^GSPC, ^DJI, ^IXIC) have reversed morning sluggishness as the Producer Price Index (PPI) rose only 0.1% for the month of July, a 2.2% rise year-over-year, coming back down close to the Federal Reserve’s goal of 2%. Wall Street was caught off guard after the announcement that Chipotle CEO Brian Niccol (CMG) will step down and become the CEO of Starbucks (SBUX). The stocks went separate directions on the news, with shares of Starbucks rising about 20% while shares of Chipotle fell almost 10%.
Trending tickers on Yahoo Finance include Nike (NKE), Home Depot (HD), and Sea limited (SE)
Top guests today include:
3:05 PM: Jim Smigiel, SEI CIO
3:15 PM: Peter Saleh BTIG Managing Director
3:45 PM: Martin Schroeter, Kyndryl CEO
4:05 PM: Jay Hatfield, Infrastructure Capital Advisors CEO
4:45 PM: Matt Calkins, Appian Founder & CEO